Greenbay Infrastructure Pvt Ltd is on thin ice as YEIDA has issued a final notice, threatening to cancel its 100-acre township in Sector 22D, Greater Noida, if outstanding dues of ₹117 crore aren’t cleared by June 30.

Despite making a part-payment, the firm missed its January 15 and revised April 15 deadlines, still owing ₹101.90 crore in instalments and ₹7.59 crore in lease rent, confirmed YEIDA CEO Arun Vir Singh.

Under the stalled projects policy (Dec 21, 2023), Greenbay was to pay 25% of recalculated dues (₹110.29 crore of ₹441.17 crore total) by April 28. Though they requested a revised calculation with 10% interest and lease rent inclusion (₹2.4 crore pending since 2021), the developer has yet to clear payments in full.

In a bid to raise funds, Greenbay sought permission in April to sublease a 4,330 sqm commercial plot — a request YEIDA denied, citing that subleasing applies only to residential buyers.

The developer responded saying delays in land possession and commercial registry restrictions have impacted cash flow. “We’ve paid ₹154 crore so far and are requesting permission for commercial sublease to meet obligations,” said a company spokesperson.

⚠️ With the June 30 deadline fast approaching, the project’s future now hangs in the balance.

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