Greater Noida will hire private agency to monitor delayed housing projects | noida | Hindustan Times
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Greater Noida will hire private agency to monitor delayed housing projects

Noida too is looking to hire a similar agency to oversee delayed housing projects in the city

noida Updated: Jun 22, 2017 23:28 IST
Vinod Rajput
There are a number of delayed housing projects in both Noida and Greater Noida, affecting thousands of homebuyers who have invested in them.
There are a number of delayed housing projects in both Noida and Greater Noida, affecting thousands of homebuyers who have invested in them.(Sunil Ghosh/HT File)

The Greater Noida authority has decided to hire a private agency to monitor delayed under-construction housing projects. The move comes a month after the Noida authority started the process of hiring an agency for the same purpose.

“We will have to follow Noida’s footsteps because there are similar problems in under-construction group housing projects in Greater Noida too. We will hire a private agency as we lack adequate professionals to monitor (the projects) and submit a report regularly,” said Debasish Panda, chief executive officer, Greater Noida authority.

Panda said he has asked the staff to prepare terms and conditions for a private agency to be hired for the job. “We can follow the terms set by the Noida authority. We will start the selection process very soon and follow all laid-down procedures to select an agency,” he added.

On May 26, the Noida authority had decided to use the services of a private agency to monitor the progress of delayed housing projects and ensure that builders stick to their new delivery schedule.

Like Noida, the Greater Noida authority too is also holding tripartite meetings with builders and buyers to address homebuyers’ issues. In every meeting, the builder has to give written solutions to buyers’ problems and also submit in writing the time by when flats will be delivered to buyers.

“We will give the flat delivery chart to the private agency, which will subsequently monitor the progress to verify whether the builder is fulfilling the promises made in the schedule. If the builder does not adhere to the scheduled plan, we will act as per law,” said Panda.

According to the Noida authority, there are around 90 under-construction housing projects in the city that need to be monitored. Thousands of homebuyers have invested in such projects and are facing problems as the builders have failed to give possession of flats for years together.

Noida officials said the agency to be chosen should have experience in monitoring at least three construction projects worth Rs250 crore. It should also have an annual turnover of Rs10 crore, the capability to deal with housing, legal and financial issues and must also be aware of the standard operating procedures in construction.