Greater Noida Authority takes action against two builders for not clearing dues

The Greater Noida Industrial Development Authority (GNIDA) has taken action against real estate developers and educational institutions for non-payment of dues and non-completion of projects.

The GNIDA issued Recovery Certificates (RCs) amounting to Rs 23.39 crore against two real estate developers, Assotech Realty and AVJ Homes, for not clearing their dues for over a decade despite repeated reminders. The RCs have been sent to the Collector for the recovery of dues.

Assotech Realty was allotted a 29,623 square meter plot in Sector Zeta One in 2005 and has not made payments since 2012, owing around Rs 13.39 crore as premium and additional compensation.

The builder has completed the project but has not deposited the dues of GNIDA in full. The second RC was issued against AVJ Developers, who were given a plot of about 4473 square meters in Sector Beta II in 2009. The developer owes around Rs 10 crore as outstanding dues towards the premium on the plot and has not paid dues since 2013.

The GNIDA also cancelled the allotment of plots to three educational institutions, including Greater Noida Hostel and Infrastructure, Pelican Friends Shakti Samiti, and AP Educational Services, for not completing the project and non-payment of dues.

Greater Noida Hostel and Infrastructure were allotted a 4080 square meter plot in 2011 in Knowledge Park for making a corporate office. The allottee has to pay a premium of Rs 4 crore, but between 2012 and 2021, it did not pay 18 instalments, and the dues, including the penalty, stand at Rs 21.43 crore.

The allottee did not make the payment despite reminder notices hence the plot allotment was cancelled,” the statement said.

It added that in 2011 Pelican Friends Shakti Samiti was allotted a 1000 square metre plot for constructing a nursery school in sector 2, but the allottee did not pay dues between 2011 and 2023, so the allotment was cancelled.

Similarly, the plot allotment of AP Education Services in sector Phi 3 was also cancelled because of non-payment of dues of Rs 1.80 crore and also due to not completing the project, the Authority said in the statement.