Noida authority to bring rescheduling facility for group housing, commercial department; details here

 

• Rescheduling facility will be introduced from January 1 to March 31 for depositing dues of residential and sports city plots in Group Housing, Commerce Department.

The Noida Authority said in the board meeting on December 28 that in order to remove the problems being faced in the registry of flat owners, the facility of rescheduling will be introduced to deposit the arrears of residential and sports city plots in group housing, commercial department.

Rescheduling facility will be introduced from January 1, 2023 to March 31, 2023 to deposit the outstanding amount of residential and sports city plots in Group Housing, Commerce Department.

The board meeting was held under the chairmanship of Shri Arvind Kumar. The meeting was attended by the CEO of Noida and other officials of the @Noida_Authority. Details are attached in the press note.

"Rescheduling facility will be introduced from 01.01.2023 to 31.03.2023 to deposit the arrears of residential and sports city plots in the Commercial Department from 01.01.2023 to 31.03.2023, to solve the problems faced by the registry of flat owners," In the residential projects of Group Housing, the Noida Authority said.

"Under the rescheduling facility, the installments will be rescheduled by capitalizing the overdue amount of premium/interest/or earlier rescheduled premium/interest and additional compensation, lease rent and overdue future installments. The period of the rescheduled payment plan shall not exceed two years "

The decision was taken during the 208th board meeting of the Noida Authority, chaired by Uttar Pradesh Infrastructure and Industrial Development Commissioner Arvind Kumar.

Noida Authority CEO Ritu Maheshwari and Uttar Pradesh Financial Corporation Managing Director Rajashekhar also attended the meeting held on Wednesday.

Besides this, the Noida Authority also announced an increase in the land purchase rate from farmers to ₹5,324 per square meter from the existing ₹5,060 per square metre.

It further amended the provisions relating to extension of time for completion of projects by real estate developers.

With regard to fixing the rates of land to be purchased from farmers by mutual agreement, the statement said, "Based on the registered sale deed, the purchase was being done by the Noida Authority at the rate of ₹5,060 per square metre. In the public interest It was decided to increase it to ₹5,324 per square metre."

It also announced the introduction of a three-month amnesty scheme for waiver of interest on water charges and regularization of unauthorized water connections, which would be applicable only till March 31, 2023, after which normal rates of recovery would apply, according to the statement.

On the extension of time fixed for completion of work in builders' plots, the Noida Authority said that in order to encourage speedy execution of sub-lease deeds of flats in favor of home buyers, it has been decided that the time extension charges will be will be imposed on Based on built up area and residual area on the project.

“In case of old allottees, time extension up to a maximum of 15 years from the date of lease deed for the entire project and up to a maximum of 13 years from the date of lease deed for new allottees will be given on case to case basis. For new allottees, if prior to the project If the completion of the phase is not completed within seven years from the lease deed, the allotment will compulsorily be cancelled," it said in the statement.

The authority also said it will bring out a plan for LIG, MIG and HIG residential apartments - a total of 340 units - in Sectors 52, 62, 71, 99, 118, 135. LIG flats will be allotted on the basis of lucky draw. E-auction of MIG and HIG apartments will be done.