UP may approve a special package for builders to waive penalties in the Okhla Bird Sanctuary case

The Uttar Pradesh cabinet may soon approve a special package for builders in Noida and Greater Noida as per the recommendations filed by the committee headed by former Niti Aayog CEO Amitabh Kant, CNBC Awaaz reported.

The report adds that the state government is all set to waive both penalties as well as interest imposed on builders for two years during the Covid-19 pandemic in the Okhla Bird Sanctuary case.

The committee has also advised the Yogi Adityanath-led government that three authorities — Noida, Greater Noida, and the Yamuna Expressway — should allow the registry of flats without asking the defaulter developers to clear land cost dues, as reported by Hindustan Times.

The committee has made multiple recommendations to the UP government and finally submitted its report on Monday, which will affect at least 1,67,000 homebuyers waiting for possession for almost a decade. The state government has forwarded the recommendations to the three authorities for deliberation and action.

The government will thereafter give its final approval to the report either in its original form or with some changes made.

“We will discuss the report in the upcoming board meeting scheduled on August 13 and take an appropriate decision. We will follow the UP government’s directive on its implementation,” said Lokesh M, CEO of Noida authority said to Hindustan Times.

The Kant-led committee has further recommended that Uttar Pradesh Real Estate Regulatory Authority (UP-Rera) must identify finished projects still waiting for their occupancy certificate only because of remaining dues by its developers.