People have smashed over Noida authority today after the authority forced land developers to pay the penalties for development, which they don’t even own. People have overflowed on Twitter with hashtags Noida needs to Answer and sharing a link which showcased how Noida authority is responsible for current real estate collapse. Everyone is claiming that Noida Authority has arm-twisted builders into paying penalties for the leased properties which they don’t even acquire. This protest came in the wake of a scheme of the Noida authority where builders have to pay their development dues.
As per the reports, on Monday, the Chief executive officer of Noida Authority Alok Tandon had decided to extend the last date of the rescheduling scheme from 30th November to 15th March 2018. It is the scheme which is meant for the builders to clear their dues and deliver flats to homebuyers without further delay started from last year October month. However, the authority was forced to extend the deadline of this scheme because it wants builders to clear land dues and deliver stuck housing projects. Under this scheme, a builder has to deposit 10% of the total land dues to get the occupancy certificate from Noida authority. And after getting the OC buyers can shift into flats. Also, the builders pay the remaining land dues per flat at the time of execution of flat registry. And if the land dues are less than Rs 500 crores the builders have to pay 15% of total land dues for the mandatory occupancy certificate.
The response from the builders is not encouraging on this scheme. As till now, only eight builders have deposited Rs 100 crore. On one side authority have hope that builders would use this scheme to solve the problems of homebuyers. Whereas on other side, people are protesting against Noida authority because of this scheme.
NOIDA Authority arm-twisted builders into paying penalties for leased plots they had not even acquired! Home Buyers didn’t get their homes. Builders didn’t get the plots. The plot thickens here. https://t.co/g19JIujcsJ #NoidaNeedsToAnswer pic.twitter.com/Kv4g4NpEJI
— Anuj Prajapati (@anujprajapati11) January 31, 2018
NOIDA – Sanjay Gandhi conceived it during Emergency era and the authority has brought about Emergency all over again for the Builders & the Home Buyers. If Builders are not delivering, who’s to blame? #NoidaNeedsToAnswer https://t.co/5BawK3MP6H pic.twitter.com/nxwofwaNc3
— Shraddha (@penguica) January 31, 2018