/Noida to hire private agency to monitor housing projects

Noida to hire private agency to monitor housing projects

NOIDA: The Noida Authority will appoint a private agency to monitor housing projects with thousands of homebuyers still waiting for flats due years ago to be delivered.

The Authority on Friday invited an expression of interest (EOI) to appoint a private agency to monitor the progress of ongoing and delayed projects. The aim is to ensure delivery of flats as per the new schedules that defaulting realtors have committed to.
According to officials, the agency will work as a consultant for Noida Authority. “The idea is to facilitate homebuyers in Noida with respect to mitigating challenges in taking possession of their properties and in us recovering our dues,” said Shishir Singh, additional CEO. “We have been holding tripartite meetings with builders and buyers for some time now. Most of the developers have given us a road-map, time-frame and schedule of how they plan to deliver the residential units to the property owners. We have now invited agencies with experience in housing and real estate to submit their applications for the work, which we will outsource,” he said.

Singh further said the agency will have to ensure timely delivery by monitoring each builder is working towards completion of each project, as promised. “Till now many builders have sold flats to the homebuyers but have defaulted on the delivery, all that should change now after we appoint this agency,” he said.

Interested agencies have been requested to submit their applications by June 5. “The applications can be handed over to Santosh Kumar, officer on special duty, Group Housing, Noida Authority and a soft copy is to be uploaded on www.noidaauthorityonline.com. Interested agencies should have required capabilities and experience in areas such as processes, standard operating procedures, housing, taxation, legal and financial, besides experience in monitoring under-construction projects,” Singh said.

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