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1-min read

Yogi Govt Forms Three-Minister Panel to Help Home Buyers

Presently, there are around 100 to 160 housing projects in Noida in which approximately 2 lakh people invested their hard-earned money. Most of these projects are running late and the buyers have nowhere to go.

Utkarsh Anand | CNN-News18

Updated:August 30, 2017, 9:21 AM IST
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Yogi Govt Forms Three-Minister Panel to Help Home Buyers
Presently, there are around 100 to 160 housing projects in Noida in which approximately 2 lakh people invested their hard-earned money. Most of these projects are running late and the buyers have nowhere to go.

New Delhi: The Yogi Adityanath-led UP government has formed a three-minister to help flat buyers in Ghaziabad, Noida and Greater Noida. The ministers, Suresh Rana, Satish Mahana and Suresh Khanna, will meet aggrieved home buyers on Wednesday and later, come up with a report.

Presently, there are around 100 to 160 housing projects in Noida in which approximately 2 lakh people invested their hard-earned money. Most of these projects are running late and the buyers have nowhere to go.

Over 90 projects in Greater Noida, Greater Noida West, and Expressway are running late by three years and 30 projects are 5 years behind, while some projects are still incomplete even after 9 to 10 years of commencement.

This comes as Jaypee Infratech Ltd, the infrastructure and construction arm of the Jaypee group, was cleared by the National Company Law Tribunal for debt resolution.

Jaypee Infratech is saddled with debts of almost Rs 8,000 crore and is unable to pay back loans or the money of house owners, who bought a house in the project but were never delivered the finished apartment.

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| Edited by: Aditya Nair
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