Find out financial health of Noida builders as per Authority’s audit

Noida Authority had conducted an independent audit of 51 identified builders based on feedback from the home buyers that the builders had diverted the money meant for construction of their houses to other businesses.. The audit of accounts to find out financial health of Noida Builders (vis-a-vis cost involved in completion of a project) was done by Currie & Brown and was completed last month. As part of the audit, agency had audited builder accounts to find out money invested by homebuyers, money left in builder’s account, money infused in project’s development and money required for completion of project. Based on the audit, it was found out that 18 out of 51 builders have either diverted the money or are in rather poor financial health.

The Authority surprisingly hasn’t yet made public the list of these 18 risky builders. But it has categorically stated that prospective homebuyers should contemplate investing in only the remaining 33 projects out of 51 builders audited. It has further categorized these 33 projects to enable buyers to better understand their financial health and historical handling of homebuyer’s money. The projects have been categorized into A+ to C+ category where A+ implies a good financial condition. Total number of Sanctioned Units in all these 33 Projects are 44,829. Please find below the categorization of financial health of Noida builders (33 out of 51 made public):

S.No.BuilderProjectSectorSanctioned UnitsProject
Category
1Maxblis Construction Pvt. Ltd.GH-17 (Eco City)75608A+
2Valuent Infradevelopers Pvt. Ltd.GH-16 (Eco City)75548A+
3G.S.Promoters Private Limited
Sub Divided on dt. 28.05.2010
Sub Devided Plot
GH-01/C
78633A+
4MPG Realty Pvt. Ltd. (SPC)
Sub Diveded On dt. 26.03.2010
Sub Devided Plot
GH-07/B
1371145A
5Antriksh Developers & Promoters Private LimitedSub Devided Plot
GH-05/A
781568A
6Logix Infrastructure Pvt. Ltd.GH-021373188A
7Divines India Infrastructure P Ltd.GH-004108464A
8I.V.County Infrastructure and Project LimitedGH-0051212907A
9Cloud9 Projects Private LimitedGH-002100606A
10Ambience Projects & Infrastructure Ltd.F-03350270A
11E-Homes Infrastructure Pvt. Ltd.GH-14 (Eco City)75770A
12Opulent Infradevelopers Pvt. Ltd.Sub Devided Plot
GH-01/B
168670A
13Hacienda Projects Pvt. Ltd.
Sub Divided on dt. 02.02.2012
Sub Divided Plot
GH-01/A (Beta -1)
107336A
14Nexgen Infracon Private LimitedSub Divided Plot
GH-01/A
78718A
15IVRCL Infrastructure And Project LimitedGH-0021192172A
16Laureate Buildwell Pvt. Ltd.GH-01, 02 &03108764A
17Sunworlds Developers Pvt. Ltd.
Sub Divided on dt. 31.03.2010
Sub Devided Plot
GH-01/B
107720A
18Perfect Prop Build (P) Ltd.
Sub Divided on dt. 30.06.2010
Sub Devided Plot
GH-03/B
771301B+
19M/S Supertech LtdGH-01A748057B+
20Prateek Infraprojects India Pvt. Ltd.
Sub Divided on dt.
Sub Divided Plot
GH-01/A (Beta -2)
107426B+
21Three C Estates Pvt. Ltd.
(Gulshan Ikebana)
Sub Devided Plot
GH-03/A
1431438B+
22Ajnara India Ltd.,
Divided on Dt. 29.09.2010
Sub Devided Plot
GH-01/B
741745B+
23Indosam Infra Pvt. Ltd.GH-05 (Eco City)75434B
24Gardenia India Ltd.GH-09 (Eco City)75546B
25Today Homes Noida Pvt. Ltd.GH-011351749B
26Sunworld Residency Pvt. Ltd. (Formely known as M/s.)Sub Divided Plot
GH-01/C
168972B
27Paramount Towers Private LimitedGH-061371521B
28Kindle Infraheights Pvt. Ltd.GH-03/B1431614C+
29M/S AIMS MAX Gardenia Developers Pvt. LtdEco City752667C+
30Three Platinum Softech Pvt. Ltd.
Sub Divided on dt. 31.03.2010
Sub Divided Plot
GH-01/C
107759C+
31AVP Buildtech Pvt. Ltd.
Sub Dived on dt. 30.06.2010
Sub Divided Plot
GH-03/C
77496C+
32Futec Shelters Pvt. Ltd.GH-10 (Eco City)75566C+
33PAN Realtors Pvt. LtdGH-01702451C+

When we discussed this categorization with existing homebuyers of some of these projects, they showed their displeasure to the audit. As per some of them, if the conditions of the builders listed is as per categorization, why is work at almost standstill in their projects. They hope that authority will direct such builders to immediately infuse money into the projects for brisk completion of the same.

Source: http://www.noidaauthorityonline.com/BUILDER_PROJECT_HEALTH_JUN18.pdf

Do you agree with the categorization done as per audit or do you feel its fabricated? Comments invited.

 

Last updated: June 8, 2018 at 15:05 pm

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One thought on “Find out financial health of Noida builders as per Authority’s audit

  • June 8, 2018 at 6:55 pm
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    The authority report looks bogus.

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