Greater Noida Authority takes back plots as owners fail to pay dues
Several plot owners in Greater Noida who failed to pay their pending dues seem to have lost their plots as the Greater Noida Industrial Development Authority (GNIDA) has cancelled their plot allotments.
When was the decision taken and why?
On Oct 1, the Authority has cancelled nearly 1,210 plots which include 1,173 residential plots in different sectors of the city apart from 25 industrial plots and 12 institutional plots as well.
Even after receiving many notices one after the other by the Greater Noida Authority, some of the plot owners failed to pay around three consecutive pending dues against their respective plots. Following this, the authority decided to cancel the plot allotments of those 1,210 plots.
GNIDA faces cash crunch
GNIDA officials said that since the authority has currently been witnessing a huge financial crisis, it has taken this extreme step. The Authority is facing a cash crunch scenario to the tune of more than Rs 6,000 crore, to a number of banks and financial institutions. Adding to it, the plot allottees have increased the financial burden of the authority with non-payment of dues for many terms.
Cancellation letters being issued to plot owners
The authority had allotted a number of plots under various schemes since 2009, and they have all been canceled. The officials said that cancellation letters have been issued to all plot owners who have lost their plots allotted earlier.
Some officials of the GNIDA said that, there are chances that allotment of many other plots would be cancelled in the near future, as the authority has been serving notices to many other allottees who have missed to make payments of their dues.
What will happen to the cancelled plots?
A leftover scheme will be arranged by the Greater Noida Development Authority, in which, all the cancelled plots will be put up for a fresh round of allotment scheme. Manvendra Singh, DCEO, Greater Noida Authority, said that the Authority is still finalising the details of the new scheme to be implemented. Once the plan is ready, the plots cancelled so far will be put up for sale again.
With the re-allotment of the plots, the GNIDA is looking to increase the fund flow. It is looking to clear its debts and loans with the revenue collected by this method. Some part of this revenue will also be used for paying to farmers as compensation based on the Allahabad high court verdict of October 2011 which demands to pay increased compensation to the farmers.
According to the GNIDA, a restoration process will be held through which the plots can be regained and the original plot allottees would be given the top priority in this process. However, at first, the allottees will have to pay off their outstanding due amount along with the penalties charged. Apart from this, the allottees will also have to pay stiff restoration charges for regaining possession of their plots.
