To provide relaxation to the homebuyers who have been anxious to get their homes delivered to them, the CEO of Noida authority and the president of CREDAI (Confederation of Real Estate Developers Association of India) will conduct a meeting with reputed developers with residential projects in Noida. The meeting is to be held on the 5th of May, 2017.
The main motive in the meeting will be to emphasize on the issues of homebuyers who are frantic over the delivery of their residential units, which the developers are constantly failing to hand over. The CEO of Noida Authority is going to suggest all the developers that before starting up with new projects and investing funds there, they should first focus on the ongoing-projects to get them completed as soon as possible. The residential projects which are almost completed will be instructed to get their completion certificates from the concerned Authorities.
On the other hand, authorities of Greater Noida and Yamuna Expressway are planning to take legal action against the builders. All the builders who are at default in delivering the flats to the homebuyers and also who have not been able to pay their dues to the respective authorities will be on the hit list.
To address the issues which the homebuyers have been facing since a long time and to keep a check in the real estate sector, a committee has been set up. The chairman of Greater Noida and Expressway conducted a meeting with this enquiry committee. The committee has prepared a report and the authorities of Greater Noida and Yamuna Expressay are all set to take action against the defaulting builders.