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Rights and Liabilities’ of ‘Oh My God’ project transferred to Saya Cementation 

Gutam Buddh Nagar/ Lucknow: Under the provisions of Section-15 of RERA Act, U.P. RERA has approved the proposal to transfer the majority “rights and liabilities” of ‘Oh My God’ (UPRERAPRJ11141) project located at Gautam Budh Nagar from erstwhile promoter, Baya Weaver Ltd., to new promoter Saya Cementation Ltd. jointly with the land-owning institution, Alisa Infratech Pvt. Ltd. For this, Baya Weaver Ltd. had submitted a proposal to U.P. RERA which had consent of more than 2/3rd allottees of the project. U.P. RERA approved the proposal and now the project will be developed and completed by Saya Cementation Ltd. and Alisa Infratech Pvt. Ltd. jointly by the name Saya Status. 

Oh My God, a commercial project, is spread over 18890 sq. mt. and located at plot No. C3-A in sector 129, Noida close to Noida –Gr Noida Expressway. The project was commenced in April 2015 by Baya Weaver Ltd. and it was proposed to be completed till February 2023, including six month extension on account of COVID-19 pandemic. 

Section-15 of the RERA Act has been quite relevant for stuck projects and offering easy passage to those promoters who are willing to take over and complete such projects. This is 3rd project in which rights and liabilities has been transferred to eligible promoter willing to complete the stuck project. Prior to this, rights of BizLife project was transferred to HSL Software Pvt. Ltd. and now it is being developed as i-thum 62 in Gautambuddh Nagar. Another project is Kiara Residency being developed by Kiara Lifespaces Pvt. Ltd. in Lucknow.

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