No relief in sight for Greater Noida flat buyers
Uncertainty continued to loom large over Noida Extension home projects with the NCR Planning Board yet to clear the Greater Noida Master Plan 2021.india Updated: Jan 23, 2012 22:40 IST
Uncertainty continued to loom large over Noida Extension home projects with the NCR Planning Board yet to clear the Greater Noida Master Plan 2021.
"There is no chance of resuming construction of Noida Extension projects in the next four months as it will take at least 3-4 months for getting approval of the Greater Noida Master Plan," NCR Planning Board member secretary Naini Jayaseelam told Noida Extension Flat Owners & Members Association (NEFOMA) today.
Construction on the residential projects has not resumed even after the Allahabad high court verdict of October 21 last year. The Greater Noida Authority was directed vide this verdict to get the recommendations of the NCR Planning Board implemented into its Master Plan 2021 before allowing construction activities to resume. However, even after three months, the Master Plan is yet to be cleared.
Homebuyers are braving double blows as they have not only exhausted their savings but are also reeling under the rising rates of interest on housing loans.
NEFOMA today met Jayaseelam in Delhi and requested for early approval of the Greater Noida master plan, NEFOMA president Abhisek Kumar said.
"Jayaseelam said the UP government is delaying resumption of the project. She said the Master Plan will be tabled in the planning committee and if approved, it will be tabled in the Board meeting. The construction work will be resumed only after the the plan gets nod of the board," Kumar said.
"Although Jayaseelam did not give any deadline for approval of the Master Plan, she said it will be done within 3-4 months," he said.
First Published: Jan 23, 2012 22:39 IST