Industrial Plot No.1, Sector 90, Noida

Industrial Plot No.1, Sector 90, Noida www.infralive.com 40 Infra LIVE June 15, 2022 advance. The lease rent is payable from the due date intimated for execution of l e g a l d o c ume n t s . T h e Authority will be empow- ered to enhance the annual lease rent on expiry of every 10 years from the date of execution of the lease deed and/or possession which- ever is earlier, by an amount not exceeding 50 per cent of 17,09,75,064 has been paid by the lessee to the lessor … and balance Rs 35,67,20,000 shall be paid to the lessor in sixteen half yearly equal instalment alongwith inter- est @ 11 per cent per annum compounded half yearly. (ii) In addition to the premium of plot, annual lease rent @ 2.5 per cent of the total pre- mium would be payable in I. Now the lease deed wit- nesses as follows: 1 (a) That in consideration of: (i) T o t a l p r e m i um o f R s 5 2 , 7 6 , 9 5 , 0 6 4 ( 5 0 , 9 6 , 0 0 , 0 0 0 + 1,80,95,064 additional pre- mium of land) towards the land premium calculated @ Rs 5,096 per sq. mtrs out of which Rs 15,28,80,000 +Rs 1,80,95,064 i.e. total Rs Box-A: Relevant extracts of Lease Deed dated May 26, 2008 executed on May 30, 2008 RERA website, CBS had claimed construction of 3,205 sqm under Noida World One Phase I & II project for commercial usage on rd Ground floor to 3 floor (4 floors) in Tower-C and on Ground floor nd to 2 floor (3 Floors) in Tower-B whereas Bhutani Group has claimed construction of 19,232 sqm under Alphathum Phase I & II project for commercial usage on th th 4 floor to 27 Floor in Tower-C rd th and on 3 floor to 27 floor in Tower-B. Incidentally, as per the approved revised sanctioned plan, entire commercial area of 6,307 sqm was allowed for construction on GF/FF (two floors) in Tower B and GF/FF (two floors) in Tower- C. These major discrepancies require urgent investigation by the state government, immediate remedial action and fixation of responsibilities on the defaulting agencies and officials. UP RERA, CBS, and Bhutani Group have not answered to the queries raised by us on the above issues. promoters had claimed construc- tion of commercial areas of 45,975 sqm in eight commercial projects as per the details uploaded by them on UP RERA website. However, in completion certificate for two Towers (Tower B & C), Noida Authority appears to have reconciled the areas constructed for commercial use with that of the approved plan, data uploaded by both promoters on UP RERA provided a distinctly different picture. As per the data uploaded on UP