unlawful Sale of plots (Transfers) via Change in Shareholding of Allottees was objected by Audit. NOIDA imposed charges for Change in Shareholding (CIS) of allottees in proportion to variations in shareholding pattern of the companies. NOIDA issued an Workplace order on 27 Oct 2010 abolishing the CIS fees as well as need of deed for registering alterations in shareholding sample of an organization as it was stated which the improvements in shareholding could not be considered as transfer of assets of a company.

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NOIDA obtained eighty for every cent of land under the Land Acquisition Act, 1894 applicable upto December 2013, giving a regular justification of industrial progress for invoking the urgency clause, which enabled the Collector to dispense With all the rights of landowners in respect of hearing on objections to proposed land acquisition.

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GH, industrial and leisure. On this fixation, the value for recreational land was calculated afresh through the Authority excluding the costs associated with internal advancement, maintenance, future maintenance cost and curiosity Price. Thus, the rates of leisure land ended up saved on Significantly reduced facet. Even the costs incurred by Authority were not recovered on 70 for every cent of land in sporting activities Cities.

contemporary Allotments ended up manufactured inspite of outstanding dues. The CAG has identified that NOIDA ongoing to generate allotments Regardless of realizing the allottees had been defaulting in producing payments in situations of past allotments built to them. within a check Check out carried out, it was located the officials on the Authority apparently connived and colluded Along with the allottees though building allotments to Amrapali and Unitech group of companies for the plots of land in Sectors 76, a hundred and twenty and one hundred forty four for the duration of 2009-2011 regardless if there have been sizeable exceptional dues from them.

The allottees with the athletics town plots failed to build the sporting infrastructure as envisaged by NOIDA, thus defeating The entire notion of sporting activities City. Audit further more analysed and observed the builders did not acquire any initiative in establishing the sporting infrastructure Even with big leverage offered check here to them in pricing of the athletics City plots as talked over down below: The RP for that Sports town plots have been fixed by having a weighted ordinary of the fees for your three categories of land takes advantage of viz.

it really is Hence, apparent that NOIDA’s determination to allow sub-division of plots with out obtaining any regulatory system in position to make certain completion of jobs, served efficiently only for a backdoor entry for transfer of important property into your hands of ineligible builders.

The CAG has said that several allotments to applicants on a single date were given and entrance providers have been employed for allotment of plots by diverse programs.

it might have an impact on the longer term prospective buyers of the home buyers of those residential projects as their flats can not be registered Unless of course envisioned integrated sport infrastructure in 70 % place of each Activity metropolis venture.

The CAG located that the bid price ranges in all 15 circumstances have been extremely near to the Reserve price tag fixed by NOIDA (Within 102 p.c of your Reserve value in twelve cases). Collusion involving collaborating bidders could not be ruled out, more so in These cases wherever alternate allotments had been produced to each in the participating bidders. Furthermore, these allottees didn't fork out the top quality timely and also have the dues of Rs1625 crores even after ten a long time of allotment.

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The CAG has drawn stakeholders’ awareness towards the wide-distribute corruption, undue favoritism to personal firms, arbitrariness, collusion among officers and builders in the functioning of Authority in allotment of plots through the interval 2005-2018 bringing about lack of A large number of crores of rupees towards the Authority/Government, besides creating distress to A large number of homebuyers that has invited significant strictures from Hon. Supreme court docket against NOIDA.