Tag: Noida

Latest StoriesRegulatory

SC Sets Dec 5 Deadline for Jaypee Infratech Claims

NOIDA: The Supreme Court has given Jaypee Infratech homebuyers a deadline of December 5 to either request refunds or apply for flat allotments. This directive was issued on November 3 by Justices Sanjay Kumar and Alok Aradhe, instructing all outstanding claimants to reach out to Suraksha Realty Limited, the current overseer of the delayed Jaypee projects, with no additional extensions expected. The court also mandated Suraksha Realty to make a public announcement regarding this cut-off date, which it did by Thursday. “Many homebuyers are still presenting claims for refunds or flats. Suraksha Realty Limited is prepared to accept refund claims…

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New Noida Project Land Acquisition to Start Soon

Representative image NOIDA: The process of land acquisition for New Noida, set to be the upcoming industrial township, is about to commence. Officials report that the Noida Authority is finalizing the compensation plan for farmers in the Dadri–Noida–Ghaziabad Investment Region (DNGIR). The Authority will appoint officials to manage acquisition efforts across 80 identified villages in Gautam Budh Nagar and Bulandshahr districts. As one official explained, “The land acquisition will utilize a hybrid model that includes direct purchase, mutual consent, and land pooling to promote farmer involvement and ensure transparency throughout the process.” New Noida will cover approximately 209 square kilometers…

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Noida & Ghaziabad Stamp Services Paused Nov 8-11 for Migration

NOIDA: Property registrations in Noida and Ghaziabad will be halted for four days next week as the Stamp and Registration Department’s online portal undergoes a significant server migration. The department’s operations will transition from the NIC-operated Meghraj cloud to the National Govt Cloud (NGC) from November 8 to 11, as directed by the inspector general of registration in Uttar Pradesh. Assistant Inspector General of Registration-II, Brijesh Kumar, stated that this temporary suspension is essential for enhancing efficiency and data security. He noted that the migration aims to bolster system reliability and facilitate quicker, safer online transactions in the future. “We…

Latest StoriesRera

Uttar Pradesh RERA Lifts 22 Projects from ‘Abeyance’ Status

NEW DELHI: The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has de-listed 22 projects from the ‘abeyance list’ across seven districts, allowing construction work to resume. A total of 8,856 units—including flats, plots, and commercial units—will be built under these projects, representing a significant advancement in reviving long-stalled developments. Since the implementation of RERA, numerous projects were flagged for not having the required documents submitted at registration. After comprehensive evaluations, the authority issued notices to the promoters. In July 2024, it was determined that about 400 projects with incomplete documentation would be classified under ‘abeyance.’ Sanjay R. Bhoosreddy, chairman of…

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Noida Airport Ready, But 94% Business Plots Unused Along Yamuna

Representative Image NOIDA: As Uttar Pradesh rushes to finalize the Noida International Airport, a government survey has revealed that a significant portion of industrial land along the Yamuna Expressway—projected as a major growth corridor—remains undeveloped, hindering the region’s industrial potential just months ahead of the airport’s inauguration. The ongoing Invest UP survey, ordered by Chief Minister Yogi Adityanath earlier this year, indicates that more than 8,200 out of 33,493 industrial plots surveyed statewide are unutilized. This issue is particularly pronounced in the Yamuna Expressway Industrial Development Authority (YEIDA) area, where a staggering 94% of the 3,476 plots lack any development.…

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Real Estate Firms Surge to NCR Amid Rising Demand and Prices

Representative AI image NEW DELHI: The National Capital Region (NCR) is progressively attracting developers from Mumbai and Bengaluru, with price growth in the market surpassing other areas, experts indicate. Mumbai’s Oberoi Realty is set to introduce its initial project in Gurugram this fiscal year, while Lodha and Rustomjee are exploring land acquisition opportunities in the region, according to informed sources. Bengaluru’s Prestige Group and Sobha, early movers in the region, are now ramping up their expansion, making NCR their fastest-growing market. Godrej Properties and Tata Realty from Mumbai are also bolstering their presence in NCR. Newcomers like Dalcore are selecting…

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Partial OCs for Greater Noida Projects with 25% Advance

NOIDA: The Greater Noida Industrial Development Authority (GNIDA) has opted to issue partial occupancy and completion certificates to developers who have made advance payments in line with the UP government’s rehabilitation policy for stalled projects. This decision, announced on Tuesday, aims to provide immediate relief to countless buyers awaiting their flats for years and to developers grappling with project completion due to financial and bureaucratic obstacles. According to the new order, developers who have paid at least 25% of their recalculated dues—considering the two-year grace period granted during the Covid pandemic—and have made additional payments towards the remaining 75%, will…

Latest StoriesRegulatory

NCLAT Denies UCO Bank’s Claim in Bulland Buildtech Case

NOIDA: The National Company Law Appellate Tribunal (NCLAT) has determined that home loans issued by a bank to buyers do not constitute a financial debt owed by a project’s developer. This ruling came as it rejected UCO Bank’s request to be recognized as a financial creditor in the insolvency case of Bulland Buildtech Pvt Ltd, the firm behind the Bulland Elevates project in Greater Noida. A bench consisting of chairperson Justice Ashok Bhushan and technical member Arun Baroka upheld decisions from the National Company Law Tribunal (NCLT) that denied the bank’s Rs 19 crore claim and approved a resolution plan…

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Promoter unveils ₹18,000 crore plan for Jaiprakash Associates

MUMBAI: The promoter of Jaiprakash Associates (JAL) has re-entered the competition to reacquire control of the heavily indebted infrastructure company with a new ₹18,000 crore resolution plan, although lenders are skeptical about the previous owner’s capacity to raise the necessary funds. The latest proposal from the Gaur family, the promoters of Jaypee, surpasses offers made by Vedanta and the Adani Group for JAL, which holds significant land assets around Greater Noida and the Noida Expressway. “The promoter has submitted a new plan valuing the business at ₹18,000 crore, exceeding Vedanta’s offer,” said a source with knowledge of the situation. Vedanta…

Latest StoriesResidential

Uttar Pradesh Grants Noida Authority Extra FAR for Sector 107

NOIDA: The Uttar Pradesh government has rejected a revision petition contesting the Noida Authority’s decision to grant an additional floor area ratio (FAR) to a project developer in Sector 107. The petition was filed by the Great Value Sharanam Apartment Owners Association (AOA) against Great Value Projects India Ltd. In an order dated October 27, Additional Chief Secretary Alok Kumar from the Industrial Development Department ruled that the application under the UP Apartment (Promotion of Construction, Ownership & Maintenance) Act was not appropriate, noting that the contested orders were issued under the UP Industrial Area Development Act. The AOA sought…