9 developers face Yeida heat for defaulting on payments

GREATER NOIDA: The Yamuna Expressway Industrial Development Authority (Yeida) on Thursday cancelled the allotment of nine group housing projects after developers failed to pay financial dues despite repeated reminders.

Yeida needs to recover ₹27.24 crore dues from these nine plot owners. According to the rules, the developers were supposed to complete the projects within a maximum period of seven years.

“The developers are yet to get the building map approved. They did not carry out any development works at the site. We have cancelled the allotments because the owners of the group housing plots were not paying the dues despite the repeated reminders issued to them in the past. We will continue to cancel more allotments if they fail to fulfil the terms and conditions,” said Arun Vir Singh, chief executive officer at Yeida.

The Yeida has planned to allot these plots to some other developers after following the procedures of competitive bidding.

UG Infrastructure Private Limited’s project (which bought an area of 10,103 square metres) owed ₹1.18 crore, Trivelli Private Limited (which bought an area of 11,610 square metres) owed ₹1.36 crore, Sunwhite Infratech (which bought an area of 11,253 square metres) owed of ₹1.32 crore, Pratham Realventure (which bought an area of 11,610 square metres) owed₹1.36 crore, Growth Infradevelopers (which bought an area of 18,440 square metres) owed ₹2.16 crore, Ajay Realcon, which bought two plots measuring 26,310 square metres and 18,130 square metres, owed ₹3.11 crore and ₹2.14 crore for each, Starcity Infradevelopers (which bought an area of 28,783 square metres) owed ₹3.4 crore and Omnis Developers (which bought an area of 82,386 square metres owed ₹11.21 crore.

Omnis’ project is located in Sector 22A and rest of the eight projects are located in Sector 22D along the Yamuna Expressway.

The promoters were not available for comments.