Moneycontrol
| Source: Moneycontrol.com

Homebuyers hold silent protest in Noida before inauguration of Magenta Metro line section

Protests were held near Noida's Sector 18 Metro station, Botanical Garden Metro station and near Amity University, Sector 125, Noida

Vandana Ramnani @vandanaramnani1

As many as 1,000 homebuyers who are yet to receive delivery of their units in projects such as Jaypee Wish Town Noida, Amrapali, Supertech, Unitech and others held a silent protest on Monday ahead of prime minister Narendra Modi’s arrival in Noida for the inauguration of the Magenta metro rail link connecting Noida with Delhi.

Protests were held near Sector 18 Metro station, Botanical Garden Metro station and near Amity University, Sector 125, Noida.

Homebuyers termed UP CM Yogi Adityanath's promise of the delivery of 80,000 homes by the end of next March in Noida, Greater Noida and Yamuna expressway areas as an “eyewash” and demanded that the government should take stringent action, come up with an action plan for projects where the builders have declared themselves as “sick” and said that they do not have the funds to complete the projects.

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“We want that the prime minister should intervene. The co-developer policy should be implemented. The units that have been delivered in Noida or that are about to be delivered are those which had not yet received the occupancy or completion certificate and where people have already moved in. These do not include projects that are stuck due to lack of funds,” says Abhishek Kumar, president of Noida Extension flat buyers’ welfare association.

Despite several assurances from the chief minister and three-ministerThey pointed out that despite several assurances and various announcements nothing much changed on the ground. It was also pointed out that despite these three ministers’ committee set up resolve homebuyers’ issues nothing much had happened the ground. Whatever the authorities and the ministers have done so far is an eyewash. A central government must intervene, get a third party involved to complete sick projects,” says Indrish Gupta, co-founder, Noida Extension Flat Owners Welfare Association (Nefowa), who was among the 10 buyers who met Yogi, said.

As many as 3 lakh homebuyers are stuck with incomplete projects in Noida area alone.

Other buyers said that the even the much touted RERA has not brought them any relief.

“The central government notified RERA should be implemented in letter and spirit and no dilution should be done by state government,” they said.

Yogi Adityanath, on his first visit to Noida on Saturday after becoming the chief minister, held a meeting with homebuyers as well as the builders, after which he promised that 80,000 homes would be delivered to homebuyers by the end of next March in Noida, Greater Noida and Yamuna Expressway.

The chief minister had also promised stringent action against builders who fail to deliver the flats on time. Action would be taken after the completion of physical and financial audit being done in the three areas, he had said.

The chief minister assured that the delivery process is being streamlined and that the builders are being divided into three categories–first, those who are solvent to deliver; second, who are securing measures to deliver but stuck with projects because of minor dues, and finally those who are debt-ridden and unable to deliver.

“The three authorities have been asked to complete the audit of each and every builder and ensure which builder will be able to deliver or not, and seek help at the government level wherever required. They will also need to identify which are the builders who need co-developers to complete their projects, and lastly, if there is any bit of negligence from the builders towards the buyers in handing over their homes, the authorities will keep all their options open for taking action and not shy away from it,” the CM had said.

Meanwhile, builders said that the target of delivering 80,000 apartments was doable. “The target of 80,000 houses is definitely doable. In fact the balance delayed apartments can be delivered in 2018. The Development Authorities- NOIDA, GNIDA and YEIDA- and the builders need to work like partners and jointly solve the problems. Many projects, though physically ready or nearly-ready, are not getting Completion Certificates or last-mile funding because the Authorities have declared them financial defaulters. The Authorities need to stand by their assurance of encumbrance free title at the time of allotment. All the additional costs caused by the farmer agitation, whether the interest for this period or the additional farmer compensation, ought to be borne by the Authorities. Similarly, the cost of the delay caused by NGT ban should also be borne by the Authorities. Builders are also being penalised 4% to 10% of their land costs by the authorities for not having completed their projects on time. How could they have completed if the work was stopped due to reasons attributable to the Authorities? Mechanically blaming the builder will not solve the problem. The Government must intervene take fair decisions in such cases,” said Pankaj Bajaj, President, Confederation of Real Estate Developers Associations of India (CREDAI) — NCR chapter.

The CM had earlier promised to help deliver 50,000 flats by year-end.
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