Noida Extension buyers to protest rate hike | india | Hindustan Times
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Noida Extension buyers to protest rate hike

india Updated: Aug 30, 2012 19:46 IST

While builders at Noida extension plan to start construction activity once the rains are over in the next few days, Noida Extension Flat Owners Welfare Association (NEFOWA) on Thursday refused to pay the hike in rate as was being proposed by various builders.

NEFOWA general secretary Shweta Bharti claimed Rama Raman, CEO (GNIDA), mentioned there would not be any price hike for existing buyers.

Even in the meeting with the builders/developers on Monday, he had instructed them not to effect any price hike for existing buyers and told them to take utmost care of the buyers as they have stood with the authority for the last one and half years patiently.

"In spite of this, a few builders have started giving statement in newspapers regarding price hike for existing buyers with the excuse that the cost of materials and labour have been increased, which is totally unfair", she said adding NEFOWA will oppose the move to hike the rate.

The middle class buyers have been extra burdened with the bank EMI and huge rent for the last one year.

"NEFOWA will fight against such actions by the builders at each and every level. We cannot accept the price hike for the existing buyers at any cost. We will not agree to any of the excuses made by the builders", she said.