Greater Noida Authority has issued recovery certificates against the promoters of 13 incomplete housing projects for failing to pay outstanding dues, while commissioning a survey to establish the number of affected buyers, money collected and current status of each project.
The authority is using an expert agency, Carey and Brown, to assess the projects. The survey will examine how many buyers have booked flats, how much money has been deposited, the amount owed to the authority and the present stage of construction, according to Navbharat Times – Noida.
The findings will be used to determine the next action against the 13 projects. The authority has also indicated that the properties of the concerned builders could be sealed after the survey report is received.
The action is linked to the legacy projects policy prepared on the recommendations of the Amitabh Kant committee. Greater Noida Authority has 98 builder projects covered by the policy. Demand notices requiring payment of 25 per cent of outstanding dues were issued to 85 projects.
According to authority figures reported by the newspaper, 73 projects have deposited the required 25 per cent amount, either fully or partially. These payments have helped the authority recover part of its outstanding dues and have enabled progress towards registrations in some projects.
The 73 projects together include around 75,000 flats. More than 40 flat registrations have taken place so far in these projects, the report said. The supplied report does not provide a project-wise breakdown of the registrations or explain how many of the 73 projects have reached a stage where registrations can proceed.
The 13 promoters targeted in the latest action had deposited the initial 25 per cent but failed to pay the remaining 75 per cent. The authority has imposed a 20 per cent penalty on the builders and issued recovery certificates for the unpaid amount.
Recovery certificates allow the administration to pursue outstanding public dues through recovery proceedings. In this case, the authority’s next steps will depend on the survey, which is intended to establish the financial and construction position of each project before further enforcement.
The matter was discussed at a recent meeting of the Greater Noida Authority board. Chief Executive Officer N G Ravi Kumar informed board members about the progress, including the action against the 13 projects and the survey being carried out by the specialist agency.
For homebuyers, the immediate significance lies in whether the survey produces a clear project-wise record of construction status, dues, buyer payments and pending registrations. The authority has not yet announced a separate completion schedule for the 13 projects. Its stated next step is to review the survey report and proceed with enforcement, including possible sealing of builder properties.
