Noida: Around 200 homebuyers who have been waiting for years to get their flats at Lotus Boulevard Espacia registered could finally get relief, as the developer has paid a portion of its dues and said it is willing to settle court disputes to avail Uttar Pradesh’s rehabilitation scheme.
The developer, Cloud 9 Projects, deposited Rs 21crore with Noida Authority in April this year, and this amounts to 25% of its dues after accounting for relief during the Covid period. A month later, Cloud 9 said it was negotiating with IndusInd Bank, a financial creditor which had filed a petition to initiate insolvency proceedings against the developer.