Noida: The district administration of Dadri tehsil has announced that it will auction 38 shops of Wave Group, which is the biggest defaulter in the area. These shops are located in the prominent area of Noida, Sector-18. The auction is scheduled to take place on May 29, and the district administration has already attached these shops due to non-payment of dues.
Alok Gupta, the SDM of Dadri, stated that Wave Group owes more than Rs 100 crore, and the amount will be recovered by auctioning these 38 shops. The highest bidder in the auction will have to give a bank draft of 25% upfront and full payment of the cost of the property within 15 days.
The district administration has also clarified that the buyer of the shop in the bid will have to pay all the dues as per the rules of the authority, including any government dues. The proposed price of the shops to be auctioned has been given by the administration, ranging from Rs 45.95 lakh to Rs 2.68 crore, with the smallest shop being 179.49 meters and the largest being 1142.61 meters.