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Thursday, December 12, 2019

Private builders default, owe Rs 263 crore to GMADA

The official said that the builders on the defaulters' list were issued licences between 2005 and 2019, and some of the builders had not paid the charges for the last three to four years.

Written by Jagdeep Singh Deep | Mohali | Published: October 12, 2019 9:27:07 am
Effective regulation is a key element of reviving the real estate market (Express)

PRIVATE BUILDERS owe Rs 263.34 crore to the Greater Mohali Area Development Authority (GMADA). The authority has prepared a fresh list of the defaulter builders who have not paid their dues for long. The authority is likely to take action against the defaulters.

GMADA officials said that the fresh list names those who did not pay their dues till August 31. “The list has a total of 24 housing projects located in Mohali, Fatehgarh Sahib and Ropar districts. The builders are registered under Punjab Apartment and Property Regulation Act (PAPRA),” a GMADA official said.

The official said that the builders on the defaulters’ list were issued licences between 2005 and 2019, and some of the builders had not paid the charges for the last three to four years.

The official said, “The due payment includes change of land use (CLU) fees, external development charges (EDC) which covers the charges to develop the road infrastructure, parks and drinking water.”

The Bajwa Developers Limited owes the maximum — Rs 58.43 crore — to GMADA. The company did not pay the dues of its projects located in Sector 123. The owner of Bajwa Developers, Jarnail Singh Bajwa, was not available for comment.

The Altus Space Builders having its projects at Bhagat Majra and Palheri villages has outstanding dues of Rs 50.40 crore. When contacted for comment, no one from the company answered phone calls.

The Shiwalik Site Planners Pvt Limited is to pay the outstanding dues of Rs 37.05 crore for its residential projects in sectors 116 and 121.
The company could not be reached for comment. A GMADA officer said that if the builders failed to pay the dues, their power and water connections could be snapped.

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