Uttar Pradesh Chief Minister Yogi Adityanath on Tuesday directed the Noida and Greater Noida authorities to expedite the handing over of possession of 50,000 residential units to home buyers in the twin cities.
However, the government and the authorities are tight-lipped about the road map to deliver the flats as many builders are going through a fund crisis.
The directions come after Mr. Adityanath held a meeting with the heads of the three authorities — Noida, Greater Noida and Yamuna Expressway Industrial Development Authority (YEIDA) — along with the Cabinet Committee of three Ministers and other stakeholders in Lucknow.
Officials from the three authorities have been directed to address legitimate demands of builders, including those of the Confederation of Real Estate Developers’ Associations of India (CREDAI), which has offered its support to bail out critical group housing projects, including the Amrapali Group. The Authorities are also expected to hire consultants to carry out an audit of all critical projects within the next two months to determine the physical and financial status of each project.
‘Stringent action’
“Mr. Adityanath made it clear that stringent action may be taken to render relief to home buyers, who have invested their hard-earned money, and are forced to pay rent and instalments,” said a senior State government official.
A three-member panel formed by the State government to resolve builder-buyer disputes met builders and home buyers on Tuesday in the presence of the Chief Executive Officers of Noida, Greater Noida and YEIDA.
A panel, comprising State Ministers Satish Mahana, Suresh Khanna and Suresh Rana, had visited Ghaziabad and Greater Noida recently.
It had said that co-developers will be involved in projects by Unitech, Amrapali and Jaypee to improve the situation.
However, home buyers questioned the government’s actions.
“Tall claims were made after a change in regime in Uttar Pradesh. However, there is no clarity on the action plan to deliver flats. Even Tuesday’s statement appears more political than practical,” said Anubhav Kumar, a home buyer.