Noida seals two apartments, commercial space in Sector 50 society over dues

The Noida authority said the realty firm till December 31, 2023, owed the authority ₹55.27 crore in land cost dues against the group housing plot

The Noida authority has sealed flats and shops of realty firm TGB infrastructure Private Limited in Sector 50 after the firm failed to pay ₹55.27 crore land cost dues despite repeated notices.

On December 27, 2024, the Noida authority urged the Gautam Budh Nagar district administration to issue a recovery notice to the realty firm as per the procedure, said officials. (Sunil Ghosh/HT Photo)

“We have ordered the sealing because the realty firm failed to clear the financial dues despite multiple notices,” said Lokesh M, chief executive officer, Noida authority.

TGB infrastructure has a group housing plot in Sector 50. The Noida authority said the realty firm till December 31, 2023, owed the authority ₹55.27 crore in land cost dues against the group housing plot.

On December 27, 2024, the Noida authority urged the Gautam Budh Nagar district administration to issue a recovery notice to the realty firm as per the procedure, said officials.

The authority has sealed an unsold apartment of 6,500 square feet and another apartment of 7,500 square feet and a 1,000 square feet commercial space. The commercial space is located in Tower Y on the ground floor, said officials.

Earlier, in November 2024, the Noida authority cancelled the allotment made to two commercial projects and five institutional projects as the owners failed to clear financial dues. The authority is running a drive against the financial defaulters on the instructions from the Uttar Pradesh government.

Uttar Pradesh chief secretary Manoj Kumar Singh on October 27, 2024 had directed the Noida authority to cancel the allotments of those who fail to pay the land cost dues despite repeated notices after sending them a last warning notice, said officials.

The authority cancelled the allotment of two commercial properties in Sector 53 as one individual allottee failed to clear dues of ₹1.44 crore and ₹1.18 crore. As per the process, the authority will take over the two properties and resell them.

The authority also cancelled five allotments of institutional properties that include four plots meant for corporate offices and one meant for information technology related businesses.

The four corporate offices are located in sectors 1, 16A, 127, and 62. The authority needs to recover ₹5.41 crore from corporate offices in Sector 16A, ₹4.63 crore from Sector 127, ₹1.32 crore from Sector 1 office, ₹1.3 crore from Sector 62 based corporate office. The authority also needs to recover ₹2.24 crore dues from the IT office plot in Sector 62, said officials.