The Greater Noida Authority has approved stringent action against 13 real estate developers who failed to execute property registries or clear long-pending dues despite repeated extensions under the Uttar Pradesh government’s stalled projects policy.

While withdrawing all concessions granted to these non-compliant builders, the Authority has also moved to safeguard homebuyers by allowing registry execution in co-operative housing societies, offering long-awaited legal relief to thousands of residents, according to a report by The Hindustan Times.

Officials, however, have been told to ensure buyers’ interests are protected.

“The authority board has decided to take strict action against those developers, who have not taken measures as per the UP government’s December 21, 2023 scheme meant for the stalled housing projects. The board has allowed the Authority to take harsh action against the developers, who fail to use the provisions of this scheme and deliver relief to the homebuyers,” said Greater Noida authority’s CEO Ravi Kumar NG.

“All the benefits received from the recommendations of the state government scheme for stalled housing projects will be withdrawn from a dozen builders… The concession received from the recommendations of the state scheme will be withdrawn from a dozen such builders,” said CEO.

“Also, the board took a decision in favour of the homebuyers, who can now execute registries in the co-operative housing societies,” he added.

Greater Noida authority board chairman Deepak Kumar said giving more time to the builders who have neither started the registry in the names of buyers nor deposited the outstanding amount of the Authority, is of no use. He has thus directed to take strict action against such builders.

“There are a dozen such builders, which include AVJ Developers Sector Beta Two, MSX Realtek Sector Alpha One, Jyotirmay Infracon Sector-16C, Space Engineering Sector-1, Elegant Infracon Sector Techzone-4 etc,” said a Greater Noida spokesperson.

“So far 85 of the 98 builder projects have benefited from the policy package brought to solve the bottlenecks in legacy real estate projects based on government scheme’s recommendations. By completing these projects, the way has been cleared to provide homes to buyers and the names of about 18,000 flat buyers have been registered by taking the benefit of the policy. The remaining 13 builders have not made any effort towards registering the names of the buyers. Now the board has given approval to take action against such builders only,” said a Greater Noida spokesperson.

The authority board has also brought major relief to the homebuyers, living in co-operative housing societies without registries. “The homebuyers can now execute registries in the co-operative housing societies,” said Greater Noida authority’s CEO.

In a major relief for cooperative housing society residents, the board approved a decision allowing registries for “subsequent members” who bought units through power of attorney but never received legal ownership due to incomplete projects or non-execution of the registry that is a process to transfer the property title.