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Over 80 homebuyers of the Lotus Arena project in Noida's Sector 79 staged a protest over decade-long delays and stalled construction. Launched in 2014, the project faced insolvency in 2020 after promoters allegedly diverted INR 387 crore, with Purvanchal Projects appointed as the new developer under a 2023 resolution plan. However, the Noida Authority has refused to revalidate the layout plan, citing CAG objections over Sports City allotments, halting progress. Buyers said they continue to suffer rent and EMI burdens, with some reporting personal tragedies during the delay. The association has urged state intervention, warning of further protests and legal action.
Over eighty purchasers of the Lotus Arena project in Sector 79, Noida, held a demonstration to highlight the prolonged delay in possession and the lack of progress on construction. The project, launched in 2014, initially had an approved layout, but buyers alleged that the original promoters diverted nearly INR 387 crore from collected funds. This led to insolvency proceedings in 2020, and a new resolution plan was subsequently approved in 2023, appointing Purvanchal Projects as the new developer. Advertisement
Despite this resolution, the Noida Authority has not revalidated the layout plan, citing issues raised in a Comptroller and Auditor General report related to Sports City land allotments. Homebuyers maintained that this refusal has prevented the resumption of work and has further worsened their plight.
Residents pointed out that they have now been waiting for their homes for over a decade. Many have been forced to pay rent and EMIs simultaneously, with some families reporting personal tragedies, including job losses and bereavements, during the extended delay.
The Lotus Arena Buyers Association has appealed to the state government to direct the Noida Authority to approve the layout and allow construction to continue under the existing resolution. They also mentioned that further protests and legal steps would be pursued if no action is taken.
While the legal framework has provided a resolution and a new developer is in place, administrative hurdles have left construction at a standstill. For many families, the financial and emotional toll has been overwhelming. Unless decisive steps are taken by the authorities, the deadlock will continue to deepen, leaving buyers without clarity or relief.
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