UP govt may clear Supertech’s 100-acre Yamuna Expressway to protect buyers

Citing the serious slump in NCR’s real estate market, senior UP government officials indicated on Friday they are likely to take a favourable view of real estate firm Supertech’s appeal against the cancellation of the completion certificate for its Upcountry project in Sector 17A.

LUCKNOW/NOIDA: Citing the serious slump in NCR’s real estate market, senior UP government officials indicated on Friday they are likely to take a favourable view of real estate firm Supertech’s appeal against the cancellation of the completion certificate for its Upcountry project in Sector 17A along the Yamuna expressway.

“Keeping the interest of buyers in mind, the government could consider clearing the project but a final decision will, of course, rest with chief minister Akhilesh Yadav, who also handles the industry portfolio,” a senior UP government officer told TOI.

The 100-acre township had run into trouble after the Yamuna Expressway Industrial Development Authority (YEIDA) cancelled its building plan. The first plan was cleared on the basis of 2009 bylaws. But then a letter reached YEIDA, saying Supertech be allowed to make use of the 2010 bylaws. And its second plan was subsequently cleared. In 2015, after scrutiny, it turned out the letter was forged. Supertech’s part completion was stalled.

The forgery was reported to the UP government by two successive YEIDA CEOs. Supertech had told TOI it was not aware of any such letter. R K Arora, CMD of Supertech, said the Upcountry project had not been scrapped, as mentioned in the headline of a TOI report on May 24. “On October 19, 2015, YEIDA cancelled the sanctioned building plan and denied us the part completion we had sought. However, the project has not been scrapped,” Arora said.

“The building plan was cancelled due to a minor issue. We are in talks with the UP government and we are hopeful it will provide us with a speedy solution,” he added.

Sanjay Agarwal, principal secretary in the department of infrastructure and industries, confirmed to TOI the letter seeking change in building plan was forged. He said his office was looking into the issue of the building plan violation. “We have received a representation from Supertech that is pending with us,” Agarwal said.

“My office had also sought, and received, comments from YEIDA on this issue. However, I have not had a chance to examine the details yet. At present, I can confirm that my office has already replied to YEIDA confirming that the letter that was used was forged,” he added.

But with the investments of 4,000 homebuyers hanging in balance, a senior government officer who did not wish to be named said protecting their interest is the state’s priority.

“The government may ask the builders to pay a penalty for the alleged violation, and then regularise the project,” the officer told TOI.

Source: http://realty.economictimes.indiatimes.com/news/residential/supertechs-100-acre-noida-project-may-be-cleared-to-protect-buyers/52613520

 

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