GreNo Authority revokes land allotment to Lotus SRS Buildtech
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GreNo Authority revokes land allotment to Lotus SRS Buildtech

The authority had allotted five acre land to the Lotus SRS Buildtech on lease for a housing project.

GreNo Authority revokes land allotment to Lotus SRS Buildtech

The Greater Noida Authority on Wednesday cancelled the land allotted to Lotus SRS Buildtech for nonpayment of its outstanding dues. 

The authority had allotted five acre land to the Lotus SRS Buildtech on lease for a housing project in Greater Noida. But the realtor was not regular in payment of its land tax. Hence, the dues kept piling and now now it owes Rs 9.50 crore in dues to to the authority.  

As the Lotus SRS Buildtech failed to pay up its dues despite repeated reminders it decided to revoke the allotment. 

A senior official in Greater Noida Authority said, “The builder neither paid the land dues to the authority nor applied for map approval for the project.”

The decision to cancel land allotment was taken by Narendra Bhooshan, chief executive officer of Greater Noida Authority. Last week, the authority had issued recovery certificates against a couple of builders. 

The authority is also likely to issue RC against some more builders in near future. In a press release issued to the media, the authority informed that it had recovered land dues of Rs 307.76 crore from eight builders.