Currie & Brown, an international auditing agency, to submit audit report of 25 builders to the Greater Noida Authority by next week.
The Greater Noida Authority has asked Currie & Brown, an international auditing agency, to audit the accounts of 25 builders in the first phase. According to an official of the Authority, owing to the financial crunch in these projects around 50,000 homebuyers are suffering.
"The audit of the builders is being conducted on 11 points. Some of these points include builders' current financial capacity, funds collected from buyers, land bank and money spent on construction and other purposes," the official informed.
"Last week, the agency had given a presentation of the audit report of eight builders to the chief executive officer of Greater Noida Authority, Debasish Panda. And the final report will be submitted by the agency by next week," the official said.
In November 2017, the authority had hired Currie & Brown to audit accounts of errant builders in a bid to ascertain if they had diverted the funds collected from homebuyers.
On September 12, Chief Minister Yogi Adityanath had directed the chief executive officer of Greater Noida Authority to audit builders who have failed to deliver flats to homebuyers.
The directive came after homebuyers' demanded an audit of all the builders who had sold flats to them. Many of these flats could not be handed over because the funds collected against them were allegedly diverted to other projects.
There are a total of 203 realty projects in Greater Noida and among these nearly 80 are in a critical state. This has affected thousands of homebuyers who have not got their flats on time.