NOIDA: Days after it issued ‘last notices’ to realtors who’re but to clear their land dues, regardless of govt saying a coverage final Dec that gave builders an opportunity to reschedule dues, Noida Authority has began placing up notices on premises of housing societies constructed by these builders, warning that unsold models will probably be hooked up if dues are usually not cleared by this month.

Noida Authority CEO Lokesh M stated there are over 20 group housing tasks whose builders have both not cleared their dues or confirmed curiosity in UP’s aid package deal. “A few of the builders had initially consented to the aid package deal and the recalculated dues however are but to pay up the primary tranche of 25%,” he added.

Builders giving consent to the rehabilitation package deal, launched in Dec 2023, have been to pay 25% of the revised dues inside 60 days and the remaining 75% in instalments over one to 3 years, with the government waiving off curiosity and penalties incurred through the pandemic (April 1, 2020 to March 31, 2022).

Since Tuesday, notices have been put up in additional than 10 condominiums, together with Ajnara Daffodils in Sector 137, Antriksh Golf View 2 in Sector 78, Grand Omaxe in Sector 93B and Prateek Wisteria in Sector 77. Whereas the notices are aimed toward builders, they led to nervousness amongst owners in regards to the affect of such a transfer on resale of flats due to cancellation of allotment and lease paperwork that the discover warns of.

Dinesh Singh, the AOA president of Properties 121, stated on Wednesday, “The Authority’s actions are nothing in need of a farce. Our society has 1,732 flats, all of that are offered. The registry for 125 flats is pending because the builder has not cleared Rs 20 crore dues. Regardless of being absolutely conscious of this, the Authority has nonetheless put a discover outdoors our society. It appears they intend to harass residents or merely create an phantasm of motion. The Authority ought to problem a restoration certificates to get well its dues as an alternative.”

Informing homebuyers in regards to the complete dues of a venture, the discover says, “The developer has a legal responsibility pending in opposition to the Authority, which has not been deposited but. As a result of this, the Authority has put a keep on all proceedings/permissions associated to the venture, and the Authority can take motion to cancel the allotment and lease doc of the partially/unsold a part of the venture at any time. Together with this, motion will also be taken to connect the unallocated flats of the stated venture by the Authority.”

Of the 57 defaulter tasks within the metropolis, builders of 30 have up to now paid the preliminary 25% of their complete dues, which cumulatively quantities to over Rs 250 crore. 5 builders had no dues left after they received a two-year ‘zero’ interval waiver. Builders of 12 group housing tasks, who cumulatively owe Noida Rs 1,697 crore, haven’t accepted govt’s package deal up to now.

On Might 7, they have been issued a ‘last’ restoration discover which stated that Noida Authority could cancel land allotted to them, particularly the place flats or plots haven’t been offered but, or connect unsold models the place building was partially full if the dues weren’t cleared.

Earlier this month, UP govt had additionally directed Noida Authority to ship letters to the builders, who had accepted the aid packages, reminding them in regards to the 60-day deadline for depositing 25% of internet dues.