Industrial Plot No.1, Sector 90, Noida

Industrial Plot No.1, Sector 90, Noida www.infralive.com 38 Infra LIVE June 15, 2022 the projects Alphathum Phase I- IV when the promoters Bhutani Group did not have valid legal rights on the land as required under the section 4 (2) (l) of Real Estate (Regulation and Develop- ment) Act 2016. Two, it failed to take note of the terms and conditions of lease deed of the industrial plot that was solely meant for IT/ ITES Park only. It instead registered eight commercial projects and one residential project being devel- oped by two different promoters on the same plot of land, leased to CBS by the Noida Authority. Three, the sanctioned plan uploaded by two promoters was also the same, which was origi- nally approved by the Noida Authority in July 2014 for five projects (Noida World One Phase I-V) of CBS which provided for construction of Tower A (G+23), Tower B (G+6), Tower C (G+6), Tower D (G+6), Tower E (G+3) and Tower F (GF only). Four, on September 18, 2017 the Noida Authority approved the revised sanctioned plan of CBS that made a provision for Tower A (G+26), Tower B (G+26), Tower C (G+26), Tower D (G+21), Tower E (G+26), Tower F (GF), Tower J (GF+2F). The Bhutani Group has while upper floors are being developed by Bhutani Group. Tower-D is being entirely devel- oped by CBS. While Tower-E is being fully developed by Bhutani Group. Extension charges paid? The project is still under construction, though the Noida Authority in January 2021 gave completion certificate for two towers. The lease deed disclosed that CBS has paid Stamp duty of Rs 5.38 crores and the interest of Rs 4.20 crores on September 13, 2012 for failing to complete the project in stipulated time. How- ever, there is no disclosure whether it has paid extension charges at the rate of 4 per cent of the premium for each year of extension, which is required to be paid as per terms of the lease deed. Violation-5: Projects registra- tion by UP RERA in perfunc- tory manner UP RERA has miserably failed in performing its duties. It has failed on multiple fronts. One, it is also not understood as to how UP RERA has registered Scan-B (4 of 5)