Supreme Court – A decision of the Supreme Court has given a blow to the builders of Noida-Greater Noida, while the flat buyers have got a big relief. , With this decision of the court, now the way for the registry of 40 thousand flat buyers will be cleared. Let’s know this update in detail…
Relief news has come from the Supreme Court for the flat buyers of Noida-Greater Noida. Taking a blow to the builders, the Supreme Court has rejected their petition. Shocking news has come from the Supreme Court for the builders who have not paid the money after taking the land from the Noida and Greater Noida authorities.
At the same time, 40000 flat buyers of Noida-Greater Noida will get relief from this news. The Supreme Court has ordered the builders to repay the money with interest. After this order, now both the development authorities i.e. authority will have to pay the dues of Rs 19301 crore. It is also important to know how this news is a relief for flat buyers.
Relief to the buyers from the Supreme Court’s decision-
The Supreme Court has reprimanded the builders of Noida-Greno and their recall petition has been rejected. The builders had demanded restoration of 8 per cent interest rate, which was rejected by the court. The decision of the Supreme Court has cleared the way for recovery of Rs 19301 crore dues of Noida-Greno Authority. At the same time, 40000 flat buyers will get relief from this.
Registry path clear-
Showing strictness against the builders, the Supreme Court has directed them to clear the dues. Court’s decision will clear the way for the stalled registry of flat owners. Completion certificates will be issued to the authorities as soon as the dues are cleared by the builder. The flat of that project can be registered only after the completion certificate.
This certificate will not be given until the incomplete work of the project is completed. The authority will issue the completion certificate to the builder for his project after he clears the dues. That is, after the Supreme Court, along with recovery from the builder, the way for the registry has been cleared.
Relief to buyers
Manish Kumar, vice-president of Nefova, an organization working in the interests of flat buyers in Noida-Greater Noida, said that flat buyers are going to get a big relief from this decision. The arbitrariness of the builders will be curbed. Flat buyers will be able to get the ownership rights of their houses. After the registration, they will be able to sell their flat easily if needed. Such flat buyers are currently unable to do so due to lack of registry.
You can avail the benefits by getting the loan transferred-
Manish told that there are lakhs of buyers in Noida, Greater Noida, who have taken home loans from private finance companies. They have to pay interest at high rate. In the absence of registry, they are not able to get their home loan transferred to other government banks or private banks even after wanting to. There are less interest on home loans as compared to these finance companies, but due to lack of registry, they are in compulsion. He told that after the decision of the Supreme Court, the arbitrariness of the builders will be curbed.
They will now have to pay the dues on the terms of the authority. Even if the builder becomes insolvent, the authority will pay it by selling his property. The dispute between flat buyers and builders in Noida-Greater Noida has been going on for a long time. This decision of the Supreme Court is a Holi gift for the home buyers.
