NOIDA: In a move that will aid buyers in choosing legally sound projects, the Noida, Greater Noida and Yamuna authorities are planning to upload details of all builders constructing housing projects on their official websites. The decision was taken after Uttar Pradesh chief minister Akhilesh Yadav directed the authorities to ensure protection for buyers and design a route to evade property-related cheatings.
The chairman of Noida, Greater Noida and Yamuna Expressway authorities, Rama Raman, said directions have been issued to start the process to buy server space for the websites to upload property-related details.
Aggrieved buyers have been demanding for a long time that details of all builders' projectsshould be made available online. "Checking legality of land and developers projects would be just a click away. We have planned to upload all land ownership and title-related details on our website. Apart from that, lease deed conditions, status of sanctioning building layout plan and other NOCs and notices issued to developers will also be uploaded," said Rama Raman.
"We have also asked the developers to upload the sanctioned layout plan copy and other approvals on their company websites as well," Raman added. "We hope to complete the entire process by the year end," said Manoj Rai, OSD, Noida Authority.
"The region has become a den for land sharks who have been cheating innocent investors. Even though several property frauds have been committed, they have hardly been reported due to laxity by police and authorities," said a homebuyer.
Developers have welcomed the decision and hope this would be a great step towards ensuring transparency. "This move will instill confidence in the real estate sector. Now buyers will be able to identify genuine developers from fraudulent ones. Apart from that, this decision will increase the faith of investors in the real estate market in this region," said Vijay Gupta of Orris Infrastructure.
"This move will undoubtedly be a significant tool for all prospective buyers to understand the nature of projects in a better manner. Incomplete information is more harmful than no information. Hence, availability of information on authorities' website would enable buyers to take a better decision towards their investment," said Brijesh Bhanote, director (sales & marketing), The 3C Company.
The association of developers, CREDAI, now hopes to get NRIs to invest in the projects. "An investor sitting kilometres away from Noida would be able to check the legality through authentic government websites," said RK Arora, CMD Supertech and vice-president CREDAI (Western UP).