Noida authority may lift ban on sports city project in sector 150, ET RealEstate
NOIDA: The Noida Authority is considering lifting a ban on the stalled Sports City project in Sector 150, which was allotted to Lotus Greens Constructions. The project came to a halt in 2021 following a Comptroller and Auditor General (CAG) audit that raised concerns about land allotment procedures.
Officials said the project is under review, and the Authority is planning to discuss it at a board meeting.
The project has left over 10,000 homebuyers in limbo and has accumulated dues exceeding Rs 2,700 crore to the Authority.
According to an official, as a possible solution, the Authority might allow a co-developer, potentially the Aditya Birla Group, to step in if Lotus Greens meets the stipulated conditions. Noida Authority CEO Lokesh M said the Sports City project would be presented at the next board meeting, where the developer’s revised plans, which ensure that 70% of the land will be dedicated to international-standard sports facilities, will be reviewed.
“We will present this Sports City project in the next board meeting. All the objections raised by the CAG have been resolved by the public accounts committee (PAC),” Lokesh M said. He added that the Authority is open to the idea of a co-developer under the state govt’s rehabilitation policy, which allows the original developer to continue the project while retaining land ownership. “This will not affect the Authority’s interests, and we will ensure our dues are paid,” he said.
To resume work on the project, the Authority will need to reverse decisions made during the 201st board meeting in Jan 2021, which were based on the CAG’s report. Since then, all sales, purchases, and flat registrations for the Sports City project have been on hold, with the Authority refusing to approve any building plans until the developers completed the sports facilities and adhered to the scheme’s regulations.
