• By Nidhi Giri
  • Tue, 24 Jun 2025 01:22 PM (IST)
  • Source:JND

Noida News: The registry for 214 flat buyers of Lotus Boulevard Spatia Apartment of Cloud 9 Project Private Limited located in Sector-100 will now be done. The builder has also deposited 25 per cent of the total dues under stalled legacy. Once the builder withdraws his case from the National Company Law Tribunal (NCLT) and the court, the registry will be opened in the authority by including it in the stalled legacy, jagran.com reported.

The case that is in the High Court and Supreme Court is about the registry of Lotus Boulevard Spatia Apartment Owners Association. The actual case is in NCLT, in which Indusind Bank has filed a suit to recover its money. However, IRP has not been appointed in this case yet. The authority has also sought a complete status report from the builder.

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The builder can settle the case with the bank outside, which is likely to end this dispute. If this happens, the process of registration will be started. There are a total of 8 towers in the project. Occupancy (OC) has been issued for 5 towers, which have 366 flats.

Out of these 366 flats, 320 have been registered. 46 flats are yet to be registered. Construction of the other two towers has also been completed, which have 168 flats. Their Occupancy Certificate (OC) has not been issued. Occupancy Certificate (OC) will be issued as soon as the case is withdrawn. In this way, a total of 214 flats will be registered. These buyers will get ownership rights.

Rs 21.21 Crore Deposited Under Stalled Legacy

The builder deposited 25 per cent of the total outstanding amount of Rs 84,86,02,619 i.e. Rs 21,21,50, 655 by May 31, 2024. The builder had applied to the authority under the stalled project.

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The authority included this application in the board. The project is built in 40,087 square metres. Allotment was done in February 2009. The lease deed was done in June 2009. Under the scheme, 606 flats were to be built in 8 towers. Out of this, occupancy of 366 flats in 5 towers has been issued.

“The builder has deposited 25 percent of the outstanding amount of the project with the authority. Its proposal has been brought to the board and passed,” said CEO Dr. Lokesh M, CEO, Noida Authority.