Tag: Elevator Properties

Latest StoriesRegulatory

Allahabad HC Dismisses GNIDA’s IT Firm Plot Review

NOIDA: The Allahabad High Court has rejected a review petition from the Greater Noida Industrial Development Authority (GNIDA) concerning a previous judgment that overturned the cancellation of an IT firm’s land allotment. The disputed 25-acre IT/ITES plot in Greater Noida’s Tech Zone II was initially allotted in October 2007 to a consortium headed by Anant Raj Industries and subsequently transferred to Elevator Properties via a lease deed on August 16, 2010. Notably, Elevator Properties Pvt Ltd is a subsidiary of Anant Raj Industries. On February 25, Justice Prakash Padia determined that the authority failed to produce any “error apparent on…

Latest StoriesRegulatory

Allahabad HC Overturns Greater Noida Plot Cancellation Order

NOIDA: In a recent legal development, the Allahabad High Court has annulled two cancellation orders from the Greater Noida Industrial Development Authority (GNIDA), emphasizing that the Authority “failed to meet deadlines and adhered to faulty procedures.” One order pertained to a significant IT/ITES project in Tech Zone II, and the other addressed a group housing project in Sector 10. The rulings, issued by Justice Prakash Padia earlier this month, reinstated allotments and provided relief to developers Elevator Properties and Kinetic Buildtech. These developers challenged GNIDA’s decisions in court, claiming the Authority’s own shortcomings hindered their projects. In the first instance,…