Land for condo not fully given, HC allows Ace 8 yr 'zero period' waiver
The Allahabad High Court has granted Ace Infracity a 'zero period' of eight years due to the Noida Authority's failure to provide land for a housing project. The court ordered the Noida Authority not to charge any land premium or lease rent and to adjust the interest amount accordingly. The court also set aside a notice demanding Rs 79 crore from Ace for failing to start construction. Ace claimed it had not received the full land it requested and was denied waivers and extensions. The Noida Authority... Читать дальше...