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Propmyna Khabri
Allahabad HC fines Noida builder for 13-year possession delay
Ever worry about endless possession delays? The Allahabad High Court just sent a powerful message to builders in Noida. M/s Aims Max Gardenia Developers Pvt. Ltd. was fined ₹2.5 lakh for a 13-year delay, plus 24% annual interest for the homebuyer, reinforcing that possession isn't complete without an Occupancy Certificate. Does this ruling truly shift the power dynamic for buyers in Noida? Do you think this changes the market outlook for investors?
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Comments
I think it's a mixed bag. On one hand, it's good that the judiciary is holding builders accountable. It sets a precedent. On the other hand, a single fine, however large, won't magically fix the systemic issues. The bigger builders with deep pockets might just absorb these fines as a cost of doing business. What we need is proactive regulation and faster dispute resolution. Kya yeh ruling baaki states ke liye bhi ek example set karega ya sirf UP tak limited hai?
Technically, High Court rulings can be cited in other states as persuasive precedent, but it's not binding. So, other states' courts might consider it, but they're not obligated to follow. Still, it's a strong indicator of judicial intent. But will it make builders in, say, Alpha II, change their ways? Doubtful.
Hope so! Fingers crossed.
Exactly! Baaki states mein bhi aise cases hone chahiye. Tab jaake builders pe asar padega. Abhi toh sirf UP mein hua hai, let's see. But it's a good start.
This definitely impacts the market outlook, especially for investors looking at quick returns. If delays are penalized so heavily, developers will have to be more disciplined. It might even push up prices slightly for new projects, as builders factor in stricter compliance costs. But then again, buyers ki trust badhegi toh demand bhi badhegi. Noida ka real estate market abhi bhi volatile hai, but ye ruling positive sign hai.
Meri toh suno, maine 2018 mein Ajayabpur ke paas ek plot book kiya tha, bola tha 2 saal mein ready ho jayega. Abhi tak kuch nahi hua, bas date pe date mil rahi hai. Builder phone bhi nahi uthata ab. Is ruling se mujhe kuch hope dikhti hai ya bas ek headline hai? Kya RERA mein complain karne se sach mein kuch hota hai?
U3, RERA mein complaint karna chahiye, but ensure you have all documents in order. Booking agreement, payment receipts, communication with builder, sab kuch. Maine ek baar galti ki thi, documents complete nahi the, toh bahut time lag gaya. Aur haan, Occupancy Certificate ke bina possession lena is a big no-no, builder kitna bhi pressure daale. That's what this ruling highlights.
Hope toh hai, but system bahut slow hai yaar.
Haan RERA mein complain karne se kuch toh hota hai. Mere friend ne Greater Noida West mein ek project ke liye complain ki thi, usko builder ne settlement offer kiya tha after some time. It's a slow process, but worth trying. At least ek legal framework toh hai.
Dekho, ruling toh achi hai paper pe, but does it really change anything on the ground? Yeh Aims Max Gardenia ka case toh ek drop in the ocean hai. Kitne aur builders hain jo aise hi possession delay kar rahe hain, aur kitno pe action hoga? I'm still skeptical. Builder log ke paas loopholes nikalne ka har tareeka hota hai. Noida mein projects ki toh bharmaar hai, especially around Alpha I Greater Noida, wahan toh delays common hain.
Totally agree. Ek builder pe action ho gaya toh baaki sab sudhar jayenge, aisa toh nahi hota. They'll just find new ways to exploit. We need more consistent action, not just one-off cases.
Finally! This is the kind of news we first-time buyers have been waiting for. Builder log aise hi karte hain, dates pe dates dete rehte hain. ₹2.5 lakh fine aur 24% interest, that's a strong message. Lagta hai ab builders thoda darenge.
Sahi baat hai bhai. Mera bhi ek project Noida Extension mein 2 saal se latka hua hai. Sunke thodi himmat aayi hai.