[ecis2016.org] Coming to the rescue of distressed home buyers of Noida and Greater Noida, the Uttar Pradesh government has directed builders to hand over 50,000 flats to buyers in next three months or face action
Uttar Pradesh chief minister Yogi Adityanath, at a meeting with developers and top administrators from Noida and Greater Noida Authority, has asked builders to hand over 50,000 flats in the next three months, after completing the work and taking completion certificates from the authorities concerned, urban development minister Suresh Kumar Khanna said. Khanna is a member of three-ministerial committee formed by Adityanath, to look into the problems being faced by the home buyers, in the wake of the insolvency proceedings initiated against Jaypee Infratech.
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[ecis2016.org] SC asks Jaypee to deposit Rs 2,000 crores
The committee recently visited Noida, to see how the aggrieved home buyers could be helped. The builders have agreed and if they do not follow it, ‘all options are open’, to deal with them, said Khanna. “From financial to criminal, all options are open with us,” the minister added.
The meeting came, a day after the Supreme Court asserted that the interest of home buyers would be protected and directed Jaypee Associates, the holding company of Jaypee Infratech, to deposit Rs 2,000 crores within 45 days. Due to the insolvency proceedings initiated against Jaypee Infratech, the fate of about 32,000 home buyers is hanging in the balance.
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