GREATER NOIDA: The Greater Noida and Yamuna Expressway Authorities are mulling action against erring builders who have failed to abide by the deadlines to deliver possession to homebuyers, and are yet to clear outstanding dues, to the tune of more than Rs 10,000 crore, to the two Authorities.
While a committee was set up last week to look into the issues being faced by the homebuyers and the realty sector; the legal departments of the two Authorities were consulted by the committee on Monday to discuss if criminal proceedings can be initiated against more than 100 builders in the two regions.
According to the officials, the four-member committee set up by Meerut commissioner Dr Prabhat Kumar, who also holds charge as the chairperson of Greater Noida Industrial Development Authority (GNIDA) and Yamuna Expressway Industrial Development Authority (YEIDA), has been tasked to explore all options available to recover dues from the defaulting developers. “We have been asked by the committee to also study the sections of the Indian Penal Code under which criminal proceedings can be initiated against developers,” said a GNIDA official. “The committee is focused on sorting out the problems being faced by the homebuyers including delayed possession. The committee will submit the report to Kumar within a week,” the official said.
A meeting to discuss the project settlement policy, initiated in October last year to provide relief to the homebuyers, was also held by Amit Mohan Prasad, CEO of Noida and Greater Noida Authorities on Monday. “The aim was to come up with a workable solution to break the impasse between buyers and builders in all the three areas of Gautam Budh Nagar. A report of the meeting and possible solutions is to be presented to senior state officials in Lucknow on April 26,” an official said.
Meanwhile, a group of homebuyers who have invested in a project in Greater Noida area’s Chi-5 also met Kumar on Monday. “We have apprised the chairperson of our problems including out not having been given possession of our homes booked way back in 2011,” said Ashish Mitta, a homebuyer. “The builder was to deliver 700 residential units in August 2015, but so far only 20% construction has been carried out,” he said. “The builder says he does not have money to complete the project, but what should the 350 families stuck in this situation do?” he asked.
“We are afraid that the builder will flee from the country. The chairperson has promised to arrange a meeting with the builder next week to address our problems,” he said.
Source : http://timesofindia.indiatimes.com/city/noida/yeida-gr-noida-to-act-against-100-erring-builders/articleshow/58351327.cms