Noida: Meeting among Noida officials and Noida authorities greater, private developers and home buyers were held on Thursday to discuss the deadlock over a delayed flat registration.
The meeting was led by Sanjiv Kumar Mittal, infrastructure commissioner and industry development in the state.
At the meeting, the developer represents the credai and Naredco was asked to submit a new payment plan to the two authorities.
The problem of delay in the registry of the flat has moved back and forth between stakeholders for some time.
Thursday was the third meeting to end the deadlock in the past seven months.
The deadlock over the level of interest developers is billed by two authorities for payment that is delayed.
While the authorities have decided 11% interest, exacerbated every six months, the builder does not want to pay the amount.
As a result, the authorities have resisted the registry of flats, and it is a buyer bearing the burden.
This case has reached the Supreme Court.
“While the Supreme Court’s decision in connection with interest payments is awaited, we will formulate a policy after taking legal opinion.
The developer has been asked to come up with the temporary payment plan,” Mittal said.
In the coming days, developers will submit new payment plans to the authorities.
“They have not received our previous representation.
But we have received guarantees from the commissioner of immediate resolution,” said RK Arora, President Naredco.
Officials said builders would calculate land premiums and interests separately.
Land premiums will be calculated in connection with the flow of allotment while the interest component will be at a simple interest rate of 8%.
Until the Supreme Court announced the ruling of interest rates, the developers had asked Mittal to allow the flats registry to be proportional to the amount they paid.
Buyers, who have been stuck over the years, said the state government must intervene now.
“For the past half of the year, we have heard of several solutions.
But no one moves on the ground.
Nothing shows any belief in solving the problem,” said Dinbandhu Nayak, a flat buyer at the Civitech Stadia in Sector 79.