Tag: logix

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Noida Sports City Revival Sparks New Projects Despite Land Limits

The long-awaited revival of the Sports City projects in Noida is set to unlock nearly 20 million sq ft of real estate in the area. Following a Supreme Court ruling in March, construction can now resume after nearly three years of inactivity. At least six developers have already signed joint development agreements with the original allottees. Sports City projects were conceived in four different locations across Noida. One parcel, spanning Sectors 78, 79, and 101, was given to Three C, while another in Sector 150 was allotted to the Lotus Greens Group. Logix Infra Developers also received a plot in…

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IBBI Considers Resolution Benefits for Homebuyers

NEW DELHI: The insolvency regulator has proposed easing regulations to ensure that all homebuyers affected by bankrupt real estate developers can benefit from resolution gains, including those who have not submitted claims. This initiative could potentially aid thousands of allottees nationwide. In a discussion paper, the Insolvency and Bankruptcy Board of India (IBBI) has recommended enhanced disclosures regarding stressed firms’ assets, stricter safeguards for committees of creditors lacking financial institution representation, and proper documentation for liquidation orders. “The Information Memorandum related to the stressed firm should include all allottees’ details—names, amounts owed, and allotted units—as per the corporate debtor’s records,…