Noida Authority: Steps against developers if CM deadline missed

noida logoBy Accommodation Times Bureau

NOIDA

On Thursday the Noida Authority said it will take action against those builders who fail to deliver flats to homebuyers. This year in September three-member ministerial committee was set up by Chief Minister Yogi Aditya Nath.

According to officials, under provisions of Section 40 of the Industrial Development Act 1976, The Authority has the rights to recover its dues after attaching the property allotted by it. This includes sealing and attaching of property besides issuing of recovery certificate.

In September 2017, builders of 32 projects in Noida had promised to hand over about 15,000 flats to homebuyers according to Noida Authority.

In October, three group housing projects with 1,564 units have been cleared and completion certificates handed over to builders and the Authority said it has cleared 2,334 flats up to September 11, 2017.

Another 20 projects are likely to be completed by this month with 2,166 flats while another 3,249 units by December 2017.

According to AK Rai, additional CEO of the Noida Authority, “We had been asked to give builders of all pending projects an ultimatum that if they fail to deliver as per schedule. Stringent action is on the cards for them and we will not shy away from that.”

Officials said, a total of about 10,756 flats have been promised by the Noida builders to be handed over by the end of this year and as directed by the chief minister, they will not be kind with the builders if they fail to deliver the homes as promised.





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