NOIDA: The Yamuna Expressway Authority (YEIDA) on Friday cancelled the allotment of a 30-acre land to the SDS Group in Sector 26A over non-payment of Rs 223 crore dues even after 11 years.
On August 16, 2011, the Authority allotted the land in Sector 26A for a gaggle housing undertaking to the developer. However thus far, the developer has didn’t launch the undertaking, in line with YEIDA officers.
Of the Rs 223 crore excellent, Rs 158 crore is instalment dues, Rs 49 crore is extra compensation dues and Rs 16 crore is lease lease dues.
CEO Arun Vir Singh mentioned regardless of repeated notices, the builder didn’t clear the dues. “No undertaking map was accredited. Due to this fact, no work was carried out on the plot.”
As per guidelines, the Authority has additionally forfeited 25% of the builder’s deposit amounting to Rs 18.62 crore. Within the present monetary yr, the Authority has thus far cancelled the allotment of eight builder plots.
Officers mentioned a recent allotment of those plots can be performed. The variety of allottees and sub-allottees within the group housing and township classes is 21 within the Yamuna Expressway space.