Noida Authority mulls legal challenge over flat registration order
Real Estate

Noida Authority mulls legal challenge over flat registration order

The Noida Authority is considering challenging an order from the Allahabad High Court requiring the registration of flats in Lotus Boulevard Espacia and Lotus 300. The Authority has stated that the builders owe substantial dues, making the registrations impossible.

In separate rulings on 29 February, the HC instructed the Authority to register flats within a month and a half and initiated an ED investigation against the builders. Lokesh M, CEO of Noida Authority, expressed the intention to contest the order either by filing a review in the Allahabad HC or appealing to the Supreme Court. The Authority emphasised its obligation to recover dues for public development purposes.

An Authority's legal department officer noted that while the HC directed the ED to recover developers' dues, it remained silent on the course of action if the recovery failed.

Lotus Espacia, developed by Cloud 9 Projects, has 168 homebuyers awaiting registry. The HC instructed the Noida Authority to issue occupancy certificates, register flats within six weeks, and recover over Rs 8.7 billion in dues.

In the case of Lotus 300, the Authority was directed to issue occupancy certificates and execute registries within a month. The condominium, comprising 336 flats, has nearly 250 handed over, and the developers owe the Authority over Rs 16 billion.

The HC's order addressed the insolvency proceedings of Hacienda Project Private Limited (HPPL), the developer of Lotus 300. It specified a moratorium under the Insolvency and Bankruptcy Code, 2016, protecting HPPL from creditor proceedings but not its promoters.

Bhuwan Chaturvedi, AOA president of Lotus 300, expressed discontent over the delay in registry execution due to developer dues. The AOA has appealed to the Authority and state government, urging a resolution to favour homebuyers and plans to meet with the Chief Minister. ?

The Noida Authority is considering challenging an order from the Allahabad High Court requiring the registration of flats in Lotus Boulevard Espacia and Lotus 300. The Authority has stated that the builders owe substantial dues, making the registrations impossible. In separate rulings on 29 February, the HC instructed the Authority to register flats within a month and a half and initiated an ED investigation against the builders. Lokesh M, CEO of Noida Authority, expressed the intention to contest the order either by filing a review in the Allahabad HC or appealing to the Supreme Court. The Authority emphasised its obligation to recover dues for public development purposes. An Authority's legal department officer noted that while the HC directed the ED to recover developers' dues, it remained silent on the course of action if the recovery failed. Lotus Espacia, developed by Cloud 9 Projects, has 168 homebuyers awaiting registry. The HC instructed the Noida Authority to issue occupancy certificates, register flats within six weeks, and recover over Rs 8.7 billion in dues. In the case of Lotus 300, the Authority was directed to issue occupancy certificates and execute registries within a month. The condominium, comprising 336 flats, has nearly 250 handed over, and the developers owe the Authority over Rs 16 billion. The HC's order addressed the insolvency proceedings of Hacienda Project Private Limited (HPPL), the developer of Lotus 300. It specified a moratorium under the Insolvency and Bankruptcy Code, 2016, protecting HPPL from creditor proceedings but not its promoters. Bhuwan Chaturvedi, AOA president of Lotus 300, expressed discontent over the delay in registry execution due to developer dues. The AOA has appealed to the Authority and state government, urging a resolution to favour homebuyers and plans to meet with the Chief Minister. ?

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code