Greater Noida Authority Talks Tough With Builders for delivering flats, CREDAI raises Zero period demand

Greater Noida Development Authority has taken a tough stance against builders regarding delay in allotment of flats to buyers. In beginning of this week Greater Noida Authority CEO Debasish Panda held a meeting with the builder body CREDAI in which around two dozen builders had participated.

On a strict note CEO reprimanded the builders that in a meeting held in Lucknow on 12 September with CM, builders had promised that they will provide allotment of 50 thousand flats within the dead line of three months. So now there cannot be a valid reason for getting back on this commitment. He also warned that if no filmy excuses will be tolerated by the Authority in this regard. As per an estimate builders owe a debt of around 4000 Crore to Greater Noida authority.

Builders Reiterate Demand for Zero Period

CREDAI President Suresh Garg raised the issue of Zero Period. He said builders did not get the allotment of plots from farmers so they were not able to start construction as this period is considered as zero periods and the benefit should be given to builders. Issue of giving 67.7% compensation to farmers was also raised and it was demanded that compensation be made equal to that being given by Noida Authority.

The builder also raised the issue of Labour cess which is currently at 165 Rs per sq meter which builders said was very high and authority does not provide certificate of flat completion till the amount has been submitted. They demanded that a relaxation time must be provided for the same as well.