Tag: Greater Noida Industrial Development Authority

IndustryLatest Stories

Greater Noida to Target Builders for Unpaid Rehab Dues

Representative AI image NOIDA: The Greater Noida Industrial Development Authority (GNIDA) has appointed Currie and Brown to evaluate builders who have defaulted as it begins to revoke benefits from those violating the stalled-project policy. This initiative aims to revitalize halted real estate projects, with ₹1,382 crore recovered from the total dues of ₹4,749 crore. So far, 17,334 housing units have been registered despite ongoing challenges. Recently, the GNIDA board decided that all benefits under the state’s stalled-project policy will be withdrawn from developers who have neither settled their dues nor engaged with the scheme. Of the 98 projects identified for…

Latest StoriesRegulatory

SC orders probe into stalled Greater Noida housing project

NEW DELHI: In a pivotal decision, the Supreme Court on Friday established a one-member committee led by former Allahabad High Court judge Pankaj Naqvi to conduct a thorough inquiry and propose a practical roadmap for a stalled housing project in Greater Noida, Uttar Pradesh. The court ordered an independent probe into a long-standing housing dispute involving the Golf Course Sahkari Awas Samiti (formerly JP Greens Employees Sahkari Awas Samiti) and the Greater Noida Industrial Development Authority (GNIDA). This conflict has impacted hundreds of homebuyers who have been waiting for possession of their apartments for almost two decades. “The evidence clearly…

IndustryLatest Stories

Partial OCs for Greater Noida Projects with 25% Advance

NOIDA: The Greater Noida Industrial Development Authority (GNIDA) has opted to issue partial occupancy and completion certificates to developers who have made advance payments in line with the UP government’s rehabilitation policy for stalled projects. This decision, announced on Tuesday, aims to provide immediate relief to countless buyers awaiting their flats for years and to developers grappling with project completion due to financial and bureaucratic obstacles. According to the new order, developers who have paid at least 25% of their recalculated dues—considering the two-year grace period granted during the Covid pandemic—and have made additional payments towards the remaining 75%, will…

Latest StoriesResidential

Greater Noida Authority Fines Builder for Dirty Water Tank

NOIDA: The Greater Noida Industrial Development Authority (GNIDA) has collected water samples from the SKA Divya Towers Society in Sector 16, Greater Noida West, following reports from residents about illnesses due to suspected water contamination. On Wednesday, health department teams visited the society to carry out checks and set up a medical camp, as several residents reported stomach ailments, vomiting, and fever. However, only a small number attended the examinations, with only 16 residents showing up. “Our inspection team found few patients at the camp. We have documented the complaints and will take further actions based on the water testing…

Latest StoriesResidential

Greater Noida Authority Lets Buyers’ Group Complete Sampada Livia

NOIDA: The Greater Noida Industrial Development Authority (GNIDA) board has given in-principle approval to prolong map validity and grant permission to mortgage (PTM) to the SLB Welfare Association. This buyers’ group is now steering the long-delayed Sampada Livia housing project in Sector Chi-5, which has been stalled for a decade. This decision, made under the Legacy Stalled Real Estate Projects Policy introduced by the UP government in December 2023, offers crucial institutional support to a homebuyers’ association struggling with legal, financial, and regulatory challenges to complete their homes. It will allow financial institutions to provide loans to buyers and help…

IndustryLatest Stories

GNIDA Issues Partial OCs for Builders Paying 25% Dues

NOIDA: The Greater Noida Industrial Development Authority (GNIDA) has authorized partial occupancy certificates for various stalled housing projects under the UP government’s rehabilitation policy, following the Kant committee’s recommendations aimed at reviving stalled real estate developments. So far, developers of 37 out of 98 halted projects in Greater Noida have paid 25% of their total dues, the minimum requirement to qualify for policy benefits, which include debt rescheduling and a waiver for defaults during the Covid pandemic. Under this new policy, developers who have made partial payments will receive occupancy and completion certificates (OCs/CCs) proportional to their payments, enabling the…

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,…