Noida Authority to take stern actions against builders who miss deadline

The Noida Authority will take action against builders who fail to deliver flats to homebuyers within the deadline promised to the three-member ministerial committee. The builders of 32 projects in Noida had promised to hand over about 15,000 flats to homebuyers. UP Chief Minister Yogi Adityanath has directed the officials to take strict actions against the builders if they fail to deliver the flats within the deadline promised to the three-member ministerial committee. According to officials, the action will be taken under provisions of Section 40 of the Industrial Development Act 1976. This gives the Authority the right to recover its dues after attaching the property allotted by it. It also includes sealing and attaching of property besides issuing of recovery certificates. Source: ETRealty