Millennium Post

Home buyers unconvinced on measures proposed by govt

Home buyers unconvinced on measures proposed by govt
Greater Noida/Noida: Though the committee of three ministers has proposed slew of measures to end the woes between the home buyers and builder on Thursday but the associations of home buyers have raised several questions on their planning and alleged that the meeting was just a show off and there is nil possibility of these measures to turn in the favour of the buyers.
"We are unhappy with the measures proposed. The government has just sought about those who have invested in the projects of three builder's groups. What about thousands of buyers who have invested their lifetime savings in rest of the projects? These buyers are already left in lurch by the builders and now they are being ignored by the government also," said Anu Khan, Founder, Noida Extension Flat Owner's Main Association (NEFOMA).
Further questioning the government, Khan said, "The ministers also directed not to pay a single penny to the builder till possession but what about the buyers who have paid 90-95 per cent of the total cost of their flat and have taken loan from the bank. Can they stop paying their installments to the bank?"
The committee of three ministers on Thursday said that the buyers of Amrapali and Jaypee group need not to make any payments to the builder till they get their possession over flats.
The NEFOMA founder also raised questions on the introduction of co-partners in the builder's projects in order to get them complete.
"Why would any other builder invest in an already sold project? Also the authority will not issue completion certificate for the project without getting their dues cleared. How will the buyers get possession over their flats? Will the co developer make the payments to the authority against earning nothing from the project as they are already sold out?" said Khan.
There were several such questions raised by the association as the proposed measured have created chaos among them.
The home buyers are now doubting on the accountability and sustainability of these measures and way outs proposed by the government.
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