Tag: Ghaziabad

IndustryLatest Stories

Ghaziabad Body Lowers Interest Rates on Properties

GHAZIABAD: The Ghaziabad Development Authority (GDA) has reduced the interest rate on its properties from 10.7% to 8.7%, aligning it with the State Bank of India’s current rate as mandated by the state government. The rates will be subject to change in tandem with SBI’s adjustments. If SBI alters its interest rates, the GDA will likewise make necessary changes. This rate had been unchanged at 10.7% for the past seven years (since 2018). “Discussions regarding the interest rates charged by development authorities across the state were held, where it was emphasized that rates should be aligned with SBI. Why impose…

Latest StoriesRegulatory

Ghaziabad Body Raises ₹194 Crore from Property Sales

GHAZIABAD: In its first auction of the year, the GDA generated Rs 194 crore from property sales. In Madhuban Bapudham (MBD), Pocket A, three land parcels of 2,382 sqm each were sold at Rs 66,500/sqm, Rs 67,100/sqm, and Rs 67,300/sqm, surpassing the base price of Rs 52,500/sqm. This collectively brought in Rs 47 crore for the GDA. Additionally, another land parcel of 8,875 sqm in MBD, reserved at Rs 52,500/sqm, was auctioned for Rs 53,200/sqm, contributing another Rs 47 crore. An 8,355 sqm land parcel sold for Rs 53,000/sqm against the same base price, adding Rs 44 crore to the…

InfrastructureLatest Stories

Ghaziabad: Illegal Colonies Demolished on 13 Hectares of Floodplain

GHAZIABAD: The Ghaziabad administration conducted a significant demolition operation in Loni tehsil on Thursday, targeting illegal land occupancy and unauthorized colonies. District Magistrate Ravindra Kumar Mandar instructed all tehsils to establish task forces to tackle the land mafia. According to officials, illegal constructions spread over approximately 13.5 hectares were dismantled. Officials reported that these constructions were unauthorized and breached land-use regulations, including developments in the river’s floodplain area. Deepak Singhanwal, the Sub-Divisional Magistrate (SDM) of Loni, noted that illegal plotting occurred on the Yamuna floodplains, where offenders erected boundary walls and initiated unauthorized constructions by installing pillars. “It is common…

Latest StoriesResidential

Home Buying in Ghaziabad Gets Costlier with Development Fee Hike

GHAZIABAD: The UP government has increased the development fee in Ghaziabad by more than 66%, marking the highest rise compared to other districts. This increase primarily targets developers, yet it is likely to affect homebuyers as well, leading to higher prices for plots and flats across the district. The revised rates are included in the UP-amended Urban Planning and Development (Assessment, Levy and Collection of Development Fee) rules and will officially take effect pending approval from the Ghaziabad Development Board. GDA assistant engineer Rudresh Shukla stated that the development fee has been raised from Rs 2,500/sqm to Rs 4,170/sqm. “Compared…

Latest StoriesResidential

Uttar Pradesh to Discount 10,000 Unsold Ghaziabad Flats by 25%

GHAZIABAD: The Uttar Pradesh government plans to offer discounts of up to 25% to clear a stockpile of nearly 10,000 unsold flats developed by the Ghaziabad Development Authority (GDA) and the UP Housing Board in the city. This initiative is part of the Model Costing Guidelines Basic Principles 2025, aimed at resolving the inventory of unsold flats and plots while standardizing pricing across various development authorities and housing boards. GDA currently has 1,748 unsold flats across five housing schemes. In addition, the housing board has approximately 8,000 unsold units in Ghaziabad, with around 4,000 in the Ganga Yamuna and Hindon…

InfrastructureLatest Stories

GDA to Pay ₹45 Crore to GMC for Swarn Jyantipuram Handover

GHAZIABAD: The Ghaziabad Development Authority (GDA) has initiated the transfer of Swarn Jyantipuram to the Ghaziabad Municipal Corporation (GMC), ending a decades-long wait. According to the initial agreement, GDA will allocate Rs 45 crore to the GMC to facilitate the completion of outstanding infrastructure projects in the township. The funds are earmarked for enhancing roads, sewer systems, and the water supply network. Launched in 1998, Swarn Jyantipuram has been one of Ghaziabad’s longstanding housing projects, pending transfer to the municipal corporation. Despite its establishment over twenty years ago, the handover has been delayed due to prolonged legal disputes and disagreements…

Latest StoriesRegulatory

NGT Orders Gaursons Office Attachment, Criminal Action on MD

NOIDA: The National Green Tribunal (NGT) has expressed strong discontent regarding non-compliance with its previous orders, instructing the Ghaziabad district magistrate to initiate a warrant of attachment against Gaursons Promoters Private Limited’s headquarters and submit a compliance report within four weeks. The tribunal also mandated that a designated officer from the central or state government file a criminal complaint against the developer’s managing director under Section 30 of the NGT Act, which pertains to penalties for environmental non-compliance. The principal bench comprising judicial member Justice Arun Kumar Tyagi and expert member Dr. Afroz Ahmad issued these directions after reviewing a…

Latest StoriesResidential

Registration Opens for LIG & EWS Flats in Ghaziabad

GHAZIABAD: The Ghaziabad Development Authority (GDA) has launched an online service aimed at facilitating the registration process for low-income group (LIG) and economically weaker section (EWS) housing. Private developers can submit the required details online from December 15 until January 15, 2025. A GDA official mentioned that a six-member committee has been established to address delays in the construction and allotment of units under these schemes. To date, one developer has successfully registered 1,493 units under both the EWS and PMAY schemes using the online service. “We anticipate that more developers will come forward to utilize this service. Those who…

IndustryLatest Stories

Panel formed to investigate EWS, LIG flat delays in Ghaziabad

GHAZIABAD: A six-member committee has been established to investigate delays in allotting residential units in the EWS and LIG categories by private developers. This action comes in response to complaints regarding developers’ procrastination in handing over possession to beneficiaries. “It is mandatory for group housing developers to allocate 10% of total flats for the EWS and another 10% for the LIG category. We have been instructed to compile reports on the number of flats constructed by developers in these categories as well as those that remain undelivered,” an official from GDA stated. “The committee will produce a detailed zone-wise report…

IndustryLatest Stories

Ghaziabad body granted power to alter land use for townships

Representative AI image GHAZIABAD: The GDA Board now holds the authority to change land use from agricultural to residential for townships developed under the CM Urban Expansion New City Promotion Scheme, a power that was previously with the state government. This modification will enable the GDA to address delays or disputes related to land-use issues in its projects, particularly in the Harnandipuram township, where over 80% of the 501 hectares proposed for acquisition is currently agricultural land. “Change of land use (CLU) is a long and complex process requiring state government approval, which can take months. In 2023, the state…