Greater Noida Authority cancells allotments of plots of Parsvnath Developers

Mumbai: Greater Noida Authority has cancelled allotments of plots of Parsvnath Developers Ltd. The two housing plots are in Sector Pi. The outstanding amount for the two plots are Rs 281 crore. 

The plots have been cancelled for “non-payment”. The Greater Noida Authorityalso noted that projects on these two plots were scheduled to be completed by 2013 but are still incomplete.

The first plot of measuring 25 acres was allotted in 2006. Parsvnath had paid Rs 7.14 crore out of Rs 33.54 crore. Greater Noida Authority has sent defaulter notices in 2011, 2012, 2013, 2019 and 2020. The project has now crossed the 15 year maximum time limit.

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