In a significant development concerning the Sports City Project in Sector-150, Noida, the Allahabad High Court has delivered a verdict favoring Ace Infracity Developers Private Limited against Noida Authority. The dispute revolves around land allotment in the Sports City Project, where Ace Builder is a stakeholder. Despite the company making full payment for the allotted land, the authority has not provided possession to date.
Allahabad High Court Rules Against Noida Authority in Sports City Dispute with Ace Builder
Ace Infracity Developers approached the Allahabad High Court, stating that the Sports City scheme was initiated in 2014-15, and the consortium, including Ace Infracity Developers, secured the allotment of 12,00,000 square meters of land. The company deposited the required 20% amount of Rs 23,28,00,000, and the authority executed the lease deed. However, physical possession of the plot was not granted due to disputes with farmers and landowners.
The High Court’s decision requires the authority to provide possession of the land to Ace Infracity Developers. Additionally, the company is entitled to the benefit of the zero period from the date of plot allotment until now, and the interest amount should be adjusted accordingly. The court noted that despite the consortium being allotted 12,00,000 square meters of land, only 3,00,000 square meters were provided, causing hindrance to construction.
The dispute further involves the authority’s refusal to approve revised building plans submitted by the company, citing restrictions imposed during a board meeting. Ace Infracity Developers has fulfilled its financial obligations, including paying Rs 134,37,86,891, and the court’s decision calls for the authority to address these concerns promptly.
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