Noida news: 42 realtors to clear dues, allow registry of stalled housing projects
High demand for ₹1 crore homes; Over 10,000 units sold in Delhi-NCR in Q1 2024 In December 2023, the Uttar Pradesh government asked Noida development authorities to register within 90 days all flats that are mire in legal cases. Under the UP government policy, registration of stalled flats can start after the builder pays 25% of dues and the remaining 75% to be paid in the next one to three years.
Until April 9, 15 relators paid dues and got permission for the registry of 1,400 apartments. Noida authority gives permission to process registries of 13,600 apartments HT report mentioned that Paramount Propbuild Private Limited paid ₹8.10 crore for their housing project located in Sector 137; Omaxe Buildwell Limited paid ₹11.45 crore as 25% dues, PAN Realtors Private Limited paid ₹4 crore out of total dues of ₹37.69 crore in Sector 70, Noida and SDS Infratech Private Limited paid ₹9 crore out of ₹18.43 crore of dues in its project located in Sector 45.
Q4 Results Preview: Pre-sales to moderate on new launch delays, says Motilal According to the Confederation of Real Estate Developers' Association of India (CREDAI), Indian real estate will have a significant impact on the Indian economy in the coming years. The real estate sector is estimated to reach a market size of $1.3 trillion by 2034 and $5.17 trillion by 2047, according to a report by realtors body CREDAI.
The current market size of Indian real estate is ₹24 lakh crore of which 80% is of residential segments. CREDAI has projected that there will be 7 crore units of additional housing demand by 2030.Milestone Alert!
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