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Monday, September 21, 2020

Noida should have properly verified land acquisition process of builder before allowing it: NCLAT

The case pertains to 3C Project Private Limited, which had planned to build 2,454 flats of different categories and sizes in Dadri area of Gautam Buddha Nagar.

Written by Aashish Aryan | New Delhi | Updated: September 3, 2020 10:15:39 am
gst, gst on land, gst on sale of land, gst on developed land, business newsThe case pertains to 3C Project Private Limited, which had planned to build 2,454 flats of different categories and sizes in Dadri area of Gautam Buddha Nagar. (File)

In one of the first indictment of its kind, the National Company Law Appellate Tribunal (NCLAT) has in an order said the New Okhla Industrial Development Authority (Noida) should have properly verified the land acquisition process of a builder before allowing it to go ahead with the construction.

“The NOIDA Authority would have done better by doing a bit of introspection and take appropriate steps to mitigate the hardship of the allottees of the residential project in question who claimed to have been promised possession of flats within 33 months. If there was any flaw in the land acquisition proceedings, steps should have been taken to rectify the same,” a three-member Bench of the NCLAT said in its order on August 28. The case pertains to 3C Project Private Limited, which had planned to build 2,454 flats of different categories and sizes in Dadri area of Gautam Buddha Nagar.

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