GNIDA cancels allotment of land to Unitech group

The Greater Noida authority on Friday said that it has canceled the allotment of a 100-acre plot to construction firm Unitech Group in Greater Noida’s Sector MU, according to a published media report.

Authority officials said they had to cancel the allotment as the realty firm failed to pay Rs 1,023 crore land cost dues.

“We have decided to cancel the allotment as Unitech has failed to pay up even after repeated reminders. The authority had allotted this land to the group in 2006. The builder was yet to construct any building on this land,” said a senior officer of the authority.

According to the report the GNIDA allots residential, industrial, institutional and mixed land on a leasehold basis. It means that the leaseholder becomes the landowner for 99 years, but the control of land remains with the authority.

The authority has a right to cancel the allotment if the leaseholder violates any norm. “As per our policy, the authority had in 2006 allotted land to Unitech after the firm paid 10 percent of the total land cost. It was supposed to pay the remaining 90 percent of the cost in monthly installments.

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Unitech Group had not paid monthly installments for the past more than six months,” said another Greater Noida authority official.

Unitech Group, however, said that they are not aware of any such decision by the authority.

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