The Noida Development Authority today asked realty firm Today Homes and Infrastructure to submit within a week the timeline for completing its much- delayed housing project in Noida.
The Noida authority has been calling builders-buyers meeting for the last two months for stuck housing projects in the city of many developers, including Jaypee Group, Amrapali, among others, to understand the issues and facilitate early completion and registration of flats.
In one of such meetings, the authority today called Today Homes & Infrastructure Pvt Ltd to address the consumers' complaints related to housing project 'Ridge Residency' at Sector 135 in Noida.
This 13-acre project, comprising 18 towers with over 1,800 flats, was launched in 2009-10 and its completion was scheduled for 2013-14.
Buyers raised various issues regarding the project, including delay in possession, offering possession without occupancy certificate and non-completion of promised amenities like water and power connections, and sewage system.
Responding to the demand of the buyers, a senior Noida authority official directed the top management of Today Homes, led by the company's Managing Director GK Gambhir, to furnish within a week the exact timeline for completion of all 18 towers in the project.
The authority told Today Homes officials that giving possession without completion certificate is not permitted under the building bye-laws of Uttar Pradesh.
Gambhir assured the buyers that by next Monday an update will be shared with the residents about the proposed timeline to complete the project in a phased manner. The deadline will also be submitted to the Noida authority.
Vibhor Mathur, one of the buyers present at the meeting, said: "This is a satisfactory start. We thank the authority for taking up the initiative but considering how Today Homes has failed in its commitments in the past, we are sceptical whether the developer will honour its fresh commitment."
He said the authority should keep a tab on whether the builder is keeping its promises being made to buyers.
"Only when it gives us the new timeline and start acting on it, we will be able to say whether this meeting has been fruitful or not," he added.
Another lady, who asked not to be identified, said: "The builder has been defaulting on every account. We booked a flat in 2010 and yet to get the possession. For the first time since the launch of the project, the company MD has come before buyers."
The Delhi-NCR property market has been facing significant delays in completion of housing projects.
Disclaimer: No Business Standard Journalist was involved in creation of this content
