Delhi-NCR: Good News for the Home Buyers whose Flats are stuck either in Noida or Ghaziabad. Real Estate Regulatory Authority has taken the initiative to resolve the issues of the Home Buyers of Noida and Ghaziabad. There are many Home Buyers who had bought properties in Ghaziabad and Noida and since then their flats are stuck with the Housing Societies and they have been struggling for long to get them back. Finally RERA taken the step forward to resolve the pending issue. Soon a meet will be held with Home Buyers, Builders and Banks on the issue.
Many Projects are delayed due to lack of funds
There are over 18 projects in Uttar Pradesh with around 10000 flats. Most of the flats are in Noida and Ghaziabad. Out of these 15 projects are being run by Association of Allottees , three projects have been handed over to AOA for completion. So far only one project has been completed under the supervision of RERA which is JP Greens Project. Many Projects are pending due to lack of funds. The reason is that the banks are not giving loans to the Home Buyers and Promoters.
RERA hopeful to resolve the issue soon
However the RERA chief has given an assurance that he will try to pacify the banks that these projects are now under them. He will also meet the Promoters and asked them to submit all the relevant documents. The RERA chief also expressed hope to find the solution soon in the scheduled meet with the authority members, promoters and builders.
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