Noida Builders Face Authority Wrath over Nonpayment of Dues

noida authorityNoida home buyers are about to be a fresh set of trouble as the Noida and Greater Noida authorities have decided not to issue developers who have failed to pay their due against land given to them. Greater Noida Authority additional CEO H.K. Verma said, “No layout plan will be sanctioned and completion certificate will not be issued to the projects of defaulter developers.”A list of defaulter developers had been made by Noida and Greater Noida authorities. This list consists of almost all the top builders of Noida and they all have failed to pay the installments for the land they took from the authorities. There are the names of sixty developers who owe the two authorities Rs 6,000 crore. These developers will not be allowed by either authority to register or sub-lease flats to buyers till they clear their dues.Apparently the authorities had not considered the position of the buyers before passing the verdict against developers. But authorities had their own problems to deal with. Due to financial shortage they have failed to pay a hiked compensation to farmers from whom they have taken land. They have also failed to undertake any development project in the region.CREDAI (West UP), Vice President R. K. Arora said, “If the authorities stop sanctioning layout plans and desist from issuing completion certificates, it is bound to affect buyers. The market is in a slump and this decision will add to the negativity.” The Associated Chambers Of Commerce and Industry in India member Amit Gupta said that Assocham will talk to the authorities to be considerate about the interest of the buyers. They will also urge the builders to pay their dues as soon as possible.займ на карту без отказов круглосуточновзять кредит онлайн

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