Allahabad High Court directed the Noida Authority to commence registry for the Meghdutam project as soon as possible. This decision came as a major relief to residents of the gated community in Sector 50, Noida.
Most residents have waited for property papers for a long time despite making full payments.
On 15th January, the bench of two judges Manoj Kumar Gupta and Anish Kumar Gupta released an interim order. It was in reply to the petition filed by 19 residents of the Meghdutam society.
Noida Authority is also directed to commence registries on the grounds of an Occupancy Certificate that was issued a long time ago. The Court also asked to recover outstanding dues from TGB Infra, the developer.
Also Read: In Noida, Logix City Center is now Bhutani City Center 32
The Allahabad High Court also condemned the Noida Authority over lasting dues by the developer. Anil Kumar Saha one of the directors in TGB Infra, holds profiles in other 39 active real estate companies. Thus, Noida Authority had all options open to notify him of the recovery of the outstanding dues.
However, Saha is in jail for now and his counsel expressed his inability to pay dues. The other two directors of the firm are untraceable.
Outstanding Dues remain the Case for a long time
Allahabad Court said, “We issue an interim mandamus directing the Noida Authority to execute tripartite sub-leases in favour of the petitioners, who have admittedly paid the entire amount and are occupying their flats based on the Authority-granted Occupancy Certificate.”
The next hearing for the case is scheduled for February 16. Located in Sector 50, Noida, the Meghdutam project comprises 173 housing units in 12,750 sqm. The land parcel was allocated to TGB Infra in 2008 and as per the Authority records, outstanding dues were valued at Rs. 55.3 Crore initially. But, were diminished to Rs. 43.7 Crore post the two-year waiver under the State Government’s rehabilitation package.
Also Read: Noida Continues to lure Investors, Property Registration Surged by 6% in Q3, FY 2024
However, the developer didn’t accept the same.
According to Noida Authority, the developer is eligible to pay 25% (Rs. 10.9 Crore) of the recalculated dues as advance to be eligible for commencing the registry procedure.
Kanwar Lal Sipani, AOA President, said the final list of petitioners will be shared in the next hearing. “We will then coordinate with the Authority for the execution of registries.”
The residents also urged that in October 2015, they received the Occupancy Certificate and paid the amount in full. Thus, the Noida Authority has no legal grounds to uphold the Tripartite agreement for overdue payments from the developer.
In the year, Noida Authority tendered several notices to TGB Infra between May and August. The notice was regarding cancelling the land allotment.
Multiple Notices from the Noida Authority remained Unanswered
In May 2024, a notice regarding pending dues was put on display at Meghdutam society’s main gate. Next in October 2024, TGB Infra, the developer was notified about the case transfer to the Economic Offences Wing (EOW) if the pending dues remain unclear.
The residents filed a petition in the Allahabad Court based on recommendations made by Amitabh Kant’s committee. The recommendations mandate an expedited registration process.
Also, the reference to the Supreme Court’s judgment involving Amrapali Group and Lotus 300 cases. The ruling in these cases, protected the rights of homebuyers.
