real estate sector: Ajnara loses land for non-payment of dues after 11 years in Greater Noida

The allotment of land to property developer Ajnara Realtech in Greater Noida (West) was canceled on Saturday for non-payment of dues even after 11 years, officials say. The 8,178 square meter plot is part of a larger plot of 72,962 square meters which was awarded to the developer in 2011 in Sector 16 of Greater Noida (West), also known as Noida Extension, said the Greater Noida Industrial Development Authority (GNIDA).

Residential apartments were supposed to be developed on the 8,178 square meter plot by the developer, but there has been no construction so far, officials said.

“Ajnara Realtech had purchased 72,962 square meters of land from GNIDA in 2011 for approximately Rs 84.34 crore. After paying 10% of the total money, an installment of 90% of the amount was made which was to be paid twice per year,” said GNIDA Special Duty Office (OSD), Soumya Srivastava.

“GNIDA also gave possession of the land to the builder within the stipulated time. Despite this, the builder did not pay the duties or complete the project even after a lapse of 11 years,” Srivastava said.

The OSD said that Ajnara Realtech also got the amount due rescheduled three times, but despite this, the builder failed to pay the unpaid premium amount, lease rent and late completion fees. work due to which the Greater Noida Authority canceled the allocation of the 8,178 square meters. land allocated to him.

Additional GNIDA CEO Aditi Singh said apartment buyers are facing problems due to construction projects not being completed on time.

“On the other hand, due to the non-payment of dues, the financial situation of GNIDA is also affected. This also affects development projects. In such a situation, such strict action against defaulters will continue,” said Singh said.

Surendra Singh, senior officer of IAS and CEO of GNIDA, said that after getting the land allotment, no builder will be allowed to run away without paying dues from the authority and completing the projects at time.

“These builders’ allotments will be rescinded. It is the authority’s priority to provide their dream home to apartment buyers who have invested their hard-earned money,” said Singh, also divisional commissioner of Meerut.

“Similarly, after defaulters of institutional, IT, industrial, commercial and residential properties have been identified, their allocation will be canceled in accordance with the rules,” he warned.

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Elaine R. Knight