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Noida Authority CEO meets developers over Rs. 26000 crore dues

Outstanding dues should be published in the newspapers.

20 , August , 2023

Noida Authority CEO Lokesh M recently held a meeting with around two dozen real estate developers to discuss the recovery of Rs 26,000 crore in pending dues and difficulties faced by home buyers in 60 group housing projects, officials informed. Expressing angst at the situation, the CEO directed his department that action, including the issuance of recovery certificates, should be initiated against builders who have not cleared their dues against the plots allotted to them, the Noida Authority said in a statement. 

"The information regarding the dues should be published in the newspapers and the project site. Boards should also be installed at the project site's gate mentioning their liability towards the authority," he directed his officials. The senior IAS officer, who took over as the Noida Authority CEO last month, noted that "every working day" in public hearings in the authority, AOA (residents' associations) and flat buyers complain about the poor quality of the building constructed in the project, the problem of car parking, water-logged basements of the building, and lift problem.  

"These problems should be resolved by the builder at his level immediately in a quality manner," Lokesh M was quoted as remarking. In the completed projects where legally AOA (apartment owners' association) is constituted, it should be handed over for the maintenance of the project under the provisions given in the UP Apartment Act, 2016, he said. 

During the meeting, the CEO of the Noida Authority, which functions under the Uttar Pradesh government, noted that two months ago defaulter builders and allottees were directed to open escrow accounts but to date, only six builders have done it. The remaining builders have been directed to inform the authority of opening escrow accounts in each case by August 26 (Saturday), according to the statement.


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