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According to official estimates, real estate developers collectively owe around Rs 44,700 crore to the development authorities in Gautam Budh Nagar. They owe almost Rs 26,000 crore to the Noida Authority.
According to a rough estimate, there are around 2.4 lakh stressed housing units in the Noida and Greater Noida region, of which around 1.2 lakh flats are yet to be delivered. Possession has been given for the remaining 1.2 lakh units, but registries are still pending.
Banks that have financed Jaiprakash Associates Ltd (JAL) have filed affidavits in support of the company's petition to set aside a land cancellation o
The CEO also directed officials that information regarding the dues against each developer should be published in newspapers and that boards should be installed at the project site mentioning their liability towards the authority.
A chieftain of Peoples Democratic Party (PDP), Dr. Tokunbo Pearse, who is a former governorship candidate and convener of the Reset Lagos PDP, speaks on