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Real Estate And Mortgage
Published on: Apr 26, 2016 @ 14:50
The Greater Noida Industrial Development Authority (GNIDA) has asked the Realty firm Supertech to seal 1,009 units at its housing project ‘Czar’ in Greater Noida for allegedly constructing them without approval. The notice was issued to Supertech on April 11, 2016, in this regard. The company has been given 30 days to implement it.
GNIDA claims that the company had permission for just 844 housing units at Czar, but built 15 residential towers with a total of 1,853 units in this 20-acre township housing project. The authority had asked the builder to seal all extra housing units developed by it beyond the sanctioned 844 units.
Supertech, however, claimed that all the 1,853 units which are either ready or being constructed on the 20-acre township Czar housing project are not unauthorised and are “completely safe and legal”. It denied violating any rule and claimed that it had applied to purchase additional floor area ratio ( FAR) from the authority in 2014 and submitted revised building plans for sanction.
GNIDA said sanctions could not be sought in retrospect as construction cannot be carried out first and sanctions applied for later.
Supertech claimed that the request was made in consonance with the prevailing rules and regulations applicable to GNIDA. The excess units are well within the permissible limit and fully covered under a notification issued by the UP government on April 4, 2016, it added. It claims that the matter is expected to be resolved shortly and there was no need for buyers to panic.
This is the second such case for Supertech in the last two years. In April 2014, the Allahabad High Court had asked it to demolish two 40-storey residential towers in Supertech’s Emerald Court housing project in Noida as the company had built some extra floors than permissible limit. Supertech has challenged the order in the Supreme court, where the matter is pending.
But it has been a huge blow and shocking to those home buyers who bought properties there and find their lifetime saving investment suddenly at risk. All the concerned parties including the authorities and the builder must share the blame and the rights of the concerned homebuyers must be protected. The home buyers should not be made subject to any kind of harassment and pay the price for no faults of theirs.
Ajay Verma, founder and writer of TheHousingWorld, a real estate and mortgage news website. He has over fifteen years of rich experience in the above mentioned industries.
