Page 8 - Greater Noida

Jaypee, Orris,VGA and more: 17 Greater Noida housing projects cancelled

Building plans of 17 projects from six builders have been cancelled by the governing authority in the Greater Noida area. Jaypee Infratech, Gaursons, Orris Group, VGA Developers and Ajnara Group are all affected. The Yamuna Expressway Industrial Development Authority (YEIDA) had approved the layout plan but its planning department had raised some objections in the building plans of these projects, said sources. Since new buiding plans had not been given for approval, the Authority cancelled those for these 17 projects.Sector experts say 105 projects of 45 developers have stalled in the Greater Noida area over the past seven years, with at least 5,000 home buyers caught in between and petitioning the courts."Of the 17 projects which have been cancelled, the sale of properties in some had already happened. This would leave these buyers in the lurch. A solution should be provided," said Parveen Jain, president of the National Real Estate Development Council, which represents ...