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NEW DELHI: In a relief to homebuyers in Noida and Greater Noida, Uttar Pradesh chief minister Yogi Adityanath has issued a slew of instructions to ensure they receive their flats in an expeditious manner.
The chief minister's directives came at a meeting with the developers and top administrators from Noida and Greater Noida authority.
The meeting comes close on the heels of the Supreme Court recent stay order on real estate major Jaypee Infratech's insolvency plea and then directing it to deposit Rs 2,000 crore to safeguard the interest of homebuyers.
Chief Minister Aditynath ordered builders to make fifty thousand flats available to buyers in the next three months. He also assured that the state government will ensure builders are held responsible for all promises made to the buyers and none will be allowed to go scot free.
Quite a few flats are ready, but they have not received completion certificate from the authority because the builders owe the authority a lot of money. The authority has been asked to recover that cost and make the flats available to the buyers.
Inflation in land costs has raised land dues owed by builders, and in this regard, they have been asked to rope in co-developers and finish their incomplete projects. This is in line with the project settlement policy introduced by the government in December 2016.
The chief minister added that he'd constituted a fact-finding mission comprising ministers Satish Mahana, Suresh Rana and Suresh Khanna, who were sent to Noida to see how to help aggrieved buyers.
The apex court on Monday moved to protect buyers of homes from Jaypee Infratech which is being pursued in a bankruptcy court over unpaid loans. Many buyers of apartments in a mega township project being built by Jaypee Infratech have paid for them but have yet to take possession. They filed a petition with the court because of worries they would lose their money.
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