Well popular land deal, BPTP, might be in trouble. According to top officials in the Noida administration as well as the real estate industry, the Delhi-based real estate firm BPTP is finding it extremely difficult to raise funds for buying the land. BPTP was no able to pay the first installment on time, so company has requested the Noida authority to grant two month extension for paying twelve hundred fifty crore rupees. For this extension, they have to pay penalty. The penalty clause behind this extension is that the realtor will have to pay a fine to avail of this extension.
A senior official of Noida Authority said that BPTP had requested for additional time and Noida authority has extended the time from one month to three months to pay the required amount.
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