Noida Seals Four Major Housing Projects Due to Violation of Building By-Laws

In a recent crackdown, the Noida Authority has taken decisive action against four major housing projects for violating building by-laws, sealing the properties for ongoing construction even after the expiration of their building permits. The affected projects include developments in Sectors 143, 168, 110, and 135.

The Noida Authority highlighted that these developers were in breach of the lease deed conditions, continuing construction long after the validity of their building maps had expired. “Such violations are a serious concern as they not only disrupt the building process but also negatively impact homebuyers who have been awaiting completion for years,” stated the authority.

Despite the allotment of land in 2010-2012, these projects were to be completed by 2015. However, slow progress and incomplete towers have left hundreds of homebuyers in distress, many having to manage both rent and home loan payments for properties they are yet to receive.

The Confederation of Real Estate Developers Association of India (CREDAI) has suggested introducing co-developers to revive these stuck projects. A spokesperson from CREDAI’s Western UP chapter stated that sealing or canceling the projects would only harm homebuyers further.

Insights from Tejasvi Kapoor on Noida’s Real Estate Outlook:

“Sealing projects sends a clear message to developers about adhering to regulations, but it also underlines the need for a more comprehensive solution to protect homebuyers. The concept of co-developers may be a promising approach to ensure stuck projects are revived without harming buyers,” says Tejasvi Kapoor, Managing Director at Hunt Property. Kapoor emphasizes the importance of innovative solutions in today’s evolving real estate landscape.

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