Noida Authority has said that if real estate developers accept the terms of the relief package, they will have to pay 25% of the total dues in the next 60 days. The Noida Authority has fixed February 22 as the last date for realtors to accept a waiver and clear their land cost dues in accordance with the terms of a realty policy, notified by the Uttar Pradesh government last December, officials in the know of the matter said on Thursday.

“We have fixed February 22, 2024, as the last date to accept the terms of the state government policy approved to address the issues in the stalled housing projects in Noida. If defaulter realtors fail to accept the terms by that date, we will act against them as per rules. If they accept the terms, then they need only pay 25% of the total dues against a stalled housing project in the next 60 days and the remaining over a period of one to three years,” said Lokesh M, chief executive officer, Noida authority.