Flat buyers associations of Noida and Greater Noida today met Uttar Pradesh Chief Minister Yogi Adityanath seeking action against builders for allegedly harassing home owners by not delivering projects on time and charging extra money.
The two associations, NEFOMA and NEFOWA, demanded that the Real Estate Regulatory Act (RERA), which was passed last year by Parliament, should be implemented in the state on priority.
“We met UP chief minister today to raise our various concerns like significant delay in possession, builders charging extra from buyers in the name of cost escalation, late payment and increased farmers compensation,” NEFOMA President Annu Khan said.
“The RERA (same draft of central government) should be implemented in Uttar Pradesh and it should apply on those projects also which are in process.
“Builders are applying for tower wise completion certificate to escape from this bill. With the help of authority they are getting this and forcing buyers to get possession of their flats,” the NEFOMA said.
The real estate market is facing a multi-year slowdown that has led to huge delay in deliveries of housing projects of up to 6-7 years, forcing home buyers to stage protests and file legal cases against builders.