Noida units stuck at road to Greater Noida News, News for Residential Plots in Noida

NOIDA: The Greater Noida Authority cancelled allotments of around 1,200 plots on Tuesday on account of non-payment of pending dues by their owners. These include 1,173 residential plots in different sectors of the city. Authority officials informed that allotments of 25 industrial plots and 12 institutional plots have also been cancelled.

Officials informed that the authority has taken the extreme step because it is reeling under a huge financial crisis to the tune of over Rs 6,000 crore to a number of banks and financial institutions. Non-payment of dues for several terms by plot allottees has added to the financial burden of the authority.

The cancellations were effected after the allottees failed to pay up three consecutive pending dues against their respective plots despite repeated notices issued by the Greater Noida Authority. Officials said that more cancellations might be effected in the near future as notices are being issued to several other allottees who have goofed up on making timely payments.

All plots, which had been allotted through different schemes by the authority since the year 2009, have been cancelled. Cancellation letters, said officials, have been issued to all allottees losing their plots.

"The cancelled plots will be put up for fresh allotments through a leftover scheme. The details of the scheme are being worked out following which the plots would be put up for sale," said Manvendra Singh, DCEO, Greater Noida Authority.

Greater Noida Authority intends to raise revenues through the re-allotment of these plots so that debts and loans incurred by it can be cleared. A portion of the revenue so raised would also be used for paying compensation to farmers in lieu of their land in accordance with the Allahabad high court verdict of October 2011.

However, the authority also informed that it would give the first preference to original allottees of these plots to regain their allotments through a restoration process. Allottees would have to clear their pending dues together with penalties. "They will also be required to pay stiff restoration charges for regaining possession of their plots," added Singh.