Seven builders warned as Gr. Noida Authority rushes to meet CM’s target
The Greater Noida Industrial Development Authority (GNIDA) has issued a warning to seven builders who are yet to provide details of their projects to the audit agency appointed to help the administration sort out issues related to delivery of flats to buyers. “They have been given time till Janua
Published -
Jan 6, 2018 7:31 AM
The Greater Noida Industrial Development Authority (GNIDA) has issued a warning to seven builders who are yet to provide details of their projects to the audit agency appointed to help the administration sort out issues related to delivery of flats to buyers. “They have been given time till January 9 to provide the details or face action,” said Debashish Panda, CEO, GNIDA. The move comes within days of the Uttar Pradesh chief minister promising that 40,000 homes would be delivered to buyers by this year. Sources said 25 projects with nearly 61,000 flats were under the audit agency’s scanner over delivery of homes. “While seven builders have failed to provide details for the audit, 12 have submitted their details and another six have given incomplete information. If we do not get the details from the seven builders by January 9, their list will be forwarded to the government with a recommendation for stringent action,” Panda said. There are nearly 12,000 flats in the projects of these seven builders, involving a default amount of about Rs 400 crore. The audit of projects in Noida and Greater Noida is being carried out by an international firm called Currie and Brown, which had been hired in November last year. The audit is being conducted on 11 points, officials said. These include details such as money collected for a housing project from buyers, details of banks and other institutions, amount spent on land or construction and how much money is required to finish a project. Other details, such as funds available with the builder and the balance-sheet for the past five years, are also being scrutinised. The agency has already completed the audit of 14 builder projects in Noida involving nearly 36,000 units. Officials have scheduled meet from January 9 to sort out differences between the agency’s findings and the builders’ claims.
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