GNIDA report: s 4k cr dues from builders mired in legal dispute
A report by GNIDA has revealed that each of these projects owes more than Rs 100 crore, with real estate major Supertech Ltd leading the defaulters' list. The company's outstanding dues of Rs 903 crore span across three projects — Rs 312 crore for a project in Sector 1, and Rs 590 crore for two projects in Sector 16B. All these projects are currently under NCLT proceedings.
Following closely is Unitech Ltd, with pending dues of Rs 828 crore across four projects in Pi 1 and 2.
These projects are now under the supervision of a Supreme Court-appointed board.
You Can Also Check:
Noida AQI
|
Weather in Noida
|
Bank Holidays in Noida
|
Public Holidays in Noida
Gaursons Group's ventures — Gaursons Hi-Tech Infrastructure and Gaursons Promoters — collectively owe Rs 303 crore. While they have deposited the premium and lease rent, a high court stay remains in effect regarding additional compensation. The dues include Rs 197 crore for Gaur City-1 in Sector 4 and Rs 107 crore for a Sector 16C project.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Villas For Sale in Dubai Might Surprise You
Dubai villas | search ads
Get Deals
Undo
ATS Infrastructure's project in Chi-IV has accumulated dues of Rs 201 crore. Though a recovery certificate was issued on May 29, 2023, the company's petition in the Allahabad high court has resulted in a stay on coercive action.
Omaxe Ltd's NRI City project in Omega-2 has dues of Rs 278 crore. Following a recovery certificate, the high court stayed coercive action on Feb 20, 2020. It asked the company to deposit Rs 10 crore, which Omaxe fulfilled.
La Residentia Developers, allotted land in Techzone-4 in 2010, owes Rs 244 crore. The case is particularly complex as the Supreme Court ruled in 2019 that 19.75% of the project (632 units) belongs to Amrapali Group. Amrapali's court receiver R Venkatramani has requested adjustments in land payments and recommended waiving the interest and penalties during the litigation period.
Other significant defaulters include Earth Town Infrastructure (Rs 229 crore), Earthcon Universal Infratech (Rs 151 crore), Connoisseur Infrabuild (Rs 154 crore), Subhkamna Buildwell & Estates (Rs 133 crore), and AVJ Developers (Rs 116 crore).
All of them are under NCLT proceedings.
Mahagun India Ltd, which owes Rs 125 crore to the Authority, has secured a high court stay related to additional compensation, with a revision petition pending with the state govt. Gayatri Hospitality and Realcon's Rs 117-crore case is linked to La Residentia Developers' petition, with the high court ordering no coercive action.
A GNIDA official said, "We are seeking legal opinion to explore possible resolutions in all these cases. Till then, it's wait and watch."
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India.com
12 minutes ago
- India.com
World's most expensive hotel room has a rent of Rs 8.65 crore per night, it's located in..., special because...
Atlantis The Royal Hotel, Dubai Most expensive hotel stay: You must have heard about many ultra-rich hotels known for their luxurious facilities but do you know which is the world's most expensive hotel room. While there are thousands of luxury hotels across the globe, the Royal Mansion suite at Atlantis The Royal, located in Dubai is unmatched due to its opulence and price tag. Known for its luxury and price tag, the ultra-luxurious two-floor suite holds the title of the most expensive hotel stay in the world. Why is Royal Mansion suite known for record-breaking Ultra-luxury? According to several media reports, the price of staying one night in the Royal Mansion is $1,00,000, which is approximately Rs 8.65 crore. For a reference, a person can buy a lavish bungalow and a luxury car in Delhi-NCR with the amount as big as Rs 8.65 crore. Talking about the luxuries of the premier hotel, the Royal Mansion suite has two floors and includes four bedrooms, a spacious living area, dining space, kitchen, bar, game room, and an office. What's special in Royal Mansion suite? One of the most important luxury and the highlight of the of the Royal Mansion suite is its 5,124 sq ft terrace with a stunning infinity pool offering views of the Arabian Sea and Palm Island. For a background, the Atlantis The Royal hotel is owned by Kerzner International, which also operates other high-end brands like One&Only and SIRO. The company is currently led by Philippe Zuber, its CEO since 2020. Royal Mansion suite: Unmatchable services of private butler service Readers should also note that what sets the Royal Mansion apart is not just its space and amenities, but the exclusivity and personalized experience it offers. The mansion offers unmatchable services of private butler service to custom-curated experiences, and most importantly, every detail is tailored for ultra-high-net-worth guests.
