Tag: Delhi One project

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HC Approves Noida Layouts, Resumes Delhi One Work After 10 Years

NOIDA: After nearly ten years of halted construction and growing concerns among numerous homebuyers, the Allahabad High Court has removed a significant barrier to reviving the Delhi One project in Sector 16B. A division bench comprising Justices Mahesh Chandra Tripathi and Anish Kumar Gupta instructed the Noida Authority on September 15 to approve the building plans for Max Estates Limited, contingent upon the company depositing 50% of the disputed ₹67 crore in change in constitution and shareholding charges (CIC/CIS) within a week. The court also directed the Authority against taking any coercive actions during this timeframe. This ruling represents a…

Latest StoriesRegulatory

Noida Authority Denies Max Estates’ ₹67 Crore Waiver Request

AI-generated Representative Image NOIDA: The Noida Authority has denied a request from Max Estates Ltd to eliminate constitution change charges (CIC) amounting to approximately Rs 67 crore related to the acquisition of the halted Delhi One project in Sector 16B. These charges arise from a comprehensive shareholding shift due to insolvency proceedings and are part of the Authority’s updated unified policy announced in February. Initially, Max sought a total waiver of the CIC but later revised its proposal to pay Rs 22 crore—around 40% of the assessed fees—into an interest-bearing account under certain conditions. The Authority, however, maintained that the…