Plot allotment dues: Noida Authority prepares defaulters' list

By Ramesh Kumar
Photo: City Spidey
Posted: Apr 16, 2019

In order to take action against the defaulters, the Noida Authority has prepared a list of developers who owe more than Rs 10500 crore against plot allotments for developing group housing projects across the city.

The Noida Authority is the agency which owns the land.

The list, prepared by the authority, consists of 25 developers against whom Rs 10563 crore is pending.

Talking to City Spidey on this matter, RK Singh, the officer on special duty (OSD) said, “We are chalking out a plan to clear all the dues. In fact, a review meeting was called off in this regard.”

Granite Gate Property Limited, which is developing group housing project Lotus Panache in Sector 110, tops the defaulters' list with Rs 500 crore pending. Whereas realty majors, Unitech and Amrapali, are facing litigation.

3C Company, developing housing projects in Sector 105, owes Rs 366 crore to the authority.

The list also includes Gardenia, Logic City and Omaxe who owe Rs 344, 270 and 265 crore respectively.

“According to our action plan, we would invite those developers for a meeting who have paid the amount for a particular housing project but are yet to pay for other pending projects. We will discuss the issue and ask them to clear the dues,” Singh said.

He further added that other developers, who have not been mentioned in the list, will also be served notices to clear the pending amount.

“If we find the developer is not in a position to clear the dues, the allotment will be cancelled,” RK Singh concluded.


TAGS: Noida news / local news / Noida Authority / officials / builders / developers / dues / pending amount / Rs 10500 crore / defaulters' list / defaulters / notices / issued / plot allotment / cancelled / meeting / officer on special duty / buyers / Sector 105 / Sector 110