20,000 Noida flats are delayed by 3-7 years: Rera survey

20,000 Noida flats are delayed by 3-7 years: Rera surveyDelhi Government Plans To Construct

In the wake of complaints filed by numerous investors, UP’s bench of RERA has ordered 7 of the Noida-based builders to speed-up their development process for handing over the properties. Indeed, the order came on December 6, which stated builders to complete more than 21,000 flats in twin cities as they are lingering 3 to 7 years behind the stipulated schedule. These orders came as a result of a survey carried out by UP-RERA. According to them, an exact count of 21,578 apartments in the housing projects by Today Homes, Logix group, Rudra Builwell, Supertech, Mascot Homes, Omaxe and Rajesh Projects in Noida and Greater Noida were found to be exceptionally delayed.

The survey was conducted on the basis of information provided by the developers at the time of registering their projects. In this regard, Balwinder Singh (member of UP’s RERA Bench) came up with the fact of having meeting with the builders and asking them to speed up the development process as the project has been extensively delayed. Apart from the RERA members and the builders, the meeting was attended by Noida as well as Greater Noida Authorities. According to the details about the flats coming further, Supertech missed deadline for 9965 flats at Czar and L’Ord. On the other hand, Logix Group missed the timeline for 8257 flats at Blossom Zest, Blossom County and Blossom Greens.

Not just these two; Today Homes is running out of timeline for 1749 flats at Ridge Residency and 678 homes at Kings Park. Also to be seen is Rudra Buildwell falling short on timeline for 2870 at Aquacasa as well as Palace Heights and Mascot Homes. It is yet to deliver 700 flats at mascot Monorath and Neotown too. Next in the line is Omaxe missing deadline over 2980 flats at NRI city and Heritage Grand. And last one on the list of missing deadline over the delivery of flats is Rajesh Projects with 2816 flats at RG Luxury. All of them have got stern guidelines by the RERA authorities to complete the projects and deliver flats as soon as possible.

Acting on the complaints of the buyers, the UP-RERA members have also conducted forensic audit of 12 builders over fund diversion allegations. And all this has really affected the development process for better as builders seem to speed up the work at their respective sites. The decision was, finally, taken in the favor of the complainants. 

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