UP Govt assures delivery of 20,000 flats by December


Three minister committee appointed by Uttar Pradesh government has assured the delivery of 20,000 flats to the homebuyers, giving them the much needed relief. This was decided in a meeting that took place in Delhi on Thursday with the concerned officials to discuss roadmap for delivery of flats.

The committee consists of Industries Minister Satish Mahana, State Minister of Cane Development & Sugar Mills, Suresh Rana and Urban Housing Minister, Suresh Khanna, met the homebuyers, builders and the authority officials to find out the solution of the problems of the realty sector.

So far, possession of somewhere around 3755 flats have been delivered and around 20,000 flats will be completed and delivered by 12 December 2017. As per Uttar Pradesh Chief Minister, Yogi Adityanath’s promise to deliver 50,000 flats till March 2018, we have directed the developers to submit their action plans for the remaining 30,000 flats

Suresh Khanna, Urban Housing Minister said.

Committee also made clear that those developers who will deliver their residential projects on time will be benefited under the Zero Policy.

The zero period (zero interest for defaulter builders) has been declared for 77 days, when the construction was stopped due to NGT order. We have waived off penalty interest to help the developers to complete their struck projects but only those developers will get benefit from this who will deliver their flats in time,

Khanna added.

As per the committee, more than a dozen huge developers including Amrapali and Jaypee, have submitted their reports. Developers will get all the support they need from government and also assured the homebuyers that they will get their flats soon.

Following the NCLT insolvency proceedings against the Amrapali Group, Co-developers Confederation of Real Estate Developers’ Associations of India (CREDAI), has came forward to offer the help for the completion of Amrapali project and will offer Rs 200 crore financial aid to Amrapali Group for completing the project.

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