GreNo Authority issues recovery certificates against 3 real estate firms
GreNo Authority issues recovery certificates against 3 real estate firms
Praveen Dwivedi
GreNo Authority issues recovery certificates against 3 real estate firms
Photo: CitySpidey

GreNo Authority issues recovery certificates against 3 real estate firms

Greater Noida Authority on Wednesday issued recovery certificates (RC) against three real estate firms named, AVJ Developers, ANS Apartment, and Omaxe Build Homes, over pending dues of Rs 218.19 crore.

The decision was taken during a meeting held on Tuesday, and it was decided that the authority would issue recovery notices to those who have been repeatedly defaulting payment of land dues. If they fail to pay again, the authority would cancel their land allotment.

As per the information, the authority is due to collect Rs 6,879 crore as land dues from the commercial department, Rs 561 crore from the industrial department and Rs 575 crore as land dues from the institutional department.

The authority conducted a review meeting on Tuesday to prepare an action plan on how it can recover its money from the defaulters.

“We have decided to issue recovery notices to those who have repeatedly failed to pay land dues. If they fail to do so again, we will cancel their allotment and take back possession of their property,” said Narendra Bhushan, CEO of Greater Noida Authority.

A press note issued by the authority also suggested that it had earlier issued RC against some other developers – Omaxe Ltd, Ntitshree Developers, Mapal Realcon, JMDR Infra Projects and Diligent Builders to recover its dues of Rs 123.18 crore.