Noida Authority to seek EOW audit of builders avoiding rehab package

06 Sep 2024 CW Team

The Noida Authority plans to approach the Economic Offences Wing (EOW) to investigate developers who have not availed the Uttar Pradesh government's rehabilitation package for stalled residential projects. Of the 57 defaulting projects, 22 have accepted the package, which provides a two-year zero-period relief from April 2020 to March 2022, exempting them from interest and penalties due to Covid-related lockdowns.

However, 29 developers, collectively owing Rs 69 billion in land dues and involving over 12,700 flats, have yet to take up the offer. These developers have claimed there are no unsold inventories, raising concerns about where the funds collected from homebuyers have gone. Lokesh M, CEO, Noida Authority, stated that the EOW will be asked to conduct a financial audit to trace the diversion of these funds, and an FIR may be filed if necessary.

The decision to involve the EOW follows Chief Minister Yogi Adityanath?s recent directive for authorities to take punitive measures, such as sealing unallocated flats and reclaiming unconstructed areas from non-compliant developers. The Authority has also clarified that developers who paid 25% of their recalculated dues but have not completed flat registrations will not receive further relief.

To date, 22 developers have paid Rs 2.75 billion as part of their recalculated dues, allowing 2,558 homebuyers to register their flats, with 1,298 registrations completed. The total dues from the 57 defaulting projects were initially Rs 82.73 billion, but a rebate of Rs 18.66 billion reduced them to Rs 63.73 billion. The 29 non-compliant developers, however, remain ineligible for this relief, leaving their dues at Rs 69 billion.

(ET)

Infrastructure Transport

15 Oct 2025

BMC Gets CRZ Nod For Rs 40 Million Gorai Bridge Rebuild

The Brihanmumbai Municipal Corporation (BMC) has secured Coastal Regulation Zone (CRZ) clearance for the reconstruction of the Poisar River bridge in Gorai, located in Mumbai’s western suburbs. However, the proposed demolition of the existing 100-metre bridge has sparked opposition from local residents, who claim it serves as the only direct access route between the Lower and Upper Koliwada areas. The three-decade-old bridge, situated within the CRZ buffer zone, was recently declared structurally unsafe following a civic audit. The BMC has sanctioned its reconstruction at an estimated cost ..

NHAI Completes Rs 15.9 Billion Four-Lane Stretch On ECR

The National Highways Authority of India (NHAI) has completed the four-laning of the 38 km Puducherry–Poondiyankuppam stretch, ending near Cuddalore, in a development that will cut travel time by up to two hours, according to a report by The New Indian Express. The upgraded section, built at a cost of Rs 15.9 billion under the Bharatmala Pariyojana Phase I, marks a major milestone in the ongoing East Coast Road (ECR) widening programme. The project promises a smoother, faster drive for motorists travelling towards Cuddalore, Chidambaram, Sirkazhi, and Nagapattinam. With this completion, 22..

Encroachments Delay Rs 1 Billion Ghatkopar Bridge Project

The construction of a new cable-stayed rail overbridge at Ghatkopar and the widening of the Andheri–Ghatkopar Link Road (AGLR) have been delayed due to the presence of nearly 250 encroached structures on both sides of the road. In response, Municipal Commissioner Bhushan Gagrani has directed officials to carry out a structural audit of the existing bridge over the railway line and enforce temporary restrictions on heavy vehicles to ensure public safety. The bridge, which starts at the Golibar Road junction near LBS Marg and extends up to the Eastern Express Highway (EEH), serves as a critic..