NOIDA: Five builders in Noida and Greater Noida, including big names like Jaypee, Supertech and Amrapali, have given a written commitment to Noida Authority to complete all their pending housing projects+ in the twin cities by 2020.
Officials told TOI on Friday the five developers submitted the tower-wise completion schedule of their 14 housing projects — overdue by three to five years in most cases — after a recent meeting between Noida Authority and the Confederation of Real Estate Developers Association of India (Credai).
Jaypee Group has promised to complete the Aman project in phases and then deliver all 1,994 units in 13 towers by March 2018. For its Wish Town project, it has given a tower-wise schedule — it will complete 420 units in six towers by September 2017; 3,329 units in 32 towers between October and December 2017; and 2,690 units in 25 towers between January and March 2018.
On its part, Amrapali Group has assured to hand over to homebuyers 100 flats in its Platinum project in Sector 119 by June 2017 and the remaining 51 by August this year. For Amrapali Eden Park, the developer has promised to open an escrow account with buyers within seven days, and put fire-fighting equipment and other devices in place within 60 days.
For its Princeley Estate project where there are 699 flats overdue, Amrapali has promised to start delivery of homes from June 2017 and complete it by May 2018. For Amrapali Silicon City, the builder has promised completion and handover of its entire Phase I by September 2018, Phase II by June 2018 and Phase III by September 2020. For Amrapali Zodiac, it has set a deadline of December 2018.
Supertech is the only builder which has claimed that not a single apartment is overdue. In the documents submitted to the Noida Authority, the group has claimed to hand over 5,155 flats in Capetown, EcoCiti, The Romano, Supernova and E-Square projects by the end of March 2018.
The other two builders — Subhkamna Buildtech and Unnati Fortunate — have promised delivery of their flats by March 2019 and June 2019, respectively.
When contacted, Shiv Priya, executive director of Amrapali Group, said, “We are working towards completion. We seek cooperation from the state government and Noida Authority to help us with financial concessions for the period during which construction has suffered in Noida.”
“We have submitted a planned completion schedule to the Noida Authority. Offer of possession of all the flats will be released immediately upon obtaining completion certificates,” a Jaypee spokesperson said.
Additional CEO of Noida Authority, Shishir Singh, said he hoped the builders would keep their commitment. “The developers have worked out these deadlines. So they are expected to live up to them,” he said.
Credai said that solutions will now be worked out+ on individuals projects. “Now each project will be taken up and solutions for completion will be drawn at an individual project level. The mandate is to complete and deliver,” Manor Gaur, president of Credai-NCR, said.
Source : http://timesofindia.indiatimes.com/city/noida/noida-builders-promise-to-complete-pending-projects-by-2020/articleshow/58646286.cms?