Showing posts with label buy property in noida. Show all posts
Showing posts with label buy property in noida. Show all posts

Thursday, 25 May 2017

Livability in Residential Projects in Noida Being Impacted by Builders RO Plants



Occupants living in residential projects in Noida have written to the Noida Authority CEO stating that an end be put to unauthorised RO plants functioning in the residential sectors of Noida. Occupants of houses in Noida have stated that RO plants lower the level of ground water. Member of the Resident Welfare Association also wrote to the Noida CEO stating that builders waste a great deal of groundwater.  

The Issue of Water

Unauthorised RO plants were demanded to be shut down by the Federation of Noida Residents Welfare Associations (FNRWA) because of such plants lead to a great deal of wastage of water and lower the ground water table. Builders use the RO plants to extract ground water which is being rapidly depleted in Noida.  

The Residents Welfare Association Federation has also urged the authorities to take measures to harvest rainwater in Noida. RWA Federation members urged the authority to immediately draft plans and policies which would result in rainwater harvesting in industries, institutions, office building, and in parks across the city. Federation members believe that if water is harvested the likelihood of a shortage of drinking water in Noida in the future will be greatly diminished. Currently, many sectors in Noida face a shortage of drinking water.

In the Words of the Residents

The FNRWA president has stated that the Federation has received numerous complaints regarding unauthorised RO plants. According to these complaints, there are numerous unauthorised RO water plants in sectors and neighbouring villages which results in a wastage of groundwater. The ground water is extracted to bottle RO water, and untreated water, as per the accounts of the residents, is disposed of in the drains by builders.

According to the FNRWA President, because builders have numerous projects in Noida, they are an additional and a significant reason why water is wasted in the city. According to Noida residents, real estate developers in Noida are an additional reason why water is wasted in the city. Because builders extract ground water with virtually no hindrances, so as to build buildings, and supply workers on their many multi-storied housing complexes, they are a significant burden on the city’s water resources.  

The Depth from Which Water is used

Residents have stated that the builder’s operational RO plants are the prime reason why water is being constantly depleted in Noida. Today there is a scarcity of water up to two hundred feet below ground level whereas the water table earlier was aplenty at a depth of sixty feet. Households that have plans to buy property in Noida should be aware that the city has a problem of water scarcity which could become acute in the near future.

Friday, 12 May 2017

Cash Strapped Authorities Announce There Will Be No Major New Projects in Noida







There will be a fall in the number of New project in Noida and greater Noida, projects related to infrastructure will be fewer in number because the Noida and Greater Noida Authorities have both stated that they have insufficient funds to undertake large scale development. Both authorities have stated that they are owed dues amounting to twenty thousand crores from realtors in both regions of Noida. The authority CEO has stated that projects that had been planned, including a heliport and a Convention Center will be difficult to undertake because of a shortage of funds.
The CEO of the Noida Authority had earlier put two proposed metro projects in the Twin Cities on hold last week because he had insufficient funds to complete the projects. Rather than taking on even more projects in Noida, the authorities goal, according to the CEO will be to ensure the timely completion of ongoing projects.

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A Severe Lack of Bandwidth
The resources of the Noida and Greater Noida Authorities are stretched, according to senior officials from both authorities. A primary reason for this lack of bandwidth is the sum owned to the authorities amounting to 20,000 crores by realtors who have projects in the Twin Cities. Explaining how dire the circumstance are, officials from both authorities stated that in case they are unable to recover the dues from realtors, there will be nothing short of a crisis in the near future. The situation is all the more dire because both authorities have let realtors borrow funds in the form of loans from the city authorities.
Unable to Finish What's Started
Officials from both Noida Authorities have stated that they do not wish to begin projects that they know they will be unable to finish because they may run out of funds. The CEO of the authorities has stated that until more funding is available, the authority will not commence work on any new projects. How the authority will collect their outstanding dues and loans from Realestate developers in Noida is a matter of different concern
Projects On Which Work Will Continue
While it's true that Noida Authorities will not begin any large major projects, work will continue on two major projects, namely one metro link that will connect Noida with Greater Noida. The length of this Metrolink is just shy of thirty kilometers. Work will also continue on another 6.8 kilometer long link that will connect the City Center to Sector 62. The best property in Noida, in the vicinity of the metro stations along the mentioned and yet to be completed links, might yet continue unmolested its appreciation in value.

Friday, 28 April 2017

YEIDA, to act against 100 erring Greater Noida builders





The Greater Noida and Yamuna Highway Authorities are deliberately taking action against erring builders who have failed to abide by the deadlines to deliver possession to homebuyers, and are yet payoff the outstanding dues, which amounts to more than Rs 10,000 crore, to both the Regulators.

While a committee was established last week to look into the concerns being faced by the homebuyers and the realty sector; the legal departments of the 2 Regulators were consulted by the committee on Monday to discuss if criminal proceedings can be initiated against more than 100 building contractors in the two areas.
Based on the officials, the four-member is constituted by Meerut commissioner Dr Prabhat Kumar, who also retains charge as the chairperson of Greater Noida Industrial Development Authority (GNIDA) and Yamuna Expressway Industrial Development Authority (YEIDA), has recently been tasked to learn all options available to retrieve dues from the defaulting developers.

The commissioner further added that they have recently been asked by the panel to also study the parts of the Indian Penal Code under which criminal proceedings can be initiated against this defaulter real estate developers in Noida.  An official also said that the committee is concentrated on sorting out the difficulties being faced by the homebuyers including delayed ownership. The committee is expected to submit the report to Kumar in a week.

A meeting was held to discuss the project settlement policy, which started in October last year to provide some relief to the homebuyers, by Amit Mohan Prasad, CEO of Noida and Greater Noida Regulators on April 24. The goal was to come up with a workable solution to break the impasse between customers and builders in all the three areas of Gautam Budh Nagar. A report of the meeting revealed a possible solution shall be presented to senior officials in Lucknow on April 26.

Meanwhile, a group of homebuyers who have invested residential property in  Noida area's Chi-5 also met Kumar on April 24. According to a homebuyer he has apprised the chairperson of your problems including away devoid of been given ownership of our homes booked way back in 2011. The contractor was going to deliver 700 residential units in August 2015, however, until now only 20% construction has been carried out. Several builders said that they do not have money to complete the project, but what should the 350 people do who are stuck in this situation do?

This move reflects that the coming days will surely bring some good news for the home buyers and market of propertyin Noida.

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