Tag: Noida

Latest StoriesRegulatory

ED Arrests Noida’s Bhasin Infotech Promoter

NEW DELHI: The Enforcement Directorate has apprehended the promoter of a Noida-based real estate firm in a money laundering investigation tied to the alleged cheating of home buyers, officials reported on Saturday. Satinder Singh Bhasin, director of Bhasin Infotech and Infrastructure Pvt Ltd (BIIPL) and owner of Grand Venice Mall in Greater Noida, was arrested on Friday. He was presented before a special court under the Prevention of Money Laundering Act (PMLA) in Ghaziabad, Uttar Pradesh, which ordered him to be held in Enforcement Directorate (ED) custody until June 6, as stated by officials. Authorities have claimed that Bhasin was…

Latest StoriesRegulatory

ED Seizes ₹634 Crore Assets in Unitech Money Laundering Case

NEW DELHI: The Enforcement Directorate announced on Friday that it has attached assets valued at ₹634 crore from a significant real estate project by the Unitech Group in Noida. This action pertains to a money laundering investigation related to suspected fraud against homebuyers. A provisional order has been issued under the Prevention of Money Laundering Act (PMLA) to seize properties linked to the Unitech Golf and Country Club (UGCC) Project, located in Sectors 96, 97, and 98 of Noida, Uttar Pradesh, according to the central agency’s statement. The seizure includes leasehold rights over 347.83 acres of land and equity stakes…

Latest StoriesRegulatory

SC asks Centre, ED, RBI about plea on homebuyer fund misuse

NEW DELHI: The Supreme Court has requested responses from the Centre, ED, RBI, and other parties, including certain real estate firms, regarding a plea claiming that significant amounts collected from homebuyers in Noida and Yamuna Expressway projects were misappropriated. A bench consisting of Chief Justice of India Surya Kant and Justices Joymalya Bagchi and Vipul M Pancholi acknowledged the submissions by lawyer Prashant Bhushan, representing petitioner Vandana Sabharwal, and issued notices to the respondents due by July 15. The bench also called for responses from the Union ministries of Housing and Urban Affairs, Corporate Affairs, as well as Uttar Pradesh…

Latest StoriesResidential

Airport Set for Flights, Property Prices Surge in Greater Noida

NOIDA: The Greater Noida Industrial Development Authority (GNIDA) has increased property allotment rates by 3.5% across all categories. The new rates, approved by the board on May 2, see commercial property priced at Rs 98,776 per sqm, while residential plots in developed sectors are now set at Rs 51,363 per sqm. This adjustment comes ahead of the anticipated commercial operations at the Noida International Airport, slated to commence on June 15. Officials believe the airport will position Greater Noida as a significant economic and logistics center, likely boosting demand from investors, businesses, and homebuyers. According to GNIDA’s additional CEO, Sunil…

Latest StoriesRera

UP-RERA Directs Banks to Implement New Real Estate Account Norms

NEW DELHI: The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has urged banks and financial institutions to adhere to the updated banking regulations and operational guidelines for accounts related to RERA-registered real estate projects. The authority conducted an awareness meeting with nationalized and scheduled banks at the Bank of Baroda’s regional office in Lucknow to discuss the revised project account directives issued on May 11, 2026. According to the new regulations, each RERA-registered project must maintain three distinct bank accounts: a collection account, a separate account, and a transaction account. At least 70% of the funds collected from homebuyers must…

Latest StoriesRegulatory

U.P. Minister Takes Action Against Errant Noida Builders

LUCKNOW: Nand Gopal Gupta Nandi, the state’s industrial development minister, urged officials on Tuesday to take stringent measures against builders who default on their obligations and expedite the resolution of issues between builders and buyers in Noida. He also raised concerns regarding alleged irregularities in project allocations and civic contracts. During a review of various projects under the Noida Industrial Development Authority, Nandi emphasized the need to resolve stalled housing projects and pending flat registrations promptly. Officials informed him that 57 projects were now governed by the policy framework established by the Amitabh Kant Committee, with 36 builders having deposited…

Latest StoriesRera

UP-RERA Approves 13 Projects Worth ₹3,052 Crore for Buyers

NEW DELHI: The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has approved 13 real estate projects, cumulatively estimated at ₹3,052.73 crore, across eight districts in the state. The projects, approved during the authority’s 202nd meeting, will include a total of 4,772 residential and commercial units. Notably, Ghaziabad received the highest number of approvals, with four projects amounting to ₹1,936.72 crore. This includes three commercial developments and one residential project, totaling 2,199 units. In Gautam Buddh Nagar, one commercial project was approved with an estimated investment of ₹420.50 crore, which will consist of 855 commercial units. Agra saw the approval of…

InfrastructureLatest Stories

New Noida Land Acquisition Launches in 37 Villages

Representative AI image NOIDA: The Noida Authority is gearing up to acquire land for New Noida, also referred to as the Dadri-Noida-Ghaziabad Investment Region (DNGIR). The initial phase will involve land acquisition from 37 villages, comprising 24 in Bulandshahr and 13 in Noida, through voluntary purchase, expected to commence next month. “The Noida Authority has requested the government to assign three tehsildars to facilitate land acquisition in the region. A temporary office will also be established in New Noida for this initiative,” stated Noida OSD Kranti Shekhar. The villages earmarked for the first phase of acquisition include Anandpur, Bel Akbarpur,…

IndustryLatest Stories

Commercial Plot in Noida Priced at ₹758 Crore

Representative Image NOIDA: As the city’s land market heats up ahead of the anticipated launch of the airport in June, the Noida Authority is preparing to offer 35 plots in various categories, including industrial, institutional, commercial, and hotel use, with reserve prices ranging from ₹65 lakh to ₹758 crore. Officials noted that the high-end pricing mirrors increased investor interest sparked by the Noida International Airport, which is set to commence operations on June 15. The plot scheme will be available starting May 19, with earnest money deposits due by June 9 and the final submission deadline on June 11. “The…

InfrastructureLatest Stories

CGWA Urges UP to Act on Builders’ Groundwater Misuse

NOIDA: The Central Groundwater Authority (CGWA) has urged the UP groundwater department to take action against real estate developers in Noida for alleged excessive groundwater extraction and wastage. This follows a complaint from an environmental activist. In a letter to the state department, CGWA administrator VK Dhaundiyal emphasized that groundwater management in UP is regulated by the state, requesting intervention and a report on actions taken. The letter was accompanied by the complaints received by the authority. Environmental activist Vikrant Tongad filed a complaint with the CGWA, UP government, and Noida Authority, highlighting significant groundwater extraction at construction sites in…