Will protect home buyers’ interests, says new Noida chairman Pravir Kumar

Pravir Kumar, a 1982 batch Indian Administration Service (IAS) officer, replaced Rama Raman as the new chairman of Noida, Greater Noida and Yamuna Expressway Industrial Development Authority on Wednesday.

Pravir Kumar, a 1982 batch Indian Administration Service (IAS) officer, replaced Rama Raman as the new chairman of Noida, Greater Noida and Yamuna Expressway Industrial Development Authority on Wednesday.

Pravir Kumar addresses the media after taking charge as the new chairman of Noida, Greater Noida and Yamuna Expressway Industrial Development Authority authorities on Wednesday. (Sunil Ghosh/HT Photo)

Right after joining office, Kumar directed officials of the three authorities to fix civic issues and also take appropriate steps in areas where home-buyers are facing civic woes.

“I will soon have a meeting with district administration and police to streamline policing in the district. I will take suitable steps to ensure that interests of property buyers and corporate investors are safeguarded properly,” said Kumar.

Kumar, who also has additional charge of chief executive officer (CEO) of the Yamuna authority, said that he will take a balanced approach to revive realty sector that is witnessing a slump due to a liquidity crisis faced by the builders.

The Noida, Greater Noida and Yamuna authority are facing financial issues as they are unable to begin work on new infrastructure projects as they are unable to recover Rs 25,000 crore dues from builders. The realtors are unable to pay monthly instalments of the group housing land.

The authorities had allotted group housing land after the developers paid 10% of the land cost. Remaining 90% land cost was supposed to be paid in instalments. But the builders said they do not have money to pay up the dues because housing units are not being sold.

As a result, home-buyers, who have invested their hard-earned money for a housing unit, are suffering because the builders are not finishing projects citing fund crunch.

“I will look into these issues and ask officials to take steps as per law,” said Kumar. The state government on Monday announced major bureaucratic shakeup in the three authorities and also transferred 21 IAS officers.

Rama Raman — who is currently CEO, Noida and chairman of Noida, Greater Noida and Yamuna Expressway Industrial Development Authority (Yeida) — will continue as CEO, Noida.