Alaknanda towers crumbling, Ghaziabad development body asks residents to vacate – ET RealEstate

GHAZIABAD: Expressing concern over the deplorable condition of a highrise complex in Vaishali, the Ghaziabad Development Authority (GDA) has recently asked the resident’s body of the apartment complex to immediately vacate the building till the time retrofitting of the entire structure is not done.

In a letter to the resident welfare body of Alaknanda towers dated March 6, GDA chief engineer VN Singh stated that Rs 3.5 crore was required to get the repairs done and as the authority owns some of the flats there, it is ready to pay a proportion. The letter further stated that in case of any untoward incident, the RWA will be held entirely responsible.

Notably, the Ghaziabad Municipal Corporation (GMC) had declared the Alaknanda Towers, which has 10 floors and 79 flats, uninhabitable in August 2018. It had said that the apartment complex is not only unsafe for its residents but also for the people living nearby. Following which, a safety audit of the tower was carried out by the engineering department of Jamia Millia Islamia university in 2019. The report had stated that the building was structurally strong and it required retro fitting and maintenance.

However, the residents’ body of complex is miffed with the GDA letter. They said that the retrofitting work should be done by the authority itself as “maintenance of the building was not handed over to the RWA yet”, a claim refuted by the GDA, according to which it was done in 2011 itself in the presence of the then RWA officials.

Amit Kumar, treasurer of the RWA, said, “The building is gradually crumbling and the GDA will be fully responsible for any loss of life. We have challenged the GDA stance in the Allahabad high court as well as registered a complaint with the state grievance redressal portal. If the maintenance was handed over to the RWA, how come the authority installed a fire-fighting system in the building? It has also recently advertised about unsold flats in the apartment. GDA has about 23 flats in the tower.”

The RWA also challenged GDA’s claim on maintenance, “Through RTI we have got the so-called handing over letter, which does not have an official stamp. It was not even done on the GDA letterhead. Our RWA was formed only in 2015,” they added.

Meanwhile, a senior GDA official said that the RWA has two options. “Either they pay for the retrofitting or go into an agreement with a developer to build a new tower with increased FRA. This way, the builder will get extra flats to sell and the owners will get new flats free of cost,” the official said.

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Ghaziabad development body raises cost of houses under PMAY – ET RealEstate

GHAZIABAD: The Ghaziabad Development Authority on Saturday enhanced the cost of new houses to be built under the Pradhan Mantri Awas Yojna in the district. The new houses under the PMAY will now cost Rs 6 lakh instead of Rs 4.5 lakh, GDA Vice-Chairman Krishna Karunesh said.

In its board meeting chaired by GDA Chairperson Anita C Meshram, who is also the Meerut zone commissioner, the civic body also raised the developmental charge to Rs 3,314 per square meter at the time of sanctioning maps for new houses in the city.

In Loni, Modinagar and Muradnagar towns, a development charge of Rs 1,200 per square meter has been fixed, he added.

The Board meeting also passed the GDA annual budget worth Rs 1001 crore, said Karunaesh, adding the budget has proposed to earn a revenue of Rs 1,020 crore.

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After lull, Ghaziabad development body flat sales pick up in three months – ET RealEstate

GHAZIABAD: After Covid lockdown woes, the cash-strapped Ghaziabad Development Authority (GDA) seems to be finally finding takers for its properties. Between July and October, GDA sold properties worth Rs 125 crore, officials said on Tuesday.

This comes as a major respite for the GDA as the auction process had to be stalled between April and June due to the Covid-19 lockdown. “GDA was facing funds crunch prior to the pandemic but the lockdown had made matters worse. Now things are looking better,” said a GDA official.

In fact, property sales have started picking up since September. “Our data shows that the development authority auctioned properties worth Rs 125 crore between July and October, which include 30 industrial plots, 30 commercial plots, 128 flats and 15 residential plots,” the official said.

Buoyed by the response, GDA has started holding auctions every Saturday, with a hope that it will be able to auction at least 50% of Rs 300 crore worth properties in the coming days. “Market is showing some signs of revival and we do not want to miss it. So, we have decided to hold auctions every Saturday, except on holidays,” said the official.

As a concession, GDA will allow buyers to deposit 10% of the property amount at the time of auction, 25% after necessary paperwork, and the remaining in instalments, officials said.

Past data suggests that the development authority generated anything between Rs 700cr and Rs 750cr annually from compounding fees, map sanction, dues and rents. But over the past four months, that source of income has dried up.
After lull, Ghaziabad development body flat sales pick up in three monthsAs far as liabilities are concerned, GDA has taken a loan of Rs 800 crore from the NCR Planning Board for its elevated road project and about Rs 900 crore from Allahabad Bank for its Madhuban Bapudham housing scheme. Annually they repay somewhere around Rs 270 crore, which leaves very little with GDA to fund its ongoing projects. As a result, many big-ticket projects in the city have been kept on hold.

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Amrapali homebuyers allowed to sell flats after clearing dues – ET RealEstate

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NEW DELHI: Homebuyers seeking an exit from Amrapali Developers’ projects will now be able to do so as the court receiver has issued guidelines for resale of flats.

Some 40,000 apartments across Amrapali’s housing projects remain incomplete due to financial mismanagement. About a quarter of these homebuyers want to sell their yet-to-be-ready apartments but had not been able to do so as there was no clarity on rules.

As per the court receiver’s guidelines, they will have to clear all the dues and pay an additional Rs 200 per sq ft to be eligible for resale of their flats.

“Many homebuyers were not willing to take their flat even after the assurance of state-run NBCC (India) to complete the stuck housing units as per the schedule. To provide them a solution, a guideline has been prepared, where the buyer can sell the flat if he is fulfilling all the conditions,” said an NBCC official.

NBCC is involved in the completion of 23 housing projects by Amrapali. The estimated cost of completing these projects is about Rs 8,500 crore.

“To mitigate the problem of certain Amrapali homebuyers, it has been decided to allow the pre-registration stage transfers on a specific request made by any concerned Amrapali homebuyer. The facility is, however, not available for contractors, investors, financiers and ex-employee of Amrapali,” the guideline says.

The committee has decided to levy Rs 200 per sq ft as administrative charge, if the property lies in Noida or Ghaziabad, and Rs 150 sq ft if the property is in Greater Noida.

Homebuyers of Amrapali have started paying the outstanding amount from August, as per the latest payment schedule prepared by NBCC.

The state-run company has divided the stuck Amrapali projects into three categories and delivery of flats will start within six months.

As per the schedule, accessed by ET, over 10,000 homebuyers, who will get the possession by June 2021, will have to pay the remaining amount in four installments of 25%. The rest of the homebuyers are allowed to pay in 10 installments of 10%, as per the delivery schedule.

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