+
 CAG draws Noida Authority’s attention for group housing project issues
Real Estate

CAG draws Noida Authority’s attention for group housing project issues

The Comptroller and Auditor General of India (CAG) has chastised Noida Authority for several issues relating to group housing projects it allocated between 2005-06 and 2017-18, claiming that 63% of the projects are either incomplete or partially completed.

The CAG accused the authority of failing to have a policy framework for property costing, having an excessive allowance of Floor Area Ratio (FAR) resulting in a lower reserve price fixation, miscategorization of sectors, and failing to include costs, among other things.

Noida allotted 67 group housing plots totalling 7.1 million sq m during the audit period, which were subdivided into 113 plots by the allottees. 71 of the 113 projects were either unfinished or only partially completed.

The CAG is the statutory auditor of government-owned corporations and performs supplementary audits on government companies in which the government owns at least 51% of the equity or subsidiaries of existing government companies.

The CAG is also the head of the Indian Audit and Accounts Department, which employs 43,576 people across the country and is run by officers of the Indian Audit and Accounts Service.

Noida, which was established under the Uttar Pradesh Industrial Area Development Act of 1976, has evolved into a planned, integrated, modern industrial city that is well connected to Delhi via a network of roads, national highways, and the ultra-modern DND flyover, providing inter-road connectivity to all parts of the country.

With its unique infrastructure providing numerous, unrivalled facilities, Noida offers a pollution free high standard of living and highly supportive industrial environment over an area of 20,316 hectares, with many sectors fully developed.

Image Source

The Comptroller and Auditor General of India (CAG) has chastised Noida Authority for several issues relating to group housing projects it allocated between 2005-06 and 2017-18, claiming that 63% of the projects are either incomplete or partially completed. The CAG accused the authority of failing to have a policy framework for property costing, having an excessive allowance of Floor Area Ratio (FAR) resulting in a lower reserve price fixation, miscategorization of sectors, and failing to include costs, among other things. Noida allotted 67 group housing plots totalling 7.1 million sq m during the audit period, which were subdivided into 113 plots by the allottees. 71 of the 113 projects were either unfinished or only partially completed. The CAG is the statutory auditor of government-owned corporations and performs supplementary audits on government companies in which the government owns at least 51% of the equity or subsidiaries of existing government companies. The CAG is also the head of the Indian Audit and Accounts Department, which employs 43,576 people across the country and is run by officers of the Indian Audit and Accounts Service. Noida, which was established under the Uttar Pradesh Industrial Area Development Act of 1976, has evolved into a planned, integrated, modern industrial city that is well connected to Delhi via a network of roads, national highways, and the ultra-modern DND flyover, providing inter-road connectivity to all parts of the country. With its unique infrastructure providing numerous, unrivalled facilities, Noida offers a pollution free high standard of living and highly supportive industrial environment over an area of 20,316 hectares, with many sectors fully developed. Image Source

Next Story
Infrastructure Urban

Naidu Seeks Rs 563 Crore For AP Sports Infrastructure

Andhra Pradesh Chief Minister N Chandrababu Naidu has sought Rs 563 crore from the Centre to boost sports infrastructure in the state, including Rs 538 crore for stadium development and Rs 25 crore to host the Khelo India Martial Arts Games 2025. Naidu made the request during a meeting with Union Youth Services and Sports Minister Mansukh Mandaviya in New Delhi on Wednesday.The CM urged early completion of Khelo India infrastructure projects in Tirupati, Rajahmundry, Kakinada, and Narasaraopeta, and called for an international-standard badminton training centre and a national aquatic sports hu..

Next Story
Infrastructure Transport

Tough Bidding Norms Slow NHAI Road Project Awards

Stringent bidding rules imposed by the Ministry of Road Transport & Highways (MoRTH) have led to a slowdown in project awards by the National Highways Authority of India (NHAI), despite a robust Rs 3.5 trillion pipeline. According to an HDFC Securities report, the shift to more cautious developer models now favours firms with strong balance sheets, as tighter qualification norms limit aggressive bidders.The revised norms mandate additional performance security, targeting the exclusion of players that previously submitted low bids—often 25 to 40 per cent below NHAI cost estimates—raisin..

Next Story
Infrastructure Transport

Mumbai Gets Coastal Nod for Next Promenade Phase

As Mumbai prepares to open two major sections of its expansive seafront promenade this week, the city’s civic authority has secured a key coastal clearance to advance further construction. The Maharashtra Coastal Zone Management Authority (MCZMA) has approved the commencement of work on the segment between Haji Ali and Baroda Palace, with tendering expected soon after project cost assessments.The promenade, stretching 7.5 km in length and 20 metres wide, is being designed as a flagship open space for walkers, joggers, and cyclists. Two critical stretches—2.75 km from Tata Garden to Haji Al..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?