The stamps and registration department hosted a special camp at Eldeco Aamantran in Sector 119, Noida, where 81 flats were registered, generating INR 2.4 crore in revenue. The developer chose not to participate in the UP-government's rehabilitation scheme due to low outstanding dues. Homebuyers expressed joy at receiving their registration papers, likening it to an early Diwali celebration. Nikhil Singhal, president of the apartment owners' association, noted that 950 out of 1,260 flats had been registered, with 310 still pending. The department plans additional camps, with the next one scheduled for October 22 at Great Value Sharanam in Sector 107.
The stamps and registration department held a special camp on October 19 at Eldeco Aamantran, Sector 119, Noida, where 81 flats were registered, generating INR 2.4 crore in revenue. Officials indicated that the developer opted out of the UP-government's rehabilitation scheme for stalled projects due to the relatively low outstanding dues. The camp was organized to align with the state's initiative to provide doorstep property registration services.
Homebuyers who received their papers expressed that it felt like an early Diwali celebration. Nikhil Singhal, the president of the Eldeco Aamantran apartment owners' association, told reporters at ET Realty that construction had commenced in 2006-07, with possession beginning in 2019. He mentioned that out of 1,260 flats across 14 towers, 950 had been registered by the developer, while 310 were still pending due to unpaid dues to the Noida Authority. Singhal revealed that they had met with Chief Minister Yogi Adityanath twice, and he had assured them that the issue would be resolved.
BS Verma, the assistant inspector general of stamp and registry, mentioned that they organized the camp in response to the state government's orders for doorstep property registrations. He explained that the initiative aimed to assist flat buyers who had settled their dues but had been waiting for years to complete the registration process. A total of 81 flats were registered, and he noted that they would arrange more such camps in the future. Residents expressed their relief over the development, describing it as an "early Diwali."
Officials explained that Eldeco Aamantran's outstanding dues were minimal, which disqualified it from the rehabilitation package that provides a two-year relief on interest and penalties for developers impacted by the Covid-19 lockdowns. Of the 57 defaulting projects in Noida, only 29 opted for the package. From February 26 to October 18, 2024, the department registered 5,925 flats in Greater Noida and 1,627 in Noida under this initiative. The next registration camp is scheduled for October 22 at Great Value Sharanam in Sector 107.
The successful registration camp at Eldeco Aamantran marks a significant step toward resolving the longstanding issues faced by homebuyers in Noida. With many residents finally receiving their property papers, the event not only symbolizes progress but also highlights the importance of governmental initiatives in facilitating property registrations. The commitment from the developer to settle dues demonstrates a positive shift in addressing financial obligations. As the department plans future camps, this proactive approach could pave the way for smoother processes and increased homeowner satisfaction. The anticipation surrounding the upcoming registration camp reflects the ongoing demand for effective solutions in the real estate sector.
Advertisement
Facebook
Whatsapp
