Rs 12 cr paid in dues, GMADA withdraws notice to Beverly Golf Avenue, Mohali

Gaurav Kanthwal

Mohali, May 4

Less than a month after the Greater Mohali Area Development Authority (GMADA) cancelled the site allotment of two major real estate firms for default in payment on April 13, the authority has withdrawn the notice slapped on Beverly Golf Avenue as the promoters have coughed up part of the due amount.

“M/S MB Infra Build Private Ltd, the promoters of Beverly Golf Avenue, Sector 65, has paid around Rs 12 crore, a sizeable chunk of the due amount so far, to GMADA after the hearing of appellate authority. The notice of cancellation of allotment site has been withdrawn. The promoters have given an assurance to abide by the terms and conditions in future,” said Estate Officer (Housing) Amrinder Tiwana.

The representatives of the promoters said a GMADA notice board put up outside the project site cautioning public not to purchase any property in the project had also been removed. The development has allayed the anxiety among the existing buyers and investors to some extent.

The promoters of World Trade Center (WTC) Chandigarh in Aerocity say they have filed an appeal and met GMADA officials on May 2. The next meeting is scheduled for May 19.

In 2015, MB Infra Build Pvt Ltd had bought 7.123 acres in Sector 65 in an auction for Rs 133.19 crore. It deposited 20% of the bid amount and later defaulted on payment.

Same year, WTC Noida, WTC Chandigarh and Erika Fracon India bought eight acres on the Aerocity road for Rs 131.33 crore. It also defaulted on payment after some years.

The owner of Beverly Golf Avenue owed GMADA Rs 80 crore as on April 13, while WTC Chandigarh owed Rs 103 crore to the authority.