India, June 22 -- The Greater Noida Authority on Sunday decided to issue Recovery Certificates - an official legal order - to 14 real estate developers to recover Rs.315.5 crore in land dues.

The move will help 8,856 homebuyers who are waiting for the registration of flats and their possession, which are on hold due to non-clearance of dues.

The defaulters had failed to even take the benefits of the Amitabh Kant Committee, which recommended waiving interest on dues if the realtor agrees to clear them.

"Even after the committee's recommendations, 14 builders did not come forward to pay the dues or find a way out within the framework of the committee. They failed to deposit the authority's dues. The District Magistrate has ordered the is...