Noida to reveal defaulting developers on its website

The step followed the authority’s chief executive officer Lokesh M review of the progress made on recovery of dues pending against property owners including the developers

NOIDA: The Noida authority has decided to make defaulter developers and other property allottees details public by putting the list on its portal, officials said on Thursday.

During the review meeting on Wednesday evening, attended by senior officials, the CEO stressed on the need to review the current plot allotment schemes across all asset departments and complete scrutiny within a month, so allotments can be issued without delay, said officials aware of the development. (HT Archives)

The step followed the authority’s chief executive officer Lokesh M review of the progress made on recovery of dues pending against property owners including the developers.

The authority hopes to recover its financial dues by shaming financial defaulters, who haven’t paid their respective financial dues despite repeated notices to them, said officials, adding that residents will soon be able to check all notices issued and dues owed by property allottees across departments online.

“The updated lists will be uploaded on the authority’s website, giving homebuyers and investors easy access to information and helping prevent fraud in buying and selling of properties in the city,” said Lokesh M.

During the review meeting on Wednesday evening, attended by senior officials, the CEO stressed on the need to review the current plot allotment schemes across all asset departments and complete scrutiny within a month, so allotments can be issued without delay, said officials aware of the development.

Also, the new allotment plans are to be prepared to meet growing demand by the investors, who want to set up their business in the city, they added.

The authority has instructed that notices be issued to all major defaulters, including those in group housing, commercial, industrial, and other sectors. Chronic defaulters will also face Recovery Certificates (RCs) to ensure timely revenue recovery.

“We, at CREDAI, advise the realtors to adhere to the rules and comply to the authority directions so that the projects can be completed and homebuyers get delivery. The authority’s move to put details online will establish transparency and accountability,” said Dinesh Gupta president confederation of real estate developers association of India.