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The Noida Authority has requested the Economic Offences Wing (EOW) of Delhi Police to probe two developers, TGB Infrastructure and Kindle Infraheights, for defaulting on INR 471.95 crore in housing land dues despite multiple notices. TGB Infrastructure owes around INR 75.59 crore for land in Sector 50, while Kindle Infraheights has not paid INR 396.36 crore for land in Sector 143. The move aims to determine whether funds collected from homebuyers were diverted. This action is part of a broader effort to recover land dues from multiple defaulting developers in Noida.
The Noida Authority has formally approached the Economic Offences Wing (EOW) of Delhi Police to investigate two property developers who have not cleared significant land cost dues, despite repeated reminders over several years. The developers under scrutiny are TGB Infrastructure Private Limited and Kindle Infraheights Private Limited. TGB Infrastructure was allotted 12,750 square metres of land in Sector 50 for a housing project but has still not paid approximately INR 75.59 crore in dues up to the end of November this year. Kindle Infraheights, allocated 50,000 square metres in Sector 143 along the Noida Greater Noida Expressway, has reportedly not cleared about INR 396.36 crore in dues. Advertisement
Noida Authority CEO Lokesh M stated that the authority has written to the EOW because the developers collected money from homebuyers but failed to pay their dues. He explained that the move is intended to recover the outstanding amounts and establish whether the funds were diverted. The authority had earlier given all real estate projects a final opportunity to clear their dues by the end of 2023, warning of strict action against defaulters.
Officials highlighted that recovery efforts, including issuing certificates and attaching assets, have so far not fully recovered the amounts owed. Attempts to contact representatives of TGB Infrastructure and Kindle Infraheights were unsuccessful. The authority has already approached the EOW for 12 other real estate projects where large dues remain unpaid.
According to the authority's finance department, more than 100 developers have defaulted on land cost payments, collectively owing around INR 34,000 crore. Many of these developers have attempted to evade action by approaching the courts. Despite these challenges, the Noida Authority continues to pursue legal and administrative measures to recover its dues and ensure compliance from real estate promoters.
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