projectsA private agency will be hired by the Noida Authority for supervising and examining the residential projects as hundreds of homebuyers are still waiting for their flats to be delivered.

On Friday, an Expression of Interest (EOI) was requested by the Authority for appointing a private agency to look into the issue delayed project or even the ongoing ones. The main motive of this agency will be to get the flats delivered as per the time promised by the realtors.

The private agency will play the role of a consultant for Noida Authority. The aim behind forming the agency is to encourage homebuyers by alleviating the challenges they face in getting the possession and also to recover the dues of Noida Authority. Three party meetings have been conducted between the authority, homebuyers and builders for quite some time now. Many builders have provided the authority with a time-period, road-map and schedule explaining how the units will be delivered to the homebuyers.

The private agency will have to ensure that all the builders are working properly for the timely completion of the project.

Some agencies which have sufficient experience in real estate and housing have been asked to submit the applications by 5th June. These interested agencies should have suitable potential in the field of taxation, standard operating procedures, housing, financial and legal, along with an experience in examining the ongoing projects.