Tag: Noida

Latest StoriesResidential

NBCC Auctions 417 Amrapali Aspire Units for ₹1,045 Crore

NEW DELHI: The state-owned NBCC (India) has wrapped up the e-auction for 417 residential units in two housing projects located in Noida and Greater Noida West, achieving a total sale value of approximately ₹1,045.4 crore, as stated in a regulatory filing by the company. The sold units are part of the Aspire Leisure Valley project in Greater Noida West, specifically in towers 7 and 8, as well as Aspire Silicon City, Phase IV in Sector 76, Noida, which comprises tower 5, under Sub-Package 4 of the project. According to the transaction agreement, NBCC will receive a marketing fee of 1%…

IndustryLatest Stories

Gaurs Group Secures ₹440 Crore via Non-Convertible Debentures

NEW DELHI: Gaurs Group has successfully completed its inaugural public offering of non-convertible debentures (NCDs), raising ₹440 crore, and the issue has been fully subscribed. Three mutual funds participated in the subscription. The debentures were issued by Gaursons India, the parent company of Gaurs Group, and will be traded on the National Stock Exchange (NSE). Kotak Mahindra Bank served as the sole arranger for this transaction. “This gives us enhanced flexibility to foster growth while ensuring a sound capital structure,” remarked Sarthak Gaur, director of the company. The entire process was concluded over a span of nearly three months. The…

CommercialLatest Stories

Noida Metro Rail Corp. Offers Commercial Space at 3 Stations

Representative AI image NOIDA: The Noida Metro Rail Corporation (NMRC) is leasing commercial spaces at Sector 81, Sector 83, and Depot metro stations along the Aqua Line. At Sector 81, NMRC is offering four commercial spaces: two on the ground floor (26 sqm and 172 sqm), one on the first/concourse level (315 sqm), and another on concourse level 2 (232 sqm). At Sector 83, a 226 sqm space is available on the upper ground floor, while at Depot metro station, there’s a 106 sqm area on the first/concourse level. As per NMRC officials, the successful bidder will be allowed to…

Latest StoriesRegulatory

SC Ruling on Supertech Supernova Offers Hope to Buyers

NEW DELHI: The Supreme Court’s recent order to appoint a new developer for the Supertech Supernova project in Noida, which is currently undergoing insolvency proceedings, has sparked renewed hope for countless homebuyers awaiting progress on stalled housing projects. As the construction of several projects has come to a halt during the insolvency process, the Supreme Court has stepped in to protect homebuyers’ interests by appointing a three-member committee to select another builder for the Supernova project, putting all entities under the Insolvency and Bankruptcy Code aside. The committee is tasked with appointing a new developer by evaluating proposals based on…

IndustryLatest Stories

RG Group Revives Greater Noida West Housing Post-Insolvency

NEW DELHI: RG Group has successfully completed the first phase of its previously stalled RG Luxury Homes project in Greater Noida West, following insolvency proceedings. The total construction costs post-NCLT are estimated at around ₹200 crore. Following the project’s admission to the National Company Law Tribunal (NCLT), the developer has refunded approximately ₹95 crore to homebuyers. Post-insolvency, ₹43 crore was infused by the promoter into the project, while banks provided nearly ₹27 crore in construction financing. After NCLT proceedings, the outstanding authority dues amounted to about ₹200 crore, of which ₹60 crore has already been paid. To obtain regulatory approvals…

IndustryLatest Stories

Cabinet Approves New Building Plan Norms for Noida Private Land

LUCKNOW: The Uttar Pradesh cabinet approved the New Okhla Industrial Development Authority (Building Construction on Land Transferred Through Exchange) Regulations, 2025, during a meeting on Monday. This initiative seeks to streamline the building plan approval process on privately owned land in the Noida region. Following the meeting chaired by Chief Minister Yogi Adityanath, the cabinet’s decision enables direct processing of applications for building map approvals on exchanged land by the Noida Industrial Development Authority (Noida Authority), bypassing the courts. According to Industrial Development Minister Nand Gopal Gupta ‘Nandi’, there weren’t clear policies under the existing Noida Building Regulations, 2010, for…

InfrastructureLatest Stories

Haryana Proposes Rajiv Chowk as Start for RRTS Corridor

GURUGRAM: The Haryana government has suggested that Rajiv Chowk serve as the starting point for the Gurgaon–Faridabad–Noida Namo Bharat (RRTS) corridor. Officials believe this strategic location will boost ridership throughout the day, enhance multimodal connectivity, and provide significant advantages to commuters. However, the National Capital Region Transport Corporation (NCRTC) has expressed reservations, citing increased construction costs, engineering obstacles, and the possibility of a detour between IGI Airport’s Aerocity and Noida International Airport. Disagreements arose during a meeting to finalize the draft detailed project report (DPR) for the corridor. This project is designed as a rapid transit link connecting IGI Airport…

Latest StoriesRegulatory

NGT Halts Order to Attach Gaursons Promoters’ Office, MD Case

NOIDA: The National Green Tribunal (NGT) has suspended its prior directive to attach the headquarters of Gaursons Promoters Private Limited and initiate criminal proceedings against the company’s managing director, granting temporary relief to the real estate developer. This ruling was made by a bench featuring judicial member Justice Arun Kumar Tyagi and expert member Dr. Afroz Ahmad, following the company’s request to modify or overturn the tribunal’s Dec 16 directive. This directive had been issued during the hearing of an execution application presented by a Greater Noida resident, claiming non-compliance with earlier tribunal orders. Senior advocate A R Takkar, representing…

InfrastructureLatest Stories

Gurugram-Noida RRTS: Draft Report Reveals Six Stations

GURUGRAM: The NCR Transport Corporation has presented a draft detailed project report (DPR) to the Haryana government for a rapid rail corridor connecting IFFCO Chowk in Gurgaon to Surajpur in Greater Noida. This corridor is essential for the Central government’s vision of a high-speed rail link between Delhi’s IGI airport and the future Noida International Airport in Jewar. The DPR has been submitted for the Haryana government’s feedback. As outlined in the draft, the corridor will traverse Sector 54, enter Faridabad at Bata Chowk, and continue through the Sector 85-86 intersection towards Noida sectors 142/168 before reaching Surajpur. The corridor,…

Latest StoriesRegulatory

Allahabad HC upholds ED proceedings in Grand Venice case

PRAYAGRAJ: The Allahabad High Court on Thursday refused to quash proceedings by the Enforcement Directorate (ED) under the Prevention of Money Laundering Act, 2002 (PMLA) concerning the FIR related to the Grand Venice project in Greater Noida, Gautam Budh Nagar. The court made important observations regarding the jurisdictional prerequisites and statutory protections governing the powers exercised under the Act. The Grand Venice project was developed on a commercial plot allocated by the Greater Noida Industrial Development Authority, intended for a theme-based commercial mall and an adjacent commercial tower. On June 9, 2015, an FIR was filed at the Kasna police…