15,000 apartment deliveries in Noida in 30 days: Credai

NOIDA: Credai NCR has today committed that 15,000 apartments would for sure be delivered by November in Noida, while rest 35,000 would take a bit longer; but they have agreed that they would meet the State government's delivery projections of 50,000 apartment units in the city at the earliest. Among builder projects that are included in this completion spree of 15,000 over next 30 days are Jaypee, Supertech, Ajnara, eldeco, Amrapali.

"By our estimates, 15,000 apartments are already complete and are awaiting final completion certificates at Noida Authority. So these are just stuck at minimum formality levels and Noida authority would have to execute the final disposal of the certification process. We are certain of these many apartments surely being delivered in Noida over next 30 days," Pankaj Bajaj, president Credai NCR told TOI.

Commenting on the balance 35,000 apartments that would remain to be delivered, Bajaj said a stock taking and audit has revealed that these many apartments may be either in last stages of completion or tied in builder-authority disagreements over dues and financial disputes.

"For the 35,000 apartments that the builders would have to deliver, we are looking at encouraging the builders for completing their work fast to be able to apply for completion certificates. Dues if pending need to be closed, last minute finishing and completion of apartments too need to be executed. But this will need a little more time," Bajaj said. The builders' conferderation however continues to demand a waiver on the interest amounts due against them from the Noida Authority for the period when the construction was stalled due to farmers agitation and during the NGT ban on construction around the Okhla Bird Sanctuary.

"The credibility of the entire sector is at stake. We have given suggestions on the co-developer policy in order to rope stronger developers to finish the stalled projects particularly Amrapali. The co-developers need legal immunity from the disputes of the original developer. If all this is worked out, delivery process will speed up," Bajaj added.