Minister assures waiver on home loan interest of Noida’s Amrapali investors | noida | Hindustan Times
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Minister assures waiver on home loan interest of Noida’s Amrapali investors

Homebuyers have been protesting outside the Amrapali Group’s corporate office in Sector 62 since August 12 demanding flat delivery. Buyers demanded concrete assurance from the government.

noida Updated: Sep 14, 2017 22:31 IST
A delegation of eight buyers met Khanna and Noida MLA Pankaj Singh in Lucknow, who had called buyers for a meeting.
A delegation of eight buyers met Khanna and Noida MLA Pankaj Singh in Lucknow, who had called buyers for a meeting.

Uttar Pradesh urban housing minister Suresh Khanna on Thursday assured homebuyers in Amrapali Dream Valley that he will talk to Union finance and corporate affairs minister Arun Jaitley on waiving of interest on home loans. However, homebuyers are not convinced by the assurances.

A delegation of eight buyers met Khanna and Noida MLA Pankaj Singh in Lucknow, who had called buyers for a meeting. Homebuyers have been protesting outside the Amrapali Group’s corporate office in Sector 62 since August 12 demanding flat delivery. Buyers demanded concrete assurance from the government.

The meeting took place between 7pm and 8pm.

“We are not satisfied with the response of the state government. The minister said that the government will not infuse funds into stuck Amrapali project to revive it and deliver flats to buyers. He assured that they will enforce confederation of real estate developers association of India members to give funds and deliver Amrapali’s sick projects,” said KK Kaushal, a buyer.

CM Yogi Adityanath in August had formed a three-member committee to address buyers’ issues. The committee comprises industries minister Satish Mahana, Suresh Khanna and minister of state for industry and sugar mills Suresh Rana, who came to Greater Noida on August 31. They announced that Amrapali buyers need not pay the remaining flat cost to the builder until the builder readies flats for possession.

The Amrapali Group had in 2009 launched Amrapali Dream Valley project with a total of 47 towers in Sector Tech Zone-4. Of 12,000 dwelling units, around 8,000 flats have already been sold but the builder has completed only 40% of the construction. Homebuyers said they have already paid more than 80% of the total flat cost but the builder is yet to finish even 60% construction.

The housing minister refused to give a written assurance or provide a loan to Amrapali but assured help to safeguard buyers’ investment.

“We demanded that Amrapali not be allowed to sell land and divert funds. We also demanded waiver of interest on bank EMIs and rope in government agencies to finish the stuck projects. On these promises, both Pankaj Singh and Suresh Khanna assured help,” said Rahul Kashyap, another buyer.

Khanna assured buyers of a forensic audit to check fund diversion.

“The minister said that they spoke to central agencies — HUDCO and NBCC — to finish stuck Amrapali projects but the two agencies refused to take over the projects,” said Kaushal.

The minister assured homebuyers said that they will visit Noida on October 5 and discuss issues with realtors to find out solutions. Buyers, however, did not end their protest.

“We will discuss issues with other buyers and decide whether to end our protest or not,” said Kaushal.

“The minister has given all assurances to buyers, that the state government will work to protect their interests. We will take up buyers’ issues on all available platforms until their issues are addressed. I asked buyers to come for a meeting so that their issues get addressed. Buyers need not worry the government will help them whenever they need it,” said Noida MLA Pankaj Singh.