NOIDA: Around 100 homebuyers of the RG Luxury Homes project received their registries during a special camp organized by the Greater Noida Authority and the stamp and registration department on Wednesday. This event, held at the project site in Greater Noida West, marked the start of the registration process. Authorities have been prompted to arrange similar camps for other legacy projects to speed up the handover process.
After settling 25% of their dues with the Authority, the promoter was granted permission to commence unit registration in line with state government policy.
Initially launched in 2010 with a delivery date set for 2016, the RG Luxury Homes project faced construction halts due to a financial crisis in 2016. It was officially taken over by the National Company Law Tribunal (NCLT) in 2019. In February 2020, the court issued a reverse insolvency order, allowing the original promoter, RG Group, to complete the project under the oversight of the appointed insolvency resolution professional (IRP), Manoj Kulshreshtha.
Himanshu Garg, director of RG Group, stated that occupancy certificates for over 1,400 units have been secured. “We have started the registration process and aim to finish it before the festival season,” he noted.
