External agency to monitor realty projects in Noida, Greater Noida
The three authorities of Noida, Greater Noida and Yamuna Expressway have decided to hire an external agency to monitor residential and commercial realty projects. The decision was taken in the board meeting of the three authorities held on Thursday.noida Updated: Jun 09, 2016 23:43 IST
Following repeated demands by thousands of homebuyers, the three authorities of Noida, Greater Noida and Yamuna Expressway have decided to hire an external agency to monitor residential and commercial realty projects. The decision was taken in the board meeting of the three authorities held on Thursday.
If a developer is found deviating from the sanctioned building plan, his project will be sealed immediately and strict legal action will be taken against him, officials said.
The decision has been taken as several complaints have been lodged by homebuyers against developers for tampering with the building layout plans for profit, said officials.
“The external private agency will monitor a building, from the foundation to the top floor. The agency will submit a report after the completion of a floor of a building. This way, no realtor will be able to deviate from the sanctioned plan and cheat homebuyers,” said Deepak Agarwal, chief executive officer of the Greater Noida authority.
Greater Noida and Yamuna authorities last month formed teams for site inspections of construction projects. In Noida, the authority conducts the inspection only after the building is ready to use.
“Floor-wise monitoring, right from the foundation to the last floor, is must to ensure that the builder does not change the layout. Buyers invest on the basis of the layout plan. If a builder changes the plan, buyers are cheated,” said SK Nagrath, a retired army official and a homebuyer.
According to homebuyers, many developers change the flat size during construction by reducing green space and altering the size of common facilities in a group housing building.
Arun Vir Singh, chief executive officer of the Yamuna Expressway industrial development authority, said, “Monitoring by an external agency will make the possibility of alteration zero.”
First Published: Jun 09, 2016 23:43 IST