CREDIA-NCR
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With over 25000 flats ready for delivery in Noida and Greater Noida, home buyers still facing issues in their possession as many of them lack various security checks like fire and structural safety or some of them facing pending dues issue. The information has been issued by both Noida and Greater Noida Authority recently.

According to CREDAI-NCR, most of these flats are delayed due to non-payment of dues by the builders to the farmers, from whom the land is acquired or those which don’t have proper safety and fire clearances.

Confirming the news, most of the builders also reported that they are still waiting to receive the completion certificates from the respective authorities after which they will offer possession to the home buyers.

In order to solve the payment issues, the Greater Noida Authority has also offered payment reschedule option to the builders for speedy possession.

Elaborating more on this, Narendra Bhooshan, CEO, GNIDA said, “Around 130 builders in Greater Noida are facing payment dues. Of which we have offered payment reschedule option to 30 builders. Other projects lack fire safety and/or structural safety certifications,”

Recently, the Noida and Greater Noida authority have started signing an ‘agreement for sublease’ with the help of which homebuyers can claim ownership rights partially. This will help thousands of homebuyers to get relief from legal hassles.

In 2018, Noida and Greater Noida authority offered completion certificates to over 12,000 and 40,000 apartments. As per the latest estimates, by December 2019, over 42000 flats will be ready for possession in both the cities