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UP government issues guideline for revival of stuck projects

The state government has said that builder taking benefit of the policy wont be able to charge any amount from the buyer so that the benefit provided by the government reaches to the homebuyer. UP cabinet on Tuesday gave approval to recommendations of a committee chaired by former NITI Aayog chairman and Indias G20 Sherpa Amitabh Kant, which is expected to infuse new life into more than 200,000 stalled flats in Noida, Greater Noida, and the Yamuna Expressway region, said property developers and industry experts. ....

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Stuck housing projects: UP may bring rehabilitation package, suspend penalties on developers to revive units

A meeting of senior officials last week also discussed partial surrender of projects to recover dues and introduction of zero period of four years. The state cabinet will take a final decision after consulting the Centre. ....

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