It is to be noted that located in Noida sector 18; DLF Mall of India is touted as the biggest mall of India. The Noida Authority had acquired a 7,400 sq. metre of land from Mr. Veerana Reddy in 2005, and later auctioned it to DLF; where the developer built this mall later. Mr. Reddy later raised objections over the acquisition process and claimed he was underpaid for the land parcel and went to the court.
A real estate developer has been served a notice by Noida Authority for a payment of Rs. 235 crores within a 15 days period in relation to a land acquisition case of DLF Mall of India. According to Noida authority officials, the said notice was served to the developer on December 23rd.
“We have issued a notice on December 23 to DLF for payment of Rs 235 crore to the Authority in connection with the dispute related to land to Mall of India. The developer will have to pay the desired amount within 15 days else appropriate legal actions will be taken,” a Noida Authority source said.
While the DLF’s spokesperson denied receiving any such notice from the Noida Authority. “We have not received the notice yet. Once we get it, we will review it,” a DLF Spokesperson said.
It is to be noted that located in Noida sector 18; DLF Mall of India is touted as the biggest mall of India. The Noida Authority had acquired a 7,400 sq. metre of land from Mr. Veerana Reddy in 2005, and later auctioned it to DLF; where the developer built this mall later. Mr. Reddy later raised objections over the acquisition process and claimed he was underpaid for the land parcel and went to the court.
On 5th May 2022; the apex court ordered Noida authority to pay a land compensation to the land’s previous owner Veerana Reddy at the rate of Rs 1,10,000 per square metre; with a 15% interest and an additional 3% penal interest. The amount to be paid to Mr. Reddy was calculated to be around Rs. 295 crores. Sources said that the Authority has already made the payment to Mr. Reddy and Rs 235 crore will be recovered from the developer DLF.
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