NOIDA: Land lease of a private developer here was cancelled on Thursday over non-payment of over Rs 157 crore dues towards the Noida Authority, officials said.
The property in the Sports City of sector 98 was allotted to the Dwelling Star Developers, which was issued multiple recovery notices and reminders over the non-payment since November 2017, the officials said.
Noida Authority CEO Ritu Maheshwari had called for a review of major defaulters and entities which have dues pending towards it and accordingly initiate action against them, they said.
“During the ongoing review, it was found that Dwelling Star Developers is among the major defaulters. It was allotted a property in Sports City H Block of sector 98 in Noida but the developer’s dues have accumulated to Rs 157 crore over the years,” a Noida Authority official said.
“Multiple notices and reminders were issued in 2017 and 2019 after which it was decided today that the developers lease should be cancelled over the non-payment,” the official added.
When asked, the Noida Authority did not share the details on the area of land that was allotted to Dwelling Star Developers.
Source: Press Trust of India