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Uttar Pradesh RERA hires company to find a way out of land dues logjam

Dated on: Thursday 6th April 2023

The development authorities of Noida and Greater Noida and real estate corporations are at odds over legacy land dues of about Rs 39,000 crore. UP Rera has appointed a consultant who will produce a report in a month outlining potential resolutions. The deadlock has stalled registration processes in Noida's residential societies and resulted in additional issues like residents of buildings with incomplete amenities. Realtors have been requesting a refund for the punitive interest that has accumulated as a result of their repeated defaults. Developer delegations recently presented their requests to Manoj Kumar Singh, the newly appointed infrastructure and industrial development commissioner (IIDC), and Rajive Kumar, the head of UP Rera.

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