Noida Property Buyers Facing Delays to getting Apartments

Real Estate, GR Noida Property, NCR Property, Noida Property

These days various property developers across India go very slow in construction because of labor shortage, costly building materials and liquidity drying up, property buyers are hurting, especially for those people who have bought apartments in the Noida-Greater Noida region.

Logix Blossom County Noida Expressway

Almost 1 lakh buyer were affected in last year in Noida Extension and Yamuna Expressway land-acquisition controversy that led to builder having to pay extra compensation to farmers—money that will be raised from those people who already purchase apartments in this region.
If we talking about delays, also hit the various buyers who have purchased the homes in one of the largest real estate developments – Jaypee Wish Town in Sector 128 of Noida region, which being developed by Jaypee Greens, the real estate arm of Jaiprakash Associates Ltd. (JAL), an one of the leading infrastructure company of Norther India that also runs hotels, cement plants, utilities and recently opened the Buddh International Race Circuit (Formula 1), which successfully hosted India’s first Formula One Grand Prix.
Jaypee Greens is developing approx 25 residential projects which, is comprising almost 30,000 units in the Noida-Greater Noida Region. More than 3,000 units are developing for mid-segment to upscale residential projects which include Kalypso Court, Pavilion Court, Pavilion Height, Kensington Boulevard, Kosmos and Jaypee Klassic which have been delayed more than two years already.
Various residential projects in this region launched in early 2008 and 2009, the first three were scheduled to be completed by 2011. Pavilion Heights was launched in 2009 and expected to be ready in 2012, but it’s not ready yet and it will take 1 year more for giving the possession. Pavilion Court is also running behind schedule by a 1.5 year. The other projects of wish town are running behind schedule by almost 2-2.5 years.
If we talking about other residential projects in Noida-Greater Noida Expressway region like Paras Tierea, Logix Blossom County, Logix Blossom Greens, Ajnara Daffodil, Supertech Ecocity etc all are delayed almost 1.5 – 2 years already. But builder like Logix, who said we will possession within 1.8 months but today’s scenario is really upset for their consumers and it will take at least 1 more year to finish their project. Developers weren’t able to get any more specific on completion dates in these projects.

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Real Estate, GR Noida Property, NCR Property, Noida Property

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