Home buyers can take possession of builder’s project before Diwali.

Jagran correspondent, Greater Noida. Before Diwali, state governments can provide big relief to builders project home buyers. A roadmap has been prepared to implement the recommendations of Amitabh Kant Commission. It will be implemented after cabinet approval.

Its implementation will pave the way for those projects which are stuck in home buyer registration related difficulties. At this time, the way for completing the incomplete work of the builder will also open.

Why is the registry stuck?

1.67 lakh apartment buyers are stranded in construction projects in Noida, Greater Noida and Yamuna Authority. For buyers who already own apartments, their registration is on hold due to non-payment to builders.

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Therefore they cannot acquire ownership rights. The advantage of time is necessary to complete unfinished builder projects. Amitabh Kant Committee made recommendations to find solutions to these problems. These issues have been discussed in several rounds of meetings in the state.

Noida, Greater Noida and Yamuna authorities have evaluated the recommendations and sent the report to the government. According to officials, the draft is basically ready to implement the recommendations after brainstorming at all levels.

Its proposals will soon be presented in the cabinet. Cabinet approval will pave the way for implementing the recommendations.

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Buyers need to pay only to register the unit

The biggest hurdle in registration of flats is the amount paid by the builder to the authorities. Therefore, the authority will not issue occupancy and completion certificates to builders.

To overcome this hurdle, buyers have to pay the amount due to the builder for their apartments to the authority. In return, the authorities will register their apartments. Buyers will be able to take ownership of the apartment.

Yamuna Authority gets two years of zero hour benefit

There is also a provision that builders get the benefit of zero hours to start construction work on incomplete builder projects. In view of the NGT order, builders in the four Noida areas and Greater Noida and Yamuna authority areas are likely to get the benefit of nil time limit during the COVID-19 pandemic.