NOIDA: A day after sealing 16 properties, Noida Authority on Tuesday said it will recover lost revenue from defaulting allottees who had been earning between Rs 40,000 to Rs 80,000 per month from these shops located in prime city markets.

The allottees of commercial properties owe about Rs 200 crores to the Authority. The shops had been allotted in 2000. In most cases, the defaulters paid only a few installments. Authority sources said that few of the allottees were running or renting the shops in connivance with few officials.

This is the first time that the Authority has sealed properties and taken possession back from owners.

http://timesofindia.indiatimes.com/city/noida/Crackdown-on-shop-allottees/articleshow/25662906.cms