Noida Authority sealed & ban 100 unsold flats in Noida due to the left dues.
The Noida Authority has sealed offices and unsold flats in three projects over dues amounting to Rs 1,000 crore. The action was taken on Thursday, May 4, 2023.
The projects affected are:
- Gardenia Glory in Sector 46
- Logix Blossom County in Sector 137
- Gardenia Gateway India Limited in Sector 75
The builders of these projects owe the Noida Authority a total of Rs 1,086 crore. This includes dues for land development, external development charges, and other fees.
The Noida Authority has been taking action against defaulter builders for some time now. In March 2023, the Authority sealed over 100 unsold flats of three builders for non-payment of dues worth Rs 103 crore.
The sealing of these flats and offices is a significant step by the Noida Authority to ensure that builders comply with their obligations. It is also a warning to other builders who may be thinking of defaulting on their dues.
If you are considering buying a flats in Noida, it is important to check the builder's track record before making a purchase. You should also make sure that the builder has paid all of their dues to the Noida Authority.
Here are some tips for checking a builder's track record:
- Check the builder's website or social media pages for reviews from previous buyers.
- Ask your friends or family if they know anyone who has bought a flat from the builder.
- Search for the builder's name on the Noida Authority website to see if there are any outstanding dues.
By taking these steps, you can help to protect yourself from buying a flat from a defaulter builder.