SC Ruling Unlocks Lotus 300 Registrations in Noida

In a landmark decision, the Supreme Court has directed the Noida Authority to initiate flat registrations at the long-delayed Lotus 300 project in Noida’s Sector 107, marking a significant breakthrough for homebuyers after more than a decade of uncertainty. The ruling, which upheld an earlier order by the Allahabad High Court, allows registrations to proceed irrespective of the developer’s pending land dues, bringing long-awaited relief to buyers who have been in limbo since 2010. The Noida Authority commenced registrations on Thursday, successfully completing the process for 16 of the 102 pending flats in the project’s initial phase, with more scheduled to follow.

The journey for Lotus 300 homebuyers has been one of repeated delays and legal battles. Originally allotted in 2010 to Hacienda Project Private Limited (HPPL) on 17 acres in Sector 107, the project involved six towers and a promised timeline of 39 months. By 2017, the developer, HPPL, completed only four towers, leaving the remaining two unfinished, and failed to deliver essential amenities, sparking discontent among buyers. With Rs 636 crore collected from 330 homebuyers, the failure to complete the project led to complaints of financial mismanagement. In 2018, affected residents lodged a complaint with Delhi Police’s Economic Offences Wing, accusing HPPL’s directors of fraud, breach of trust, and criminal conspiracy.

In light of insolvency proceedings, which began in November 2022, the Supreme Court’s directive is seen as a pivotal moment in securing property rights for homebuyers. Bhuwan Chaturvedi, president of Lotus 300’s Apartment Owners Association (AOA), described the beginning of registrations as a “major victory” for homebuyers, signalling the end of an 11-year battle for property ownership. Chaturvedi noted that the interim resolution professional travelled from Hyderabad to oversee document verification, ensuring the validity of allotment letters, builder-buyer agreements, and possession certificates for the initial 16 flats. As registrations proceed, the resolution professional is expected to return for further rounds, allowing more owners to secure their properties in the upcoming weeks.

To ensure smooth facilitation of the remaining towers, the Noida Authority has appointed a senior manager as a nodal officer, tasked with expediting the issuance of occupation certificates (OC) and completion certificates (CC). This move is aimed at supporting sustainable development and instilling confidence in the real estate sector. In the next 15-20 days, authorities expect to conclude the paperwork required for the remaining flats, making it possible for all 330 buyers to officially register their homes. Civic activists and urban planners argue that accountability and effective oversight are essential to preventing similar setbacks in future projects, fostering a more reliable, transparent environment for buyers and sustainable urban development.

The Supreme Court’s intervention highlights the need for regulatory reforms to protect homebuyers from prolonged legal and financial ordeals. By holding developers accountable and prioritising buyer interests, this decision sets a precedent in addressing the needs of urban populations seeking dependable housing options. With rising urbanisation in cities like Noida, establishing robust regulatory frameworks and sustainable practices in the real estate sector is critical to maintaining long-term trust and encouraging future investments.