Gaursons to Mortgage Mall for ₹315 Crore to Clear Flat Dues
NOIDA: The Greater Noida Industrial Development Authority (GNIDA) has provisionally approved a proposal from Gaursons Group to mortgage part of its Gaur City Mall in Greater Noida West. This mortgage will serve as security for additional compensation dues owed to farmers, facilitating the execution of about 2,100 long-awaited sub-lease deeds in three housing projects by the developer. This decision aims to relieve residents who have taken possession of their flats but have not yet secured legal ownership. Without these sub-lease deeds, residents are caught in legal uncertainty, despite having fully paid for and occupied their flats in the three projects.…