Gayatri Aura is near completion under UP-RERA supervision. Launched in 2010, the project remains incomplete and is now being monitored by the Uttar Pradesh Real Estate Regulatory Authority (UP-Rera).
In Gayatri Aura, a 450-apartment housing project in Noida Extension, is a story mired in inordinate delays, largely caused by long periods of stalled work because of protests by farmers for compensation.
Launched in 2010, the project remains incomplete and is now being monitored by the Uttar Pradesh Real Estate Regulatory Authority (UP-Rera).
Spread over nine acres, Gayatri Aura in Noida Extension’s Sector 1 comprises four towers. Of its 544 units, 450 have been sold.
The project was supposed to be completed between 2016 and 2018. But it was delayed primarily because of farmers’ challenge to land acquisition for the project in court that led to construction being stayed between 2012 and 2014.
Explaining the reasons for the delay, a spokesperson for Gayatri Aura said, “The project was delayed for two-three years because of various reasons. Final possession of land from the Greater Noida Authority delayed our project. Due to encroachment on one part, we began construction on the other part. Farmers refused to vacate land due to the court case and no rehabilitation was facilitated by the Authority till 2015.”
But the delays have cost the buyers time and patience. “I bought my flat with an investment of Rs 20 lakh in 2011. It has been a long wait. Thanks to the efforts made by some buyers, the flats are expected to be handed over soon,” DP Singh, a buyer, said.
In fact, UP-Rera came into the picture after a group of aggrieved buyers approached the regulator to complain of delays.
Subsequently, the regulator instituted a reconciliation committee with two representatives from buyers, two from the developer, one from the Greater Noida Authority and one from UP-Rera.
Construction at the site restarted from October 2018 after the farmers’ issues were resolved. All four towers are now due by March 2020.
When contacted, the builder said it has been facing financial liquidity issues. “We are seeking cooperation from financial agencies for fund infusion. We have told our buyers that the delivery of flats will be done as promised,” Hari Om Dixit, director of Gayatri Group, told.
For all 450 buyers of Gayatri Aura, it is now time to keep their fingers crossed.
Source- et realty