New Delhi: In a huge relief for real estate and housing business in Gautam Buddha Nagar district of Uttar Pradesh, the Noida Authority, Greater Noida Authority, as well as Yamuna Expressway Authority cut down the interest rates on the outstanding dues of developers in order to boost construction of pending projects. Also Read - Uttar Pradesh Records Highest Single-day Spike of 1,338 COVID-19 Cases, 55-hour Lockdown This Weekend

In Noida, one of the satellite cities of Delhi, developers have been struggling for opportunities as the lockdown due to coronavirus pandemic suddenly halted businesses. Also Read - Noida: DLF Mall of India Roof Collapse Footage Goes Viral, Authorities Say 'Video is Old'

Property prices have been forced to lower the mark due to the trickling demand, although it profited savvy buyers and tenants who saw the limping market as an opportunity to crack a deal. Also Read - Use TrueNat machines, Increase Testing Capacity: UP CM Adityanath Orders Containment Plan For Gautam Buddh Nagar, Ghaziabad

Notably, 38 more COVID-19 cases were reported in Gautam Buddha Nagar on Tuesday evening, taking the total number of confirmed cases to 691, including 258 active cases, 423 cured and 10 deaths.