A high-powered committee constituted by the state government of Uttar Pradesh to look into the matter of stalled projects in Noida and Greater Noida has recommended to the development authorities to frame a policy for taking over the unused land/ floor area ratio (FAR) of stuck projects where the builders are not taking enough steps to resolve the issue. It has also recommended bringing in other developers as substitutes to complete such unfinished projects.
The report submitted to the apex court on Tuesday said the unused land or FAR can be taken over where third party interest has not been created. The panel, which looked into the projects of four major builders - Amrapali Group, Three C Group, Unitech and Jaypee Infratech and Jaiprakash Associates - said that around three lakh home buyers are affected due to non-delivery of booked flats in the stalled projects despite making substantial part-payment to the builders.
The panel set up by the Uttar Pradesh government under Union housing secretary D S Mishra has also recommended that the state-owned National Buildings Construction Corporation (NBCC) needs to conduct more survey of stalled projects of developers other than Amrapali Group and to take up a few viable projects to complete them. “The authorities shall provide their full support,” the report said.
The committee has suggested the state government re-introduce the Project Settlement Policy with certain changes. The policy was introduced in 2016 only for six months to address the delays in delivery of flats due to farmers’ agitation, stay orders by courts on constructions and land acquisition.