Greater Noida authority sets up panel to address homebuyer woes

November 9, 2023: The Greater Noida Authority on November 8, 2023, set up a nine-member committee to resolve conflicts between homebuyers and builders or apartment owner associations (AOAs) in Greater Noida. This panel will address issues such as non-issuance of no objection certificates (NOCs) for transfer memorandum by the AOA or builder to the homebuyers, transfer of interest-free maintenance security (IFMS) fund of the society, formation of AOA in the society, etc. This committee will meet on November 21, 2023, December 12, 2023, and January 3, 2024, to resolve such disputes. The information of the meetings will be sent to the homebuyers. 

Greater Noida has more than 200 housing societies, many of which have witnessed disputes between residents and AOAs or builders. The newly formed nine-member panel, under the chairmanship of Additional CEO Soumya Srivastava, aims to resolve these conflicts quickly. The remaining eight members of the committee have been nominated. These include the officer on special duty, builders; general manager, project;  general manager, planning; general manager, finance, manager, builders; in-charge, Legal; and two members nominated from CREDAI.