Let willing buyers exit from delayed projects: Noida CEO
Noida authority chief executive officer Rama Raman has asked three builders to either refund the money to interested buyers or shift them to a new project.noida Updated: May 05, 2016 15:15 IST
Noida authority chief executive officer (CEO) Rama Raman has asked three builders to either refund the money to interested buyers or shift them to a new residential project.
The CEO’s direction came when addressing issues of 5,000 home buyers, who had booked flats in 2009-10 in three group housing projects with a promise of delivery in 2012. The matter pertains to the issue of acquisition of land in sectors 101 and 107.
Raman and other top officials held a meeting with a buyers’ delegation and the representatives of the three builders to chalk out a solution. The authority intervened and called a joint meeting after buyers recently met UP Chief Minister Akhilesh Yadav in Delhi to air their grievances.
“We have assured buyers the best possible help. If any buyer wants a refund, he can seek it or shift to a new project. Besides, we have decided that the Noida authority, buyers and builders will jointly appeal before the Allahabad high court that the ban on construction should be lifted,” said Saumya Srivastava, deputy chief executive officer (DCEO) of the Noida authority.
If a buyer wants a refund, the builder should refund the money paid for the flat. If a buyer is not interested in a refund, the builder should allot him a housing unit in another litigation-free residential project.
According to the authority officials, the Supreme Court on August 5, 2013, had quashed the acquisition of land in sectors 101 and 107, leading to a delay in completion of projects. Later in June 2014, the Allahabad high court had ordered a stay on construction in Sector 107.
“Noida and realtors had filed a review petition in the Supreme Court in 2013. The Supreme Court issued a direction that the authority should go to Allahabad high court for relief in the matter. The next date of hearing is May 17,” a Noida authority official said.
The authority also asked the builders and buyers to again meet on May 25.
“Only representatives of builders were present in the meeting. The CEO has asked senior builder officials to be present who can take decisions on buyers’ issues,” Srivastava said.
The civil work on the three residential projects was completed in 2013 before the SC quashed the land acquisition.
“We will also look into the other legal options available to help buyers,” another Noida authority official said.