YEIDA Cancels Major Land Allotments Near Noida Airport Over Unpaid Dues

The Yamuna Expressway Industrial Development Authority (YEIDA) has canceled land allotments to Sunworld Infrastructure and Supertech Township near Noida International Airport due to overdue payments. Developers ATS Realty and Greenbay Infrastructure were also given deadlines to clear their dues. The decision followed YEIDA's 81st board meeting.

The Yamuna Expressway Industrial Development Authority (YEIDA) has announced the cancellation of land allocations to Sunworld Infrastructure and Supertech Township near the Noida International Airport due to significant outstanding dues. This decision affects approximately 100 acres of land in Sector 22D along the Yamuna Expressway.

YEIDA revealed that Sunworld Infrastructure had arrears amounting to Rs 164.86 crore, while Supertech Township owed Rs 137.28 crore. Alongside these cancellations, the authority has granted ATS Realty until August 31 and Greenbay Infrastructure until July 31 to settle their dues, which comprise 25 percent of their total outstanding amounts.

During YEIDA's 81st board meeting chaired by its chairman Anil Kumar Sagar, the decision was finalized. YEIDA CEO Arun Vir Singh emphasized that other developers have met their payment deadlines, with specific developers like Greenbay Infrastructure and ATS Realty demonstrating partial payments and receiving extensions to meet remaining obligations. The authority also mentioned that some developers are entangled in insolvency or court proceedings.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)