NDTV
12 minutes ago
- NDTV
TCS Market Valuation Erodes By Rs 28,149 crore Since Layoff Announcement
New Delhi: Tata Consultancy Services (TCS) has lost Rs 28,148.72 crore from its market valuation in two days after the company announced that it will lay off about 12,000 employees of its global workforce this year. On Tuesday, the bellwether stock declined 0.73 per cent to settle at Rs 3,056.55 apiece at the BSE. During the day, it dropped 1.23 per cent to Rs 3,041. On the NSE, it dipped 0.72 per cent to Rs 3,057. Shares of TCS had declined nearly 2 per cent on Monday. The stock has lost 2.48 per cent in two trading days. The market capitalisation (mcap) of TCS eroded by Rs 28,148.72 crore to Rs 11,05,886.54 crore in two days. India's largest IT services firm TCS is set to lay off about 2 per cent, or 12,261 employees, of its global workforce this year, with the majority of those impacted belonging to middle and senior grades. As of June 30, 2025, the TCS workforce stood at 6,13,069. It increased its workforce by 5,000 in the recently concluded June quarter. The move is part of the company's broader strategy to become a "future-ready organisation", focusing on investments in technology, AI deployment, market expansion, and workforce realignment, TCS said in a statement. "Towards this, a number of reskilling and redeployment initiatives have been underway. As part of this journey, we will also be releasing associates from the organisation whose deployment may not be feasible. This will impact about 2 per cent of our global workforce, primarily in the middle and the senior grades, over the course of the year," it said. TCS will provide appropriate benefits, outplacement, counselling, and support to the impacted employees, it added The move comes at a time when India's top IT services companies have delivered single-digit revenue growth in Q1FY26, capping off a somewhat sobering June quarter as macroeconomic instability and geopolitical tensions weighed on global tech demand and delayed client decision-making.
Indian Express
12 minutes ago
- Indian Express
Chandigarh MC mulling policy to recover unpaid property tax from defaulters: Commissioner
Amid growing financial distress, the Municipal Corporation (MC), Chandigarh has begun working on a new policy to recover property tax dues from defaulters, MC Commissioner Amit Kumar said. The commissioner shared the development while responding to questions raised by councillor Mahesh Inder Singh Sidhu, who discussed a list of the top 20 property tax defaulters, which includes both government and private institutions, collectively owing unpaid property tax worth Rs 196 crore. Sidhu stressed that recovering even Rs 200 crore could substantially ease the civic body's financial strain and help resolve multiple civic issues. Kumar informed the councillors that a step-by-step approach is being adopted and that a formal recovery policy will be drafted within three months. The commissioner noted that the PGIMER has already paid Rs 12 crore, and efforts are underway to recover more dues. He also acknowledged that legal battles with institutions have slowed recovery, with many hiring senior lawyers. Sidhu suggested the MC's legal team may coordinate closely with senior standing counsels to strengthen the MC's legal arguments. Sidhu further questioned why Chandigarh has not received the grant it is entitled to under the Fourth Delhi Finance Commission, to which Kumar responded that a request under the Sixth Delhi Finance Commission has been sent to the Union Ministry of Home Affairs. Advertisement Tax and Labor Welfare Concerns Raised Sidhu also drew the House's attention to unbilled advertisements in Elante Mall and urged immediate calculation and issuance of tax notices. The Commissioner assured action would be taken in the city's interest.
