Noida Authority Takes Action Against Real Estate Developers for Financial Defaults
The Noida Authority has cracked down on two real estate developers for failing to clear their financial dues, prompting legal actions and recovery measures.
Noida Authority Cracks Down on Defaulting Developers
The Noida Authority has taken stringent actions against two real estate developers in Noida for defaulting on their financial obligations. Antriksh Developers, the builder of Antriksh Golf View I in Sector 78, has reportedly failed to pay off dues amounting to ₹273 crores despite repeated notices and settlement opportunities under government guidelines.
The Noida Authority has issued a recovery certificate (RC) against the developer and instructed the Gautam Budh Nagar district administration to recover the unpaid amount as land revenue. The authority has also engaged with the Economic Offences Wing (EOW) to initiate further legal actions.