Builders diverted homebuyers’ money to buy expensive luxury cars says Audit

RERA-293x221 - CopyBy Accommodation Times Bureau


Greater Noida Industrial Development Authority (GNIDA) said, under the first audit, 25 real estate companies have been scanned in the city and out of that at least five realtors who are constructing group housing projects in Greater Noida have used the money collected from homebuyers to buy expensive luxury cars.

The audits were ordered to find the reasons for the delay in handover of flats to homebuyers. In Greater Noida, about 1.33 lakh flats are stuck across 104 housing projects.

More details can be revealed once the report is finalized, said GNIDA officials.

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