Noida admin attaches flats, villas worth over ₹344 crore over dues on builders

The properties would be soon put on e-auction to recover the money the developers owe to the government, stated the order issued by Additional District Magistrate (Finance and Revenue) Vandita Shrivastava.

The Gautam Buddh Nagar administration Wednesday attached flats, villas and land plots worth ₹344.23 crore over the non-payment of dues by 32 real estate developers, according to an official order.

According to the order, 162 flats, six land plots, five commercial spaces and 28 villas have been attached by the district administration. (Amal KS/HT PHOTO)

The properties would be soon put on e-auction to recover the money the developers owe to the government, stated the order issued by Additional District Magistrate (Finance and Revenue) Vandita Shrivastava.

According to the order, 162 flats, six land plots, five commercial spaces and 28 villas have been attached by the district administration.

"These properties been attached over non-payment by these builders despite recovery certificates being issued by the Uttar Pradesh Real Estate Regulatory Authority (RERA)," Shrivastava said.

"The estimated value of these properties has been put at ₹344.23 crore. These immovable assets will be auctioned online through local industrial development authorities, for which permission has been sought from the state," she added.

The immovable assets of the 32 builders lie in Dadri and Sadar tehsil areas of the district spread across Noida and Greater Noida.