The Noida Authority is contemplating lifting the ban on the stalled Sports City project in Sector 150, which has been on hold since 2021. The project, initially awarded to Lotus Greens Constructions, was halted following a Comptroller and Auditor General (CAG) audit that questioned land allotment procedures.
This development is promising for over 10,000 homebuyers who have been left in limbo due to the project’s standstill. The project has also amassed over Rs 2,700 crore in dues to the Authority. With these financial and social stakes, the potential revival of the project is eagerly anticipated. The Noida Authority is preparing to discuss the future of the Sports City project at its upcoming board meeting. An official stated that one possible resolution could involve the introduction of a co-developer, with the Aditya Birla Group being a potential candidate. This move would be contingent on Lotus Greens meeting certain conditions, ensuring that the project progresses in alignment with regulatory requirements.
Noida Authority officials highlighted that the revised plans for the Sports City project would be reviewed in the next board meeting. These plans are expected to feature 70% of the land dedicated to world-class sports facilities. “All objections raised by the CAG have been resolved by the public accounts committee (PAC),” he said. He further emphasised that the Authority remains open to the idea of a co-developer, under the state government’s rehabilitation policy, which permits the original developer to retain land ownership while continuing the project. “This will not affect the Authority’s interests, and we will ensure our dues are paid,” he assured.
The Authority will need to reverse decisions made during the 201st board meeting in January 2021 to restart the project. These decisions were based on the CAG’s report, which had led to a halt in all sales, purchases, and flat registrations for the Sports City project. The Authority had also stopped approving any building plans until the developers fulfilled their obligations concerning the sports facilities and adhered to the scheme’s regulations. The potential revival of the Sports City project represents a significant step forward for the Noida real estate market, promising to rejuvenate development and provide much-needed housing and recreational facilities. For the many affected stakeholders, including future residents and local businesses, this development could signal a positive shift towards resolving long-standing issues and advancing urban infrastructure.
