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A sigh of relief to property buyers in Noida

No Comments Sub Category:Uncategorized Posted On: Nov 15, 2011

The Confederation of Real Estate Developers’ Associations of India (CREDAI) have flavored in a sense of relief to the property buyers in Noida extension. CREDAI has decided to pause the interest on pending EMI payments to the property buyers who have already made 10 percent booking payments. High Court (HC) orders forced the developers to draft a letter to the property buyers to pay interest on the pending installments. Shweta Bharti a member of Noida Extension Flat Owners and Members Association (NEFOMA) was reported saying that, the court orders have left the buyers in dilemma and has pinched in lot of confusion in concern with the interest payments.

She questioned on how they can pay a sum of Rs. 50,000 at one shot to the builders within a short period of time granted to them. Listening to the buyers disguise, CREDAI vice president Anil Sharma convinced the buyers by saying that he will pass on orders to the developers to withdraw the demand letter and also highlighted saying, there would not be any changes made either in the floor area plan or in the green building norms. He also agreed, the dilemma caused in concern with the interest and EMI payments to the buyers. The constructions which will be started in future is sure to be examined by the CREDAI, developers and the property buyers are promised to be in safe hands.

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