Good news for Noida Homebuyers! In a recent development, the district authority has given its approval to issue flat-wise occupancy certificates in the under-construction housing projects. The decision will not only speed up the flat registration process in already delayed projects but will also help homebuyers in timely possession of their homes.
The approval was given in the 197th board meeting of the Noida Authority.
Earlier, the occupancy certificates were given based on tower-wise completion, but with this move now even if a developer will complete 10 flats in a tower which has a total of 100 apartments, the authority will issue OCs to these 10 units, allowing owners to apply for registries.
Giving more information on the above, Rajesh Kumar Singh, OSD to the Authority said, “The authority has taken this decision to help the distressed buyers who are facing delayed delivery of their homes, as the developer of their project has not cleared all the dues. But with this, now buyers can easily get their flat registered faster.”
He further said that the decision will help more than 4,000 flat owners across 20 projects in Noida.
Welcoming the move, Abhishek Kumar, President, Noida Extension Flat Owners’ Welfare Association (NEFOWA) said, “The main advantage of a flat-wise OC-CC system is that the buyer would get to sell his flat easily in the market. We welcome this move by Noida Authority and urge the Greater Noida Authority to replicate the same.”
The authority has also extended the deadline for clearing dues by the builders from August 31 to November 30.
To speed up the property registration process, the Noida Authority has also decided to issue occupancy and completion certificates online. With this, now a developer can easily apply and receive both Occupancy and Completion certificates online by paying a processing fee.