India News | Noida Authority Issues Rs 235 Cr Notice to DLF over Mall of India Land Compensation
Get latest articles and stories on India at LatestLY. The Noida Authority has issued a notice to real estate developer DLF to pay Rs 235 crore as compensation to the previous owner of the land on which the Mall of India has been built, a senior official said Monday.
Noida, Dec 26 (PTI) The Noida Authority has issued a notice to real estate developer DLF to pay Rs 235 crore as compensation to the previous owner of the land on which the Mall of India has been built, a senior official said Monday.
The DLF, however, said it was yet to receive the communication.
The development comes in the backdrop of a Supreme Court order on May 5 in which it had directed the Noida Authority to ensure payment of compensation for the land to its previous owner Veerana Redyy.
"Yes," Noida Authority CEO Ritu Maheshwari told PTI, confirming that the notice has been issued.
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Another senior official told PTI that the notice was issued to DLF on December 23 and the amount has to be remitted in 15 days.
When contacted, a DLF spokesperson said in a statement: "We have not received any notice. Once we get it, we will review it."
The DLF Mall of India is located in Sector 18, Noida's commercial hub.
The land where the mall has been built was acquired by the Noida Authority, which functions under the UP government's Industrial Development Ministry, in 2005 from Reddy and was later auctioned to DLF.
A major part of the compensation to Reddy remains unpaid and the case reached the Supreme Court, according to an official.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)