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Greater Noida's development authority has recently begun granting partial occupancy certificates to developers who have cleared a quarter of their pending dues under the state's rehabilitation policy. This initiative enables builders to hand over the completed portion of units, giving hope to home buyers long held back by registry delays. The move stems from earlier committee recommendations and seeks to unlock stalled registrations. While buyers await further clearances, supportive policies from state and central levels continue to shape the revival of unfinished real estate projects in Greater Noida.
The Greater Noida Industrial Development Authority has begun issuing partial occupancy certificates to developers who've cleared 25 percent of their outstanding dues under the state's rehabilitation policy, a measure that had been derived from the committee led by Amitabh Kant. This policy allows builders who have made partial payments to obtain occupancy and completion certificates proportional to the units completed, enabling them to hand over ready flats to buyers even before full dues are settled. Advertisement
Greater Noida stands out for having the highest number of stalled housing projects nationwide. Many flats remain unregistered because builders, in default on payments, cannot issue final registry documents, leaving buyers in limbo as they juggle both EMIs and rent. Credai West UP's secretary has noted that once the occupancy certificates are granted, developers will be able to send out the outstanding demand notices to flat allottees, kickstarting the payment cycle which, in turn, helps clear instalments due to the authorities and construction funding channels.
These partial certifications reflect a larger relief package launched by the Uttar Pradesh government in late 2023 after considering Amitabh Kant committee recommendations. Under this package, benefits include rescheduled debt payments and a waiver of default interest for setbacks such as the COVID-19 pandemic.
As background, the rehabilitation policy also contemplates measures like allowing co-developers into stalled projects, enabling partial plot surrender, and setting up RERA-monitored revival processes and zero-period interest waivers for legacy projects. These reforms aim to address mounting dues GNIDA alone reports over INR 14,000 crore in developer liabilities.
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