Tag: Greater Noida

CommercialLatest Stories

Greater Noida unveils ₹3,600-crore commercial plot scheme

Representative AI image NOIDA: The Greater Noida Industrial Development Authority (GNIDA) has unveiled one of its largest commercial land schemes in recent years. The initiative features 37 plots across key sectors with a total reserve price of Rs 3,604 crore. All allocations will be done through e-auction, with dates to be announced later. The plots, governed by FAR 4 and FAR 2 regulations, are designated for commercial complexes, retail centers, offices, and mixed-use developments. GNIDA indicates that FAR-4 plots can host malls, showrooms, hotels, offices, and banquet halls, while FAR-2 plots are suitable for retail shops, service outlets, restaurants, and…

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

UP Minister: Noida Flat Registry Can Proceed After NOC

LUCKNOW: Uttar Pradesh Minister Ravindra Jaiswal has stated that delays in property registration in Noida and Greater Noida are due to disputes between builders and local development authorities regarding no-objection certificates (NOCs), clarifying that his department has no involvement in this stalemate. In an interview with PTI in Lucknow, the Minister of State (Independent Charge) for Stamp and Court Fee, Registration, explained that registrations for homebuyers are processed promptly once an NOC is provided by the Noida, Greater Noida, or Yamuna Expressway industrial development authorities. “In Gautam Buddh Nagar, three local development authorities are responsible for allocating land to builders…

CommercialLatest Stories

Greater Noida Plans to Double FAR to Draw Companies

NOIDA: The Greater Noida Industrial Development Authority (GNIDA) has proposed changes to its Building Regulations from 2010, specifically aiming to revise the floor area ratio (FAR) for plots designated for IT, IT-enabled services (ITES), and Biotech Parks. The proposal to increase the FAR from 2 to 4 has been submitted to the state government for approval. According to Additional CEO Prerna Singh, both current allottees and prospective companies have expressed the need for a higher FAR. Representatives from IT and ITES sectors argue that the existing FAR of 2 does not suffice, given the area’s rapid development into a hub…

IndustryLatest Stories

Uttar Pradesh Creates Panel to Resolve Land Issues for Industry

Representative image created by AI NOIDA: The Uttar Pradesh government has established a high-level committee to devise a strategy for the effective utilization of land designated for industrial and urban development under the jurisdictions of Noida, Greater Noida, and the Yamuna Expressway Authority. This decision comes after a presentation by the state’s industrial promotion agency, Invest UP, which highlighted significant discrepancies between land that has been notified, those included in master plans, and what has actually been acquired for development. According to the findings, over four lakh hectares have been earmarked for industrial and urban growth in the area. However,…

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…

Latest StoriesRegulatory

CAG Criticizes Greater Noida for Farmhouses on Hindon Floodplain

File Photo NOIDA: The Greater Noida Industrial Development Authority (GNIDA) is facing criticism from the Comptroller and Auditor General (CAG) for permitting construction on the Hindon floodplain, which is designated for natural conservation. The CAG audit revealed that rather than protecting these vital green areas, GNIDA has facilitated the development of farmhouse plots in restricted zones, leading to serious environmental and regulatory violations. In 2011, GNIDA initiated the ‘Institutional Farmhouses’ scheme, followed by the ‘Krishi Farmhouses’ scheme in 2015, both contravening established regulations. These initiatives, intended for temporary structures, evolved into permanent homes, businesses, and even polluting workshops. In Haibatpur…

Latest StoriesRegulatory

GNIDA’s Plots to Unqualified Realtors Threaten Buyer Safety: CAG

NOIDA: An audit conducted by the Comptroller & Auditor General (CAG) has uncovered significant irregularities and policy violations by the Greater Noida Industrial Development Authority (GNIDA) in the allotment of group housing and builder plots from 2005-06 to 2017-18. The audit report, released on Wednesday—coinciding with the Supreme Court’s directive to the UP government to consider transforming the Noida Authority into a metropolitan council for improved fairness and transparency—highlights lapses over the years that have contributed to the ongoing real estate crisis in Noida’s twin city. Thousands of flats are considerably delayed, while registries are held up due to skyrocketing…

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…