Noida Authority Seeks State Support for Industrial and IT Growth

                Noida: Noida Authority has decided to refer to the state govt cases of defaulting industrial and IT/ITES plots — allotted under both the industrial and institutional categories — and seek 
a resolution. The move will give one final chance to the defaulting plot owners to clear their dues and obtain functional certificates.
The cases involve plots that failed to secure functional certificates despite the govt extending the deadline to Dec 31, 2024. The owners of most of these plots have either payments 
overdue or are yet to complete construction on them.
In Dec 2023, the state govt had come out with an order extending the timeline for declaring industrial and IT/ITES plots functional to Dec 31, 2024. This order applied to plots that were 
not ready although more than eight years had elapsed — as of July 28, 2020 — since the execution of the lease document, or where the stipulated timeline in the lease document 
expired.
Despite this extension, more than 80 industrial plots and around 90 in the institutional category failed to comply with the order.

In a board meeting on Jan 2, the Authority reviewed the status of these plots.
In the industrial sector, 206 plots were supposed to have been completed and had secured functional certificates by Dec 31. Of these, 114 plots are now functional.
Four plots were cancelled due to liabilities or other issues, and eight are under litigation. However, 80 plots were still found to be non-functional, including 30 with overdue payments. 
Discussions with 21 of these allottees revealed that many were facing financial challenges and had requested payment plans based on instalments.

Among the 88 non-functional plots (including the eight under litigation), 82 were found to have completed construction, three are under construction, and three are vacant because of 
litigation.
In the institutional category — specifically IT/ITES plots — 107 land parcels were reviewed. Of these, 16 had obtained functionality certificates, while 91 were yet to meet the required 
standards. Among these, 29 plots were initially cancelled due to lack of construction. However, 18 were later restored by the state govt following revision applications. For the 
remaining 11 cancelled plots, no restoration applications were filed, leaving their status unresolved.
As many as 78 plots were found to have had constructions that were more than 50% of their permissible Floor Area Ratio (FAR) but were yet to be declared functional. Of these, 38 
were granted an extension till Dec 2024, while 24 neither received an extension nor achieved functionality.

Source : Times of India