‘Buyers will get relief’

Noida CEO Alok Tandon says that the high-powered committee that is looking into aggrieved buyers of builder flats will soon set everything right

To deal with the harried buyers of various housing projects that got delayed, the Uttar Pradesh government formed a high- powered committee to look into the issues that are the cause of the delay. The committee comprises representatives of the Uttar Pradesh government, banks, NBCC, CEO Noida (New Okhla Industrial Development Authority) and representatives of buyers and builders.

The committee is primarily looking at the four big projects that were with Jaypee, Unitech, Amrapali and 3Cs. The committee wants to ensure that no buyers feel that his hard-earned money has gone down the drain. Patriot talked to Noida CEO Alok Tandon about the future of buyers and expected proposal to finish off the half-done housing projects of Noida and Greater Noida.

With the high-powered committee in place, would it be fair to say that buyers will get their flats in six months or so?
No that would be inappropriate. We have met twice and working on the action plan and buyers are our top priority. We want to ensure that they get the desired relief as soon as possible. However, giving a certain time-frame is unfair at this point of time. We are working towards it.

Is the authority working out a policy so that such a situation never arises in future?
Of course. The measures that have been taken so far give a clear message that the government will not spare anyone. This is a serious attempt that will give results of a secure future.

As the authority always claimed that Jaypee is a top priority, which are the other projects that the authority has taken up?
Buyers are our priority. We are looking at every developer. It is not that we will pick and choose. For us every individual is important. Anyone who has put in his hard-earned money should not feel betrayed or alone. Government is working towards a safe solution that could offer the buyers optimum help.

Is the authority ensuring buyers representation in the whole issue? How is the committee co-ordinating with the buyer associations?
The buyer’s association is part of the high-powered committee. The committee met this week and the buyer’s representative was there in the meeting.

Which are the culprit constructions?
There are many developers in Noida and Greater Noida who have failed to deliver the flats within the given time frame. Jaypee, Amrapali, Unitech — all are already facing court orders. Rest of all have been under scanner for long. Now, the developers with no mitigation plan will have to face strict action.

What are the role of the builders in the whole issue? Would they be asked to spare funds and give it to NBCC or is it only land banks that will be acquired by NBCC?
Builders are at the centre of this problem. At this point we are hearing the problems and taking everything into consideration. There is nothing more that can be shared because we are in the middle of everything.

In the earlier meetings, it was decided that NBCC will conduct a survey of the projects and actual sites. When will this survey start?
It has not yet started. I think they will start it soon but NBCC would be able to answer this appropriately.
Will there be a timeline for NBCC to complete the projects?
I have no answer to this. NBCC will have to answer this part. All I can say is that we all are working towards a solution and to ensure that the buyers’ gets their due as soon as possible.

Builders are shooting emails claiming that they have arranged funds and would complete the projects. Do you think that this is to confuse the buyers?
Noida Authority has no idea about developers’ move. If they are sending mails, they are acting on their own. We have nothing to do with it.

Is there a plan to make the projects commercially viable by introducing space for shops in the society?
Yes. This has been discussed. Everything is under process. The projects need to be identified and other formalities are also there to be done before we could give a definitive answer on this account.

Some builders are working in a very slow pace to avoid action by the authorities concerned. Is there an action plan to tackle them too?
Yes. Builders who are working for a couple of months and then calling a halt to give an impression that work is going on at the site will have to pay compound interest as per the delay. Also, if the developers are not coming up with a mitigation plan they will have to face an action.

Will builders who have disappeared with funds also be considered by the committee?
Everything will be looked at. However, one after the other.

Some projects are 80 per cent done and need a couple of months to finish while some have been half constructed and some yet to start. What will be the timeline as per the status of the flats?
This will only be clear once we finish working towards the final proposal on how to deal with
the whole issue. So, we must wait till the committee figures out everything.