The Uttar Pradesh government has sought a report from the Noida authority about two commercial plot allotments that were cancelled due to procedural violations.
Real EstateNoida AuthorityUttar Pradesh GovernmentCommercial Plot AllotmentsE BiddingCag SuggestionsReal EstateMay 27, 2024
The matter pertains to a 13-acre land parcel in Sector 94 and a three-acre land parcel in Sector 72 along the Aqua Line Metro
The plots were allotted in February 2023 to two real estate agencies which are subsidiaries of a major real estate developer
The plots were cancelled due to procedural violations during the allotment process
The state government is seeking a detailed report about these two commercial allotments and details of the turnover of the developer's subsidiary companies shares and net worth of these companies
The investors and property buyers are worried about their allotment since it was cancelled and are seeking clarity on the matter
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