What's this ‘co-developers’ clause sneaked in by Amrapali? Homebuyers fuming!
What's this ‘co-developers’ clause sneaked in by Amrapali? Homebuyers fuming!
Ramesh Kumar
What's this ‘co-developers’ clause sneaked in by Amrapali? Homebuyers fuming!
Photo: Smartcity.eletsonline.com

What's this ‘co-developers’ clause sneaked in by Amrapali? Homebuyers fuming!

Noida Estate Flat Owners Main Association (NEFOMA), a homebuyers’ group, met Gautam Buddh Nagar district magistrate NP Singh on February 15 to protest against the insertion of the co-developers clause by the Amrapali Group.

Annu Khan, president of the association, handed over the letter of protest to Singh.

It alleged that Anil Sharma, CMD of the Amrapali Group, wanted to bring in a co-developer for all the under-construction housing projects in the city. These co-developers would be assigned the responsibility of completing the ongoing projects, as, owing to a financial crunch, the group was not in a position to complete them.

The inclusion of a third party in the name of co-developers will relieve the realty group from the responsibilities a builder has. It will also no longer be responsible for the promises it had made to homebuyers while signing the sale and purchase agreements.

More pertinently, the group proposes to appoint its own employees as co-developers — but they, too, are cash-strapped.

Khan urged the district administration to initiate appropriate action against the builder, and asked him to order the builder to speed up work on all the delayed housing projects in the city.

Homebuyers insisted that the district magistrate convene a joint meeting of the builder, CREDAI, the apex body of private real estate developers, and the Authority to put an end to the problem. 

 

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