Where is the Sports Infra in 'Sports City'

Sports City Scam www.infralive.com 27 Infra LIVE July 15, 2022 Scan-A3 Scan-B: Excerpts from sanctioned plan caveats attached to land use, endangering the interests of homebuyers. As none of the major Sports infrastructure has been undertaken till date and they are not likely to be completed in near future, the homebuyers of those residential projects being constructed are likely to face major issues in getting their flats registered. Undue benefit of Rs 923 crore toLogixGroup Further, C&AG has deter- mined that Noida Authority has given significant incentives of Rs 923 crores in terms of reduced pricing of plots and allowance of extra Floor Area Ratio (FAR) and Ground Coverage (GC) to the Logix Group consortium for development of sporting infra- structure as against the premium of Rs 1,094 crores for 907,988 sqm(224 acres) of land. Conclusion Now, the consequences of selecting an ineligible consortium can be seen on the ground. In the last eleven years, Logix group has not completed a single sports infrastructure facility. The world class sports infrastructure envi- sioned for holding national and international sports events at Noida failed to materialise even after allotment of 224 acres of prime land at subsidised rate eleven years ago. Logix Group/ other real estate developers appeared to have grabbed nearly 224 acres of prime land in the city at half the market rate with the aid and abetment of senior officials of the Noida Authority. They have sub-divided the plots and sub-leased to the newly created subsidiaries which in turn sold/ transferred the plots to third parties with windfall gain of Rs 5,380 crores. They simply acted as a broker/ trader of the plots, rather than a real estate developer of sports city. The Authority needs to act swiftly to cancel the allotment/ lease deeds of the plots.