Taxation

Uttar Pradesh govt to allow co-promoters soon in bid to complete stuck projects

The UP government in a bid to get the large volume of stuck projects completed in Noida, Greater Noida and Yamuna Expressway will soon allow co-promoters in projects Rajive Kumar said this is a fall-out of the 98-project audit that was taken of projects in the cities. Those that still have cash receivables from consumers or unsold units that can be sold or those that have unutilised land and so are Net Cash Positive can be taken through to completion with a co-developer. The authority will soon have a core committee meeting to assess the audit reports that are now completed and ready for review.

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