The Noida Authority has uploaded a list naming 91 housing project groups that have allegedly not cleared dues worth ₹9,993 crore.
The list, which was put up on the website following directions from Noida Authority CEO Amit Mohan Prasad, includes big names like Supertech, Omaxe, Logix, 3C, Antriksh, Paras, Prateek, IVRCL, and Amrapali.
As per the list, Unitech is the biggest defaulter with dues worth nearly ₹5,400 crore, followed by Max Gardenia and Amrapali with dues close to ₹1,100 crore and ₹700 crore, respectively.
The authority has imposed penalty interest on the developers.
The move, which comes less than two months after Mr. Prasad took over, has come as relief for home buyers whose pleas in this regard had allegedly gone ignored so far.
The Noida Authority issues completion certificates to developers only after they clear all dues.
However, many developers cheated the authority by allowing home buyers to live in projects that hadn’t been issued certificates.
These projects — in Noida and Greater Noida — often face issues like non-functional lifts, encroachments in emergency areas, etc.
“Home buyers had been demanding that a list of defaulters be put up on the website,” said Mr. Prasad.
“Past governments have avoided sharing the defaulters’ list. There was a nexus between the authority and developers, which is why our voices were suppressed. We want to convey our gratitude to the new CEO for addressing the issue,” said Amit Gupta, a home buyer.
Taking advantage
It was between 2007 and 2012, when the BSP was in power, that a scheme was launched for developers.
Under this, the developers were supposed to pay only 10% of the total cost of the allotted land. The remaining 90% was to be paid to the authority in instalments. However, many developers, after raising funds from home buyers, bought other land parcels. Later, the real estate market crashed, causing the developers to default on the payment of instalments.
