GNA to builders: 'This is as FAR as you go'
Welcome To CitySpidey


GNA to builders: 'This is as FAR as you go'

Under a severe financial crunch, the Greater Noida Authority has warned builders that flouting the Floor Area Ratio and not paying land dues on time would only lead to seizing of illegal flats.

GNA to builders: 'This is as FAR as you go'

Greater Noida Authority is tightening the noose on builders violating the approved Floor Area Ratio (FAR) in the city. All sanctioned plans given to builders are being examined by the Authority and any additional flat found to be built flouting Authority rules runs the risk of being seized. FAR is described as the ratio of total floor area of the building to the area of the plot on which it is built. In Greater Noida the permitted FAR is 3.75.  

The Greater Noida Authority (GNA) has warned builders that it would action against those that have not paid their land dues. Officials have issued a last show-cause notice to Omaxe and Supertech, saying that their allotments would be cancelled if land dues were not cleared in 15 days.

At present, builders owe about Rs 20,000 crore to the GNA. Of this, the GNA was set to receive Rs 3,500 crore by March 31, but builders failed to pay up on time. Also, the GNA, while procuring this very land from the farmers, had taken a loan of Rs 7,000 crore from banks, for which it is paying a heavy interest rate. So, with no money coming in from builders and hefty loans to repay, it is no wonder that the GNA is now caught in a tight financial spot.

Rahul Sharma, a resident of Supertech Czar in Omicron 1 sector, told City Spidey, “The builders exceed the permitted FAR and refuse to pay the Authority on time. But the main sufferers are the buyers. They are clueless about which rules the builder is flouting and buy flats in their projects. Now when the GNA seals off those flats, what do the buyers do? They have already paid the builder in full.”

President of Federation of Greater Noida RWAs (FOGRWA), Elam Singh Nagar, echoed similar thoughts. “It’s not fair for buyers to bear the brunt of builders’ dishonesty. We will protest against both the builder and the GNA in that case. The buyers should not have to suffer for no fault of theirs,” he said.