Real estate developers promise to deliver 25,000 flats to homebuyers by year-end...
In a meeting with Greater Noida Industrial Development Authority CEO, Amit Mohan Prasad on Saturday, developers who have projects in Noida Extension and Greater Noida promised to deliver 25,000 flats to homebuyers by the end of 2017.
Officials say that the meeting was held to help understand the developers' side of the story. Following the meeting, Prasad said that developers have promised to share a schedule of their flats delivery next week and have sought some help from the authorities and the state government.
"I will hold a separate meeting, in this connection with the Greater Noida Industrial Development Authority officers. The issues, which need state government intervention, will also be taken up," said Prasad. He also added that the main idea is to revive sick realty projects and provide flats to the homebuyers.
The developers also raised the issue of zero period benefit. Due to land dispute issues between government and farmers, several realty projects of developers could not start for years. The authority had imposed a penalty on the developers and also charged heavy interest on the payment against land allotments.
As a result, developers urged the CEO to not charge interest on the period under which the land cases were pending in different courts. This relief is called zero period. Responding to this, the CEO said that the issue of zero period would be re-examined.
"We have delivered over 22,000 flats in NCR in last three years and we are all set to deliver further 15,000 units in this fiscal. All our projects are within the defined timelines but due to government clearances, our projects are getting delayed," said Supertech group CMD RK Arora, who attended the meeting. "There are agitations by residents in some of the projects for which the CEO has assured to provide these facilities at the earliest. He (CEO) has stressed the need to expedite completion in a time framed manner," he added.
Promises made
Developers have promised to share a schedule of their flats delivery next week
The main idea is to revive sick realty projects and provide flats to homebuyers by the end of 2017.
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
 "Noida")
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}