The Noida authority chief executive officer Amit Mohan Prasad on Tuesday said he is mulling a proposal to form a dedicated cell that will inform a buyer about the legality of a realty project.
The objective of the cell will be to furnish desired details about a particular housing project to an investor or homebuyer. The cell will help homebuyers who at times are cheated by realtors who develop illegal housing projects.
Such a cell is required in Noida because many developers develop illegal housing projects without getting necessary approvals from the authority. In the end, the homebuyers suffer when the Noida authority seals or demolish the illegal housing projects.
“I am discussing the formation of the cell, its objective and scope with my staff. The cell will do an inquiry into a particular project and inform buyers and investors about its viability. We may charge a nominal fee — Rs 100 or Rs 500— from an information seeker who wants details of a particular project,” said Prasad.
But buyers on the other hand are asking why such illegal structures are allowed to come up in Noida in the first place. “In many cases, the Noida authority takes action against an illegal housing projects only when buyers start living in it or the project is at the completion stage. Why can’t the authority ensure that an illegal project is stopped right when the digging work begins?” said Kapil Chauhan, a resident of Sector 49.
There are around 80 housing projects which are struck in Noida due to various reasons, including fund crunch. The Noida authority needs to recover Rs 7,200 crore land dues from builders. The cell will help a buyer because he can get details about a stuck project and also get to know whether it has land dues or not. With the help of the cell, homebuyers will be saved from investing in a defaulter builder project.
“We haven’t set a deadline yet for the formation of the cell. But we will do it soon. As per Uttar Pradesh chief minister Yogi Adityanath’s instructions, we want to ensure transparency in public works. We want to work for public welfare,” the CEO said.