Status report of housing projects on website soon in Noida


2013-05-19 07:47:33

The Yamuna Expressway Authority has ordered developers in the region to upload the status report of housing projects on their official website. The decision was taken by the additional CEO after a TOI report highlighted how flats were being booked by builders despite layout plans of their projects having not been passed by the Authority.

Homebuyers had recently protested in the matter and demanded that transparency be maintained by the Authority and developers about the upcoming projects for the safety of their investments. Yamuna Expressway Authority additional CEO, HK Verma, admitted that homebuyers were confused about the status of housing projects falling in the region. "We took up the issue after finding the concern of homebuyers genuine," Verma said. The layout plan and other related documents will now be uploaded on the Authority's website.

The idea of uploading status of projects is expected to reduce the burden on Authority officials. "With properties along the expressway increasing in demand, homebuyers have been queuing at the Authority offices to know the status of projects, and this has been wasting the time of officials," Verma added.

So far, homebuyers have to rely on developers for information about the project. Whenever they go to the Authority office, most of the times they have to return without information. "I went to the Authority office four times to check the status of a proposed housing project where I was planning to invest. Officials made excuses thrice and the fourth time told me that it was not their responsibility to tell me the status of housing projects. Finally, I dropped the idea of investing there," said Amit Singh, a resident of Delhi.

"This decision will definitely help homebuyers and give then a sense of security. The developers' fraternity should also take steps at their level to reduce the stress of buyers for finding their dream homes and right investments," said RK Arora, CMD Supertech and senior office bearer of CREDAI.

Source: The Times of India, Delhi/NCR

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