On Friday, all the details of the defaulting builders was uploaded by Noida Authority on its website for the homebuyers’ benefit.
Homebuyers have been asking for this task of uploading the list of defaulting builders on the website for five years. This will help the prospective buyers to be completely aware and informed before taking the decision of buying a flat.
Out of the total 91 projects launched Noida by 65 builders, 75 projects are at default. The details of all such defaulting projects along with the amount of land dues to be paid to the Authority are uploaded on the website.
Total amount of land dues which the builders owe to the Authority is Rs.9993.10 crore, which also includes the interest because the installments were also not paid by the builders.
Moreover, if the builders are not able to clear the dues, their names will be put on hoardings on the major roads of the city.
The list of defaulting builders with respect to residential, commercial, industrial and institutional land in Noida is still to be uploaded. As per the officials, the list will be uploaded soon as all the details are ready.
In the past five years, the homebuyers were not heard when they demanded the names of defaulting builders to be publicly announced. Now, they are considering this action to be futile as thousands of homebuyers already have their lifelong savings stuck in delayed projects.
The list of defaulting developers in Noida is prepared according to the data till 31st March, 2017. Click here to check the list.