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Deliver flats to 1.5 lakh buyers on time or face action, Yogi Adityanath warns Noida builders

"My government's experience of the last four months has been that there is a big issue between the builders and buyers in the state," he said.

, ET Bureau|
Updated: Jul 23, 2017, 07.32 PM IST
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"My government's experience of the last four months has been that there is a big issue between the builders and buyers in the state," he said.
"My government's experience of the last four months has been that there is a big issue between the builders and buyers in the state," he said.
NEW DELHI: Warning real estate builders of action by the Uttar Pradesh government if they do not deliver flats to nearly 1.5 lakh buyers, mainly in Noida, UP Chief Minister Yogi Adityanath on Sunday said the real estate giants may have lost public confidence.

"My government's experience of the last four months has been that there is a big issue between the builders and buyers in the state. Projects being left incomplete by the real estate builders is the biggest problem, especially in NOIDA and Greater NOIDA. Nearly 1.5 lakh buyers are awaiting getting their apartments after paying money to the builders. Due to this behaviour of the real estate builders, a crisis of confidence has arisen regarding them," Adityanath said at a conclave organised by the Confederation of Real Estate Developers Association of India (CREDAI) in Lucknow on Sunday. He said loss of public confidence in builders has consequences for business in the state.

The Yogi government and BJP MLA from NOIDA, Pankaj Singh, have been involved in a series of discussions with real estate developers after buyers have filed repeated complaints with the new government. "Due to efforts of my government, some builders have adopted a constructive approach and fixed a target date to deliver the apartments. But some builders are still not taking any steps. If a dialogue does not lead to results, the state government will have to take strict action. I appeal to real estate sector to understand the government's feelings and not let such a situation arise," Yogi said, pointing out that the sector faced a challenge to win back people's confidence.

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