G Noida asks builders for details of stuck projects

On September 12, chief minister Yogi Adityanath had directed the CEOs of Noida, Greater Noida and Yamuna Expressway authorities to audit builders who have failed to deliver flats to homebuyers.

The Greater Noida authority’s chief executive officer (CEO) Debasish Panda has directed 25 builders to provide requisite details of their housing projects to a private agency — Currie & Brown — for conducting an audit of their projects.

The CEO has directed builders to provide details such as the total number of flats, total money collected from buyers, money spent on construction or land and details of the number of unsold units in each project. (HT File)

On September 12, chief minister Yogi Adityanath had directed the CEOs of Noida, Greater Noida and Yamuna Expressway authorities to audit builders who have failed to deliver flats to homebuyers.

The directive came after homebuyers demanded an audit of the builders from whom they had purchased flats. They alleged that builders could not hand over possession of their flats because funds collected against flats were diverted to other projects.

“We have directed builders to provide required details in next one week so that the private international firm can do its job. The private agency will deploy a total of nine teams so that it can finish this job in 45 days,” said Panda.

Of 107 projects, the authority will audit 25 projects in the first phase, covering 61,533 flats in stuck housing projects.

The CEO has directed builders to provide details such as the total number of flats, total money collected from buyers, money spent on construction or land and details of the number of unsold units in each project.

There are 203 housing projects in Greater Noida, of which around 80 are in a critical state, as builders are not even turning up for meetings to seek ways to revive these projects.

Officials are hopeful that once the agency submits its report, they can determine the projects that can be revived and explore alternatives for projects that cannot be revived.

“After the agency submits the audit report, the authority will decide which project should face a forensic audit. The forensic audit will be proposed if there is evidence that the builder diverted funds collected from homebuyers,” an authority official said.

Officials said the authority will also be better placed to know how a stuck project can be revived.