The BJP government in UP, which has on several occasions accused the former Samajwadi Party (SP) and Bahujan Samaj Party (BSP) regimes of coming up with policies to benefit real estate developers, has now come up with a scheme to render relief to builders.
Homebuyers furious
The Greater Noida Industrial Development Authority has given a waiver to builders by allowing relaxation in depositing lease rent and dues instalment.
The decision has incensed homebuyers who have been struggling for years to get their dream homes.
Through a decision passed on December 11, builders can obtain completion certificates by submitting only 11% lease rent. The builders are also allowed to submit the lease rent in three instalments. Further, a 3% discount has also been given on lease rent.
A State government official said that this decision would help builders complete projects fast and hand over flats to homebuyers quickly. “The idea behind this decision is that the builders will be able to deliver homes to buyers as soon as possible,” said the official.
On September 12 this year, the Yogi Adityanath-led government had announced that 50,000 flats in Noida and Greater Noida would be completed within three months. In a recent meeting, the government revised the figure to 32,500.
