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Noida Authority warns buyers at stalled projects over unpaid dues, sparking legal debate.
The Noida Authority has started placing warning boards at housing projects where developers owe land dues or haven’t joined the government’s rehabilitation scheme, citing a need to resolve stalled projects.
The first board was installed at Lotus Panache, a project under insolvency proceedings.
Authorities say the move is informational and lawful, aimed at pressuring defaulters, but residents argue it violates the CIRP moratorium and could harm revival efforts.
The policy, part of a 2023 initiative, has seen 35 developers join, depositing ₹528 crore, while 22 remain non-compliant facing enforcement actions.
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La Autoridad de Noida advierte a los compradores en proyectos estancados sobre cuotas impagadas, provocando un debate legal.