Now, settle Greater Noida development body's land dues till March 2020

The Greater Noida Industrial Development Authority (GNIDA), which has been able to recover only half of its dues from those allotted residential land, has extended a one-time settlement scheme till March 31. The dues pertain to additional compensation of 64.7% for the farmers, penalty for delay in executing land deeds or fines on unpaid premiums. Over the years, a number of people allocated residential plots in the city has failed to settle dues under the three heads. During a review in June last year, it was found that such allottees had defaulted on payments amounting to about Rs 330 crore in total. Schemes to settle the dues were launched in September last year and discounts ranging between 30% and 50% were offered to those who were willing to pay a lump sum amount. However, till January 20 this year, the Greater Noida Authority was able to recover only Rs 172 crore, which prompted them to take a decision to extend the scheme. Assistant general manager (property) KK Yadav said 1,950 people had initially shown interest in the settlement scheme. However, only 1,250 people came forward to settle the dues. “We are hopeful that 500 to 600 individuals will approach us in February and March. A drive against the defaulters would be initiated in the next fiscal and their allotmentswould be cancelled accordingly,” he added. Over the years, the GNIDA has floated 16 residential schemes. While the allottees have agreed to settle fines imposed on them for not paying premium or causing inordinate delay in executing the deeds, they have shied away from bearing the amount for additional compensation to farmers. GNIDA has been asking for an additional amount of Rs 1,287 per sqmt to compensate farmers in keeping with a court directive. The authority also sought interest on the amount due from 2013 onwards to pay off the farmers. But following a protest, officials decided to bring down the simple interest rate from 11% to 9.5%. “The old sectors do not fall under the purview of the court’s directives. However, the officials have been demanding money from us too. So, we did not respond to the notice seeking money for 64.7% additional compensation to the farmers. The issue has not been resolved yet,” said a resident of Gama 1.


A-86 Sector beta-1 Greater Noida , G.B. Nagar uttar pradesh  |   +91-9311142970

  • Instagram
  • Facebook - Black Circle
  • Twitter - Black Circle