Ajnara Loses Greater Noida Land on Non Payment of Dues
The allotment of a land plot to real estate developer Ajnara Realtech in Greater Noida (West) was cancelled on Saturday over non-payment of dues even after 11 years. The 8,178 square metre plot is part of a bigger 72,962 land parcel which was allotted to the developer in 2011 in Sector 16 of Greater Noida (West), also known as Noida Extension, the Greater Noida Industrial Development Authority (GNIDA) said. Residential flats were supposed to be developed on this 8,178 sq metre plot of land by the developer, but there has been no construction on it till date "Ajnara Realtech had purchased 72,962 square metres of land from GNIDA in 2011 for about Rs 84.34 crore. After paying 10 per cent of the total money, an installment of 90 per cent of the amount was made which were to be paid twice every year," GNIDA's office on special duty (OSD) Soumya Srivastava said. "The GNIDA also gave possession of the plot to the builder within the stipulated time period. Despite this, the builder neither paid the dues nor completed the project even after a lapse of 11 years," Srivastava said. The OSD said Ajnara Realtech also got the due amount re-scheduled thrice, but despite that the builder did not pay the outstanding premium amount, lease rent and work completion late fee due to which the Greater Noida Authority cancelled the allotment of the 8,178 sq metres land allotted to it. GNIDA's Additional CEO Aditi Singh said flat buyers are facing problems due to non-completion of builder projects on time. "On the other hand, due to non-payment of dues, the financial position of GNIDA is also adversely affected. It also affects development projects. In such a situation, such strict action against defaulters will continue," Singh said.
Tags : Ajnara Greater Noida Land Non Payment of Dues the Greater Noida Industrial Development Authority (GNIDA) Ajnara Realtech