GNIDA Issues Partial OCs for Builders Paying 25% Dues
NOIDA: The Greater Noida Industrial Development Authority (GNIDA) has authorized partial occupancy certificates for various stalled housing projects under the UP government’s rehabilitation policy, following the Kant committee’s recommendations aimed at reviving stalled real estate developments. So far, developers of 37 out of 98 halted projects in Greater Noida have paid 25% of their total dues, the minimum requirement to qualify for policy benefits, which include debt rescheduling and a waiver for defaults during the Covid pandemic. Under this new policy, developers who have made partial payments will receive occupancy and completion certificates (OCs/CCs) proportional to their payments, enabling the…