NOIDA builders may have to return unused leased land to pay dues

NOIDA: Even as Noida buyers continue to escalate their protests via tweets to UP chief minister, Akhilesh Yadav with hashtag #AkhileshjiGharDilwao and #NoHouseNoVote, the UP state government has come up with a proactive step to dissolve the roadblock between buyers and builders in Noida and Greater Noida.

The Noida and Greater Noida Authority may now ask builders with cash flow issues to return their unused leased land held from the respective authorities in order to pay up for their pending lease dues in order to procure completion for the projects. They may be even asked to break down their total dues to the Noida and Greater Noida Authority in micro instalments so they can procure completion and hand over the flats to the buyers.

In a recent meeting, the Noida, Greater Noida Authorities have decided to take pro-active steps to dissolve pending buyer-builder issues in the twin cities. The pro-home buyer initiative from the Authorities has come post a directive from the state government. However, the initiative is only one of facilitation and not bailout. The final blueprint of the plan will be laid out in few weeks’ time.

“Very clearly, the state government is not looking at bailing out builders. We are only trying to breakdown the deadlock which has been created between the builders and buyers so that the buyers may finally gain possession of their long due houses. The exact details of how it will be done is being worked out, but we may ask builders to return unused leased land to pay up for pending dues or break up their dues to small instalments,” CEO, GNIDA, Deepak Agarwal told TOI.

The home buyers have been pressing for completion and handover of delayed projects in the cities. They had recently also met BJP MP, Mahesh Sharma to get their #NoHouseNoVote campaign endorsed.

Home buyers of Noida and Greater Noida have been staging protests for inordinate delays by builders. Some of the buyers have been waiting for as long as 8-9 years to get their houses. The buyers have been urging the respective authorities to look into the builder delays. Many projects have been stuck with builders not being able to pay lease dues to the Noida and Greater Noida Authority.

“We do not know how exactly the builders are being eased out at the moment, but we urge the state government and the acting authorities to keep the buyers at the centre of the issue while handing the matters,” Indrish Gupta, co-Founder Nefowa (Noida Extension Flat Owners Welfare Association), said.

“Builders on their part are trying various methods to get out of the situation. In all 45000 apartments are due for possession in Noida and Greater Noida by March 2017, but in case of those with inordinate delays, the Noida and Greater Noida Authority have to get down to micro-levels to see at what stage the project is, and exactly the buyer be handed over a certain project problems are unique to projects,” Amit Modi, Vice President Credai Western UP, said.

Close to one lakh buyers in Noida and Greater Noida have been awaiting their apartments for over five years. Buyers of Jaypee group projects and Unitech group projects have been waiting for the longest period among all, with delays marked at over 8 years. Amrapali buyers come third in long-wait list after Jaypee and Unitech.

“Once the plan has been worked out, we will present it to the board and after the board clears it, we will send it to the State government for approval,” Deepak Agarwal added.

Credits ET Realty

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