Builders of 37 projects asked to expedite construction by Noida Authority
Builders of about 37 projects, comprising 40,000 residential units, have been asked to expedite construction and apply for completion certificate at the earliest, during a meeting with the Noida Authority on Tuesday.
The builders have to complete their projects in all respects and apply for the completion certificate under the partial-tower completion scheme launched by the Authority last month. Representatives of Gardenia, Supertech and Sunworld, among others, were present at the meeting.
“The meeting was aimed at finding a way forward and help thousands of buyers get possession of their homes as soon as possible,” said Alok Tandon, CEO, Noida Authority.
Officials privy to the meeting said builders of about a dozen projects have promised to file for completion in the next four months. “We have asked the builders to make a plan and expedite construction in a time-bound manner,” said A K Rai, additional CEO (ACEO), Noida Authority. “Those, whose projects are near completion, need to apply for the completion certificate under the partial completion scheme by paying 10% of the outstanding dues,” he added.
Senior officials of Noida and Greater Noida authorities also held a meeting to discuss the possibility of extending the Project Settlement Policy (PSP). Launched in December last year, the PSP is aimed at bailing out sick realty projects in Noida, Greater Noida and Yamuna Expressway areas.