Noida: In the audit of its performance from the Noida Authority, Comtroller and General Auditor (CAG) have found that three developers – waves, 3C and Group Logix – bagged Lion from the commercial land quota carried out between 2005 and 2018 and there was a “systematic failure to take Action “Although collective contributions crossed Rs 14,000 Crore in March 2020.” Some cases involve the task of tasks with related officials calling for strict action to be taken by the government, “said the central auditor in the report.
Of the total quota conducted in 2005-2018, 79.8% of commercial land allocated for these three companies, auditors found, adding examinations that reveal violations of their terms and conditions by the approval of the Noida official.
In a stinging observation, which echoed the observation of the Supreme Court about collusion between the authority of Noida and developers in the hearing into the legality of the Twin Towers of the Emerald Court earlier this year, the CGA report noted, “a systematic failure to take action in it even though there are repeated violations.
Combined With non-payment instances involving more contributions than Rs 14,000 Crore shows that the main goal of Noida seems to be a land allocation for them and allow them to get further benefits than for commercial development purposes.
“According to the auditor, Wave was allocated 6.63 lakh square meters Between 2008 and 2010, Logix 10.76 lakh SQM between 2010 and 2011 and 3C 21.71 lakh SQ meters between 2010 and 2014.
Exit from the total area of 48.98,440 sqm allocated in category advertisements during the period under the audit, 39.10.376 SQM area is allocated for these three companies.
Against the Rations of Rs 15,694 Crore, contributions reached Rs 14,958.45 Crore on March 31, 2020, the auditor said.
Wave has moved the National Company Law Course, expressing its inability to develop the project.
3C and LogiX have deviated most of their land to third parties for development.
Noida does not prescribe any criteria to assess the promoter’s ability to complete the project in the specified time, while making some plot allotment to the same group, the report said.
As a result, 12 projects among the 16 plots allocated cannot be completed until November 2020.
The Noida Authority failed to monitor the implementation of the project, CAG noted.
The report also shows that during 2010-2013, the failure of Noida’s authority in a thorough test and lacunae in the policy caused the transfer of commercial property to entities that did not meet the requirements.
The audit found that the plot worth 1,680 crore (1.43 lakh sqm) was allocated for entities, the prime facie did not meet the requirements, did not meet the technical criteria.
Furthermore, members who are relevant to the credentials who are qualified consortiums, come out in a short time (five days to 13 months) than allotments.
Thus, the land entered the hands of the entity that was unable to carry out the project, CAG noted.
The plot is transferred without collecting the necessary fees, lead not only to lose Rs 83.49 Crore to Noida Authority but also facilitates back to the entity that does not meet the qualification criteria.
This produces non-execution of projects while Noida facilitates alliasts by continuing to relax conditions, observable audit reports.
The rescheduling provision of payment was introduced to provide one-time assistance for all but CAG noticed that recurring rescheduling was permitted in seven cases even though there was no payment made.
As a result, these seven allotte fees spun to Rs 4,257 Crore against RS 2,383 Crore rations, audits found, adding Noida also failed to take any action against these seven absenteeism.
3 Realtors get 80% of commercial land, running RS 14,000 crore contributions, said CAG
