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Authorities Yet To Pay For Gram Panchayat Land They Sold To Private Builders In Noida

Authorities Yet To Pay For Gram Panchayat Land They Sold To Private Builders In Noida

Authorities Yet To Pay For Gram Panchayat Land They Sold To Private Builders In Noida
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It’s no news for those who have been tracking Noida real estate that builders owe the development authorities of the region crores of rupees. They were allotted land across the city for project development for which they have yet to pay the money. Despite the best of its efforts and despite launching the strictest of the moves, the authorities of the region — the Noida authority, the Greater Noida Authority and the Yamuna Expressway Industrial Development Authority (Yeida) — have not been able to recover their dues from slum-hit builders.

Official data show the Noida Authority has to recover Rs 1,100 crore from about 94 real estate developers. If we include dues from Noida Extension and Greater Noida developers, too, this amount reaches to Rs 20,000 crore.

On their part, the three authorities have also not paid the compensation for the gram panchayat land they acquired to sell to private developers, media reports say. Gram panchayat land is meant to be developed for the benefit of villagers. Instead, the three authorities sold this land for private use.

While the Greater Noida Authority owes the Gautam Budh Nagar District Administration Rs 534 crore, the Noida Authority and the Yeida owe it Rs 65 crore and Rs 39 crore, respectively.

At this juncture it is important to note that several development projects in the city are stuck owing to widespread protests against compensation issues. The Uttar Pradesh government, for instance, is doing all it takes to meet the deadline set for developing the Jewar Airport in Greater Noida. However, farmers are of the view that the prices offered by the authorities are much less than the market rate of their land. A conflict is set to emerge over the issue, derailing the state’s plan to build the national capital region’s second airport by 2023.

Also read: Noida Authority Yet To Make List Of Defaulting Builders As 80,000 Buyers Wait For Homes

Last Updated: Mon May 28 2018

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