Complaints received against some builders: R Raman
Noida, Greater Noida and Yamuna Authority chairman Rama Raman had recently convened a meeting with the Confederation of Real Estate Developers Association of India ( Credai), homebuyers and builders to discuss problems of homebuyers. These included delay in physical possession of units even after issuing the offer of possession to buyers, 24% interest being levied for late payment etc. “We have received complaints against five to six builders and are talking to them. They have been warned that if the homebuyers’ problems are not solved within 45 days, we may have to cancel their lease deeds. Credai has also been asked to look into the problems and is planning to circulate model guidelines to all members and asking them to be reasonable to homebuyers,” says Rama Raman.
The Noida and Greater Noida Authorities have to cough up an additional compensation of around ₹ 10,000 crore to farmers after the Supreme Court order on May 14 this year dismissed petitions challenging the UP government’s decision to acquire land for construction of residential clusters by private builders.
About 25,000 farmers have to be paid an enhanced compensation of 64.7% in Greater Noida and about 350 hectares of land has to be allotted to them as developed plots.
When asked if the burden would be passed on to homebuyers who have invested in the area, Rama Raman said 80% of the compensation had already been distributed. “We have loaded the amount to our allottees that include both group housing allottees (builders) and institutional.
kinds of construction materials, appliances and maintenance processes involved, the initial investment is more than in traditional homes. However, green homes ultimately lead to substantial reductions in energy costs. Energy-efficient homes can reduce the consumption of electricity by more than 30%. Also, the targeted engineering involved leads to optimised space configuration and enhanced efficiency.
The reduced water wastage in green homes is also very significant in a country which is facing a rapidly worsening crisis of water availability. To illustrate, water and energy efficient washing machines can save more than 7,000 gallons of water which would have otherwise gone to waste every year.
If one extrapolates such savings to the how much water a green homes project which uses rainwater harvesting, water recycling and water-efficient appliances throughout, the magnitude of benefits to the environment – and the pocket – can be understood even better. Healthier living means fewer visits to the doctor and saving money in the process. Further, with energy prices rising and the climate getting hotter and more erratic, it makes a lot of sense to opt for a green home as opposed to traditional and unsustainable living quarters. Adopting environmentally safe practices keep you and the planet safe There was no other option to raise funds from allottees. Recovery of funds from the additional FAR given to builders also was not fully successful. As far as the labour cess is concerned, under the Apartment Act the district administration has to collect 1% as basic welfare fund.”
The recent Supreme Court order states that “the petitioners shall be entitled for payment of additional compensation to the extent of the same ratio (ie 64.70%) as paid for village Patwari in addition to the compensation received by them under 1997 rules/award for which payment shall be endured by the Authority at an early date. It may be open for Authority to take a decision as to what proportion of additional compensation will be asked to be paid by allottees…”
“Only farmer compensation charges can be recovered from buyers. We have fixed this at ₹ 50 per sq ft. No other charges unless they are mentioned in the BBA signed between the buyer and the builder can be imposed on homebuyers. We will also be sending all our members model guidelines soon,” says Manoj Gaur, president, Credai – Western UP.