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Developers begin making payment in Sports City housing scheme

Developers begin making payment in Sports City housing scheme

Hindustan Times17 hours ago
The Noida authority on Friday said that two builders who have their group housing projects in the Sports City scheme have paid their pending dues and rest of them are in the process of clearing their dues soon. The move comes after the authority issued notices to the developers to pay the dues against their respective housing projects. Developers begin making payment in Sports City housing scheme
'We have issued the notices to the developers, who are yet to clear their dues in the Sports City scheme,' said a Noida authority official aware of the development.
The lead developer Lotus Greens, who has its housing projects in Sector 150, have made ₹90 crore payment to the Noida authority in response to the notice. The Lotus Greens has Godrej, Tata, Brick Rise Developer and Ace among others as its consortium members, who are developing housing projects in Sector 150, said authority officials.
In March 2025, the Noida authority had issued notices to the developers following an Allahabad High Court order passed in February. Other builders from the same project have also shown interest in making payments soon, said officials.
At least 62 notices were issued in the Sports City projects, which together owe about ₹12,000 crore. The authority had allotted the housing land in 2010 onwards to four lead developers who later subleased the land to these 62 developers, said officials.
On February 24, 2025, the Allahabad High Court passed 12 judgments pointing out major problems in how the projects were handled. It ordered the Central Bureau of Investigation (CBI) and Enforcement Directorate (ED) to investigate three of the four projects. The court mentioned misuse of land, financial irregularities, and failure to build the sports facilities that were promised. It also pointed to a dirty nexus between builders and Noida authority officials.
The court said developers cannot sell plots, book flats, or change shareholding in their companies until they finish building the required sports facilities. It also rejected their requests for relief, such as waiving penalties and cancelling demand notices.
Several builders have gone to the Supreme Court to challenge the High Court's decision. The top court has allowed the investigations to continue but told the agencies not to take harsh action for now. The next hearing is in the first week of August, 2025.
Following the court's direction, the Noida authority has formed a committee led by an Additional CEO to ensure developers follow rules, pay dues, and build the required sports infrastructure.
The court looked closely at projects in sectors 78, 79, and 101 (led by Xanadu Estate), and Sector 150 (by Logix Infra and Lotus Greens). The fourth project is led by ATS Homes.
The projects were supposed to build sports facilities on 798 acres of land, including golf courses and a stadium, but instead focused on group housings and commercial buildings.
Two developers, Xanadu and Logix, are now under insolvency, which the court said was being used to avoid paying dues.
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Developers begin making payment in Sports City housing scheme
Developers begin making payment in Sports City housing scheme

Hindustan Times

time17 hours ago

  • Hindustan Times

Developers begin making payment in Sports City housing scheme

The Noida authority on Friday said that two builders who have their group housing projects in the Sports City scheme have paid their pending dues and rest of them are in the process of clearing their dues soon. The move comes after the authority issued notices to the developers to pay the dues against their respective housing projects. Developers begin making payment in Sports City housing scheme 'We have issued the notices to the developers, who are yet to clear their dues in the Sports City scheme,' said a Noida authority official aware of the development. The lead developer Lotus Greens, who has its housing projects in Sector 150, have made ₹90 crore payment to the Noida authority in response to the notice. The Lotus Greens has Godrej, Tata, Brick Rise Developer and Ace among others as its consortium members, who are developing housing projects in Sector 150, said authority officials. In March 2025, the Noida authority had issued notices to the developers following an Allahabad High Court order passed in February. Other builders from the same project have also shown interest in making payments soon, said officials. At least 62 notices were issued in the Sports City projects, which together owe about ₹12,000 crore. The authority had allotted the housing land in 2010 onwards to four lead developers who later subleased the land to these 62 developers, said officials. On February 24, 2025, the Allahabad High Court passed 12 judgments pointing out major problems in how the projects were handled. It ordered the Central Bureau of Investigation (CBI) and Enforcement Directorate (ED) to investigate three of the four projects. The court mentioned misuse of land, financial irregularities, and failure to build the sports facilities that were promised. It also pointed to a dirty nexus between builders and Noida authority officials. The court said developers cannot sell plots, book flats, or change shareholding in their companies until they finish building the required sports facilities. It also rejected their requests for relief, such as waiving penalties and cancelling demand notices. Several builders have gone to the Supreme Court to challenge the High Court's decision. The top court has allowed the investigations to continue but told the agencies not to take harsh action for now. The next hearing is in the first week of August, 2025. Following the court's direction, the Noida authority has formed a committee led by an Additional CEO to ensure developers follow rules, pay dues, and build the required sports infrastructure. The court looked closely at projects in sectors 78, 79, and 101 (led by Xanadu Estate), and Sector 150 (by Logix Infra and Lotus Greens). The fourth project is led by ATS Homes. The projects were supposed to build sports facilities on 798 acres of land, including golf courses and a stadium, but instead focused on group housings and commercial buildings. Two developers, Xanadu and Logix, are now under insolvency, which the court said was being used to avoid paying dues.

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