Plot allotted to Assotech Infrastructure cancelled, but what about the buyers?
Welcome To CitySpidey


Plot allotted to Assotech Infrastructure cancelled, but what about the buyers?

After several notices to the builder, Greater Noida Authority had to finally cancel the allotment made way back in 2006.

Plot allotted to Assotech Infrastructure cancelled, but what about the buyers?

Greater Noida Authority cancelled allotment of a plot to Assotech Infrastructure on grounds of non-payment of outstanding deposits. The builder did not start construction on the allotted land, spelling trouble for 800 buyers.

Shri Janardhan, additional CEO (ACEO) of Greater Noida Authority, said, “The Authority had allotted 18,141 sq m of land to Assotech Infrastructure in Sector Pi in 2006. The builder had to complete the project by September 5, 2012. It was then to obtain the completion certificate. But the builder has not even started construction!”

According to the ACEO, the builder did not even get the project map approved by the Authority.

A notice was sent to the builder on June 2, 2015, and a reply was sought within 15 days. The CEO had decided at the time to cancel the plot, but the builder was given another opportunity. The Authority gave an extension to the builder in lieu of a delayed fee of Rs 1.63 crore, and a fresh 2016 deadline.  

But the builder still did not comply.

Shri Janardhan said, “The Authority gave the builder enough time to complete the project. It was to pay a delay fee of Rs 1.63 crore by September 4, 2016. But the builder neither deposited the delay fee, nor did it initiate work on the project site. The allotment had to thus be cancelled.”

Thereafter, a final notice was issued to the builder on February 22, 2017. This notice, too, went without a response.

The builder also skipped a hearing on May 18. The hearing finally took place on June 1. It argued that the issue was "sub-judice" and farmers were obstructing construction at the project. It also did not deposit the additional compensation amount.

The ACEO further said that the security deposit of the builder had been seized. Twenty-five per cent of that amount will be deducted by the Authority, while the rest will be deposited into an escrow account.

Additionally, owing to the project map not getting an approval from the Authority, flats cannot legally be booked. However, according to sources, the builder has already issued bookings to about 800 buyers.

The cancellation will weigh heavily on these unwitting buyers, who now find themselves wondering how to get their money back.