Main
New scheme for Noida builders, homebuyers on the anvil
Noida, Greater Noida and Yamuna Expressway authorities are considering a proposal to come up with a new scheme to give relief to homebuyers and developers builders are not able to deliver flats on time, due to financial crisis.
In May this year, the three authorities had proposed an ‘exit policy’ to make way for builders to return undeveloped land to the government. But the state Government has not approved of the plan so far.
“We are working out a comprehensive policy and the ‘exit policy’ will be a part of it. The objective of the comprehensive policy will be to revive sick realty projects and also benefit property buyers, who have bought flats and are unable to get possession.” said Sanjay Aggarwal, chairman of the three authorities.
Aggarwal discussed the modalities of the proposed comprehensive policy with officials of the three authorities on Monday. Deepak Agarwal, CEO, Greater Noida Authority and PK Aggarwal, CEO, Noida authority, along with other senior officials, discussed the policy framework at the meeting.
In the next 15 days the three authorities will finalise a draft of the proposed comprehensive policy after detailed discussions.
The exit policy for builders is expected to address the issue of delayed completion of housing projects that has been affecting homebuyers. The policy when approved would help revive stalled housing projects.
-
Interviews1 week ago
High Rental Yield, Price Appreciation, Stable Growth, Make Sydney an Ideal Realty Investment Option: Haansal Estate
-
News4 weeks ago
Transindia Real Estate To Sell Jhajjar Logistics Park, ₹ 636.71 cr+ Ent. Value
-
News2 days ago
Tenant Experience Platform, Aeria, Raises $1.8 m Pre-Seed Round Led by Kalaari and Foundamental Along With Others
-
News2 days ago
AIPL’s Business Club Secures Rs 100/sq ft Rental on Golf Course Extn Road, Gurugram
-
News9 hours ago
GOCL Corporation monetises 264.50 acres of land asset in Kukatpally for Rs 3402 cr
-
News22 hours ago
Kanodia Group Enters Real Estate; Targets Over Rs 5000 Cr Investment By 2028
-
News9 hours ago
Sacred Cities See a Retail Boom as Spiritual Tourism Surge: CBRE Report
-
News2 days ago
Managed Workspace Provider Table Space Appoints Jamshed Taraporwala to head BD