Greater Noida:Yamuna E-way authority cancels land allotment to two defaulters
The two had been alloted land in 2009 and have not been paying instalments since 2013noida Updated: May 24, 2017 22:33 IST
The Yamuna Expressway industrial development authority (YEIDA) on Wednesday cancelled allotment of two institutional plots after the allottees failed to clear land dues.
In 2009, the authority had allotted 25 acres each for institutional purposes to MMA Grain Mills Private Limited and Tyagbuild Space Private Limited. The land was allotted in Sector 17A behind Galgotia University near the Formula One track along Yamuna Expressway. The two allotees, who had wanted to build institutional projects, stopped payments of land dues in 2013.
“I decided to cancel the land allotment because the two parties had not been paying land dues. MMA failed to pay Rs20 crore premium, Rs12 crore development charges and Rs7 crore to be given as hiked land compensation to farmers. Tyagbuild failed to pay Rs16.49 crore premium, Rs10 crore development charges and Rs4.5 crore as hiked compensation,” said Arun Vir Singh, chief executive officer, YEIDA.
YEIDA has decided to exercise zero tolerance towards builders and other allottees who fail to clear land dues for a long time.
“We have given enough time for each allottee to clear land dues. If a builder or an allottee repeatedly fails to clear the dues, we have no option but to cancel allotment of land and allot it to fresh applicants so that we can urbanise the areas along Yamuna Expressway,” said Singh.
The authority is facing a financial crisis due to major realtors not clearing their dues. The authority also owes around Rs3,000 crore in debt to leading banks and the Noida authority.
Earlier, YEIDA chairman Dr Prabhat Kumar had ordered the authority staff to lodge FIRs against builders defaulting on land dues. The authority had also issued notices to 20 realtors who cumulatively owe YEIDA around Rs700 crore in unpaid dues.
First Published: May 24, 2017 22:33 IST