Noida: The Yamuna Expressway authority has given Greenbay Infrastructure a deadline of June 30 to deposit Rs 110 crore, an instalment that the developer has defaulted on, failing which it will cancel the allotment of 100 acres of land for a township in Sector 22D.
The land was allotted to Greenbay in Feb 2011. The developer subleased a portion of this to Emerald Properties in Jan 2014 for a group housing project. It later launched Golf Village township, which comprises 691 plots, of which registries for 300 have been completed till now.
Officials of the Yamuna Expressway Industrial Development Authority (YEIDA) said on Wednesday that this ultimatum was given because the developer defaulted on payment after being allowed to avail UP govt’s rehabilitation package for stalled projects.