Tag: Noida

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Allahabad HC Dismisses GNIDA’s IT Firm Plot Review

NOIDA: The Allahabad High Court has rejected a review petition from the Greater Noida Industrial Development Authority (GNIDA) concerning a previous judgment that overturned the cancellation of an IT firm’s land allotment. The disputed 25-acre IT/ITES plot in Greater Noida’s Tech Zone II was initially allotted in October 2007 to a consortium headed by Anant Raj Industries and subsequently transferred to Elevator Properties via a lease deed on August 16, 2010. Notably, Elevator Properties Pvt Ltd is a subsidiary of Anant Raj Industries. On February 25, Justice Prakash Padia determined that the authority failed to produce any “error apparent on…

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Noida: Paramount Developers Pays ₹106 Cr, Unlocks 135 Flats

NOIDA: Paramount Developers has paid over ₹106 crore to the Noida and Greater Noida authorities, settling dues on two housing projects and paving the way for the registration of 135 flats. This includes 35 flats in Paramount Emotions located in Greater Noida West and 100 in Paramount Floraville in Sector 137, Noida. As per the developer, approximately ₹26 crore was paid to the Greater Noida Authority, while ₹80 crore went to the Noida Authority, following a settlement framework established by the Uttar Pradesh government for distressed housing projects. Paramount Emotions, covering 11 acres, was launched in 2010 and includes 19…

Latest StoriesRegulatory

HC Urges Greater Noida Authority to Reinstate Cancelled Plot

NOIDA: The Allahabad High Court has reinstated a farmhouse plot valued at over Rs 100 crore to a firm, overturning a cancellation order issued nine years ago, effective immediately. A division bench comprising Justices Mahesh Chandra Tripathi and Kunal Ravi Singh ruled on Thursday to restore the 3.8 lakh sqm plot in Greater Noida to SDS Infratech, reversing the Greater Noida Authority’s 2017 cancellation order and instructing it to address the developer’s zero-period relief request within four months. The bench partially granted the writ petition, annulling the August 17, 2017 order that rescinded the April 25, 2011 plot allotment. This…

InfrastructureLatest Stories

YEIDA to Develop 500-Acre FinTech Hub Near Noida Airport

Representative AI image NOIDA: The Yamuna Expressway Industrial Development Authority (YEIDA) has proposed a cutting-edge 500-acre FinTech Hub in Sector 11, near the Noida International Airport, and has released an expression of interest (EOI) for its development. This hub aims to create a premier financial ecosystem and will include essential financial services, transaction processing centers, IT and digital services, and customer support operations, establishing the region as a key FinTech destination. March 18, 2026, is the deadline for submission of applications from potential developers. The EOI also allows for the construction of corporate offices, conference facilities, auditoriums, cultural centers, kiosks,…

Latest StoriesRegulatory

NBCC to Seek Supreme Court RERA Exemption for 11 Supertech Projects

NEW DELHI: State-owned NBCC is preparing to approach the Supreme Court for an exemption from RERA registration, as 11 out of the 16 Supertech projects it is required to manage will need additional funding, according to sources familiar with the situation. The Supreme Court recently upheld an NCLAT ruling requiring NBCC to complete 16 housing projects managed by the financially troubled Supertech Limited. However, upon review, NBCC identified that funds would need to be reallocated to finish these projects, which is not permitted under RERA regulations. “The NCLT lacks the authority to grant RERA exemptions, which are crucial for delivering…

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SWAMIH Fund Approves ₹115 Crore for Antriksh Valley Project

Representative AI image NEW DELHI: The SWAMIH Investment Fund I, supported by the government, has approved an investment of up to ₹115 crore for the completion of the stalled residential project Antriksh Valley (now known as The Valley) in Greater Noida West’s sector 1. As per the sanction letter, the fund’s investment committee has granted final approval for an investment of up to ₹95 crore, with an additional ₹20 crore contingent upon further internal approvals and project progress review. This investment will be made through non-convertible debentures (NCDs) issued by Diligent Builders, the project developer. The funds will be strictly…

Latest StoriesRegulatory

NCLAT Hands Over Supertech Projects to AoAs for Maintenance

NOIDA: The National Company Law Appellate Tribunal (NCLAT) has instructed that day-to-day maintenance of two Supertech housing projects—Ecociti (Sector 137) and 34 Pavilion (Sector 34)—be transferred to their registered apartment owners’ associations (AOAs) within 30 days. This decision empowers residents to manage essential services and maintenance through their elected representatives after enduring years of external management. A bench led by chairperson Ashok Bhushan and member (technical) Barun Mitra directed YG Estates Facilities Management Pvt Ltd, the respondent, to complete the transfer under the supervision of the interim resolution professional (IRP), as Supertech Ltd is currently in insolvency proceedings. In the…

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Uttar Pradesh to Use Vacant Society Spaces in Redevelopment Plan

LUCKNOW: Residents of Lucknow and other significant cities may join forces to redevelop existing housing societies. Following the example set by metro cities, a new redevelopment policy launched by the state government allows for the utilization of additional space in residential layouts to create larger units. If two-thirds or more apartment owners in a layout exceeding 1,500 sq mt (16,146 sq ft) consent, redevelopment efforts can commence to construct improved apartments. To support the project’s financial viability and attract private developers, various incentives will be available. The local housing development authority will provide a 50% rebate on development charges, an…

InfrastructureLatest Stories

Yamuna Authority Plans 500 Acres for Japan and Singapore Cities

LUCKNOW: The Yamuna Expressway Industrial Development Authority (YEIDA) has submitted a proposal to the state government for the development of Japan City and Singapore City along the Yamuna Expressway, officials reported on Thursday. YEIDA CEO R K Singh stated that the proposal, sent on February 18, notified the state’s Infrastructure and Industrial Development Commissioner about the identified land for these projects within the authority’s jurisdiction. He also mentioned that the authority has developed a land acquisition plan for both initiatives. Singh highlighted that this information was requested in light of Chief Minister Yogi Adityanath’s upcoming official visits to Japan and…

InfrastructureLatest Stories

Four Stations in Phase 1: NMRC to Revise Greater Noida West Metro

Here’s a rewritten version of the content: — NOIDA: Following the Union Cabinet’s approval of the Aqua Line extension from the Botanical Garden to Sector 142, the Noida Metro Rail Corporation (NMRC) announced it will develop a revised detailed project report (DPR) for the Greater Noida West metro corridor. The updated plan will feature only four stations in Phase 1, as opposed to the previously proposed eleven. In this revised plan, the metro corridor will include stations at sectors 61, 70, 123, and Greater Noida Sector 4 (Gaur Chowk) in the first phase. Initially, an 18 km track was suggested…