HC: State can’t limit zero-period relief after land delay
NOIDA: The Allahabad High Court has affirmed that ‘zero-period’ waivers for real estate developers should be granted in full for delivery delays beyond their control. In a ruling dated July 25, the court annulled a Greater Noida Authority decision that denied the zero-period benefit to developer Empire E-Parks. The judgment mandates that the development authority provide the developer with a zero-period waiver on interest and penal interest accrued over the 18 years that construction was halted, due to the developer’s inability to take possession of the designated land. This decision, echoing a previous case involving Gaurasons India Ltd, could significantly…