25,000 flats are ready in Noida, but buyers can’t move in
Their flats are ready, but over 25,000 homebuyers are unable to secure possession, because the projects either lack certification of fire- and structural- safety, and/or the builders are yet to pay up all pending dues with Noida and Greater Noida authorities.
The Confederation of Real Estate Developers’ Association of India (Credai-NCR) has claimed most of these completed flats are now hanging fire because of pending dues, such as compensation to farmers from whom the land was acquired, whose negotiations with authorities are still on.
The builders confirmed there are about 25,000 such flats in the twin cities, whose buyers will have to wait till completion certificates are granted.
However, the authorities claim while some flats have been delayed because of pending dues, most have not been cleared for not having fire- and structural- safety certificates.