India, Oct. 8 -- The Noida Authority has said that strict action will be taken against developers who have failed to adhere to the Uttar Pradesh government's policy on stalled housing projects. Officials told the Hindustan Times newspaper that the authority plans to attach and auction the assets of defaulting builders and take other measures under the policy to ensure homebuyers can complete their property registration.

There are hardly any developers left out of 57 who have used the provisions of the stuck projects policy properly to deliver justice to thousands of homebuyers. A total of 3,724 registries have taken place so far, and at least 5,758 apartments' registries could not be done due to the realtors' financial defaults in cleari...