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Dear ck.kislay,
You are subscribed to the thread "Noida City Real Estate Updates" by Cookie, there have been 2 post(s) to this thread, the last poster was MANOJa.
https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/noida-real-estate/47500-noida-city-real-estate-updates
These following posts were made to the thread:
https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/noida-real-estate/47500-noida-city-real-estate-updates
Posted by: MANOJa
On: September 12 2017 07:11 PM
[h=1]Noida to thrash out ways to recover dues from builders[/h] The proposal includes forensic audit of each builder, submitting claims in NCLT, getting the Gautam Budh Nagar district administration to issue Recovery Certificates and liquidating assets of defaulters.[URL="http://realty.economictimes.indiatimes.com/author/39625802/vandana-keelor"]Vandana Keelor[/URL] | TNN | September 12, 2017, 10:31 IST [URL="http://realty.economictimes.indiatimes.com/tag/noida"]NOIDA[/URL]: A four-pronged approach has been proposed by the Noida Authority to recover its outstanding dues, nearly Rs 20,000 crore, from defaulting builders. The proposal includes forensic audit of each builder, submitting claims in [URL="http://realty.economictimes.indiatimes.com/tag/national+company+law+tribunal"]National Company Law Tribunal[/URL] ([URL="http://realty.economictimes.indiatimes.com/tag/nclt"]NCLT[/URL]), getting the [URL="http://realty.economictimes.indiatimes.com/tag/gautam+budh+nagar"]Gautam Budh Nagar[/URL] district administration to issue Recovery Certificates and liquidating assets of defaulters. A decision to this effect is likely to be taken at a meeting scheduled between chief minister Yogi Adityanath, the cabinet committee � comprising three ministers � and the CEOs of the three authorities in Lucknow on Tuesday. The Noida Authority, in August too, had sent a proposal to the state government requesting a go-ahead for a forensic audit to be carried out on the fund flow of all defaulting builders with projects in Noida. The government has sought clarification from the Authority on certain issues before giving its nod, said officials. According to the Authority, the proposal follows last month�s meeting between the cabinet committee and Confederation of Real Estate Developers� Association of India (Credai) to resolve the builder-home buyer stalemate. During the meeting, Credai had submitted an 18-point proposal to bail out sick realty projects in the district. As per the Credai proposal, individual co-developers had said they would be willing to join hands with sick projects or defaulting developers on certain terms and conditions. The committee, however, failed to satisfactorily address the issue of recovering the outstanding dues, nearly Rs 35,000 crore, that the builders owed the development authorities of Noida, Greater Noida and Yamuna Expressway areas. According to sources, not happy with Credai�s bailout package, the Authority has come up with the four-pronged proposal. Sources in the Greater Noida Industrial Development Authority also inform that [URL="http://realty.economictimes.indiatimes.com/tag/gnida"]GNIDA[/URL] is also not in favour of supporting the bailout package proposed by Credai as it would mean a huge financial burden on the three Authorities, which are already dealing with financial crunch. As per officials, UP urban housing minister Suresh Khanna, who heads the cabinet committee, has held several meetings with Credai and builders to arrive at a likely resolution. Meanwhile, Getamber Anand, chairperson of Credai, said: �The prime concern of the government is to deliver incomplete residential units and to hand over possession. We have offered our support for the same,� Anand said. [url]http://realty.economictimes.indiatimes.com/news/regulatory/noida-to-thrash-out-ways-to-recover-dues-from-builders/60473388[/url]
With warm regards,
Team IREF
https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/noida-real-estate/47500-noida-city-real-estate-updates
Posted by: MANOJa
On: September 12 2017 07:42 PM
[h=1]Make 50,000 flats in Noida, Greater Noida available to buyers in 3 months, orders UP CM Adityanath[/h] TIMESOFINDIA.COM | Sep 12, 2017, 17:50 IST [IMG]http://timesofindia.indiatimes.com/thumb/msid-60480345,width-400,resizemode-4/60480345.jpg[/IMG](Representative image) NEW DELHI: In a relief to homebuyers in Noida and [URL="http://timesofindia.indiatimes.com/topic/Greater-Noida"]Greater Noida[/URL], Uttar Pradesh chief minister [URL="http://timesofindia.indiatimes.com/topic/Yogi-Adityanath"]Yogi Adityanath[/URL]has issued a slew of instructions to ensure they receive their flats in an expeditious manner. The chief minister's directives came at a meeting with the developers and top administrators from Noida and Greater Noida authority. The meeting comes close on the heels of the [URL="http://timesofindia.indiatimes.com/topic/Supreme-Court"]Supreme Court[/URL] recent stay order on real estate major [URL="http://economictimes.indiatimes.com/jaypee-infratech-ltd/stocks/companyid-22426.cms"]Jaypee Infratech[/URL]'s insolvency plea and then directing it to deposit Rs 2,000 crore to safeguard the interest of homebuyers. Chief Minister Aditynath ordered builders to make fifty thousand flats available to buyers in the next three months. He also assured that the state government will ensure builders are held responsible for all promises made to the buyers and none will be allowed to go scot free. Quite a few flats are ready, but they have not received completion certificate from the authority because the builders owe the authority a lot of money. The authority has been asked to recover that cost and make the flats available to the buyers. [URL="http://timesofindia.indiatimes.com/topic/Inflation"]Inflation[/URL] in land costs has raised land dues owed by builders, and in this regard, they have been asked to rope in co-developers and finish their incomplete projects. This is in line with the project settlement policy introduced by the government in December 2016. [h=2]The chief minister added that he'd constituted a fact-finding mission comprising ministers Satish Mahana, Suresh Rana and Suresh Khanna, who were sent to Noida to see how to help aggrieved buyers.[/h] The apex court on Monday moved to protect buyers of homes from Jaypee Infratech which is being pursued in a bankruptcy court over unpaid loans. Many buyers of apartments in a mega township project being built by Jaypee Infratech have paid for them but have yet to take possession. They filed a petition with the court because of worries they would lose their money. [url]http://timesofindia.indiatimes.com/city/noida/make-50000-flats-in-noida-greater-noida-available-to-buyers-in-3-months-orders-up-cm-adityanath/articleshow/60480170.cms[/url]
With warm regards,
Team IREF
With warm regards,
Team IREF
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