Advertisement
When should a housing society in Mumbai start considering re...
From GST on JDAs to SEBI’s REIT reclassification and the S...
Stay ahead in the world of real estate with our daily podcas...
Stay ahead in the world of real estate with our daily podcas...
In a major relief for Meghdutam housing project residents in Sector 50, Noida, the Allahabad High Court has directed the Noida Authority to proceed with flat registrations, resolving years of delay. The interim order, issued on January 15, follows a petition by 19 residents who paid in full but lacked property documents. TGB Infra Developers, facing financial difficulties with dues of INR 43.7 crore, failed to clear 25% of recalculated dues. With a crucial hearing set for February 6, residents hope to finalize eligible homebuyer lists and expedite registrations under state policies prioritizing stalled projects.
The Allahabad High Court has granted a significant relief to residents of the Meghdutam housing project in Sector 50, Noida, by instructing the Noida Authority to proceed with the registration of flats. This decision comes after many residents have faced prolonged delays in obtaining property documents, despite having made full payments for their homes. Advertisement
On January 15, a division bench comprising Justices Manoj Kumar Gupta and Anish Kumar Gupte issued an interim order in response to a petition filed by 19 residents. The court directed the Noida Authority to carry out the registries based on an occupancy certificate that was issued almost a decade ago. The bench also criticized the Authority for its inaction in recovering dues from TGB Infra Developers, the company responsible for the project.
TGB Infra Developers was allocated the Meghdutam project in 2008, which consists of 173 residential units. However, the company has been embroiled in financial issues, with outstanding dues initially reported at INR 55.3 crore. This amount was later reduced to INR 43.7 crore after a two-year waiver from the state government. Despite this, TGB did not take advantage of the waiver and has failed to make the required advance payment of 25% of the recalculated dues, which amounts to INR 10.9 crore.
The court's ruling is a crucial step for the residents, who have been living in their flats since receiving occupancy certificates in October 2015. AOA president Kanwar Lal Sipani, one of the petitioners, expressed optimism about the upcoming hearing scheduled for February 6, where the list of eligible homebuyers for registration will be finalized. Sipani emphasized the importance of coordinating with the Noida Authority to ensure that the registries are executed promptly.
In addition to the court's decision, the residents referenced the Uttar Pradesh government's policy aimed at expediting the registration process for stalled projects. This policy was developed based on recommendations from the Amitabh Kant committee, which focused on protecting homebuyers' rights. The petitioners also highlighted previous Supreme Court judgments that reinforced the need to prioritize homebuyers in similar situations, including the notable Amrapali and Lotus 300 cases.
The challenges faced by TGB Infra Developers are compounded by the legal troubles of its directors. Anil Kumar Saha, one of the directors, is currently in jail, and two other directors are untraceable. The court noted the need for the Noida Authority to take stronger action in recovering the dues, given that Saha is involved in multiple real estate companies, which could provide further avenues for recovery.
As the situation unfolds, residents are hopeful that the court's intervention will lead to the resolution of their long-standing issues. The upcoming hearing is expected to clarify the path forward for the registration process, allowing residents to finally secure the official documents for their homes. The Noida Authority's response to the court's order will be closely monitored by both the residents and legal experts, as it may set a precedent for similar cases in the future.
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
