Dues
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The Greater Noida authority will knock the door of Supreme Court against the Amrapali group’s outstanding dues of Rs. 3,700 crores. The authority took this action after the Supreme Court directed the authorities to register flats in the name of Amrapali’s homebuyers.

In its board meeting that took place earlier this week, the Greater Noida Authority decided to file a review petition for the recovery of outstanding land dues from the developer.

Narendra Bhooshan, CEO GNIDA said that the developer has approximately Rs. 3,700 crore outstanding dues to the authority and this fund is important to carry out future developmental projects. Hence, it is decided that a review petition will be filed in the Supreme Court to protect the Authority’s financial interests and future existence.

Earlier in July, the Supreme Court issued directives to the Noida and Greater Noida authorities to offer the possession of flats in a month’s time without worrying about the dues that the developer still owes them.

Anup Chandra Pandey, UP Chief Secretary précised over the meeting and addressed several other issues like a debt of Rs.6,400 crore that is faced by the Greater Noida Industrial Development Authority. Debt is a major concern for the authority a senior official said and thus GNIDA plans to launch two commercial schemes for auctioning shops, kiosks, markets, milk booths, petrol pumps and more.

This auction will be carried via online applications and the board also gave nod to the decisions such as the conversion of vacant IT plots into industrial areas.

While following the policy of Noida authority, GNIDA also took the decision convert the vacant IT plots lying in the industrial sectors and are non-pollutants will operate as industrial plots. This decision is taken as the IT sector has not been much operational here and the allottee has to pay 1 percent conversion fee.

For increasing revenue, the Greater Noida Industrial Development Authority proposed to segregate the city into four zones on the lines of Noida and a detailed study on the issue will be carried out soon, CEO, GNIDA informed.