Buyers Suffer As Noida Builder Fails to Get OC, Register Property

Buyers Suffer As Noida Builder Fails to Get OC, Register Property

Buyers Suffer As Noida Builder Fails to Get OC, Register Property
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Those who invested in real estate company Omaxe's Grand Omaxe project in Noida’s Sector 93B were promised "easy connectivity, healthy environment and ambiance, superior design, high quality of construction and high-quality neighbourhood". The project was started in 2008, and about 300 residents have been living at the luxury housing society since 2012 that boasts a state-of-the-art club, swimming pool, gym, sauna, steam, Jacuzzi, a snooker pool & squash room, a multi-cuisine restaurant and cafeteria, etc. According to the company website, the project is “delivered” and “residents have already begun to enjoy the luxury” of the project.

However, those living in the 300 of the total 1,320 units spread across 22 towers technically are illegal occupants, despite the fact that they claim to have made all payments to the builder. Reason — the builder has neither received an occupancy certificate (OC) form the Noida Authority to give possession nor has it registered these units yet.

It is worth mentioning here that developers are legally bound to receive occupancy certificates for their projects before giving possession to flat owners. Under the provisions of the law, a resident cannot claim ownership of a unit legally till the property is registered in their name.

Now, there are no chances of the developer receiving the OC till it clears dues to the tune of Rs 250 crore it owes to the Noida Authority. The land on which the project is built along the Noida-Greater Noida Expressway belongs to the Noida Authority.

Hearing the petition of a resident who moved court over non-registry of units, the Allahabad Court on March 23 directed the Noida Authority not to issue OC to the developer.  The HC has also directed the authority not to issues OCs for other projects by the builder that falls under its jurisdiction. It is worth mention here that Oxame has another project, Forest Spa, in the same sector. Despite the fact that the project has yet to be completed, 60 per cent of the units in this 216-flat housing society are already occupied.

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