An audit of 14 housing projects in Noida, concluded by the international firm M/s Currie and Brown found that amount worth Rs. 4000 crore were being allegedly diverted by builders of 11 housing projects to which the Noida Authority has now issued a notice. The amount was meant for completing the residential flats booked by thousands of homebuyers in the city. As specified by the Authority, the range of diversion in each separate case is from Rs. 150 to Rs. 500 Crore. The number of housing units in the 14 projects audited is nearly 36,000 and most of the buyers are aggrieved by the delay in handing over possession of their booked flats. There was difference noted in the amount collected from the buyers and what is spent on the construction of these housing projects, thus the notice has been issued to these builders asking for an explanation for this difference and the amount they have spent on the construction work within next seven days.

In addition to this these builders has also failed to clear the land dues owed to the Authority which amounts to more than Rs. 7,000 Crore. There will be an audit of 37 more projects which involves 37,000 housing units in Noida. This diversion has created third party rights because of which it has become social responsibility of the builders to bring the money back.