Over 5,000 flats delivered by Noida developers post lockdown : NAREDCO

New Delhi: The Uttar Pradesh chapter of National Real Estate Developers Council (NAREDCO-UP) has said that developers have started delivering projects post lockdown but RERA should give 12 month more to complete projects.

According to NAREDCO, its member developers Panchsheel Group has offered possession of 1100 units, Migsun has offered 1225 units, Supertech 1976 housing units , Sikka 250 flats and Trident group has given possession of 350 flats after the lockdown.

“Details of flats offered by other member developers are also being collected. There is optimism in real estate market as it is evident from the impressive booking numbers with all the developers,” said R K Arora, President, NAREDCO-UP.


Real estate sector witnessed several hurdles from labour shortage due to the pandemic and disturbance of material supply chain.

“With easing of lockdown, the speed of construction is increasing, and the buyers can now expect delivery of their flats early. Had the Authorities cleared in time the various approvals sought by the developers, construction would not have suffered to this extent,” Arora added.

NAREDCO said that approvals have been kept on hold by authorities on the pretext of non-deposit of land dues which have been wrongly and illegally inflated by them applying interest rates.