Despite several meetings with about 30 builders in the city, there’s no sign that realtors are ready to pay up the pending lease money.
Noida Authority is at its wit's end. Despite meetings with about 30 builders over the past two weeks, there’s no sign that the builders are ready to pay up the pending lease money.
These 30 builders are developing about 40 real-estate projects in the city.
The meetings were helmed by Noida Authority CEO Amit Mohan Prasad. According to sources, real-estate developers in GB Nagar owe about Rs 100 crore to the Authority.
The builders want to pay off the due on a per-flat basis to Noida Authority. They also want the Authority to allow the registry of flats for which the dues have been cleared.
According to an official of the group housing department, the Authority has not agreed to the terms of the developers. He added, “We have directed all developers to complete the stuck projects in Noida soon.”
There are around 70 incomplete projects in the city, and more than one lakh buyers are suffering because of this indefinite delay.
But buyers are not convinced of the outcome — or of Noida Authority’s intent.
“For the last five months, Noida Authority has been holding meetings with the developer — it’s just eyewash! Till date, no real issue has been solved,” complained Shailendra Baranwal, a resident of Supertech Capetown.
