The group was founded in 2004 by visionary and flamboyant entrepreneur trio Mr. Gaurav Gupta, Mr. Shaleen Singh and Mr. Sunil Kumar with their exemplary expertise in Marketing & Finance. The company has its headquarters in Delhi (NCR).
The Noida, Gr. Noida, Ghaziabd is the part of National Capital Region and a central planning region centred upon the National Capital Territory in India. It encompasses the entire NCT of Delhi and several districts surrounding it from the state of Uttar Pradesh.
posted on November 21, 2019
NOIDA: Stepping up pressure on 62 institutions that have not paid up the Rs 600 crore they owe the New Okhla Industrial Development Authority for plots they have been leased,
the Noida Authority has set a November 22 deadline to recover all dues. After that, it will take legal action against defaulters.
In 2008, the Authority had launched a scheme for institutional plots which could be leased for a period of 90 years for office use. The plots, between 1,000
square metre and 20,000 square metre, were leased at a minimum rate of Rs 7,800 per square metre.
The allottees were asked to pay 30% of the premium upfront. The remaining amount was to be paid in 16 instalments over eight years, or two each year. The Noida Authority
was also going to charge an annual lease rent, which would be 2.5% of the total premium. This rent was revised from time to time to match the prevailing circle rate.
Over the years, 62 institutions have failed to pay up the money they owed. Since June, the Noida Authority has cracked down on the defaulters. Of the total dues, Rs 7,000
crore, the institutional department accounts for Rs 600 crore.
“Besides private institutions, the list of defaulters includes banks, government department buildings and post offices. They have been given time till November 22 to make use
of the one-time settlement policy,” said Indu Prakash Singh, officer on special duty, Noida Authority.
The policy was introduced in June this year, a month after which the Authority started sending notices to defaulters. “Most government departments have not paid increased
rent for several months,” a source said.The source added that the Authority has started consultations with the legal department to cancel leases of half a dozen institutional
defaulters. Some are yet to settle the dues while others are facing action for not paying the increased lease rent.