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Builders miss CM's deadline, only 65% of delivery likely by December end

Posted: Dec 04, 2017     By Avishek Dubey

The three-minister committee appointed by the UP government to interface between builders and homebuyers struggling for possession made its first breakthrough on Monday. The committee, during the course of a meeting with builders and officials of Noida Authority, Greater Noida Authority and Yamuna Expressway Industrial Development Authority (YEIDA), declared that 32,500 flats would be delivered by the end of this month. 

The committee comprises industries minister Satish Mahana, urban housing minister Suresh Khanna and state minister (independent charge) Suresh Rana. 

In September this year, UP Chief Minister Yogi Adityanath had promised to deliver 50,000 apartments.

The ministers are questioning the failure to deliver the promised number of apartments. “We have questioned the builders and asked them to provide reasons. This is disheartening, since on our part, we have given them all the facilities and help to achieve the required numbers,” commented Suresh Khanna.

However, the authority stated that builders and co-developers are facing financial issues, due to which construction targets could not be met. Many developers have had to pay some pending dues to the authorities.

“After a fair estimation of available inventory, we found 32,500 apartments are almost complete. These apartments are awaiting final clearances that will be granted after they make small payments and fulfill some compliances,” Pankaj Bajaj, president of CREDAI [Confederation of Real Estate Developers Association of India] NCR, said.

Builders of Noida and Greater Noida have been facing the ire of the government and the buyers alike.

On September 12, the CM, in a meeting held in Lucknow, directed Noida, Greater Noida and YEIDA top officials to deliver 50,000 flats over the next two months.

Following his instructions, the two authorities (Noida and Greater Noida) have had several rounds of meetings with CREDAI, and asked them to submit a flat-delivery schedule. However, according to officials, it has been nearly three months and builders are still unable to submit a realistic action plan.

“These meetings have not addressed our woes. The government is not acting tough against errant builders,” said Abhishek Kumar, president, Noida Extension Flat Owners Welfare Association.

 

 

TAGS: Homebuyers / Possession / Developers / Noida Extension Flat Owners Welfare Association / CREDAI / Yamuna Expressway Industrial Development Authority / Greater Noida Authority / Noida Authority / Satish Mahana / Suresh Khanna / Suresh Rana / Yogi Adityanath

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