NOIDA: With bankruptcy fear increasingly gripping the already-stressed-for-liquidity developers, two builder bodies in Gautam Budh Nagar have pressed the alarm button for an immediate government bailout to help them tide over the Covid-induced economic crisis. They say around 100 under-development realty projects in Noida, Greater Noida and the Yamuna Expressway region need Rs 5,000 crore to fast-track construction.
While Naredco on Friday urged Union finance minister Nirmala Sitharaman for delaying NCLT case admissions by a year and pressed for a bailout as well, Credai demanded that all dues with the development authorities in the three regions be given the ‘zero-period benefit’ so that funds could be diverted for completion of projects.
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