The Noida Authority has taken a significant step towards providing transparency to homebuyers by publishing a list of 115 housing projects on its official website. This list provides essential information to prospective buyers, helping them to make informed decisions.
The list reveals that 75% of the projects are on the defaulter list and are yet to receive occupancy certificates (OC). Builders of these projects owe the Noida authority approximately 26,000 crore rupees, while the Greater Noida authority is owed around 14,000 crore rupees. The total amount owed by these builders to the authority is approximately 40,000 crore rupees.
Out of the 115 projects listed, 15 are currently under proceedings at the National Company Law Tribunal (NCLT), while only 7 have temporary occupancy certificates. The remaining 61 projects do not have the required OC.
It is worth noting that 21 complete projects are yet to complete their registries due to outstanding dues, while the city also has 29 incomplete projects. This information will be useful for homebuyers to avoid potential fraud and delays in project completion.
The Noida Authority's move to provide such information on its website will help in promoting transparency and providing a fair deal to home buyers.