Stalled Housing Projects in Noida Put on Fast Track

Torbit - April 28, 2024 - - 1 |
Stalled Housing Projects in Noida Put on Fast Track

Finally, the Supreme Court has put the construction of stalled Unitech housing projects in Noida on a fast track by directing the Noida Authority to grant approval and sanction to start the construction of a large number of these projects.

This judgment comes as a relief to thousands of homebuyers of stalled projects in Sectors 96,97, 98, 113, and 117 in Noida who have been waiting for more than a decade for the completion and delivery of their apartments as the money deposited by them was allegedly siphoned off by the developer. Due to this cheating, the court had barred the promoters of Unitech from running the company’s affairs. The central government, in order to protect the interests of the homebuyers had appointed a board of directors which has been running the company management. However, the construction remained held up for the company’s failure to clear the dues of Noida and Greater Noida Development authorities.

But now in its judgment, SC has ruled that the dues claimed by Noida Development Authority and Greater Noida Development Authority could be settled after the court passed the order after hearing both sides and in the meantime, the land-owning authorities should grant permission to start construction.

As the apex court has clearly said that for the purpose of protecting the interests of homebuyers, the construction of the stalled projects should start at the earliest, there is now a definite ray of hope for the aggrieved homebuyers.

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