BPTP gets land worth Rs 1,170 cr in Noida

The Noida Development Authority has allowed real estate development company BPTP to take possession of land worth Rs 1,170 crore...

Written by Express News Service | Noida | Published:February 10, 2009 1:21 am

The Noida Development Authority has allowed real estate development company BPTP to take possession of land worth Rs 1,170 crore after the company said that it was unable to undertake a project worth Rs 500,000 crore,as agreed upon earlier. Land acquisition for the develproject had been stalled after the BPTP expressed its inability to pay the entire amount.

“The authority imposed a Rs 130 crore fine on the company and allowed it to take control of the property that had been paid for,” said sources. The authority has registered the deal and transferred ownership of the land to the BPTP.

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