Noida Authority CEO meets 21 builders to find resolutions for ongoing projects

NOIDA: In an attempt to provide relief to hundreds of home buyers who are running from pillar to post in order to get their homes besides dealing with initiation of insolvency proceedings against developers, Amit Mohan Prasad, CEO Noida Authority on Wednesday held a meeting with 21 builders with projects in Noida. As per directions of Yogi Adityanath, Chief Minister, UP, the focus of the meeting was to take a physical and financial update from the builders about each project. Speaking to TOI, Prasad said that they have also received several suggestions from the builders to resolve the issue.

Prasad further said that they have still to meet another 16 developers with ongoing projects in the city. "This meeting is scheduled on August 18," he said. "Once we have all the suggestions from the builders including the progress and status of their ongoing projects we will take a call," he said. "The suggestions we receive will be examined in detail for their ability to resolve the builder-buyer impasse. Once we have reached a conclusion, policies will have to be reworked along with approvals from the state government. We hope to reach a conclusion by the end of this month," he explained.

Though the CEO refused to divulge the details of the suggestions from the builders, sources inform that builders have suggested that the Authority give unit-wise completion so that registration of residential flats can be does without delay. Presently, Authority gives tower-wise completion certificates. However, Authority officials said that any completion issuance would depend on the clearance of dues by the builders. Without clearing the outstanding by the builders, no completion could be given, which in turn would mean that home buyers would not be able to register their properties and thereafter take possession.

On Wednesday, Prasad met officials of Amrapali, 3Cs, Loreat Buildwell, Colourful States, Unati Fortune, Logix, Pan Realtors, AIIMS Max Gardenia, E Homes, Antriksh, Assotech, Divine India, IVRCL, Sunshine, Granite, etc. Each builder made a presentation of their ongoing projects in the city during the three-hour long meeting.