NOIDA In the last three years, Yamuna Expressway Industrial Development Authority (YEIDA) has cancelled the land allotment for 14 housing developments for group homes due to breaches of the conditions and terms of the lease deeds, as well as non-payment of the dues on the land.
The officials claimed that the Authority also forfeited more than the sum of Rs 209 crore to developers who were allocated more than 15.25 lakh square meters of land.
According to official records, YEIDA cancelled the land allotment for two developers in 2019, three in 2021, and up to nine by 2022.
There was no funding for the developer’s plot was cancelled until 2020.
Most of the properties that were cancelled are in Sector 22D (10) and Sector 18 (2), then sector 18 (2) and one of them in industries 22A and 26A.
Officials confirmed on Tuesday that several developers, such as Silverline Furnishing and Furniture’s Ltd and SDS Group.
Were allotted the land more than a decade earlier (2011-2012); however, they didn’t begin any construction on the site even.
Yamuna Expressway Industrial Development Authority (YEIDA)
“Many of them also did not even get the format approved by the Authority, let alone start the effort,” Yamuna Expressway Industrial Development Authority, CEO, Arun Singh said.
In addition, several projects sold flats to buyers, but the builders could not pay the dues of YEIDA despite repeated reminders.
Ajnara was granted permission to construct 366 flats on 25 acres in 2011.
And a completion certificate for 695 apartments was issued in September of 2019.
However, despite multiple notifications, it was unable to get rid of any land dues.
In such a situation, the Authority was able to take over the project and transfer apartments to the builders.
Yamuna Authority had cancelled the allotment of land in Panorama
For instance, it was reported that the Yamuna Authority had cancelled the allotment of land in Panorama, the Ajnara Group Housing Project called Panorama located in Sector 22A, because of the non-payment of fees in April.
Officials on Tuesday said that the Authority’s decision was taken following repeated reminders to the developer to pay the Authority’s debts of more than 40 crore rupees.
The Authority also decided to finish the project keeping the buyer’s interest at the forefront.
Then, shortly after that, the developer challenged the Authority’s decision in Allahabad High Court, saying that the Authority assessed an untrue amount.
And that no attention was given to the developer’s demands for rescheduling payments.
According to officials who are familiar with the details, there are fifteen housing groups in which 21,396 flats were sold.
And the authorities will now be able to issue lease agreements for more than 12,000 homeowners at the end of the year.
The official figures also showed that 5538 sublease deeds were signed up to the 31st of March 2022.
And there’s a goal to complete another 6,476 at the close of December.
9382 more units sold are in nine different projects, including those from developers such as Jaypee, ATS, 3C, Emerald Promoters, Supertech & Oasis Realtech, among different builders.
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