Housing projects
Photo: City Spidey
Noida authority to release list of reliable and defaulting builders

Posted: May 14, 2018     By Avishek Dubey

In order to ensure that potential buyers make proper choices while purchasing flats, the Noida authority has decided to release a list of both reliable and unreliable builders.  

Officials said that ninety four housing projects are still incomplete in Noida and defaulting builders have to deliver nearly 25,000 flats to the buyers. Moreover, nearly 78,000 buyers have invested their money in such projects and have been facing various sorts of difficulties due to such builders.

On November 8, 2017, the authority had hired an international consultancy firm, ‘The Currie & Brown’, to audit accounts of fifty one builders in Noida.

Now, after the completion of the audit, the authority has proper information about those builders who have diverted home buyers’ money to other projects and others who are honestly delivering their projects.

Santosh Kumar, officer on special duty told City Spidey that the authority is planning to release the names of builders in this week itself.

“We will send the names of defaulting builders to the Uttar Pradesh Government so that appropriate action is taken against them,” Kumar added.

On September 12, 2017, chief minister Yogi Adityanath had directed the chief executive officers of Noida, Greater Noida and Yamuna Expressway authorities to get an audit done of those builders’ accounts, who have failed to deliver flats.

The directive came after homebuyers demanded an audit of the builders from whom they had purchased flats. They alleged that builders could not hand over possession because funds collected against flats were diverted to other projects.


TAGS: Noida authority to release list of reliable builders / Noida authority to release list of defaulting builders / Homebuyers / Audit of builders accounts / Noida authority / UP CM Yogi Adityanath / Builders / Homebuyers / Noida news / Noida