Greater Noida Authority Engages Builders on Homebuyers Registry

13 May 2024 CW Team

The Greater Noida Authority recently convened a meeting with builders to deliberate on the implementation of a homebuyers registry. This initiative aims to enhance transparency and accountability in the real estate sector by creating a centralised database of homebuyers.

During the meeting, representatives from various construction firms exchanged views with the Greater Noida Authority regarding the establishment and operation of the homebuyers registry. The discussions revolved around the modalities of the registry, including data collection, maintenance, and accessibility.

The proposed registry is expected to provide a comprehensive platform for homebuyers to register their properties and track the progress of ongoing projects. It will also facilitate communication between builders and buyers, enabling better coordination and resolution of issues related to project delivery and possession.

The Greater Noida Authority emphasised the importance of collaboration between developers and regulatory bodies to ensure the successful implementation of the homebuyers registry. By fostering dialogue and cooperation, both parties aim to address the concerns of homebuyers and enhance confidence in the real estate market.

The initiative reflects the Greater Noida Authority's commitment to promoting transparency and accountability in the real estate sector. By establishing a centralised platform for homebuyers, the authority seeks to streamline processes and improve the overall homebuying experience.

Moving forward, builders and the Greater Noida Authority will continue to work closely to finalise the framework for the homebuyers registry and ensure its effective implementation. The initiative is poised to bring about positive changes in the real estate landscape of Greater Noida, benefitting both developers and homebuyers alike.

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