Noida Authority Urges Uttar Pradesh Govt to Reconsider Decision Granting Relief to Builder
In response to revision applications from allottees in the commercial, institutional, and industrial sectors, Noida Authority has urged the Uttar Pradesh government to reconsider its decisions. The proposal is made in light of the approximately 20 unfavorable government orders that have cost the Authority money.
The World Trade Tower in Sector 16 was built by ET Infra Developers Pvt Ltd, and the UP government recently decided to provide financial relief to them, which resulted in a loss of Rs 63 crore. The relief was given to make up for the time lost between 2013 and 2015 when the National Green Tribunal (NGT) prohibited building within 10 km of the Okhla Bird Sanctuary.
The developer built the towers prior to the imposition of the NGT orders, but was unable to obtain an occupancy certificate due to a lack of documentation. As a result, the Authority has written to the government, demanding that it reevaluate the decision to provide financial assistance to the developer. The Authority contended that since the NGT ban had no bearing on the project, the company was not qualified for the waiver.
The government recently overruled decisions made by the Authority to extend the development term for industrial plots from 2022 to 2024 in certain situations, which increased the losses. According to officials, the Authority has already lost Rs 19 crore in institutional sector revenue alone, since the UP government provided assistance to IT plot allottees during the recovery process.
