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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.
The company will have to clear around Rs 175 crore in land dues to the development authorities, Rs 20 crore in vendors' dues, and pay Rs 65 crore to financial institutions.
The Noida and Greater Noida authorities have been directed by the state’s industrial development commissioner (IDC) to draw up a comprehensive report
Greater Noida and Noida authority boards to meet on August 12 and 13, that of Yamuna Expressway later this month
In its several recommendations categorised under seven separate heads, the panel also recommended banks and financial institutions be permitted to finance fresh housing loans for new buyers purchasing unsold inventory in such stalled projects. This would ensure the flow of funds to stalled projects from the inventory of unsold flats.