News

Developers Warned By YEIDA To Stop Illegal Selling Of Flats

Strict action will be taken against the builders who are involved in illegal selling of flats and taking money from homebuyers, as announced by the Yamuna Expressway Development Authority (YEIDA).

An order has been issued stating that if the builders do not stop selling flats which are a part of unapproved or illegal project, YEIDA will be forced to take some legal actions against such builders. This order being passed is a consequence of many homebuyers being cheated by developers in residential projects.

All the officials of the three authorities – Greater Noida, Noida and Yamuna Expressway- have been strictly instructed by the Chief Minister, Yogi Adityanath, that homebuyers should not be exploited or should not face any kind of duping by the builders.

The notice which the CEO of YEIDA has issued strictly warns the builders to stop the practice of selling flats of whose building maps are not properly approved by the concerned authorities. It is completely illegitimate to sell flats without the building layout map being approved.

The builders and developers have also been instructed by the authority to provide all the details of the flats that have already been sold off.  They have to give information regarding the amount of money they have collected till date from the homebuyers. This is because the Yamuna Authority doesn’t want the homebuyers to keep spending money in projects that have not even received approval from the concerned authorities.

Team iPropUnited

Share
Published by
Team iPropUnited
Tags News

Recent Posts

Ways to reduce interest rates on home loan

Buying a home is a significant milestone, but the hefty price tag isn't the only…

3 weeks ago

The Ins and Outs of Tax Lien Certificates: A Guide to Profiting from Property Tax Liens

Tax lien certificates are those that are given to investors who demonstrate their interest in…

3 weeks ago

Property Rights in Second Marriages: Rights of Second Wives and Children under Hindu Law

The Hindu Marriage Act of 1955 and the Hindu Succession Act of 1955, respectively, set…

3 weeks ago

What are the benefits of paying rent via Credit Card?

Paying a house rent is an important and recurring monthly expense for an individual. Generally,…

3 weeks ago

Under Construction vs Ready for Possession Property Investment

Investing in real estate necessitates a lot of research, legwork, and hefty investments. Hence, a…

3 weeks ago

Procedure of property transfer

You're buying or selling a property – an exciting time filled with possibilities. But amidst…

3 weeks ago

This website uses cookies.