The Noida authority officials said the move that extends the deadline for builders in developing their housing projects without a fee being levied on them will help the latter to complete more than 20,000 units.1

On December 3, 2019, the Uttar Pradesh government had approved a ‘zero-period’ scheme that enabled development authorities to give waivers on interest, penalties, and time-extension fees to builders in cases wherein land disputes or court orders had delayed housing projects. These benefits are meant for projects scheduled to be finished by June, 2021. The authority charges 1% of the land cost as time-extension fee if any developer wants to get an additional one year to finish the project.

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• 1. “We have given a total waiver of ₹225 crore in time-extension fee to 16 housing projects. The move will help in the delivery of 22,064 units in all these 16 projects,” said Ritu Maheshwari chief executive officer of the Noida authority. Work on these housing projects was disrupted due to court disputes over land, the authority said.