In 2016, the Akhilesh-led government had come up with a project settlement policy (PSP) to address multiple issues regarding the delayed realty projects in the areas. Afterwards, owners of 60 housing projects in Noida and Greater Noida had applied for settlement. Unitech has decided to surrender 219 acres out of 466 acres that it was allotted for three housing projects in Noida. The plots were allotted to the company in Sectors 96, 97, 98, 113, and 117 in 2006-07, for housing projects worth Rs 2,500 crore. In Noida, 50 projects have been delayed while the number of under-construction realty projects in Greater Noida is 95.

Source: dna May 17, 2017 01:30 UTC