In recent months, Greater Noida Industrial Development Authority (GNIDA) has overseen a significant upsurge in property registrations across 20 housing projects. These registrations have not only generated substantial revenue but also showcased positive advancements in the region’s real estate sector.
Registrations and Money Earned
- About 5,000 homes got registered in just four months.
- These registrations made around Rs 100 crore, and the government got Rs 150 crore in stamp duty.
GNIDA’s Efforts
- GNIDA’s CEO, Ravi Kumar NG, said the registrations happened because developers paid what they owed and got the go-ahead to start selling homes.
- They made it easier for people to buy homes by changing how registrations worked.
Plans for Helping Stalled Projects
- GNIDA is thinking about helping projects that are stuck. They’re listening to suggestions from an expert group led by Amitabh Kant.
- They’re planning to separate what developers owe from the home registrations, which might help buyers once it’s all worked out.
What’s Happening with the Projects
- Out of 191 projects, 62 are all clear, but 36 are in court problems, and 93 are having issues paying their dues.
- GNIDA is focused on fixing problems between buyers and builders as per the rules.
Numbers About the Area’s Growth:
- There are around 2.6 lakh homes in these projects. About 1.2 lakh homes are all done and have their papers.
- GNIDA helped register over one lakh homes, which is a big step in people officially owning their places.
Conclusion
The recent increase in home registrations and money earned in Greater Noida shows things are looking up in the property world. GNIDA’s work to make registrations smoother and fix problems shows they’re serious about making things better for people buying homes.
This report shares good news about more homes being registered and shows how GNIDA is trying to fix problems. It also tells us that there might be more developments in the area’s property scene soon.
Also Read: India’s Housing Boom: Powering the Economy