Land Lease Of Another Developer In Delhi NCR Cancelled
New Delhi: In yet another case of default by a real estate firm in Delhi NCR, the land lease of Dwelling Star Developers has been cancelled by Noida Authorities because of non-payment of Rs 157 crore dues, according to a news report by PTI.
The land parcel was allotted to the firm in Sports City of Sector 98 of Noida. The company was given many recovery notices since 2017 for the dues but it did not respond to the notices.
The Noida authority has been conducting a review of the defaulting real estate firms for the money that they owe to the authority and several corrective steps have been taken in the recent past by the authority including cancelling the land leases and other legal action.
Star Dwelling Developers is the latest to loose land lease for non-payment of the dues. There have been many other such cases in Noida n the recent past.