CM Yogi orders authorities, builders to deliver 50,000 homes in 3 months

In a high level meeting presided by Uttar Pradesh Chief Minister Yogi Adityanath on Tuesday in Lucknow, the CM ordered the Noida, Greater Noida, Yamuna Expressway authorities and the builders to deliver 50,000 apartments in next three months. The meeting was attended by the chief executive officers of Noida, Greater Noida and Yamuna Expressway authorities, the chief secretary of Uttar Pradesh, district magistrate and the group of ministers comprising industries minister Satish Mahana, urban housing minister Suresh Khanna and state minister (independent charge) of cane development and sugar mills Suresh Rana. Representatives of real estate developers such as Unitech, Jaypee Infratech, Amrapali, Supertech and members of builder’s body Confederation of Real Estate Developers' Associations of India (CREDAI) were also present in the meeting. Adityanath also ordered formation of a committee of experts to find a solution to all impeding real estate issues in the region, including sick projects or defaulting developers within the deadline of next three months. The officials informed that around 50,000 incomplete residential units which are nearing or awaiting completion, and only require working on specific pending issues as pointed out by competent authorities, will be handed over possession in next three months in the region. CM Yogi has ordered the authorities to facilitate issuance of around 45 completion certificates which are pending with them due to issues such as plan sanctions, interest payment related issues, etc, in the next three months. The UP government has formed a three member panel to resolve the builder-buyer dispute. It has recently said that co-developers will be roped in to complete the delayed projects. The committee of experts to be formed will conduct audits of builders and their incomplete projects and come up with ways to bring in co-developers. Real estate developers also demanded interest waiver for the period when the National Green Tribunal’s ban on construction of projects located within 10 kilometres of the Okhla bird sanctuary was in effect. The CM has directed the authorities to consider the issue in priority.