Noida authority to act against realtors who violated lease

The authority has also decided to execute registry of flats in Amrapali housing projects, where all paper formalities are completed

The Noida authority said it will start cancelling the housing land allotments and seal unsold flats if realtors do not pay their respective land dues.

The authority has come up with a reschedulement scheme that gives opportunity to defaulting realtors to pay 20% of the total dues and pay the rest in 2 years. (Bloomberg)

Noida authority chief executive officer Ritu Maheshwari on Monday conducted a meeting with group housing department officials in sector 6 and directed them to act against those realtors who have violated the terms of the lease-deed.

“We have directed the department that those developers who have not obeyed our notice and failed to make payment of dues should face action as per the terms of the lease deed. We will cancel the allotment and seal the unsold flats of those who are not paying their dues,” said Maheshwari.

The authority has come up with a reschedulement scheme that gives opportunity to defaulting realtors to pay 20% of the total dues and pay the rest in 2 years. The scheme begins from January 1, 2023 and will end in March 2023, said officials. However, only 2 realtors came forward to the take benefit of the reschedulement scheme.

The authority has also decided to execute registry of flats in Amrapali housing projects, where all paper formalities are completed.

Maheshwari also directed the group housing department to upload current status of the building map, completion, defaulted amount and completion deadline. Homebuyers have for long been demanding that all group housing project be uploaded online so they can make an informed choice, said officials.