Advertisement
The Noida Authority has announced plans to publish the names of property defaulters across various sectors including industry, group housing, commercial, and institutional on its official website. This initiative aims to enhance transparency and expedite the recovery of long-pending dues. The move follows earlier actions, such as the publication of a defaulter list in June 2023, which was not updated thereafter. To ensure consistency, the Authority has now mandated regular updates and the issuance of recovery certificates against significant defaulters.
The Noida Authority has decided to publish the names of property defaulters on its official website to promote transparency and accelerate the recovery of outstanding dues. This move encompasses defaulters from various sectors, including industry, group housing, commercial, and institutional, and aims to hold them accountable for their financial obligations. Advertisement
Last week, Noida CEO Lokesh M directed officials to initiate this action during a review meeting attended by senior officials and department heads. The decision follows a similar exercise conducted in June 2023, where details of 115 group housing projects were uploaded. However, that list was not updated thereafter, leading to the current mandate for regular updates to ensure ongoing transparency.
The publication of these lists is expected to serve multiple purposes: providing allottees and the public with the ability to track recovery actions, reducing the possibility of fraudulent property transactions, and exerting pressure on chronic defaulters to clear their dues. Additionally, the CEO has instructed that recovery certificates be issued promptly against large and persistent defaulters to expedite financial recovery.
As of now, recovery proceedings have been initiated against three group housing projects for non-payment of dues exceeding INR 350 crore. The Authority has written to the Gautam Buddh Nagar district collector to recover these amounts as arrears of land revenue. Notably, Mahagun Real Estate Pvt Ltd and Prateek Realtors Pvt Ltd are among the developers facing action for failing to clear outstanding payments despite repeated notices. Both developers had previously benefited from a state government order dated December 21, 2023, which allowed for the recalculation of dues with a two-year COVID-19 'zero period' relief and required payment of 25% of the outstanding amount to avail the benefits. However, they did not comply with the terms.
The Noida Authority's decision to publish defaulter names online aligns with its ongoing efforts to enhance accountability and streamline the recovery process. By making this information publicly accessible, the Authority aims to foster a more transparent real estate environment and ensure that developers fulfill their financial commitments.
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
