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 the Mall of India has been built. The land where the mall has been built was acquired by the Noida Authority, which functions under the UP government’s Industrial Development Ministry, in 2005 from previous owner and was later auctioned to DLF. A major part of the compensation to previous owner remains unpaid and the case reached the Supreme Court.
DLF is one of India's biggest property developers. The company’s primary business is development of residential, commercial and retail properties. The company has a unique business model with earnings arising from development and rentals.
