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representative imageNoida: Plan to resolve deadlock between stakeholders of group housing projects Noida, Greater Noida expected in two weeks, a senior Uttar Pradesh government official said on Monday. According to officials, a meeting of Noida Authority, Greater NoidaBank representatives and real estate developers were held on May 20 to discuss an action plan for “stuck” housing projects in the area.
An official who attended the meeting told PTI on condition of anonymity that during the meeting, some bankers also raised concerns over the declining viability of the sector in terms of future investments.
“A lot of housing projects in Noida, Greater Noida are stuck for a long time. Home buyers in many projects are waiting for the registry of homes for a long time,” the official said.
“The logjam is largely due to non-payment of dues by the builders to the local authorities, due to which the entire process of registry of individual houses is stuck,” the official said.
UP Industrial and Infrastructure Development Commissioner (IIDC) Manoj Singh said the meeting was held to discuss the stuck projects.
“In recent years, Noida has been an important area for investment not only in the state but also in the country,” Singh said.
“We have discussed the stalled projects and in two weeks we will come out with a plan to clear the impasse,” Singh told PTI.
According to official estimates, over 100 housing projects are stuck or delayed in the twin cities of Noida and Greater Noida, affecting lakhs of people.
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