The Noida Authority has sought an investigation by the Economic Offences Wing (EOW) of the Delhi Police against two real estate developers—TGB Infrastructure Private Limited and Kindle Infraheights Private Limited, for defaulting on housing land cost dues amounting to ₹471.95 crore, despite repeated notices and recovery actions.
According to officials, the move is aimed at examining whether funds collected from homebuyers were diverted by the developers instead of being used to clear statutory dues payable to the Authority. The request for an EOW probe comes amid mounting pressure on the Authority to recover long-pending land dues from defaulter realtors and protect the interests of homebuyers affected by stalled or delayed housing projects.
“We have written to the EOW in Delhi to probe these two realty firms as they have failed to pay land cost dues despite multiple notices issued to their promoters,” said Lokesh M, Chief Executive Officer of the Noida Authority. “The developers collected money from homebuyers, but the Authority’s dues remain unpaid. The objective of the probe is to establish fund diversion and enable recovery.”
Details of the two projects under scrutiny
TGB Infrastructure Private Limited was given 12750 square metres of residential land in Sector 50 by the Noida Authority on 26th December 2008. The land was designated for the creation of a housing project. Nevertheless, the officials said that the land cost dues, which have been worked out to be ₹75.59 crore up to November 30, 2025, are still left unpaid.
In a separate case, Kindle Infraheights Private Limited was allotted a significantly larger parcel—50,000 square metres of residential land—in Sector 143 along the Noida–Greater Noida Expressway on July 7, 2011. The Authority alleges that despite collecting substantial funds from homebuyers, the developer has failed to pay ₹396.36 crore in land dues.
According to the report, the authorities were very vocal in their warnings to the two developers over the years but only a handful of payments were made. Spokespersons of the two firms were invited to express their views; nevertheless, they refused to answer.
‘Last opportunity’ ignored by developers
On December 21, 2023, the Noida Authority gave a final warning to all defaulting developers. They were provided a last chance to settle their dues before the imposition of strict actions, including forceful recovery measures and criminal investigation.
Officials said the decision to seek an EOW probe was taken after these developers failed to respond meaningfully to that ultimatum. “The Authority now wants the EOW to investigate where the money collected from homebuyers has gone, adding that the probe could help establish criminal liability, if any, on the part of the promoters.
Widespread defaults in Noida’s real estate sector
The cases of TGB Infrastructure and Kindle Infraheights are part of a much larger problem confronting the Noida Authority. According to the Authority’s finance department, nearly 100 developers collectively owe around ₹34,000 crore in land cost dues.
Many of these developers have approached courts to challenge recovery proceedings or seek relief, significantly slowing down the Authority’s efforts to collect dues. Officials said that despite issuing recovery certificates, attaching properties, and initiating other coercive measures, actual recoveries have remained limited.
So far, the Noida Authority has written to the EOW seeking investigation into at least 12 other real estate projects for similar defaults. “EOW probes are being pursued in cases where there is prima facie evidence that funds collected from homebuyers were not used for the intended purpose,” an official said.
The nonpayment of land dues has gradually led to negative effects on homebuyers and the development of public infrastructure. On the one hand, a lot of projects have been delayed or are only halfway done, which means that thousands of buyers do not know their future. On the other hand, the Authority's revenues, which should be used for civic infrastructure, roads, and other public amenities, are still stuck in legal battles.
Urban policy experts believe that EOW investigations can serve as a warning against the diversion of funds and thus bring more accountability to the real estate sector. Nevertheless, they remind that criminal investigations should be accompanied by quicker court and resolution offices to have real results for homebuyers.
With the escalation of the enforcement action, the Authority will be looking for the financial recovery as well as the path of the criminal investigation against the defaulting developers, thus indicating a tougher stance against real estate violations that have been going on for a long time in Noida, officials said.
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