Notice to housing projects: No wrongdoings, claim Logix group Noida

NOIDA: Shortly after the Noida Authority stated that it had issued notices to 11 housing tasks in Noida for diverting budget, spokesperson of Logix Group stated that no fund has been diverted from tasks and building work at each its tasks—Logix Greens and Logix Zest—is going on at complete swing. The of entirety certificates of first segment of Blossom Greens has already gained and possessions are being given. In Logix Zest, the of entirety certificates for the first segment for 1,200 apartments has already been carried out for and may be gained anytime soon.

Second segment of each the tasks can be completed this year, he stated. "We are working losses in each the tasks. We could not build up the prices of flats at the same time as the construction of the tasks improved because of worsening of sentiments.'' In this situation, there's no question of diversion of budget, he stated.

Director of Gardenia, Manoj Roy stated that whilst presenting their accounts to Currie & Brown, the company had obviously said that it had incurred losses of Rs 200 crore within the venture, Gardenia Glory in Sector 46. Roy stated regardless of losses, they have completed the venture. It has carried out for of entirety certificates which is pending because of the land dues, Roy stated. In the meeting with Currie & Brown, he stated the company introduced its long term plan to satisfy the shortfall in budget which is needed to pay the authority's dues against land. He stated the company has profits in different tasks from the place it could bring fund to satisfy the shortfall. The allegation of diversion of budget isn't proper, he stated.

Omaxe spokesperson Shravan Kumar Govil stated tasks like Omaxe Grand Woods and Omaxe Grand Courts are already completed and delivered. Their of entirety certificates also are taken from the authority. Omaxe Spa may be whole and of entirety certificates is carried out for but because of disputed quantity of dues against penal interest, it has not been issued up to now. The authority has raised interest for the period all the way through which the construction was stopped by way of National Green Tribunal, which has been challenged by way of all the developers within the region. The different venture, Omaxe Heritage, he stated, has simply been launched. Therefore, any allegation for diversion of budget isn't proper.

The different developers from 3C and Unitech could not be contacted.

Notice to housing projects: No wrongdoings, claim Logix group Noida Notice to housing projects: No wrongdoings, claim Logix group Noida Reviewed by kailash soni on February 12, 2018 Rating: 5
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