Greater Noida Authority to Recover ₹315 Crore from 14 Builders
The Greater Noida Authority will recover ₹315.5 crore pending dues from 14 defaulting developers, a move expected to benefit thousands of homebuyers awaiting flat registrations and possession.
- Recovery Certificates to be issued against 14 builders
- ₹315.5 crore in pending dues to be recovered
- Over 8,800 homebuyers may get relief
Saumya Srivastava, Additional Chief Executive Officer of the Greater Noida Authority, said that despite multiple opportunities and policy support, these developers failed to find a resolution within the framework provided by the committee. She stated that the District Magistrate has ordered the issuance of Recovery Certificates to recover the authority’s dues and help resolve issues faced by homebuyers.
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The move is significant because thousands of buyers have been waiting for years to receive possession of their homes or complete property registrations. According to the authority, nearly 98 stalled projects involving around 60,000 homebuyers were affected in Greater Noida.
Following the implementation of the Amitabh Kant Committee recommendations in June 2024, developers deposited ₹1,592 crore, enabling more than 25,000 property registrations. However, projects linked to the 14 defaulting builders remain unresolved.
Going forward, the recovery process will be handled through legal mechanisms available to the district administration. Industry bodies, including the Confederation of Real Estate Developers’ Associations of India (CREDAI) Western Uttar Pradesh chapter, have indicated that they will engage with the concerned developers to explore possible solutions.
Authorities hope the recovery action will speed up registrations, improve project completion prospects, and provide long-awaited relief to affected homebuyers.
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