Noida's real estate crisis—Home buyers struggle for registry, big players remain shy

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For years, Noida's frustrated homebuyers have staged protests—at Jantar Mantar, outside GNIDA offices, and locally at Noida Extension Golchakkar. 2023 brought a glimmer of hope. The Amitabh Kant committee—set up to examine the issues related to legacy stalled real estate projects—proposed solutions to expedite project completion and offered concessions to builders. Seen as a potential breakthrough, the Uttar Pradesh government adopted these recommendations, raising expectations for a resolution to the twin cities’ long-standing real estate crisis. However, a year since, not much has changed.
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[amitatap]

Noida Authority is the most corrupt organization in India. They have connived with builders earlier and taken hefty commissions. Now, that the builders are unable to pay them or cases under NCLT, they are not registering nor giving occupation certificate to home buyers. Yogi Govt can definitely intervene. They are completely responsible.

[ranjitshukla]

Pichle 10 year's se mera registry nahi huwa hain flat ka, Gaur city 7th avenue

[suvmatrix]

Jab builder ko sara paisa buyer ne de diya to authority aur builder ke issue ki wajah se buyer ko saja kyu di jaa rhi...jab koi builder norms follow nahi kiye aur building banae to authority so rahi thi??

[anubhav]

Even such builders get permission to launch new project

[hb-ssbs]

Authority as per UP govt policy awarded construction to builder, allotted land to builder. As per policy, home buyers paid land cost in every tranche of payment. Authority at fault not to chase funds siphoned by builder. Doubly wrong to ask home buyers land cost again😢

[guptakunall]

Yogi fans should watch it. Even in 7 years he couldn't help these lakhs of homeowners

[nitovatorsnitj]

This is the problem of Urban Middle Class. No one to listen to them & they do not have street power as well to organize a rent seeking protest like done by other classes. One's life time saving goes into buying a house!

[pratiush]

Really sad state of affairs, these builders should be named and shamed by ThePrint for the benefit of the future buyers in Noida

[vivekshivdasani]

They took home owners money and built a formula one race track. At that time nobody protested. Homeowners were busy booking flats in Greater Noida. Now go and occupy the formula race track and enjoy.

[sagarraheja]

Can we have a list of all the builders who are defaulters so no new buyers will again have to struggle

[gaganBhaisaab]

Republic of Banana.
Over centralisation Unaccountable bureaucracy is the bane of India.

[drrks]

15 years ago, builder used to get land by paying 10 percent of the land value. The builder diversify his business but didn't paid dues to the builder and the noida authority can't allow builder to execute sale deed without paying full payment to the authority. Now the authority gives land to the builder only after full payment. So now a days, new paid up land has no issues with the registration in the future.

[kunalr_ai]

Vvip home gaur City 2 ka registry nahi ho raha

[sakshambhadoria]

Real estate is plagued by patchy governance and subversion of laws, regulations by the big players in collusion with bureaucracy and political class. Litigation, red tape and compliance burden makes the waters muddy in this high stakes industry.

[atul_anand]

Are these problems only in Noida, or also in Delhi and Gurgaon?

[anupamsaxena]

People who are always looking for cheapest deal, always spend time in not getting anything.

[hb-ssbs]

UP govt accepted Amitabh kant report in a manner to give 2 yrs covid zero period to builder (no interesr for 2 yrs)
nothing for home buyers

request Up govt to give rebate on stamp duty

[ashishmaurya]

NBCC was introduced in Amrapali projects by Supremely Court and not by Government. Any government be its state or central govt never helped a bit in this matter. Even Supreme Court forced the govt and authority to take over Amrapali projects, but both bodies denied to takeover. Finally Supreme court assign NBCC forcefully (forcefully to govt and not to NBCC with threat to take action against government and to expose many national level politicians involved in Amrapali scam).
Anyways NBCC also denied to takeover the projects but after negotiations NBCC agreed to work as PMC (project management consultant) with profit margin of 10% of project cost which was again the higher cost than market rate of 5-6% charged by private PMC companies. But Supreme Court agreed to NBCC because it wanted peace of mind by allocating the role to a big company like NBCC.

[varun]

Its the classic case of ‘aa bail mujhe maar’. The same residents voted for a government in the state which colludes with builders. Most builders are party members themselves or their family members are. The builders will will fully default and live happily as they know there will be no strict actions against them other then time to time news paper articles. Who pays the price?

[Reducedworld]

Despite that property prices shot up to insane levels.
All because of profile funding and Brokers.
😂😂😂😂