When asked about the outcome of the meeting, Noida Authority CEO Amit Mohan Prasad told DNA that lodging FIRs was not a solution against each developer
With the intention to revive sick projects in Noida, Noida Authority officials on Friday chaired a meeting with city developers. After a change in regime in Uttar Pradesh, the new UP Government has so far been tough on developers, but on Friday, officials were more focused on projects revival and delivery of flats instead of taking legal action against the developers.
When asked about the outcome of the meeting, Noida Authority CEO Amit Mohan Prasad told DNA that lodging FIRs was not a solution against each developer.
"There are two categories of developers. One who wants to deliver projects and their projects got hampered due to market conditions and other reasons. There is the second type of developer, whose only intention is to cheat innocent people," he said.
On Saturday, the Greater Noida Authority held a meeting with developers, having projects in Greater Noida.
"We, at Noida Authority, will help those builders, who have the intention to deliver projects and have clear roadmap. If required, we will take up their issues before the state government for any kind of relief," he said.
"The developers will submit their action plan within four days and will have to submit completion plans within four weeks. The authority will monitor the progress. Developers have been asking for zero period on interest amount for the duration of NGT issue. CEO will ask the government regarding this. As per plans, possession will start by year end," said the Noida Authority additional CEO Shishir Singh.
"In case the builder fails to implement the plan, the authority will take strict action. Jaypee group is the main culprit of Noida. Out of 28,000 flats, Jaypee alone has to deliver 22,000 flats. Jaypee has promised to deliver 6,000 flats by October, this year," Singh added.
Recently FIRs were lodged against Jaypee group and Amrapali for delay in projects delivery.
...& ANALYSIS
- The Noida Authority’s action is welcome news both for builders and for those who want to move in.
- Many projects have been stalled in the area and the personal intervention of the Noida Authority will boost confidence and create a timeline by when projects can be finished
- The promise of strict action against major builders such as Jaypee is also a welcome news
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