Noida Authority to Contest Court Order on Lotus Flats Registration

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    The Noida Authority is preparing to challenge a recent Allahabad High Court decision instructing it to register flats in Lotus Boulevard Espacia and Lotus 300. The Authority cites outstanding dues from the builders as the reason for its inability to proceed with registrations.

    In rulings on Feb 29, the high court directed the Authority to register flats in these projects within six weeks and initiated an ED investigation against the builders.

    Noida Authority CEO Lokesh M stated, “We are reviewing the court order and considering filing a review or appeal. We cannot neglect our dues, which are crucial for development.”

    The high court instructed the ED to recover the dues from the developers but did not specify the course of action if the recovery failed.

    There are 168 homebuyers awaiting flat registrations in Lotus Espacia, developed by Cloud 9 Projects. The court directed the Authority to issue occupancy certificates and register flats within six weeks, along with recovering over Rs 87 crore in dues.

    Following the court’s decision, the Association of Apartment Owners (AOA) of Lotus Espacia requested flat registrations from the Noida Authority, but they are yet to receive a response.

    In Lotus 300, the Authority was directed to issue occupancy certificates and execute registrations within a month for 336 flats. However, the developers owe over Rs 160 crore to the Authority.

    The court also addressed the insolvency proceedings against Hacienda Project Private Limited (HPPL), the developer of Lotus 300, stating that the moratorium under the Insolvency and Bankruptcy Code, 2016, applies only to HPPL, not its promoters.

    The AOA president of Lotus 300 expressed concerns over the delay in flat registrations and stated plans to seek intervention from the state government.

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