The Yamuna Expressway Industrial Improvement Authority (YEIDA) on Wednesday mentioned it has cancelled the allotment of land parcels to Sunworld Infrastructure and Supertech Township close to the upcoming Noida Worldwide Airport and proposed Movie Metropolis over pending dues.
Round 100 acres of land had been allotted to each actual property builders to make townships in Sector 22D alongside the Yamuna Expressway. Sunworld Infrastructure owed Rs 164.86 crore whereas Supertech Township had pending dues value Rs 137.28 crore, in response to YEIDA.
Additionally, the authority, which features underneath the Uttar Pradesh authorities, has given time until August 31 to developer ATS Realty and Greenbay Infrastructure until July 31 to clear their dues.
The pending quantities are 25% of the whole dues these builders owed to the authority which the state authorities had allowed to proceed with the works consistent with the suggestions of the Amitabh Kant Committee on legacy stalled tasks.
The choice for land cancellation was introduced after the 81st board assembly of the YEIDA at its workplace in Larger Noida. The assembly was chaired by YEIDA’s chairman Anil Kumar Sagar.
Briefing the media after the assembly, YEIDA CEO Arun Vir Singh mentioned, “ATS Group had some funds in its escrow account which was not counted in our tally however has now been taken in our account afresh. They (ATS) have been given time until August 31 (to clear the dues).”
“There are six allottees who’ve paid up 100% of their dues. Aside from these, there are two allotees – Sunworld and Supertech – who haven’t paid their dues. A call has been taken to cancel their land allocations, excluding the curiosity of the consumers, who’ve third social gathering rights, in each these tasks,” Singh mentioned.
Each these cancelled land parcels are in Sector 22D alongside the Yamuna Expressway and near the upcoming Noida Worldwide Airport and the proposed Worldwide Movie Metropolis, he mentioned.
In accordance with YEIDA, Greenbay Infrastructure deposited an quantity of Rs 92 crore with the authority and has been given time until July 31, 2024 to deposit the remaining Rs 7 crore, whereas ATS Realty has deposited Rs 5 crore and given time until August 31 to clear the remaining dues.
After the stipulated time interval, Omnis Builders has deposited an quantity of Rs 9.54 crore, whereas Logix Buildstate has cleared Rs 62 crore dues, Ajay Realcon and Starcity Builders have cleared dues value Rs 2.12 crore and Rs 3.38 crore, respectively, it mentioned.
Singh, a senior IAS officer, mentioned some extra builders who’ve pending dues have both their tasks in insolvency proceedings or have their circumstances pending in several courts.
