YIEDA mandates financial audit for housing projects
YIEDA mandates financial audit for housing projects
Avishek Dubey
YIEDA mandates financial audit for housing projects
Photo: Complianceandethics.org

YIEDA mandates financial audit for housing projects

To initiate financial audit of all housing projects, Yamuna Expressway Industrial Development Authority (YEIDA) has instituted a six-member, fact-finding committee under the guidance of advisor RM Saxena.

According to a YIEDA official, the committee will submit its report within two months to YEIDA chairman and Meerut commissioner Dr Prabhat Kumar.

The audit was proposed by Kumar himself.

Till date, YIEDA has allotted land for 28 projects. Buyers and investors of these projects are facing problems in terms of delayed delivery of flats. Their grievances led to the audit proposal.

“The committee comprises OSD Shailendra Bhatia, GM finance, GM project and GM planning. The six-member panel will undertake ground visits to evaluate the status of construction, payment or dues owed by builder to the authority, number of flats booked in the project, payments received by the builder from buyers, the proposed date of completion and delivery and other things,” an official confirmed.

Finally, buyers’ longstanding demand has been met at Kumar’s initiative.