The authority has identified 51 builders for the agency to work on. The audit is meant to ascertain whether the listed builders have diverted funds collected from homebuyers.
Alok Tondon, Noida Authority CEO, has asked Currie & Brown, a private international consultancy firm hired to audit the accounts of defaulter builders, to wrap its work within 45 days.
According to an official of Noida Authority, the agency has finished the audit of only 12 builder accounts. The agency had begun its work in November 2017.
Noida Authority has identified 51 builders for the agency to work on. The audit is meant to ascertain whether the listed builders have diverted funds collected from homebuyers.
“Currie & Brown will submit its report on the audit of the 12 builders next week. After the report is submitted, the agency will begin the audit of the remaining 39,” the CEO said.
Besides submitting the report next week, the consultant will also present a detailed presentation to the authority.
This step came after homebuyers demanded an audit of the builders who delayed possession inordinately. They alleged that builders could not hand over possession because funds collected against flats were diverted to other projects.
UP CM Yogi Adityanath had directed the CEOs of Noida, Greater Noida and Yamuna Expressway authorities to conduct an audit of builders’ account.
“There are a total of 94 stuck housing projects in Noida, with more than 50,000 homebuyers,” a Noida Authority official confirmed.
“Of the 94 builders, the authority decided to audit the accounts of 51 builders. We had asked Currie & Brown to start with 12 builders and now it will continue with the remaining,” he added.