India, April 1 -- Noida authority has said that it has given permission for the registry of a total of 13,639 apartments after real estate developers of 35 housing projects gave their consent to clear their financial dues. To obtain permission for registry of ready apartments, developers have agreed to pay Rs.552 crore worth of financial dues that is 25 percent of total dues of Rs.2000 crore.

The Noida authority issues permission for registry after a developer pays 25% of their total dues as per the policy approved by the UP government on December 21, 2023.

Under the policy developers get waivers on penal interest for two years for the Covid-19 period and also for the period when the construction work was halted due to the court orders....