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Solution to home buyers problems likely to come up in 6 mnths: Urban Affairs secy

Press Trust of India  |  New Delhi 

An empowered committee, set up by the government to resolve problems of home buyers in and Greater Noida, is likely to come up with a solution within six months, Union Housing and said today.

The housing and urban affairs secretary, who is the chairman of the committee, said he would meet all the stakeholders, including home buyers, bankers and builders separately, to listen to their issues.

The meeting, which was chaired by Mishra, was attended by all the stakeholders, including the state government, the NBCC, authorities of Noida, Greater Noida, Yamuna Expressway, banks, builders, among others.

Mishra said the government is for home buyers, who agreed in the meeting that they are ready to pay the rest of the amount of their booked flats, but want possession at the earliest.

"There is definitely solution to the problems of home buyers. We will come out with some guidelines to resolve the problems of home buyers," he said.

In the meeting, the banks demanded creation of "stress funds" for last-mile funding for completion of stalled projects, he said.

As per rough estimates, there are 2.5 lakh affected housing units in Noida, Greater and Yamuna Express areas.

The builders demanded re-costing of their land after several disputes, following agitations by farmers and litigations.

The NBCC said that there are possibilities of solution for home buyers problems, Mishra said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, July 10 2018. 21:15 IST