Cabinet committee finds solutions to home buyers of Gautam Budh Nagar

GREATER NOIDA: A committee of three ministers, appointed by the Uttar Pradesh state cabinet on Thursday said that home buyers of Amrapali and Jaypee group will not have to pay another penny till their residential units are completed.
The Group of Ministers (GoM) promised nearly 45,000 home buyers who have invested their hard earned money in Amrapali group’s projects located across Noida and Greater Noida that construction of stalled projects of the developer will start within a month and will be completed within two years.The committee also informed that Jaypee group has committed to deliver 600 flats to home buyers every month starting from November this year. Nearly 32,000 home buyers are awaiting their homes to be delivered by this developer.
The decisions come after the committee consisting of UP industries minister Satish Mahana, urban housing minister Suresh Khanna and state minister (independent charge) of cane development and sugar mills Suresh Rana met nearly 300 home buyers and about 50 builders during marathon meetings over two days. “Our focus was and will continue to be protecting the interests of the home buyers at any cost,” said Suresh Khanna, who is heading the committee. “We have talked at length and in detail to all stakeholders to end the deadlock being faced by thousands of buyers so that they can procure possession of their homes,” he said.
Explaining the roadmap for ending the builder-buyer impasse and to help buyers get their homes, Khanna said that Confederation of Real Estate Developers' Associations of India (CREDAI), an apex body of private real estate developers, has offered its support to be part of the resolution process involving unfinished projects by Amrapali Group. “We will soon launch a scheme under the banner of which a group of members from the Association will work as co-developers to complete the projects. The financials and legal implications of this scheme will be worked out and construction on Amrapali projects should re-start within a month,” he said. “Buyers will have to pay their balance due towards their flats at the time of completion and registration of their property,” he added.