Greater Noida: The Uttar Pradesh State Industrial Development Authority (UPSIDC) has taken strict action against Shivalik Homes Society, sealing 10 unsold flats in the industrial sector Site-C on Wednesday. The action comes as the builder, Cosmos Infrastate, has failed to pay ₹1.8 crore owed to UPSIDC despite repeated notices and an earlier RC (Recovery Certificate) issued against them.
Currently, over 400 buyers of the society are unable to obtain ownership rights due to the builder’s non-compliance.
UPSIDC Confirms Action
Regional Manager Anil Kumar Sharma stated that the Shivalik Homes project by Cosmos Infrastate in Industrial Sector Site-C has been delayed because of pending dues of ₹1.8 crore. Due to this, the flats cannot be registered, causing significant inconvenience to buyers.
Despite multiple reminders and notices, the builder has neither cleared the dues nor applied for the occupancy certificate, further aggravating the situation.
Buyers Bear the Brunt
Several months ago, an RC was issued against the builder, but Cosmos Infrastate failed to deposit the payment. As a result of the builder’s negligence, the flat buyers are facing continued uncertainty. UPSIDC’s sealing of 10 flats is a warning, and further action will be taken if the outstanding dues remain unpaid.
The authority’s decisive move aims to protect the interests of buyers and ensure accountability in real estate projects under its jurisdiction.
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