India, May 18 -- The Noida authority has decided to offer at least 30-40 per cent discount in interest that is piled up on the land cost dues earlier allotted to realtors, for industrial purpose, and other usages in the city, officials said on Sunday, the plan now awaits Uttar Pradesh government's go ahead.

The move aims to recover the dues and also pave the way for registry in the housing projects facing default of payment that poses hurdle in execution of registry thereby affecting the interests of thousands of homebuyers, said officials.

Currently there are at least Rs.40,000 crore financial dues to be recovered from different allottees including developers, industrial plot owners, commercial properties, and other land owners, said o...