Real Estate

Real Estate Transactions

Noida Authority orders sealing of unsold units in ATS & Supertech projects

Economic Times  

The Noida Authority has initiated action against developers who are yet to act on complaints related to handover of maintenance to apartment owners' associations, among others. In a meeting in August, the Authority had given developers a September 30 deadline. The most common complaint was interest-free maintenance charges not being transferred to the AOAs after the handover. Noida Authority ordered the sealing of unsold units in projects by ATS and Supertech. An unoccupied penthouse of ATS One Hamlet in Sector 104 and unsold units in Supertech Capetown in Sector 74 will be sealed. No further construction would be allowed in the Capetown project as the developer had not only failed to resolve issues buyers have raised but also had not paid water charges amounting to about INR 10 crore. The Authority has asked Prateek Infra to submit a resolution plan for paying the remaining funds to the AOA of Prateek Edifice in Sector 107. It also ordered an inspection on the basis of complaints of the AOA of Mahagun Moderne in Sector 78. Mahagun and Sunshine Infrabuild Pvt Ltd (Sunshine Helios in Sector 78) were let off with a warning as the two developers said the cases were pending before the Allahabad high court. ATS group was also asked to submit by October 4 a resolution plan for sorting out issues with the AOA and draft another proposal for Greens Village in Sector 93A.