Renowned developers of Noida receive payment notices
The Noida authority has issued notices to 44 builders over due in payments of nearly Rs 1410 crore.
The Authority had allotted land to those builders on lease for constructing group housing societies. In this regard it had sent several reminders to the builders but to which they did not respond positively. Following this, the Authority has issued notices setting a deadline of June 30 to deposit the dues. If any builder fails to follow, then the Authority may cancel the deed.
The cancellation of lease deeds or work getting stopped may result in delay of project completion for which home-buyers will not be able to get their homes in time.
The developers who have received notices include renowned names such as Unitech, Omaxe Buildwell, Ajnara India, Imperial Housing Venture, Gardenia AIMS, etc.
To read more real estate news:
Noida developers warned of illegal constructions
Buyers of property in Noida extension are protesting against delay
Source: The Times of India
Authority, delay of project completion, Developers, due in payments, Gardenia AIMS, Group Housing Societies, Noida, Notices, Omaxe Buildwell, Unitech
