UP Panel Approves Interest Waiver to Revive Stalled Noida Projects
Wednesday, June 18, 2025
Menu
post-thumbnail

The Uttar Pradesh government has granted a second two-year zero-period waiver to 15 builders for the 2013-2015 phase when construction near Okhla Bird Sanctuary was halted due to an NGT ban..

This move, recommended by a UP government panel led by Amitabh Kant, aims to revive stalled projects in Noida. The waiver, covering interest and penal interest, is expected to reduce Noida Authority's dues by ₹182 crore and benefit homebuyers by expediting project completion. Several developers, including Laureate Buildwell, HR Oracle, and AIMS RG Angel Promoters, saw their dues completely waived, while others received partial relief. The waiver follows a 2023 scheme that cut dues significantly, with 27 developers opting into the relief package.

Share this Post