Noida 30th May 2026: There’s significant relief for 1,521 homebuyers of the Paramount Floraville Group Housing Project in Sector 137, Noida. The project, which had been mired in administrative difficulties for a long time, has now become clearer. The developer, in coordination with the Noida Authority, has settled all outstanding liabilities related to the project, removing obstacles related to registration and ownership. The developer paid ₹80.48 crore to the authority.
Sprawling across approximately 12.375 acres, this residential project comprises 16 towers, comprising 1,521 flats. Fourteen towers received occupancy certificates on March 10, 2015, but financial disputes with the authority caused some buyers to wait for extended periods for registration. Through coordination between the developer and the authority, the project has now been resolved. Occupancy certificates for the remaining two towers have also been issued on January 31, 2024.
It has been reported that the developer was already making payments to the authority “under protest.” Meanwhile, a system for settling outstanding dues for stalled projects was implemented, in accordance with the recommendations of the Amitabh Kant Committee, constituted by the Uttar Pradesh government. Its purpose was to ensure payment of the actual amount due by rationalising interest and penalties. Under this system, the developer paid all outstanding dues and resolved the remaining dues, directly benefiting buyers.
The Paramount Floraville project is currently not under the purview of the UP RERA and no longer has any outstanding financial dues. The previous dispute with the authority regarding outstanding dues had reached the High Court, which is still pending. Despite this, the company, prioritising the interests of buyers, deposited the outstanding amount “under protest” and initiated the registration process, which is now proceeding smoothly.
This initiative has given hope to families who have been waiting for the registration of their homes for years to soon receive ownership of their homes.
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