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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 sunita3329.
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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: March 20 2018 09:38 AM
[h=1]Rename Sector 18 metro station: Atta villagers[/h] [URL="https://timesofindia.indiatimes.com/toireporter/author-Meenakshi-Sinha-19258.cms"]Meenakshi Sinha[/URL]| TNN | Mar 20, 2018, 07:04 IST [IMG]https://timesofindia.indiatimes.com/thumb/msid-63372759,width-400,resizemode-4/63372759.jpg[/IMG] Noida: Residents of Atta village in [URL="https://timesofindia.indiatimes.com/topic/Sector"]Sector[/URL] 27 have asked the Noida Authority to [URL="https://timesofindia.indiatimes.com/topic/rename"]rename[/URL] the [URL="https://timesofindia.indiatimes.com/topic/Sector-18-metro-station"]Sector 18 metro station[/URL] to Atta [URL="https://timesofindia.indiatimes.com/topic/Metro"]Metro[/URL] station. The demand was raised in a meeting with project engineer S C Mishra who visited the village on Monday to discuss a host of civic issues. The residents also demanded a park with an open gym and naming it after a elder from the village, LPG pipeline, quota for village children in private schools, cleaning of sewers, regulated water supply, removal/repair of non-functional street lights, and parking arrangements. "The officials assured resolution of these issues," said Rajesh Awana, a leader of the farmers. "As the sewer pipeline is completely broken, the supply of water is not regular in the village. We have requested the officials to get it fixed ." Authority CEO Alok Tandon directed the officials to ensure all the issues related to blocked sewers and sanitation are resolved before the monsoons. [url]https://timesofindia.indiatimes.com/city/noida/rename-sector-18-metro-station-atta-villagers/articleshow/63372760.cms[/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: sunita3329
On: March 20 2018 12:32 PM
[b]Audit Shows Banks Going Cold Behind Noida Builders' Stuck Projects [/b] An ongoing audit of real estate developers who have failed to meet the completion deadlines of their respective projects shows "diversion of funds" was not the reason behind their failure. The ongoing audit exercise by global consultancy Currie &Brown on behalf of the Noida Authority show only two of 15 builders might have diverted money collected from buyers to employ it elsewhere. When a large number of homebuyers approached Uttar Pradesh Chief Minister Yogi Adityanath last year over delayed projects, most of them suspected fund diversion was the key reason behind developers failing to meet completion scheduled. It is worth mentioning here that there are about 94 stuck residential projects in Noida, the information of the national capital region, in which about 78,000 people have invested. These stuck projects are also costing the Noida Authority --- the development body has not been able to recover Rs 11,000 crore the builders of these projects owe it. On complaints of the homebuyers, CM Yogi in September last year directed the three development bodies in the region — the Noida Authority, the Greater Noida Authority and the Yamuna Expressway Industrial Development Authority — to audit the accounts of promoters who did not meet project deadlines. Subsequently, Currie &Brown was hired by the Noida Authority to audit the accounts of 51 developers in November last year. In the second phase of the auditing the consultant found that only two of the 15 builders actually diverted money; the remaining could not complete project owing to different reasons. A change of manner in which banks dealt with the sector has much to do with it, the audit reports points out. The ongoing slowdown in the sector made financial institutions wary of real estate developers. In turn, they stopped funding real estate projects. Green hurdles have also been a key reason behind stuck projects. Cases pending with the National Green Tribunal have been instrumental in delaying score of real estate projects. In the middle of all this, buyers stopping the EMI (equated monthly installment) payments made only matters worse for the already hard-pressed builders. Wary of the delay in getting passion of projects, several buyers stooped the monthly EMI payment as a form of agitation. Most of these buyers had invested their money in these projects owing to the affordability factors—the double pressure of paying rent and EMI for far longer a time than they expected made their investment anything but affordable.
With warm regards,
Team IREF
With warm regards,
Team IREF
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