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Sep 25, 2012Delhi NCR - CREDAI to protect old Noida Extension buyers
Homebuyers of Noida Extension have been assured by CREDAI that it would cancel memberships of those developers who do not adhere to guidelines issued by it against cancellation of bookings on flimsy pretexts. On 21st September, agitated over the continuous stream of cancellation letters sent by developers, a group of buyers met CREDAI officials in Delhi. The NCR wing of CREDAI had already assured homebuyers last month that it would prohibit developers from cancelling bookings and not issue demand letters till banks resume disbursal of housing loans.
Buyers told CREDAI officials that builders have resorted to random cancellation of bookings after the Master Plan 2021 of Greater Noida Authority was cleared by the NCR Planning Board. “Despite our repeated requests, developers have not desisted from the practice. Bookings are being cancelled on the pretext of having been made on the basis of basic sale price of flats,” said Devender Kumar of Noida Extension Flat Owners and Members’ Association.
Earlier, homebuyers had asked for the intervention of the NCR wing of the CREDAI to help prohibit member developers from making unethical demands upon them. “Even though banks have not resumed disbursal of loans, developers are demanding that we pay pending dues or face cancellation. Despite assurances made to us by CREDAI-NCR that it would issue guidelines to its members to protect the interests of homebuyers, developers have not stopped issuing demand letters,” added Kumar.
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