Stop cheating home buyers or face action, Yogi warns builders
Speaking as chief guest at a function organised by the Uttar Pradesh chapter of the Confederation of Real Estate Developers Association of India (CREDAI), the apex body of private Real estate developers, the CM dwelt at length on the unethical practices adopted by many builders to increase their profit without caring for the loss of trust with their clients.lucknow Updated: Jul 24, 2017 14:28 IST
Chief minister Yogi Adityanath on Sunday warned private builders to desist from cheating buyers or be prepared to face action.
Speaking as chief guest at a function organised by the Uttar Pradesh chapter of the Confederation of Real Estate Developers Association of India (CREDAI), the apex body of private real estate developers, the CM dwelt at length on the unethical practices adopted by many builders to increase their profit without caring for the loss of trust with their clients.
“Trust is the foundation of any business but to live up to this expectation is a challenge for those working in real estate sector,” he said, adding: “My government has received a lot of complaints from buyers against builders.”
“Once a developer loses buyers’ trust, this not only affects his business but also the sense of public service,” Yogi said.
Citing an example, the CM said in Noida and Greater Noida alone there were more than 1.50 lakh buyers who were fighting to get the possession of their flats the cost of which they had already paid to builders.
He said unauthorised colonies developed by private builders were a big problem not only for residents but also for the government.
“Many profit-driven private builders develop colonies showing dreams to buyers but later leave construction unfinished with no basic amenities and infrastructure,” Yogi said.
The government, he added, had nothing to do with such colonies but it had to regularise them to provide basis civic facilities to residents which in turn burdened the exchequer.
The CM told developers that UP had immense business possibilities and opportunities for them but stressed it should be linked to trust. He urged them to ensure they did not leave housing projects halfway and the prices of the houses they build should not be too high.
He said CREDAI-like organisations should come forward to defuse buyers’ growing anger against cheating by builders. “The builders must sort out issues through dialogue with buyers failing which the government will be forced to take stern action against those who do not fall in line,” he warned.