Spectrum Metro Mall to Remain a Preferred Destination for Shoppers, Only Certain Properties to be Auctioned
Noida, June 8, 2024 – Spectrum Metro Mall, located in Sector 75, Noida, will continue to be a preferred destination for shoppers. The Noida Authority has announced that it will auction only the unsold properties in the four towers of Spectrum Metro Mall to recover its dues. Properties purchased before June 5 will remain unaffected, ensuring that the operations of the mall and the shopping experience for the buyers will continue as usual.
The Noida Authority will seal only those shops and showrooms that have not yet been sold. Spectrum Metro Mall comprises four blocks – A, B, C, and D. This clarification reassures that the mall will function as it always has, allowing shoppers to enjoy their favorite shopping spot without any disruptions. Only the unsold properties and showrooms will be auctioned.
Recently, the Noida Authority ordered the attachment of properties belonging to the realty group AMX Max Gardenia (AMG) over an outstanding related to two land allotments, initiating the auction process. However, the AMG group has disputed the outstanding amount, claiming it to be approximately . The group has expressed its willingness to pay 25% of the disputed amount as per the recommendations of the Amitabh Kant Committee to facilitate the registration of flats. Currently, the Noida Authority will only review the accounts of both parties, and no action will be taken against any buyers.
An official from Spectrum Metro stated that they have not received any orders regarding the Noida Authority’s actions. Spectrum Metro Mall, one of the preferred malls in Sector 75, Noida, attracts a significant number of shoppers, especially on weekends. Its excellent connectivity to the National Capital Region further enhances its appeal.
