Paramount Floraville Clears ₹80 Crore Dues; 1,521 Homebuyers Closer to Registration

Noida, May 30, 2026 — Thousands of homebuyers at the Paramount Floraville Group Housing Project in Sector 137, Noida, are finally seeing a resolution to years of administrative hurdles. The developer has now cleared all dues owed to the Noida Authority, settling financial disputes that had stalled the registration process for 1,521 apartment buyers.

The settlement involved a payment of ₹80.48 crore to the authority, removing a major obstacle that had prevented many residents from obtaining formal ownership of their homes. The sprawling 12.375-acre residential complex comprises 16 towers housing a total of 1,521 units.

While 14 towers received occupancy certificates on March 10, 2015, financial disagreements between the developer and the authority led to prolonged delays in property registration for buyers. The remaining two towers were granted occupancy certificates on January 31, 2024.

The resolution came through the implementation of a system designed to address outstanding dues for stalled projects, following recommendations from the Amitabh Kant Committee, which was established by the Uttar Pradesh government. This framework aimed to ensure developers pay legitimate amounts due while rationalising accumulated interest and penalties.

The developer had been making payments to the authority "under protest" even as the matter remained pending in the High Court. Despite the ongoing legal dispute, the company proceeded with depositing the full outstanding amount and initiated the registration process, prioritising the interests of the homebuyers.

The Paramount Floraville project currently operates outside the regulatory scope of the UP RERA and no longer carries any outstanding financial obligations. Registration proceedings are now progressing without impediment, offering relief to families who have awaited ownership documentation for years.