At a meeting between Noida Authority and CREDAI, builders said they were unable to complete the construction work of their projects owing to financial crunch.
Noida Authority officials called a meeting with members of Confederation of Real Estate Developers Associations of India (CREDAI) today to discuss the issues being faced by homebuyers. The meeting was chaired by Amit Mohan Prasad, CEO of Noida Authority.
Builders told the officials that they were unable to complete the construction work of their projects owing to financial crunch.
Manoj Gaur, president of CREDAI, told City Spidey that the meeting was a success. "All builders have to submit their project completion plans to the authority within four days," said Gaur.
An Authority official told City Spidey that the builders had been told to submit a flat delivery plan for 3, 6 and 8 months.
Here are a few outcomes of the meeting:
Photo: Avishek Dubey