Greater Noida: Yamuna authority pulls up builder for failing to hand over plots
YEIDA had in 2012 allotted 100 acres to HC Infracity Private Limited in Sector 22D along the 165km Yamuna Expressway that connects Greater Noida with Agra. The builder carved out residential plots on 75 acres and sold 25 acres each to five small builders for group housing projects.noida Updated: May 30, 2017 21:20 IST
The Yamuna Expressway Industrial Development Authority (YEIDA) on Tuesday said it is likely to impose a heavy penalty on a realty firm HC Infracity Private Limited for failing to give possession of plots to homebuyers on time.
The decision comes after 55 homebuyers complained that the realty firm has failed to give them possession as promised. Homebuyers met YEIDA additional CEO Amarnath Upadhyay on Tuesday and sought his help in the matter.
YEIDA had in 2012 allotted 100 acres to HC Infracity Private Limited in Sector 22D along the 165km Yamuna Expressway that connects Greater Noida with Agra. The builder carved out residential plots on 75 acres and sold 25 acres each to five small builders for group housing projects.
“I have directed the realty firm to either give possession of plots to the buyers or face a heavy penalty. If the builder will not address buyers’ issues, then we will impose a 14% to 15% interest on the builder,” Upadhyay said.
Upadhyay asked the planning team to inspect the 100-acre plot of the builder in Sector 22D and check why the builder has not given possession to buyers. The ACEO has also asked the builder to submit a delivery schedule by June 5.
“We could not give plots to buyers because the YEIDA did not give us possession of the 100-acre land. Only after the authority gives us possession can we hand over the plots to buyers,” a spokesperson of the builder said.
ACEO said that he will act against the builder if he will not submit the delivery schedule till June 5. He also refuted the claim that the authority was holding up the land.
“The builders’ claim that the authority did not give possession is false. The reality is that the builder has not paid the Rs 12 crore hiked land compensation to be paid to farmers. Apart from that, the builder is yet to clear land dues as well. If it continues to fail to clear the farmers’ compensation then it will not get the land,” Upadhyay said.