Exclusive Interview | How long do Noida home buyers have to wait for their dream houses?

To the rescue of about 3.5 lakh home buyers in Noida, Greater Noida and Yamuna Expressway area, who are still waiting for possession of their flats and helplessly paying both rent and EMIs for years together, the government had formed a committee. But is the high-powered committee that is working towards a comprehensive plan any close to fulfilling the buyers’ dream.

The committee, formed by the central and Uttar Pradesh governments, is headed by Union Secretary for Housing and Urban Affairs DS Mishra and it CEO- NOIDA, GNOIDA and Yumuna Expressway- Alok Tandon and NBCC Chairperson AK Mittal.

In an exclusive interview to Newsnation.in, Alok Tandon said the committee is working towards a plan that could benefit the buyers but the forward planning of stalled projects would take time. Excerpts:

Q: Which are the projects the authority is planning to tackle on priority?

A: The high-powered committee had held its first meeting regarding issues faced by homebuyers in Noida, Greater Noida and Yamuna Expressway areas on June 25. An, the authority is primarily taking up four big stalled projects Jaypee, Amrapali, Unitech and 3Cs.

Q: Is a solution to the home buyers' problem any close?

A: The committee has met twice in the past 10 days. The committee was expected to come up with a plan by July 15. However, that appears impossible as of now. We are working to come up with a solution at the earliest.

Q: How will the plan benefit the buyers?

A: We are working towards a plan that could benefit the buyers. The planning, however, will take time. As of now we are listening to the problems that could help us understand the depth of the problem. How we will plan a solution that part still needs to be worked out. And everything is to provide relief to the buyers.

Q: What is the role of NBCC?

A: We have floated an idea if NBCC could take up the unfinished projects looking at the commercial viability of projects. However, everything is currently at a level of discussion. The plans must take shape and then only we can give a definitive answer to the problem. Currently we are planning and putting our thoughts to the best possible option.

Q: Will NBCC consider taking over the land banks of the builders?   

A: It is not appropriate to say anything at this point of time.  We are trying to look at every possible solution that could help us to complete the stalled projects as soon as possible. However, there are various institutions involved. Apart from it, there are other stake holders. So, we must keep everything under consideration. So, a solution will surely come and we will have a forward plan but it will take a little time to work out things at every level.

Q: What about the developers who have failed to deliver so far?

A: Everyone has been given time to come up with solutions from their end. If the developers have no solutions then they will have to face the music. The buyers are at the receiving end for long. They need to address the problems that is going for long because of their mistake.