UP Government trying to tackle the issue of stalled projects in Noida and greater Noida.

Propertypistol

Renowned builders have failed in delivering their projects in Noida and Greater Noida.

On July 1st, The Uttar Pradesh government attempted to tackle the issue of blocked projects in Noida and Greater Noida in order to protect the interests of thousands of homebuyers who have yet to receive ownership of their flats, according to state minister Satish Mahana.

The infrastructure and industrial development minister stated the country authorities has acquired numerous pointers to solve the troubles and people are being tested to defend homebuyers interest.

Many builders have defaulted in handing over their tasks in Noida and Greater Noida, inflicting large misery to heaps of homebuyers whose investments are caught for approximately a decade now. He stated a few proposals were acquired which include pledging of devices with the authority and others and a lot of these opportunities are being explored and regarded upon. “We are seeking to solve the difficulty. Last week, we held an excessive degree assembly. We have given directions. To defend consumers interests, we’ve got taken steps and we’re trying, in order that most troubles may be resolved,” he informed newshounds here. He turned into replying to a query approximately what the country authorities is doing to solve the difficulty of stalled and behind schedule housing tasks in Noida and Greater Noida. On switch fees, Infrastructure and Industrial Development Commissioner Sanjiv Kumar Mittal stated the Greater Noida Authority in its remaining board assembly decreased the fees by 50 in line with cent and the Yamuna authority too has decreased.

“We are seeking to make the fee affordable in order that it can not have an effect on homebuyers,” Mittal stated. In a recent case of wherein over 20,000 consumers are caught, Mumbai-primarily based totally Suraksha institution has currently acquired the approval of monetary lenders and homebuyers to takeover the debt-weighted down realty firm. Suraksha institution has promised to finish the residences in forty two months after you have all of the regulatory approvals.

Many infrastructure projects and FDI’s are planned around these projects to benefit the homebuyers of these stalled projects.

Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. PropertyPistol does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.

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