In Greater Noida, a newly formed nine-member committee, led by additional CEO Saumya Srivastava, aims to address and resolve disputes between builders and buyers. This committee, established to expedite conflict resolution, will focus on issues such as the issuance of No Objection Certificates (NOCs), the formation of Apartment Owners Associations (AOAs), and the transfer of interest-free maintenance security (IFMS) funds. The panel comprises officials from various GNIDA departments, including legal representation, and includes two members nominated by the Confederation of Real Estate Developers' Associations of India (CREDAI) to represent builders. This initiative seeks to streamline conflict resolution and improve communication between stakeholders
In NOIDA, a newly formed nine-member committee, led by additional CEO Saumya Srivastava, is tasked with resolving disputes between builders and buyers in Greater Noida. This city, boasting 191 residential complexes, frequently witnesses conflicts involving residents and builder or Apartment Owners Associations (AOAs). These disputes often revolve around issues such as the issuance of No Objection Certificates (NOCs) or the formation of Apartment Owners Associations, which are escalated to the Authority for resolution.
The panel has been established to expedite the resolution of these issues, which include non-issuance of NOCs for the transfer of property, the formation of AOAs, and the transfer of interest-free maintenance security (IFMS) funds. AOAs and homebuyers currently visit the GNIDA office daily seeking immediate resolutions. Sometimes, builders fail to comply with GNIDA's decisions, leading to complex situations for all parties involved. There are also instances where AOAs exert pressure on builders due to vested interests. The new initiative aims to put an end to these problems.
The panel will comprise officials from various GNIDA departments, including the Officer on Special Duty (OSD), the Builder's Department Manager, and General Managers from the Planning, Project, and Finance departments. It will also include a legal officer and two members nominated by the Confederation of Real Estate Developers' Associations of India (CREDAI), West UP, to represent builders adequately.
CREDAI has been brought in to ensure that builders adhere to the committee's decisions, as they are often challenged. Representatives from CREDAI will now participate in panel meetings alongside the concerned builder. GNIDA's entire team will also be present to cover all aspects of the disputes. The panel's first meeting is scheduled for November 21.
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