As NCR authorities crack down, the seizure of properties looms for non-compliant builders
amnesty scheme to clear their dues to the authorities.
Following the recommendations of the Amitabh Kant committee, the development authorities in the National Capital Region had given developers until August 31 to clear 25% of their outstanding dues and make payments towards additional farmer compensation, with certain benefits offered.
Recently, the Noida authority sealed the unsold land of the Omaxe Group, as the company had outstanding dues of ₹457 crore.
As part of the scheme, 22 developers in Noida have agreed to pay 25% of the total dues amounting to ₹275 crore to the authority, paving the way for the registry of flats for about 2,500 homebuyers.
«The Greater Noida authority has issued a warning to builders to complete the registration process. In addition, land allotted to builders who have not deposited 25% of the dues as per the Amitabh Kant committee report will be cancelled, and their cases will be referred to the Economic Offences Wing,» said a Greater Noida authority official, who did not wish to be identified.
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