Tag: Noida

Latest StoriesRegulatory

NGT Orders Greater Noida to Report Illegal Buildings Monthly

NOIDA: Illegal construction has persisted in the city, despite repeated affidavits and responses submitted by former municipal corporator Rajendra Tyagi to the National Green Tribunal (NGT). The Greater Noida Industrial Development Authority (GNIDA), which is tasked with addressing such issues, has neglected to comply with multiple NGT directives and has received an additional four weeks to respond. The UP Pollution Control Board (UPPCB) has indicated that a report from GNIDA is essential to determine if the contested constructions surpass the 5,000 sqm threshold that necessitates consent for establishment. Last July, the Authority’s representative assured a comprehensive affidavit within three weeks,…

Latest StoriesResidential

Noida: Mahagun Mywoods Residents Protest Builder’s Neglect

NOIDA: Residents of Mahagun Mywoods protested late Sunday, demanding prompt action from the builder regarding various unresolved issues, including sewage treatment failures, electricity dues, inadequate security, and malfunctioning lifts. This protest is part of a series of weekend demonstrations addressing these ongoing concerns, as previously reported by TOI. Residents highlighted multiple infrastructure problems, such as a non-operational sewage treatment plant (STP1), halted construction on STP2, faulty lifts, loose electrical fittings, and neglected common areas. They are also pushing for the completion of flat registries, resolution of unpaid water bills, a thorough safety audit, and accountability for alleged financial mismanagement. Security…

InfrastructureLatest Stories

FIR Filed Against Four for Building on Noida Airport Land

NOIDA: An FIR has been filed against four individuals for allegedly constructing illegal structures on land designated for the Noida International Airport expansion in Jewar, despite an official ban on new construction and transactions. The FIR was registered after lekhpal Niranjan Mishra conducted an inspection in Mukimpur Shiwara, roughly 4km from the airport site, and discovered extensive unauthorized constructions. This village is within the third phase of the airport project, which was officially announced by the state government on April 11 of the previous year. Mishra indicated that the affected land includes several villages, such as Rohi, Parohi, Banwaribas, Ramner,…

IndustryLatest Stories

ReaRCo Acquires KV Developers via Insolvency Process

NEW DELHI: ReaRCo Private Limited, a real estate asset resolution firm, has acquired KV Developers through the insolvency resolution process. This development offers renewed hope to nearly 400 homebuyers in Greater Noida who invested in the project back in 2013. The company has also secured ₹195 crore from the government-backed SWAMIH Fund to complete the project. “We are currently constructing 646 units across five towers, with the aim of enabling possession for existing homebuyers by the end of the year. The project has been significantly upgraded to enhance comfort and amenities for the residents,” stated Geetanjali Khanna, founder and managing…

Latest StoriesRegulatory

SC urges NCLAT to rule on 14 Supertech housing projects

NEW DELHI: On Monday, the Supreme Court urged the NCLAT to swiftly decide on the amalgamation of 14 remaining housing projects of the financially troubled real estate firm Supertech within a court-supervised framework, aiming to expedite completion and alleviate the concerns of homebuyers. Earlier, on February 5, the Supreme Court upheld an NCLAT order directing the State-owned NBCC to complete 16 out of 30 housing projects of Supertech Limited. The NCLAT is set to re-examine the issue on April 24. A bench led by Chief Justice Surya Kant and Justice Joymalya Bagchi took note of the worries expressed by homebuyers…

IndustryLatest Stories

Uttar Pradesh’s Draft Code Ties FAR to Road Width

NOIDA: The Uttar Pradesh government has released a draft unified building code aimed at significantly altering project developments in Noida, Greater Noida, Yamuna, and other industrial development areas. The new regulations propose to consolidate separate rules for each development authority into a singular comprehensive framework. They also aim to increase floor area ratio (FAR) limits across various categories, link higher FAR to the width of adjacent roads, reduce setback requirements, and eliminate height restrictions except where safety or heritage guidelines apply. The draft of the Unified Building Regulations for Industrial Development Authorities is now available for public comment on the…

Latest StoriesRegulatory

Consumer Panel Orders Supertech to Fix Seepage in 30 Days

NOIDA: The district consumer commission has found Supertech Limited guilty of service deficiency after a flat sold by the builder at Ecovillage-2 suffered from seepage and sewage issues. The commission has instructed the company to address the defects within 30 days and compensate the owner with Rs 4,000 for mental anguish and legal expenses. The complaint was initiated in May 2019 by Minimol Chanchal Singh, a resident of Sector 16B, who had purchased a flat in Tower C-3 of the Supertech condominium. The flat, which was allotted to Singh in September 2016, was sold for Rs 27 lakh, including registry…

Latest StoriesRera

UP-RERA warns buyers on ‘assured returns’ schemes, ads

Representative AI image NEW DELHI: The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has issued a public advisory to homebuyers, cautioning them against deceptive promotional schemes such as “assured returns” and “fixed rental income before possession.” The authority stated that these offers lack legal validity. UP-RERA noted that many developers continue to promote schemes like subvention plans, pre-EMI payments until possession, buyback guarantees, and lease assurance models to lure buyers. Some developers also use flashy offers like free cars, gold coins, and international trips. Sanjay Bhoosreddy, chairman of UP-RERA, stated, “Homebuyers should be wary of promotional schemes like assured returns…

IndustryLatest Stories

YEIDA extends FinTech hub application deadline

NOIDA: The Yamuna Expressway Industrial Development Authority (YEIDA) has pushed back the application deadline for its planned 500-acre FinTech hub in Sector 11 near the Noida International Airport to April 29, from the previous April 2 deadline. Shailendra Bhatia, the authority’s additional CEO, explained that the deadline was adjusted to coincide with an upcoming financial summit aimed at attracting global investors and industry representatives. “We have moved the bid due date from April 2 to April 29, with the technical bid opening now set for May 1. This change is due to the Money Alpha 360° summit, which focuses on…

IndustryLatest Stories

Hawelia Group Receives UP-RERA Approval for Noida Project

NEW DELHI: Hawelia Group announced on Sunday that it will invest ₹770 crore to revive a 22-acre housing project in Greater Noida, following approval from the Uttar Pradesh Real Estate Regulatory Authority (UP-RERA). The company’s involvement will help over 2000 homebuyers who have been waiting for years to see their investments realized. In 2023, the Delhi-NCR-based firm reached an agreement with SJP Infracon, the previous promoter of the stalled ‘Shri Radha Sky Gardens’ project, to ensure its completion. The firm sought governmental approval to act as a co-promoter in this delayed development. In its statement, Hawelia Group mentioned that it…