Delink registries from land dues, UP-RERA suggests stating the government

Delink Registries from Land Dues: UP RERA Suggests, Stating the Government

The Uttar Pradesh Real Estate Regulatory Authority has recommended to the state government that the registry of flats in completed real estate projects should be delinked from the dues builders owe to the Noida and Greater Noida authorities so that homebuyers can get relief.

A stalemate between development authorities and builders over Rs 39,000 crore land dues has kept nearly 40,000 homebuyers in the two cities waiting for the registry of their flats for years.

In its report on the status of real estate projects and measures to revive them, UP-Rera suggested Noida and Greater Noida authorities have the power to recover dues by seeking security in other projects or personal assets of the developers, or by issuing recovery certificates.