Newly-appointed CEO of Greater Noida Industrial Development Authority (GNIDA), Ravi Kumar NG said that issues pertaining to rationalisation of interest rates on builders’ dues can be addressed by the Uttar Pradesh government only and not by the authority. However, the issues dealing with homebuyer and builder dues will be taken up on priority to arrive at a possible solution, he added.
Kumar’s remarks came after he met a delegation of the Confederation of Real Estate Developers Association of India, NCR Chapter (CREDAI NCR). He also said that the Authority will try to understand the developers’ issues related to non-payment of dues in-depth and then seek directions from the state administration.
The Uttar Pradesh government on July 8 appointed IAS officer Ravi Kumar NG as the CEO of GNIDA.
He replaces Ritu Maheshwari, who will continue to be the CEO of Noida Authority. Maheshwari was holding an additional charge of GNIDA.
CREDAI meeting
“A delegation of CREDAI met (over the issue of builder dues) and made their representation. There are certain issues (pertaining to rationalisation of interest) which can be addressed only by the government, and for this, we will have to seek directions from the Chairman (Industries) and the Chief Minister and then anything can be said,” the GNIDA CEO said.
He added that builder-buyer issues are also an important matter and will be dealt with accordingly.
He said the CREDAI delegation made their representation and shared their grievances. “I told the CREDAI delegation that we will sit and talk over the issue and try to address it in a transparent manner. I have conveyed to them that we will not trouble anyone unnecessarily,” Ravi Kumar said.
Manoj Gaur, Chairman CREDAI National, said that it was a courtesy meeting with the CEO where the developers’ body raised the issue of pending registries of homebuyers and also put forth their demand of waiving off the penal interest accumulated on dues.
“Along with the issue of pending registries, we also apprised the CEO about pending completion certificates (CCs) in several projects in Greater Noida. The CEO gave a positive response and said that whatever necessary steps are required to resume registries will be taken. On reducing the penal interest, he said that the decision will come from the state government,” Gaur told Moneycontrol.
Builder dues
Builders in Greater Noida owe around Rs 26,000 crore to the GNIDA.
Gaur said that cutting the penal interest can revive stuck projects and also help in starting the registries of homebuyers.
Gaur said the CEO assured them of making efforts to take steps to address the pending registry issue even if the directions on rationalising interest rates on builder dues take time.
An IAS officer of the 2004 batch, Ravi Kumar NG earlier was the commissioner of Gorakhpur Division. He has also served as tourism, culture and religious affairs secretary.
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