Tag: Noida

Latest StoriesRera

U.P. RERA Recovers ₹1,410 Crore for Homebuyers

NEW DELHI: The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has successfully recovered ₹1,410 crore from 5,700 recovery certificates to date. Of this, ₹861 crore has been collected in 3,053 cases from August 2023 to July 15, 2025, representing a significant 61% of the total recoveries made thus far. Recovery momentum continues to rise, as demonstrated by ₹380 crore recovered in 2023 and ₹463 crore in 2024. Between January 1, 2025, and July 15, 2025, ₹251 crore was recovered across 955 certificates, compared to ₹244 crore during the same period in 2024. Sanjay Bhoosreddy, chairman of UP-RERA, remarked, “This upward…

Latest StoriesRegulatory

SC Approves CBI to Register 22 Cases in NCR Builders-Banks Nexus

NEW DELHI: On Tuesday, the Supreme Court permitted the CBI to file 22 cases regarding the “unholy nexus” between banks and developers accused of deceiving homebuyers in the NCR. A bench led by Justices Surya Kant and N. Kotiswar Singh authorized the CBI to transition six preliminary inquiries against various builders and banks into 22 formal cases, similar to FIRs, for further investigation. Entities under scrutiny include builders in NCR and development authorities in Uttar Pradesh and Haryana. According to the subvention scheme, banks disburse approved amounts directly to builders, who must pay EMIs on these loans until they deliver…

Latest StoriesResidential

UP Cabinet Boosts Women: 1% Stamp Duty Discount on Property

LUCKNOW: The Uttar Pradesh Cabinet has approved a 1% discount in stamp duty for properties valued up to Rs 1 crore when registered in a woman’s name. This decision was made during a Cabinet meeting led by Chief Minister Yogi Adityanath at Lok Bhavan, as stated by the UP government. A total of 37 proposals were approved during this session. Previously, this exemption was limited to properties worth up to Rs 10 lakh, with a maximum discount of Rs 10,000. The government has now expanded this exemption to include properties valued up to Rs 1 crore. Labour Minister Anil Rajbhar…

CommercialLatest Stories

Adani Group to Build Paytm’s IT Complex in Noida

NEW DELHI: Manorview Developers, a subsidiary of Adani Group, has announced plans to develop an IT and ITES complex for One97 Communications, the parent company of the Paytm brand, in Noida, according to a regulatory filing. In 2018, the Noida Authority allocated a 10-acre plot in Sector 159 for this development. The filing indicated, “The company is now taking independent steps to advance the project. The board has approved the proposal to appoint Manorview Developers Private Limited as the Engineering, Procurement, and Construction (EPC) Contractor, pending the execution of definitive agreements.” In January 2024, Paytm’s board approved a Joint Development…

Latest StoriesRegulatory

Greater Noida: Builders’ ₹4,000 Cr Dues Amid Legal Issues

NOIDA: The Greater Noida Industrial Development Authority (GNIDA) is currently grappling with unpaid dues totaling Rs 4,081 crore from 21 significant real estate projects. Legal proceedings at various levels—from the National Company Law Tribunal (NCLT) to the Supreme Court—have created obstacles for the Authority in recovering these amounts. A report from GNIDA indicates that each project owes over Rs 100 crore, with Supertech Ltd at the forefront as the largest defaulter. The company has outstanding payments of Rs 903 crore, attributed to three projects—Rs 312 crore for one in Sector 1 and Rs 590 crore across two in Sector 16B.…

Latest StoriesResidential

Noida’s Highrise B&Bs Under Scrutiny for Short-Term Rentals

NOIDA: The rise of short-term rentals in high-rise residential areas is raising concerns following complaints about noise, drug use, and unauthorized commercial activities. Officials have stated that properties listed on online platforms are serving as unregistered guesthouses and party venues, often breaching housing and excise regulations. During a recent meeting at the Narco Coordination Centre (NCORD), DM Manish Verma instructed police, excise officials, and other agencies to investigate these properties. “We need to assess the legality of these rentals,” Verma emphasized. “If someone is renting out a flat for just a few days, it must adhere to the Sarai Act.…

IndustryLatest Stories

U.P. Grants 14-Year Waiver for Sunworld City Township

Representative image created by AI NOIDA: The Uttar Pradesh government has instructed the Yamuna Expressway Industrial Development Authority (YEIDA) to provide a 14-year ‘zero period’ waiver for Sunworld City’s stalled township project in Sector 22D. This decision follows revelations that approximately 20 acres allocated for the development were never acquired when YEIDA transferred the land to the developer in 2011. The state’s industrial development department, which reviewed a petition from Sunworld City Pvt Ltd, directed YEIDA to waive not just the penal interest but also the extension charges and related dues for the 20 acres from 2011 to the present.…

InfrastructureLatest Stories

Noida Aims for Firefight Tech Upgrade as Buildings Rise

Representative image created by AI NOIDA: The fire department is enhancing its firefighting resources by procuring high-pressure foam extinguishers, capable of extinguishing fires in buildings up to 100 storeys high. The technology, which was recently demonstrated at the fire safety expo in Greater Noida, was effectively tested by the fire department at the city’s tallest edifice — the 74-storey Supertech Supernova tower located in Sector 94. The Compressed Air Foam System (CAFS) technology utilizes a high-pressure foam delivery mechanism that can sustain pressure even at great heights. Fire officials indicate that high-rise fires present significant challenges, as water pressure diminishes…

Latest StoriesRegulatory

HC Asks Noida Authority: OCs for Lotus Boulevard Granted Without STPs?

NOIDA: The Allahabad High Court has instructed the Noida Authority to provide a comprehensive affidavit detailing the process by which occupancy certificates (OCs) were issued for the Lotus Boulevard project, despite claims concerning incomplete sewage treatment facilities. This order, dated July 7, was in response to a petition lodged by the apartment owners’ association, which asserted that the essential sewage treatment plants (STPs) were not operational when the certificates were granted. The bench, comprising Justices Mahesh Chandra Tripathi and Vinod Diwakar, has mandated that the Authority’s CEO submit the affidavit by the next hearing scheduled for July 16. The report…

Latest StoriesResidential

Lotus 300 AOA Questions Noida Authority on 228 Unregistered Flats

NOIDA: The apartment owners association (AOA) of Lotus 300, a condominium located in Sector 107, has issued a legal notice to the Noida Authority for allegedly ignoring Supreme Court orders related to the registration of flats. According to AOA officials, despite receiving occupancy (OC) and completion certificates (CC) for four towers with a total of 228 flats on April 22, the registration process has not progressed. The AOA has expressed concerns about initiating contempt proceedings to safeguard the rights of homebuyers. AOA president Bhuwan Chaturvedi stated that 25 flat owners from towers 3 to 6 had completed their purchases and…