CAG draws Noida Authority’s attention for group housing project issues
Real Estate

CAG draws Noida Authority’s attention for group housing project issues

The Comptroller and Auditor General of India (CAG) has chastised Noida Authority for several issues relating to group housing projects it allocated between 2005-06 and 2017-18, claiming that 63% of the projects are either incomplete or partially completed.

The CAG accused the authority of failing to have a policy framework for property costing, having an excessive allowance of Floor Area Ratio (FAR) resulting in a lower reserve price fixation, miscategorization of sectors, and failing to include costs, among other things.

Noida allotted 67 group housing plots totalling 7.1 million sq m during the audit period, which were subdivided into 113 plots by the allottees. 71 of the 113 projects were either unfinished or only partially completed.

The CAG is the statutory auditor of government-owned corporations and performs supplementary audits on government companies in which the government owns at least 51% of the equity or subsidiaries of existing government companies.

The CAG is also the head of the Indian Audit and Accounts Department, which employs 43,576 people across the country and is run by officers of the Indian Audit and Accounts Service.

Noida, which was established under the Uttar Pradesh Industrial Area Development Act of 1976, has evolved into a planned, integrated, modern industrial city that is well connected to Delhi via a network of roads, national highways, and the ultra-modern DND flyover, providing inter-road connectivity to all parts of the country.

With its unique infrastructure providing numerous, unrivalled facilities, Noida offers a pollution free high standard of living and highly supportive industrial environment over an area of 20,316 hectares, with many sectors fully developed.

Image Source

The Comptroller and Auditor General of India (CAG) has chastised Noida Authority for several issues relating to group housing projects it allocated between 2005-06 and 2017-18, claiming that 63% of the projects are either incomplete or partially completed. The CAG accused the authority of failing to have a policy framework for property costing, having an excessive allowance of Floor Area Ratio (FAR) resulting in a lower reserve price fixation, miscategorization of sectors, and failing to include costs, among other things. Noida allotted 67 group housing plots totalling 7.1 million sq m during the audit period, which were subdivided into 113 plots by the allottees. 71 of the 113 projects were either unfinished or only partially completed. The CAG is the statutory auditor of government-owned corporations and performs supplementary audits on government companies in which the government owns at least 51% of the equity or subsidiaries of existing government companies. The CAG is also the head of the Indian Audit and Accounts Department, which employs 43,576 people across the country and is run by officers of the Indian Audit and Accounts Service. Noida, which was established under the Uttar Pradesh Industrial Area Development Act of 1976, has evolved into a planned, integrated, modern industrial city that is well connected to Delhi via a network of roads, national highways, and the ultra-modern DND flyover, providing inter-road connectivity to all parts of the country. With its unique infrastructure providing numerous, unrivalled facilities, Noida offers a pollution free high standard of living and highly supportive industrial environment over an area of 20,316 hectares, with many sectors fully developed. Image Source

Next Story
Real Estate

Rethinking Slum Development

In July 2024, the Supreme Court directed the Bombay High Court to initiate suo motu proceedings to evaluate the implementation of the Maharashtra Slum Area (Improvement, Clearance and Redevelopment) Act.During the ensuing proceedings, the Division Bench of Justices expressed concern about the plight of slum dwellers, saying, “Merely because you are a slum dweller doesn’t mean that you are left to the discretion of developers. They end up with a pittance.” The Bench also noted that the buildings allocated to slum dwellers were akin to “vertical slums”. “The buildings are congested. ..

Next Story
Real Estate

Ring in the New!

Lighting:OLED (organic light emitting diode) panels such as those by Philips are the latest option in soft lighting fixtures that can be embedded into walls, ceilings or furniture, says Nilesh Sawant, Principal Architect, Nilesh Sawant Architect. “Being thin and flexible, they lend themselves well to different applications while delivering the energy-efficiency associated with LED technology.”And Sapna Aggarwal, Founder, ANSA Architecture & Interiors, says “Embedded light-emitting diodes can create a dreamy illumination, while dimmable LEDs are useful for allowing..

Next Story
Infrastructure Urban

Jhansi Library

The Jhansi Library, commissioned by the Jhansi Development Authority (JDA) under the Jhansi Smart City initiative and built by Bootes Impex, a net-zero construction-tech company. It is the first library in Asia to achieve EDGE (Excellence in Design for Greater Efficiencies) certification from the International Finance Corporation (IFC), a member of the World Bank Group. This milestone marks the library as India’s first and only net-zero library, aligning  with India’s Net-Zero Vision 2070.Sustainable designDeepak Rai, Managing Director, Bootes Impex, explains, “The project's vision ..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000