The move is likely to affect hundreds of home-buyers, who have made investments into these housing projects
In a major setback to investors and developers, the Yamuna Expressway Industrial Development Authority (YEIDA) on Wednesday asked 17 developers not to carry out construction work. It also banned the sale of flats.
The authority earlier had cancelled building maps of 17 group housing projects owned by Jaypee Infratech, Gaursons, Orris Group, VGA Developers and Ajnara Group.
"Out of 17, 11 belong to Jaypee Infratech, two are of Gaursons and one each is owned by Ajnara, Orris Group, VGA Developers. The projects are located in sector 19, 25 and 22B located along the Yamuna Expressway," YEIDA CEO, Arunveer Singh, told DNA.
"We have made it clear to all developers to not carry out any kind of construction work and sale of flats. We have formed a team to keep an eye out for it. If any developer is found guilty then stringent action will be taken," Singh said.
"The developers have not got the map approved within specific time. The builders have also sold out flats to home-buyers without getting the requisite approvals," he added.
The move is likely to affect hundreds of home-buyers, who have made investments into these housing projects.
On April 15, this year, the Yamuna Expressway authority had also cancelled five housing projects of Jaypee Infratech in Sports City East since the developer allegedly sold the projects without getting the building plans approved.
Gaursons' one project is spread on 87,756 square meters in sector 19 and another project is spread on 215 square meters in sector 19. This project is a Yamuna City mega township proposed on 250 acres land along the Yamuna E-way.
VGA Developers has 20,071 square meters land in Sector 25, Orris Group has 8,19,105 square meters land in sector 22D and Ajnara has 85,391 square meters in sector 22A.
"The developers had submitted their maps in 2015-16 and the authority raised objections in those maps. The developers are yet to clear the objections. Without resolving objections the developers kept selling the flats in their projects. I have issued notices to each developer asking them to submit details of flats sold and money that has been collected from the investors. Without clearing objections the developers are not allowed to sell the flats," Singh said.
When asked if the authority has passed any developer's building plan after the cancellation, Singh said, "We have asked to submit fresh proposal. So far authority has sanctioned any developer's building plan after cancellation."
Speaking on condition of anonymity, one of the developers said that the majority of land allotted to them, is still not in their possession due to the ongoing protests by farmers. "As the authority failed to hand over land, we cannot complete the process. The authority must first hand over the land," he said.
...& ANALYSIS
- Yamuna Expressway Authority's move will affect hundreds of home-buyers, who have made investments into these housing projects in Noida and Greater Noida. There has been much confusion and delay over housing projects and this will do nothing to help the process.
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