CREDAI-NCR members meet ministers to find solutions faced by realty sector in Noida and Greater Noida

Recently, CREDAI-NCR members met with the committee of three ministers (Industries Minister Satish Mahana; Urban Housing Minister Suresh Khanna; and State Minister-Independent Charge of Cane Development and Sugar Mills Suresh Rana) appointed by the Uttar Pradesh state Cabinet to find solutions faced by the realty sector in Noida and Greater Noida. Senior CREDAI-NCR members and Amrapali and Jaypee Group participated in the meeting. Possession status of projects nearing completion was reviewed. Bottlenecks were removed on the spot. About 15,000 units will be achieving completion certificate in the next one month. The ministers urged for faster pace of possession. Zero period demand of developers remained unsolved. Developers are asking the authorities to withdraw the interest demand for the period that the work was stalled either due to farmer agitation or the NGT ban in Noida and Greater Noida. According to Pankaj Bajaj, President, CREDAI-NCR, "CREDAI-NCR is sensitive to the plight of the customers whose possession is inordinately delayed. Offering possession in delayed projects is the foremost priority both for the administration and members of CREDAI-NCR. The credibility of the entire sector is at stake. We have given suggestions on the co-developer policy in order to rope stronger developers to finish the stalled projects particularly Amrapali. The co-developers need legal immunity from the disputes of the original developer".