NGO comes forward to resolve Homebuyers Issue

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A social-empowerment NGO had meeting with NEFOMA to discuss methods of resolving builder buyer issue of Noida-Greater Noida region.

Speaking about the same NEFOMA president Annu Khan said, “In the interest of innocent HOMEBUYERS we met  and discussed problems of HOMEBUYERS in details with Mr Pankaj Saraiogi  & Mr Anil Garg of RISE NGO, a  Social Empowerment Organization based in Noida , and working for the empowerment  of the deprived section of our Society with special focus on Right of  Housing to the Weaker Section of the society”.


They  said NGO has been always vigilant in pointing out and suggesting to the development authorities , Cental & State Govt and NCRPB the ways and means by which the process of delivering affordable housing to the society could become efficient , transparent and beneficial to the home buyer.

According to them it is due to the laxity and lack of monitoring on part of the development authorities that maximum Group housing Projects in Gautam Budh Nagar are now NPA Projects and the Defaulting Builders have diverted the funds collected from the buyers in the last 5-7 years.

Annu Khan further added, “However they have shown interest to work with our NEFOMA Team in the interest of HOMEBUYERS and have expressed confidence that these defaulting Projects could be revived if the Defaulting Builders comes clean and shares transparently the details of Projects ( ie. Unsold inventories, Unconsumed FAR, Funds required to complete the projects in all respect, liabilities of the secured Creditors, Receivables from Home buyers , Authority land dues etc.)”.

The NGO says that the Funds could be arranged and finances could be restructured if the builders are willing to and intend to complete the projects and they have offered their services and support to help these builders in the interest of the home buyers.

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