Synopsis
As much as 79% of commercial land in Noida was allotted to only three real-estate developers during 2005 and 2018, as per CAG’s audit on Noida authority’s land-acquisition and allotment process. And just like that, once the poster boy for India’s real estate sector, Noida is in the midst of another crisis. How were the rules compromised?
On August 31, 2021, around 12pm, a Justice DY Chandrachud-led Supreme Court bench delivered a judgment that left many in shock and disbelief. The apex court upheld the Allahabad High Court’s order to demolish the 40-storey under-construction twin towers of a residential real-estate project by Noida-based developer Supertech Limited for violating building norms. The court also observed that the developer was in collusion with the city’s
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