Noida Authority: 20 Builders Paying 25% Dues
Real Estate

Noida Authority: 20 Builders Paying 25% Dues

According to the Noida Authority, approximately 20 builders involved in stalled projects have made payments covering 25% of their outstanding dues. This development signals a positive step forward in addressing the challenges posed by stalled real estate projects in Noida and offers hope for their eventual completion.

The payments made by these builders represent a significant contribution towards resolving the financial obligations associated with stalled projects. It demonstrates their commitment to fulfilling their responsibilities and mitigating the adverse impact of stalled projects on homebuyers and the real estate sector.

The Noida Authority's announcement comes amidst ongoing efforts to revive stalled projects and provide relief to affected homebuyers. By facilitating partial payments from builders, the authority aims to expedite the resolution process and facilitate the completion of stalled projects in a timely manner.

The progress reported by the Noida Authority reflects the effectiveness of its efforts to engage with builders and facilitate negotiations to resolve financial disputes. It also highlights the collaborative approach adopted by stakeholders to address the challenges facing the real estate sector in Noida.

While the payments made by builders represent a positive development, there is still work to be done to address the remaining dues and ensure the timely completion of stalled projects. The Noida Authority remains committed to supporting homebuyers and facilitating the resolution of stalled projects to restore confidence in the real estate market.

Your next big infra connection is waiting at RAHSTA 2025 – Asia’s Biggest Roads & Highways Expo, Jio World Convention Centre, Mumbai. Don’t miss out!

According to the Noida Authority, approximately 20 builders involved in stalled projects have made payments covering 25% of their outstanding dues. This development signals a positive step forward in addressing the challenges posed by stalled real estate projects in Noida and offers hope for their eventual completion. The payments made by these builders represent a significant contribution towards resolving the financial obligations associated with stalled projects. It demonstrates their commitment to fulfilling their responsibilities and mitigating the adverse impact of stalled projects on homebuyers and the real estate sector. The Noida Authority's announcement comes amidst ongoing efforts to revive stalled projects and provide relief to affected homebuyers. By facilitating partial payments from builders, the authority aims to expedite the resolution process and facilitate the completion of stalled projects in a timely manner. The progress reported by the Noida Authority reflects the effectiveness of its efforts to engage with builders and facilitate negotiations to resolve financial disputes. It also highlights the collaborative approach adopted by stakeholders to address the challenges facing the real estate sector in Noida. While the payments made by builders represent a positive development, there is still work to be done to address the remaining dues and ensure the timely completion of stalled projects. The Noida Authority remains committed to supporting homebuyers and facilitating the resolution of stalled projects to restore confidence in the real estate market.

Next Story
Infrastructure Urban

AXISCADES Subsidiary Bags $1m Pilot Orders From Hyperscalers

AXISCADES Technologies Limited announced that its subsidiary, Mistral Solutions Private Limited, has secured pilot contracts worth around USD 1 million (Rs 83 million) from two of the world’s largest hyperscalers.Though modest in scale, the company highlighted that the deals are strategically significant, offering annuity revenue streams and the potential for exponential growth.As part of the initiative, Mistral will:Develop production line testing equipment for global contract manufacturers linked to one hyperscaler.Build development test apparatus for audio products associated with the oth..

Next Story
Infrastructure Energy

Andhra Pradesh Fast-Tracks Rs 149.6 Billion Power Network

Andhra Pradesh Energy Minister Gottipati Ravi Kumar announced on Wednesday that the state is accelerating a Rs 149.6 billion transmission network expansion to meet rising electricity demand.At a review meeting with APTRANSCO officials, the minister stressed the need for quality execution, strict monitoring, and timely delivery of projects across the 400 kV, 220 kV, and 132 kV grids. He set a goal of completing Rs 60 billion worth of projects by 2027, with regular reviews to address implementation challenges.Priority will be given to port-linked infrastructure, industrial zones, and the capital..

Next Story
Infrastructure Energy

PSA Mumbai Doubles Capacity to 4.8m TEUs With Phase 2

Prime Minister Narendra Modi and Singaporean Prime Minister Lawrence Wong on Thursday virtually inaugurated Phase 2 of the Bharat Mumbai Container Terminal (PSA Mumbai), developed by PSA International at the Jawaharlal Nehru Port Authority (JNPA) in Navi Mumbai.With the commissioning of Phase 2, PSA Mumbai has doubled its annual handling capacity to 4.8 million TEUs, making it India’s largest container terminal. The terminal, spanning 2,000 metres of continuous quay length, has been designed to handle multiple mega container vessels simultaneously, supporting both domestic and global trade f..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?