40% of registered apartments in Noida receives completion certificates

Data recently released by the Noida Authority on its website show the breadth of the city's flat registry impasse, as many homebuyers find themselves unable to obtain deeds for their properties due to the standoff between builders and the government over unpaid dues. Data demonstrates that just 56,790 (or almost 40%) of the 1.3 lakh units sanctioned in 115 projects in the city up to 2016–17 are registered. 89 (77%) of the 115 projects with approved blueprints are in arrears and owe a combined total of Rs 26,000 crore in back taxes. Only 24 projects have completed all payments, and two have been abandoned. Only 15% of the 24 projects that have been approved in the city that was once well-known for its real estate boom have gotten completion certificates. When all amenities are finished and the requirements of the licence are satisfied, a completion certificate is given. The findings are not surprising given that protests are frequently held on weekends in one community or another over facilities that are incomplete or fall short of the original promise. In Noida, no new housing developments were approved between 2016–17 and 2021–22. This fiscal year, a number of new projects have been approved but have not been taken into account. 46 residential projects in sectors 78, 79, 101, 150, and 152 that were approved as part of the Sports City programme are not included either. The licence requirements aren't met until the construction of the sports facilities that were supposed to be the centre of a neighbourhood of residential buildings, so registrations cannot take place here either. Also read: JP Taparia family buys the most expensive triplex flat in India in SOBO Indore Development Authority invites developers for PPP project