+
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.

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
Real Estate

MoHUA Sanctions 1.47 Lakh Additional Houses Under PMAY-U 2.0

In a major push towards the Government’s Housing for All mission, the Ministry of Housing and Urban Affairs (MoHUA) has approved 1,46,582 additional pucca houses under Pradhan Mantri Awas Yojana – Urban 2.0 (PMAY-U 2.0) for 14 States/UTs, bringing total sanctions under the revamped scheme to 8.56 lakh.The decision came during the fourth meeting of the Central Sanctioning and Monitoring Committee (CSMC), chaired by Srinivas Katikithala, Secretary, MoHUA, at the Ministry’s Kasturba Gandhi Marg office. Senior officials, State Principal Secretaries, and PMAY-U Mission Directors participated ..

Next Story
Real Estate

Piyush Goyal Inaugurates Expanded ISA Building at Intellectual Property Office

Union Minister of Commerce and Industry, Piyush Goyal, today inaugurated the newly expanded International Searching Authority (ISA) building at the Intellectual Property Office (IPO) in Dwarka, New Delhi, marking a major step forward in India’s intellectual property ecosystem.Addressing the gathering, Goyal highlighted that innovation has been central to India’s heritage for centuries, citing the engineering brilliance of the Konark Temple as a historic example. He emphasised that innovation is not just intellectual property but a symbol of sovereignty, and a key driver in India’s journe..

Next Story
Real Estate

SIEGER Boosts Automation in Mumbai Realty

SIEGER, a leading automation solutions provider, is expanding its advanced manufacturing capabilities to meet the surging demand for precision, high-speed automation in Mumbai’s rapidly growing real estate sector.Operating from a 21,000 m² advanced production hub in Coimbatore—part of a 40,000 m² integrated campus—SIEGER offers complete solutions from design and prototyping to manufacturing and deployment. The fully digitalised facility features CNC machining, QR-coded component tracking, conveyorized powder coating, and a Government of India–certified R&D centre, ensuring unmatc..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?