Yamuna Authority cancels land allotment of two builders for not developing any project!
Saurabh Kumar
Greater Noida: Taking strict action against two builders Yamuna Expressway Industrial Developmental Authority (YEIDA) has dismissed their plot allotments. Lotus Buildmart and Swikrit Infracon is the builder against whom action is taken by the Authority.
Both the builders have been allotted plots in 2011 under sector 22 D but since then they didn’t developed any project on the site. As per the information, for now, they don’t even have applied for the approval of the map. Apart from this Lotus Buildmart owns Rs 7 crores and Swikrit Infracon owns Rs 16 crores of Yamuna Authority as dues amount.
As per the bylaws of the authority builder have to start construction on the allotted plot within a certain time period, if the builder fails in doing so then the authority has power to cancel the allotment.
