Years after land allotment, 7 builders yet to start construction; GNIDA to initiate stringent action

Greater Noida Industrial Development Authority (GNIDA) has clamped down on seven builders of Greater Noida West. These builders failed to start with the construction work of their project even after seven years of land allocation.

 Final show cause notice has been sent to all the seven builders with fifteen days time limit to reply and convince the authority with a valid reason for the delay in construction of flats. Else, their land allotment will be cancelled, stated GNIDA. The authority will expropriate the money deposited by builders to them. "Over five thousand investors are likely to get affected by this," said a senior official of GNIDA.

 The Seven builders include Enchant Infrastructure Private Limited, S.A.G Realtech, Lotus SRS, Kinetic Buildtech, Shubhkamna Builder, Brays home and Noble builder. The authority had allotted the land located in sector 10 and 12 of Greater Noida West to them in 2010. Builders were supposed to complete the project and hand over the possession of flats within five years.

 Till now, these builders have just constructed the boundary wall of the plot. Post seven years of allotment, they have not yet taken the approval for the structure of the flats from the authority but bookings of flats were started soon after allotment. Even the builders have not paid their dues to the authority.

 "Authority is planning to take serious actions against these seven builders as they have failed to hand over the possession of flats within the mentioned time limit. Seven builders were found in deep trouble as they failed to pay their last many instalments to the authority. Several notices were sent to them in the past which were left unanswered. A team was sent to their respective sites and found that they have not even begun with the construction work" said Deepak Agarwal, Chief Executive Officer, Greater Noida Industrial Development Authority. 

"We have prepared the list of all such builders who have failed to hand over the possession of flats within the mentioned time limit. Strict actions will be taken against all of them and their land will be expropriated" added Agarwal.

 There are around 232 builder's project in Greater Noida West from which 94 have been declared in deep trouble by the authority as they failed to pay more than four instalments to the authority. GNIDA has already cancelled the land allotment of four builders in the past including names of some famous builders such as Unitech and Value Infra Build Private Limited.