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GNIDA issues RCs worth over Rs 23 crore against two builders

 Recovery certificates totaling Rs 23.39 crore were issued against two real estate developers by the Greater Noida Industrial Development Authority (GNIDA) on Wednesday over non-payment of dues since a decade, officials said. GNIDA CEO Ritu Maheshwari said strict action will be taken against those who have failed to clear the dues.

“Any allottee of the land will not be spared if they do not complete the project for which they got the land or do not clear their dues towards the authority. The action will include issuing of recovery certificates (RCs) to cancellation of land allotments,” Maheshwari said, according to an official statement.

Additional CEO Aditi Singh said RCs worth Rs 23.39 crore were issued by the Greater Noida Industrial Development Authority (GNIDA) against developers Assotech Realty and AVJ Homes.

“In 2005, Assotech Realty was allotted about 29,623 square metres plot in Sector Zeta One (number GH-10). The builder has completed the project, but has not yet deposited the dues of GNIDA in full. The builder has not made payments since 2012 and owes around Rs 13.39 crore as premium and additional compensation,” Singh said.

“The second RC has been issued against AVJ Developers. AVJ Developers was also allotted a plot of about 4,473 square metres in Sector Beta II (No 90) in 2009. About Rs 10 crore is outstanding towards the premium on this plot. The builder has not made payments since 2013,” the ACEO said.

She said the GNIDA had to take this action for non-payment of dues despite several notices being issued.

Both the RCs have been sent to the Collector for recovery of dues, she added.


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