Circle rate hike unacceptable: 40,000 flat owners' body in Noida tells UP minister

NOFAA has over 71 high-rise societies under the federation umbrella having almost 40,000 apartments. Another 30,000 apartments have registries pending.

Published: 09th August 2021 06:13 PM  |   Last Updated: 09th August 2021 06:13 PM   |  A+A-

real estate, apartments, buildings

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NOIDA: Peeved over proposed hike in land circle rates here, a residents'' association having almost 40,000 flat owners as its members on Monday urged Uttar Pradesh Cabinet Minister Satish Mahana for reconsideration of the move.

The Noida Federation of Apartment Owners’ Associations (NOFAA) has also sought a meeting with Mahana, the infrastructure and industrial development minister, to resolve some other “burning issues” concerning residents of high rise societies in Gautam Buddh Nagar district.

The government's recent proposal to hike the circle rates and thereby cost of properties here had met with opposition from another citizens'' body, the Federation of Noida Residents Welfare Association (FONRWA), and builders' group, the National Real Estate Development Council (NAREDCO).

"The recent proposal of 40 per cent to 87 per cent hike in circle rates of housing societies would be very hard-hitting on the pockets of home buyers. Among all, the worst hit are high-rise society dwellers. When almost 40,000 registries are still pending, such an increase would be unacceptable," NOFAA president Rajiva Singh said in a letter to Mahana.

The federation also said that it would soon be meeting the district magistrate as well as the CEOs of all three local authorities to highlight the impact and concerns of high-rise society dwellers on the proposed circle rate hike.

Gautam Buddh Nagar, which comprises the twin cities of Noida and Greater Noida, has also been facing issues for the past several years on basic infrastructure and civic amenities and high-rise dwellers have been suffering the most, it claimed.

NOFAA VP Sachin Goyal said, "The builder in majority of the cases either delays or refuses to pay the IFMS (interest-free maintenance security) charges. We have knocked on all doors but there has been no result so far. Recovering the IFMS amount and further interest on that amount is always a challenge.”

"Builders are not listening to anyone and societies are left with incomplete work in large. The sufferings of the home buyers have been never ending,” he added.

NOFAA has over 71 high-rise societies under the federation umbrella having almost 40,000 apartments. Another 30,000 apartments have registries pending.

"Though our federation has tried to define the handing over process to help the AOAs for a smooth handover and functioning, ownership of Noida Authority in this process is much needed,” NOFAA secretary general Rajesh Sahay said.

He also added that home buyers are “simple people without any background or experience in complexities” involved in construction business.

"In several instances, whatever is promised by the builder is not actually delivered to the buyers," Sahay claimed. 

India Matters


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