Following Noida Authority’s invitation for Expression of Interest (EOI) from agencies capable of monitoring defaulting housing projects in the city, 12 private agencies have applied so far.
The invitation was issued by Noida Authority on May 26 so delivery of flats could be made according to the schedule given to homebuyers by developers.
Noida Authority had said private agencies with expertise in construction could apply till June 26. After that, it would process applications and select an agency that would monitor the projects and submit weekly reports.
An official said a private agency would be hired within a month.
“We do not have manpower in the planning department to monitor under-construction housing projects, and hence the decision to hire a private agency,” the official said. “If the agency informs us that a particular builder is not carrying out construction properly, we will act on it.”
Applicants should fulfil the following criteria:
1. The bidder should have experience in areas of housing and real state.
2. The bidder should have the requisite capabilities in areas such as standard operating procedure, taxation, law and finance, etc.
3. The bidder should have experience in monitoring at least three construction projects valued at Rs 250 crore or more in the past three years.
4. Average annual turnover of the firm should be at least Rs 10 crore.
2. The bidder should have the requisite capabilities in areas such as standard operating procedure, taxation, law and finance, etc.
3. The bidder should have experience in monitoring at least three construction projects valued at Rs 250 crore or more in the past three years.
4. Average annual turnover of the firm should be at least Rs 10 crore.
