Noida Authority Takes Action Against Developers Over ₹363 Crore in Unpaid Dues
The Noida Authority has taken legal action against two real estate developers for failing to clear their outstanding financial dues. Antriksh Developers and Promoters, the builder behind Antriksh Golf View I in Sector 78, owes ₹273 crore, while GS Promoters is yet to pay ₹90 crore. Both developers have faced multiple notices and opportunities to settle their dues under the Uttar Pradesh government’s rehabilitation policy, but have failed to make the necessary payments.
Lokesh M, the Chief Executive Officer of Noida Authority, confirmed that appropriate legal steps have been taken against financial defaulters. In the case of Antriksh Developers, the company failed to clear its dues despite multiple reminders. As a result, the Noida Authority issued a recovery certificate, instructing the Gautam Budh Nagar district administration to treat the dues as land revenue and initiate recovery proceedings. To maintain transparency, a public notice was displayed at the society’s entrance in May 2024, informing residents about the outstanding payments. The matter has also been referred to the Economic Offences Wing (EOW) for further investigation and action against the developer.
In another case, the Noida Authority found that the notice board displaying GS Promoters' dues had been tampered with. The notice, which was posted at the entrance of Sikka Karmic Greens in May 2024, had been erased with black ink during an inspection on April 2, 2025. As a result, the Noida Authority has asked the police to register an FIR against GS Promoters for tampering with the public notice.
GS Promoters owes ₹90 crore, according to authority records from December 2023. The company had an opportunity to reduce this amount to ₹73 crore under the stalled project rehabilitation policy introduced in December 2023. However, despite agreeing to participate in the scheme, GS Promoters only deposited ₹58 lakh, which is significantly less than the required 25% upfront payment of ₹18 crore. The developer has filed a revision petition, which is currently pending before the state government.
The issue of unpaid dues is widespread in Noida, with 57 housing projects failing to meet their financial obligations. Under the rehabilitation policy introduced in December 2023, several developers were given relief, including a two-year waiver from paying interest and penalties for the pandemic period. Developers who made an upfront payment of 25% of their revised dues qualified for this relief. As of now, six developers have had their dues fully waived, 27 developers have paid the required 25%, and 14 others have made partial payments.
The Noida Authority has made it clear that it will continue to pursue legal action against developers who fail to fulfill their financial commitments. The ongoing issue with developers failing to pay their dues highlights the challenges faced by the real estate sector in Noida, where the authorities are taking steps to ensure that developers meet their obligations.
The UP government's rehabilitation policy, introduced in December 2023, was aimed at providing concessions to developers struggling with financial burdens. Under the policy, developers were given the option to reduce their dues by depositing 25% of the revised amount within two months of agreeing to the deal. The policy also provided relief to projects under insolvency, allowing developers to withdraw cases against them. Despite these concessions, the failure of some developers to make payments has led to further action from the Noida Authority, as it continues to address the issue of financial defaults in the region.
