Unitech's fiasco puts Greater Noida Authority in a fix

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Unitech's fiasco puts Greater Noida Authority in a fix

Authority cancels allotment of 100-acre plot to builder. Buyers protest against Authority, demand land and refuse to accept refund.

Unitech's fiasco puts Greater Noida Authority in a fix

Greater Noida Authority has come under fire for cancelling the allotment of a 100-acre plot of land in Omicron Sector to Unitech Group. About 50 to 60 buyers of plots in the land demonstrated against the Authority in front of its office on Friday.  

Six years ago, Greater Noida Authority had allotted the plot to Unitech Group. Once the bookings for plots began, 352 people bought land there. The builder, however, defaulted on payment to the Authority and deposited only Rs 120 crore. When the Unitech Group did not deposit the remaining amount even after repeated reminders, the Greater Noida Authority cancelled the allotment.

Buyers say that they had taken loans to buy plots, but now they are in a fix. Rakesh Sharma, one of the buyers, told City Spidey, “I had purchased a plot from Unitech Group six years ago. Now that the allotment has been cancelled, where should the buyers go?”

Greater Noida Authority is also aware of the buyers' predicament. PC Gupta, ACEO of Greater Noida Authority, said, “We held a meeting with the plot buyers as the Authority is sensitive towards their plight. We offered to refund money to the plot buyers but they declined the offer. The buyers are insisting on getting the land as promised by the builder, so that they can build houses. The Authority is reviewing the case again and will inform the buyers about what it can do for them.”