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Noida Extension flat buyers fear developers may cancel bookings

While construction has resumed in Noida Extension, flat buyers apprehend fresh problems — this time from builders.

india Updated: Sep 01, 2012 00:18 IST
Darpan Singh
Darpan Singh
Hindustan Times

While construction has resumed in Noida Extension, flat buyers apprehend fresh problems — this time from builders.

A group of buyers on Friday met urban development minister Kamal Nath — who chairs the NCR planning board, which had cleared Greater Noida’s master plan-2021, allowing projects stuck for 10 months to resume — and sought his intervention. The minister has assured that he would look into the matter.

“The cancellation of bookings so that the same flats could be booked at higher rates, change in building plans to construct more units — this means structures will be prone to risks and there will be less green and common spaces — without addition of infrastructure by the authority and hike in rates even for existing bookings are some of the issues that we are facing,” said Devendra Kumar, representative of the group.

“On the issue of lending withheld by banks, Kamal Nath said Noida Extension is a part of NCR. And since Greater Noida master plan-2021 has now been approved by the NCR planning board, therefore, the banks should continue funding in this area. The minister assured us that development must happen in Noida Extension,” said Kumar.

Sweta Bharti of another buyer group said, “Builders are cancelling bookings of buyers who have not deposited 10 per cent of the total amount. But this norm was never in practice. They just took a token money and booked flats. Now, they (the builders) are overpowered by greed.”

“Builders want to increase saleable area by encroaching upon existing buyers' open areas. This also means more families will share common spaces,” said Abhishek Kumar, a buyer.

Anil Sharma of real estate body CREDAI tried to assuage the feeling. “Green areas and open spaces will not be tampered with. Existing buyers would get flats at committed rates,” he said.

Sharma, however, said, “I told buyers — who have only deposited the token amount — to ensure payment of 10% of the total amount and sign agreements. We can protect only those who are our bona fide buyers.”

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