On Wednesday, Noida Authority has asked the realtor Unitech to clear its dues of Rs 2,743.29 crore within 15 days the land which was allocated to its group housing projects or face cancellation of allotments, said officials of the company.
In the statement of Noida Authority, it was mentioned that the land allocated for developing group housing societies in Noida’s Sector 113 and Sector 117 with dues of Rs 1,203.45 crore and Rs 1,539.84 crore was pending against them respectively. On 24 August and 30 August, Realtor Unitech was issued notices for clearing both two dues.
“Unitech also tried to have an agreement to sell 19,181.50 sq metre of land to M/s Sethi Residents and M/S GMA Developers, making them third-party, without seeking the authority’s permission. This was done in violation of the lease law,” the statement added.
Unitech’s explanation in both cases within 15 days besides payment of the pending dues, failing which it would initiate legal action against the builder after issuing recovery notice and cancelling the land allotment, said by the Noida Authority.
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