The letter also alludes to the fact that though the BJP government had hinged in its election manifesto on the "Achhe Din" promise, no positive developments have been seen in Uttar Pradesh, so far
In an emotionally charged letter addressed to Union Finance Minister Arun Jaitley, Noida Extension Flat Owners Welfare Association (NEFOWA) has asked the government to instruct all banks to stop collecting EMIs from home buyers who have not yet got possession of their flats.
According to the buyer fraternity, several politicians, including Jaitley had reiterated in the past that the government would be sympathetic towards them until they get possession.
The letter also alludes to the fact that though the BJP government had hinged in its election manifesto on the "Achhe Din" promise, no positive developments have been seen in Uttar Pradesh, so far. The letter further stated that in Noida and Greater Noida, there were more than 5 lakh home buyers who were paying EMIs to banks without any hope of getting flats in the near future.
"Many leading builders have either become bankrupt or serving jail sentences. As a result, construction work at the sites has been disrupted and we have lost all hope," said Vikram Tyagi, a buyer.
Shweta Bharti, the general secretary of NEFOWA, said that flat buyers had already paid around 95 per cent of the total amount to developers.
"Most buyers come from middle-class backgrounds and live in rented houses. Therefore, paying EMIs to the bank translates into a heavy financial burden on them," Bharti said.
Recalling the experience of one such buyer, Bharti said, "Yogesh Singh, a cancer patient, breathed his last in December, as he could not afford to spend any further on his treatment. He had fought for possession even while he was undergoing his treatment. He had to stop his treatment as all his savings had been exhausted. Ironically, Singh had invested his savings on a dream home he did not live to see. If our demand is not fulfilled by the finance minister, there will be more such unfortunate deaths."
As many as 94 projects in Noida and nearly 190 projects in Greater Noida are stuck due to financial reasons. In a high-level meeting held in September this year, the chief minister had ordered the officials to ensure that 50,000 homebuyers got their homes in Noida and Greater Noida.
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