Mall Of India News: A senior official said the Noida Authority has issued a notice to real estate developer DLF to pay Rs 235 crore as compensation to the previous owner of the land on which Mall of India is built. However, DLF said it is yet to receive the communication.
The development comes in the backdrop of a Supreme Court order on May 5 in which it directed the Noida Authority to ensure payment of compensation for the land to its previous owner, Veerana Reddy.
Confirming the issuance of the notice, Noida Authority CEO Ritu Maheshwari told PTI. Another senior official told PTI that the notice was issued to DLF on December 23 and the amount has to be returned in 15 days.
When contacted, a DLF spokesperson said in a statement, “We have not received any notice. Once we receive it, we will review it.”
DLF Mall of India is located in Sector 18, the commercial hub of Noida. The land on which the mall is built was acquired from Reddy in 2005 by the Noida Authority, which functions under the Ministry of Industrial Development of the UP government, and was later auctioned to DLF.
According to an official, Reddy is owed a major part of the compensation and the matter has reached the Supreme Court.