Updated: July 23, 2017 8:32:52 pm
Expressing disappointment over the irregularities in the real estate sector, Uttar Pradesh Chief Minister Yogi Adityanath on Sunday said the rift between buyers and builders is widening and to bridge the gap the government needs to take stern step.
“Despite making full payments, the buyers today are harassed. They are not getting possession on time. This has resulted in loss of confidence among potential buyers. To bridge the gap amicably, the government will have to take strong step,” said Adityanath at the UP Ahead Conclave organised by Confederation of Real Estate Developers Association of India (CREDAI) in Lucknow.
The chief minister asserted that gaining the confidence of potential buyers is a big challenge for the real estate industry. “Business can run profitable only if there is trust among the consumer and the builders,” said Adityanath.
He urged the builders not to leave any of their project incomplete. The buyers are suffering today. In Noida, there have been many cases where builders have ran away with money and the burden of which has fallen on the government. I hope the organisation like CREDAI will put an end to such practice,” said the chief minister.
Meanwhile, homebuyers in Noida have once again decided to launch a protest campaign against builders who are not giving them possession of their flats. Buyers’ group Noida Extension Flat Owners Welfare Association (Nefowa) on has last week said they have again decided to announce a series of city-wide protests starting from this month end.
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