Noida: CREDAI West Uttar Pradesh has appealed to the Chief Secretary of Uttar Pradesh, seeking urgent relief for nearly 30,000 distressed homebuyers stuck in stalled Sports City projects in Noida. In a formal letter, the developers’ body has urged intervention to resolve the prolonged issues plaguing the projects. Copies of the letter have also been sent to the Prime Minister’s Office, the Chief Minister’s Office, the Authority Chairman and CEO, and other senior officials.
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CREDAI stated that the Sports City projects have been stalled due to several technical and policy-related hurdles, severely impacting not just developers but thousands of homebuyers who have been waiting for their homes for years. It highlighted that nearly two years ago, the Public Accounts Committee had cleared all objections raised by the CAG, removing their remarks, yet the delays continue unabated.
CREDAI West UP President Dinesh Gupta informed that Lotus Green Constructions Private Limited has filed a Special Leave Petition in the Supreme Court against a High Court order related to land dues.
Until the Supreme Court gives its final verdict, any coercive action should be avoided.
Dinesh Gupta
To provide broader relief, CREDAI has also proposed several key recommendations. Addressing inconsistencies in the calculation of dues, CREDAI pointed out that the UP government linked interest rates to MCLR back in 2020, yet the demand letters have not been updated accordingly.
Further, CREDAI emphasized that only 0.5% of the land in the Sports City area is earmarked for commercial use, while 29.5% is for residential use. Imposing charges at commercial rates, therefore, is unjustified, they argued.
The body also urged the waiver of penalties and fees imposed during the COVID-19 lockdown period, as construction activity had been restricted by authorities. It further opposed the re-collection of additional farmer compensation, arguing it was already factored into the initial land allotment cost.
Dinesh Gupta also raised the issue of the “Zero Period” and appealed that all projects should uniformly receive the benefit of the Zero Period declared up to 2017. He also demanded the implementation of recommendations made in Amitabh Kant’s committee report to address the problems in the Sports City projects.
CREDAI’s intervention signals growing concern over the fate of homebuyers caught in regulatory and legal deadlocks, calling for immediate policy-level decisions to prevent further hardship.