Noida authority suspends allotment of 30 commercial properties
17 Oct 2013 7:17 AM IST
The Noida Authority has put the allotment of 30 commercial properties on hold. It has also suspended allotment of two plots that were meant for malls in Sectors 2 and 61. The authority took this decision due to defaulting on payments amounting to approximately Rs 200 crore.
As per official sources, the allottee will have to pay the defaulted amount along with restoration charges and in case they fail to pay within three months, the allotment will be cancelled permanently.
He further informed that sub-lease, mortgage and construction permission to the defaulters will also be banned.
The authority has also warned of cancelling allotments of 20 more commercial properties.
As per official sources, the allottee will have to pay the defaulted amount along with restoration charges and in case they fail to pay within three months, the allotment will be cancelled permanently.
He further informed that sub-lease, mortgage and construction permission to the defaulters will also be banned.
The authority has also warned of cancelling allotments of 20 more commercial properties.
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