CREDAI NCR to deliver 80,000 apartments
Even as homebuyers in hundreds staged protests through the day demanding completion of pending projects, builders’ group Credai came forward to commit delivery of 80,000 apartments by March 2018 in Noida, Greater Noida and Yamuna Expressway areas.
The target for delivery of 80,000 apartments by March 2018 has been set for the builders by chief minister Yogi Adityanath post a brief meeting with buyers and builders on Saturday. The initial target for the builders was 50,000 apartments by December 31; of which the builders claimed to have delivered 40,000.
“The target of 80,000 houses is achievable. In fact the balance delayed apartments can be delivered in 2018. The Development Authorities – NOIDA, GNIDA and YEIDA – and the builders need to work like partners and jointly solve the problems. Many projects, though physically ready or nearly-ready, are not getting Completion Certificates or last-mile funding because the authorities have declared them financial defaulters. The authorities need to stand by their assurance of encumbrance free title at the time of allotment. All the additional costs caused by the farmer agitation, whether the interest for this period or the additional farmer compensation, ought to be borne by the authorities. Similarly, the cost of the delay caused by NGT ban should also be borne by the authorities. Builders are also being penalised 4% – 10% of their land costs by the authorities for not having completed their projects on time. How could they have completed if the work was stopped due to reasons attributable to the authorities? Mechanically blaming the builder will not solve the problem. The government must intervene to take fair decisions in such cases,” Pankaj Bajaj, president, Credai NCR stated.
Over 1000 homebuyers whose apartments are delayed for delivery by several builders including Jaypee, Amrapali, Unitech and others held a silent protest even as Prime Minister Narendra Modi inaugurated the Magenta metro line from the city on Monday. Buyers gathered and displayed slogans and posters near Sector 18 Metro station, Botanical Garden Metro station and near Amity University, Sector 125, Noida.
The buyers’ message today unanimously was that an intervention from the Union government was needed in order to resolve the home buyers’ issue in the state.
“We have no faith in the commitment of chief minister Yogi that 80,000 houses will be delivered by March 2018. This is just an eyewash,” Abhishek Kumar, president, Noida Extension Flat Owners Welfare Association (Nefowa) said.
“We want that the prime minister should intervene. The numbers being shown are of those flats which are under construction and are in the process of due completion. What about those flats where construction has been stopped or those whose builders have fled by leaving buyers in the lurch?” Shweta Bharti, general secretary, Nefowa, added.