Tag: Noida

IndustryLatest Stories

Nimbus Projects Gains ₹1,100 Crore Potential from UP Order

The Uttar Pradesh Industrial Development Authority (UPIDA) has instructed the Yamuna Authority to amend the land allotment for Nimbus Projects, granting an additional 1.1 million sq. ft. with a development potential valued at ₹1,100 crore. Following the company’s revision petition, the Principal Secretary of the Industrial Development Department, Uttar Pradesh Government, has directed the Yamuna Expressway Industrial Development Authority to reassess the land allocation, considering the interest previously paid by Nimbus. The revision petition was initiated after the company surrendered 55,219.178 sq. m. of a total of 102,995.70 sq. m. under the Project Settlement Policy (PSP). The Principal Secretary’s order,…

IndustryLatest Stories

M3M India to Invest ₹2,100 Crore in Noida’s Jacob & Co. Residences

NEW DELHI: M3M India has announced a ₹2,100 crore investment to develop the Jacob & Co. Residences in Noida. The project will be situated on six acres in Noida’s central business district and is expected to generate a topline of around ₹3,500 crore. This development marks the entry of the Jacob & Co. branded residential concept into India. The company aims to complete the project within three years. The development will be implemented in two phases: the first phase will feature 150 branded residences, while the second phase will include approximately 100 ultra-luxury serviced residences. Apartments will be available in…

InfrastructureLatest Stories

Noida Residents Rely on Private Tankers for Water Supply

NOIDA: Residents of Antriksh Golf View 2 in Noida’s Sector 78 have been facing severe water shortages for the past three months, heavily relying on private tankers to satisfy their daily requirements. The issue arose from the developer’s inability to secure sufficient water connections from the Noida Authority, causing a supply deficit across the 1,055 flats in the 12 residential towers. Residents report that while the developer has been sourcing private tankers to fill the supply gap, they have been passing the costs onto homeowners via inflated maintenance bills. Recently, around 400 flat owners received texts from the developer demanding…

Latest StoriesResidential

Noida Sports City Dues Exceed ₹11,000 Crore; 30% Recovered

NOIDA: Over 15 years after the initiation of the Sports City projects, residential towers have emerged across sectors 78, 79, 150, and 152. However, the promised stadiums, tracks, and sports fields remain largely unrealized. The primary issue is a massive financial discrepancy—the developers owe Noida Authority a staggering Rs 11,642 crore, yet only Rs 319 crore has been recovered to date, despite numerous court orders and high-profile investigations. The Sports City initiative was launched during the Commonwealth Games in 2010, aiming to create integrated townships that combined world-class sports facilities with residential and commercial areas. Developers were given large portions…

InfrastructureLatest Stories

UP CM Unveils Urban Revitalization Plan for Cities

LUCKNOW: Chief Minister Yogi Adityanath announced on Tuesday that Uttar Pradesh will implement a new urban redevelopment policy aimed at revitalizing cities, reorganizing land, and attracting private investment, all while protecting the livelihoods of families impacted by these changes. The policy will focus on upgrading outdated structures and neglected areas with modern urban infrastructure and ample public amenities, as stated by the UP government. Adityanath emphasized that the urban redevelopment initiative seeks to rejuvenate cities holistically across the state. While addressing a Housing Department meeting, he stated, “Our cities are not just collections of buildings; they are vibrant social entities.”…

IndustryLatest Stories

Noida Authority Installs Notices on Housing Projects for Dues

NOIDA: The Noida Authority has begun placing boards outside housing projects where promoters have not cleared significant land dues and have not applied for the government’s rehabilitation scheme. Images of these boards are being shared on the Authority’s website as part of a strategy aimed at resolving issues with certain builders. The initial board has been set up outside Lotus Panache, a project by Granite Gate Properties currently under insolvency proceedings at the National Company Law Tribunal (NCLT). This initiative has faced strong opposition from residents who argue it breaches the moratorium imposed during the corporate insolvency resolution process (CIRP)…

InfrastructureLatest Stories

Noida Residents Protest Concrete Plant Blocking Road

NOIDA: Residents of Jaypee Greens Kensington Park Apartments in Sector 133 have been protesting against a nearby ready-mix concrete (RMC) plant. They claim the plant, set up by Jaypee Infratech Limited, poses health risks. Additionally, they assert that it lacks approval from relevant authorities, including the pollution department and Noida Authority, and has obstructed the two-way road in front of their complex. Vinay Dwivedi, a resident, expressed, “The establishment of this RMC plant has led to increased pollution in our area, adversely affecting residents’ health. Despite multiple requests to the Noida Authority, we have not received any response or action…

Latest StoriesRegulatory

HC rejects UP govt’s order to cancel builder’s ‘zero-period’ waiver

NOIDA: The Allahabad High Court has overturned a state government order that withdrew a lease rent waiver granted to a realtor under the “zero period” policy. On October 8, Justice Subhash Vidyarthi from the Lucknow bench invalidated the January 9, 2024 directive from the Infrastructure and Industrial Development Commissioner (IIDC). This directive had rescinded the lease rent waiver initially granted to Express Builders and Promoters. This ruling follows two previous decisions where the high court also set aside the same January 2024 order concerning Great Value Projects India (April 23) and Pan Realtors Pvt Ltd (May 29). The court noted…

InfrastructureLatest Stories

FONRWA urges Noida to clear backlog; CEO vows 100 projects

NOIDA: A delegation from the Federation of Noida Residents Welfare Associations (FONRWA), representing over 150 RWAs, recently met with officials from the Noida Authority to urge action on delayed civic projects ahead of Diwali. The executive committee held discussions with Noida Authority CEO Lokesh M., along with ACEOs Krishna Karunesh and Satishpal, OSD Mahendra Prasad, and GMs A.K. Arora, S.P. Singh, and R.P. Singh, as well as DGM Vijay Rawal and others. FONRWA president Yogendra Sharma expressed concerns that development initiatives across various sectors have been halted and decisions from a prior RWA meeting remain unaddressed. The CEO responded that…

Latest StoriesRegulatory

Builders face FIR for alleged fraud by Delhi firm

NOIDA: A Delhi-based company has accused representatives from two real estate firms of defrauding it of Rs 1.6 crore in a fraudulent property transaction involving Alphathum’s Noida World One project in Sector 90. A complaint filed by NWD Soft Infrastructure Pvt Ltd’s legal head, Sakshi Budhiraja, at Sector 142 police station claims that representatives from Bhutani Infra and CBS International misrepresented ownership of a commercial unit in Noida World One and diverted payments. An FIR has been filed against 11 senior executives—Gaurav Sharma, Rajesh Tandon, Sanjay Rastogi, Prem Bhutani, Aditya Raj Saxena, Naman, Naseem, Sakshi, Madhuri, Amit, and Anuradha Sharma—under…