Uttar Pradesh government orders audit of all ongoing housing projects

Considering the inexplicable delay in delivering the possession of flats to homebuyers, the Uttar Pradesh government has ordered the audit of Noida and Greater Noida ongoing housing projects

Noida CEO Amit Mohan Prasad said, “ The directions from the chief secretary were clear. We have been told to resolve the situation and to ensure the interests of home buyers are protected at all costs.& quot He added, “ I have called a meeting with 36 builders who have ongoing group housing projects on August 16 and 18. The last meeting we had with builders was in May this year. We will follow up on that and once again review the progress and check if the builders' promises have been kept and whether they have delivered as per schedules given to us. We have also been directed to take the strictest action against any builder who fails to provide us with the required information. These cases will be referred to Rera (the Real Estate Regulatory Authority).”

Amrapali group is big a defaulter and owes NOIDA nearly 1,200 crore. The authority plans to conduct account audit of the company to find out how the company intends to complete the project, deliver homes to its buyers and how it intends to pay the dues of NOIDA authority.

Authorities claim that over 30,000 housing units have to be delivered by the builder in NOIDA and Greater NOIDA. The GNIDA also has to recover over 2,000 crores from the developers.

After the Jaypee Infratech fiasco, the authorities will meet the real estate companies and conduct a thorough audit and assure that the home buyers will get the possession of their within the stipulated timeline.