Noida Extension Buyers: Protest Rate Hike


While builders and developers at Noida extension plan to start construction activity once the rains are over in the next few days, NEFOWA (Noida Extension Flat Owners Welfare Association) has refused to pay the hike in rate as was being proposed by various builders and developers. 


Ms. Shweta Bharti, General Secretary, NEFOWA claimed Rama Raman, CEO, GNIDA, mentioned there would not be any price hike for existing buyers.

Even in the meeting with the builders or /developers on recently, Rama Raman had instructed them not to effect any price hike for existing buyers & said them to take utmost care of the buyers as they have stood with the authority for the last one and half years patiently.

"In spite of this, a few builders / developers have started giving statement in newspapers regarding price hike for existing buyers with the excuse that the cost of materials & labour have been increased, which is totally unfair", Ms. Shweta Bharti said adding NEFOWA will oppose the move to hike the rate.

The middle class house buyers have been extra burdened with the bank EMI (##) and huge rent for the past one year.

Ms. Shweta Bharti also said, "NEFOWA will fight against such actions by the builders at each and every level. We can not accept the price hike for the existing buyers at any cost. We will not agree to any of the excuses made by the builders"

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