Tag: Noida

Latest StoriesRegulatory

Noida Authority Seals 3 Lotus Panache Towers Over ₹700 Cr Dues

Representative image NOIDA: The Noida Authority has sealed three under-construction towers and 10 commercial outlets at the Lotus Panache project in Sector 110 due to unpaid dues totaling Rs 703 crore and illegal construction without proper building plan approval. The action targets the project’s developer, Granite Gate Properties Pvt Ltd. This project, covering 1.6 lakh sqm and approved for 31 towers with 4,018 housing units, has faced scrutiny over violations. Last year, the Authority had already sealed three towers from the same project for similar issues. Earlier this year, the developer, currently in insolvency proceedings, approached the Allahabad High Court.…

Latest StoriesResidential

Noida Authority Notifies ATS Homes Over Sports City Delay

NOIDA: The Noida Authority has notified ATS Homes, the primary developer for the Sports City project in Sector 152, regarding violations of lease agreements, construction delays, and a failure to provide essential sports infrastructure nearly ten years after the land was allocated. Officials report that ATS Homes and its consortium partners owe the authority ₹2,746 crore in outstanding dues and have consistently ignored reminders regarding their responsibilities. The 5 lakh sqm land parcel, of which ATS occupies 4 lakh sqm, was granted in July 2015 with a mandate to complete all sports facilities within five years and obtain occupancy certificates…

InfrastructureLatest Stories

Builders Commit to Compliance as GRAP Stage-III Begins in NCR

NEW DELHI: As air quality in Delhi-NCR deteriorates to ‘severe’ levels, the Commission for Air Quality Management (CAQM) has implemented Stage-III of the Graded Response Action Plan (GRAP), enforcing immediate restrictions on construction and demolition activities in the area. Real estate developers and industry organizations have committed to adhering to these directives, underscoring their environmental responsibility by adopting dust control and pollution reduction measures at all active sites. Pradeep Aggarwal, founder and chairman of Signature Global (India), stated, “Although temporary restrictions on construction may necessitate short-term changes, such actions are vital for promoting environmental sustainability and public health. Our teams…

IndustryLatest Stories

Noida Restores Rehab Benefits to Sikka Infra Amid ₹252 Crore Dues

Representative AI image NOIDA: The Noida Authority board has given preliminary approval to Sikka Infrastructure to regain benefits under the state government’s legacy stalled project policy for its Sector 143B housing project, Sikka Karnam Greens. This relief will take effect only after the builder withdraws its pending revision petition with the state government. The Authority had previously revoked all benefits granted to Sikka under the stalled project policy and issued a recovery certificate (RC) for dues amounting to approximately ₹252 crore. The latest decision states that the RC will be withdrawn once Sikka meets the stipulated conditions, including the withdrawal…

InfrastructureLatest Stories

Noida Implements Construction Ban as GRAP Stage-III Takes Effect

NOIDA: Due to the worsening air quality in the Delhi-NCR region, the Commission for Air Quality Management (CAQM) has initiated Stage-III of the Graded Response Action Plan (GRAP). As a result, the Noida Authority has implemented stringent restrictions on construction activities and vehicle movement throughout the city. According to an official announcement on Tuesday, all construction work in Noida is suspended, with the exceptions of metro rail, hospitals, and flyovers. This action is aimed at reducing pollution levels as the region’s Air Quality Index (AQI) remains in the “severe” category. On Wednesday evening, the AQI readings were 407 at the…

InfrastructureLatest Stories

Centre Implements GRAP Stage-III Restrictions in Delhi-NCR

NEW DELHI: On Tuesday, the Centre enacted stricter anti-pollution measures as part of Stage III of the Graded Response Action Plan (GRAP) in Delhi-NCR after the city’s air quality reached the ‘severe’ category. The decision followed a sharp increase in Delhi’s average Air Quality Index (AQI), which climbed from 362 on Monday to 425 on Tuesday morning. This escalation was attributed to calm winds, stable atmospheric conditions, and unfavorable weather that facilitated the accumulation of pollutants near the ground, according to the Commission for Air Quality Management (CAQM). Stage III measures include a ban on non-essential construction work and the…

Latest StoriesRegulatory

FIR Filed Against Logix Buildestate & Ace Group Over Assault Claims

NOIDA: Authorities filed a First Information Report (FIR) against two developers for alleged intimidation and violence after a farmer accused individuals associated with them of forcibly taking over his agricultural land and attacking family members during a confrontation late at night in the Rabupura area along the Yamuna Expressway. Pramod, a resident of Raunija village, stated that the 0.9-hectare land parcel, recorded under kasra number 63 in Shahpur, has been farmed by his family “for generations.” This land was designated for an Ace Estate project near the upcoming Noida International Airport; however, its acquisition by the Yamuna Expressway Industrial Development…

IndustryLatest Stories

YEIDA Offers One-Year Relief to Plot Allottees, Unveils New Policy

Representative image NOIDA: The Yamuna Expressway Industrial Development Authority (YEIDA) held a board meeting where several important decisions were made to aid plot allottees, enhance mobility, and improve regional infrastructure in preparation for the impending launch of the Noida International Airport. During the meeting on Friday, approvals included time extensions for plot development, a new one-time settlement (OTS) policy, the design approval for the Authority’s new headquarters, and the introduction of hydrogen-fueled buses in collaboration with NTPC. YEIDA extended the deadline for allottees of residential plots who are unable to start construction due to pending land availability and infrastructure issues.…

Latest StoriesRegulatory

NCLAT Halts Mahagun Insolvency, Orders NCLT to Rehear Case

NEW DELHI: In a significant development for the real estate firm Mahagun, the National Company Law Appellate Tribunal (NCLAT) has annulled the insolvency proceedings against it and instructed the NCLT to reconsider the petition in light of a new status report relating to the projects. A two-member bench of the appellate tribunal noted that the NCLT had overlooked crucial guidelines from the Supreme Court’s ruling in the Mansi Brar Fernandes case, which stipulates that insolvency proceedings for real estate should be project-specific. Additionally, the NCLAT acknowledged an intervention request from various homebuyers associated with different Mahagun projects, seeking to overturn…

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…