Homebuyers crushed as Yamuna Expressway Authority bans sale of flats, construction work
In a major setback to investors and developers, the Yamuna Expressway Industrial Development Authority (YEIDA) on Wednesday asked 17 developers not to carry out construction work. It also banned the sale of flats.
The authority earlier had cancelled building maps of 17 group housing projects owned by Jaypee Infratech, Gaursons, Orris Group, VGA Developers and Ajnara Group.
“Out of 17, 11 belong to Jaypee Infratech, two are of Gaursons and one each is owned by Ajnara, Orris Group, VGA Developers. The projects are located in sector 19, 25 and 22B located along the Yamuna Expressway,” YEIDA CEO, Arunveer Singh, told DNA.
“We have made it clear to all developers to not carry out any kind of construction work and sale of flats. We have formed a team to keep an eye out for it. If any developer is found guilty then stringent action will be taken,” Singh said.
“The developers have not got the map approved within specific time. The builders have also sold out flats to home-buyers without getting the requisite approvals,” he added.
The move is likely to affect hundreds of home-buyers, who have made investments into these housing projects.
On April 15, this year, the Yamuna Expressway authority had also cancelled five housing …read more