Business Today

Noida Authority seeks answers from 24 builders over delayed completion details

Officials said that builders are reluctant about sharing project and money details despite being categorically warned of the consequecnes.

BT Online   New Delhi     Last Updated: July 5, 2017  | 15:57 IST
Noida Authority seeks answers from 24 builders over delayed completion details
24 builders are yet to submit completion details of their projects to Noida Authority.

The Noida Authority issued show cause notices in the name of 24 builders, seeking explanation for the delay in submission of tower-wise completion details of their projects, which are already past their deadline.

The Authority has given these builders three days to submit the required details, failing to do which will result in strict action, said a report by the Times of India.

Despite apparent warnings asking realtors to either submit the details or face action, many of them are not willing to share the flat-wise details of owners and money paid for every flat booked.

"So far we have received detailed schedules from 17 builders for their realty projects in the city. The remaining 24 builders have failed to provide us the details despite several reminders," the report quoted Santosh Kumar, officer on special duty (OSD), Noida Authority.

Noida Authority has been holding tripartite conversations between home owners and representatives from real estate sector to address the real estate woes faced by the former. At the end of these meetings the builders are asked to submit the details of their projects.

"Failure to provide details and then failure to stick to the schedule provided to us will warrant stern action against the builder," he added.

The 17 builders who did submit the tower-wise details, as asked, to Noida Authority furnished details about what was spent on constructing the tower in question, developing common amenities and facilities, pathways, landscaping and more. They also submitted affidavits along with the project details complete with the completion schedule of the tower and handing over possession of homes of owners.

Noida Authority has taken affidavits so that builders cannot refute the details they have submitted.

  • Print

A    A   A