Noida: More problems seem to be in stores for thousands of buyers who have bought or ordered flats in projects planned in sports cities noida.
General Regulators and Auditors (CAG) have stated in their reports that landed in sectors intended to develop sports infrastructure, along with housing apartments, allocated to provide improper benefits for undue people, causing the loss of RS 9,000 Crore to Noida authority.
Have asked the state government to take action that should be exemplary against officers who failed to fulfill the purpose behind the scheme.
The CAG report will be a barrier for flat buyers who look forward to the breakthrough before the assembly selection next year.
The sources in Noida authorities said this problem had surpassed their hands and resolution can be found only if the state government decided to intervene to remove stranded buyers.
Noida’s authority has sanctioned around 46,000 units in group housing projects approved in four sports cities.
Of this amount, 8,000-10,000 units have been occupied.
The other is incomplete or has not been launched.
Until 2016, it is a common practice to captivate buyers during the pre-or soft launch phase and, therefore, the estimated number of actual numbers of those who are jammed are unknown.
Mooted in June 2007, sports cities were considered to host large ticket sports events such as Commonwealth games.
For this, the authority allocates land in four sectors, namely, 78, 79, 150 and 152.
The maximum development is planned in sector 79 and 150.
The city sports scheme offers land parcels measuring 826 hectares, between 2011 and 2015.
The plot reserve rate varies from Rs 11,500 per square meter to rs 26,200 per square meter.
The overall allotment process will take RS 5,338 Crore authorities only as land premiums, in addition to interest.
The CAG report did not mention how much Noida could secure a decade after launching four sports cities but estimating losses on her punda with Rs 9,000 Crore songs.
Sports cities are allocated for only four consortiums – Xanadu Estates Pvt Ltd (Sector 78 and 79), Logix Infra Developers Pvt Ltd (Sector 150), Green Green Construction Pvt Ltd (Sector 150) and ATS Homes Pvt Ltd (Sector 152).
However, the authority allowed the plot sub-division to other parties and from time to time, four large land parcels were divided into 81 pieces.
The report said authority officials provide improper assistance for unworthy real estate players.
CAG also shows that the technical and financial background of four consortiums is not checked properly.
The scheme, the report said, was launched without the provisions of development activities under the master plan.
The authority did not invite objections and suggestions while changing land use in a broad way there was also no approval from the NCR planning board, said CAG.
In addition, Noida authorities failed to receive approval even from the state government before launching the scheme, the report stated.
“Initiation of sports city schemes without irregular consent,” he added.
City sports caused RS 9,000 crore losses for extequer, said CAG
