Tag: Noida

Latest StoriesRera

UP-RERA Issues Refund Guidelines for Excess GST from Homebuyers

GST NEW DELHI: The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has introduced new guidelines for refunding excess Goods and Services Tax (GST) collected from homebuyers in registered real estate projects. UP-RERA emphasized that GST for all registered projects should be collected in accordance with the rates set by the central government. Earlier, on January 8, 2025, UP-RERA had issued an order informing registered promoters and real estate agents about the applicable GST rates. However, concerns were raised that some allottees were charged GST rates above the prescribed ones. To address this, the State Tax Department has implemented an online…

CommercialLatest Stories

NCR Office Leasing Drops 1% to 7.2M Sq Ft in H1 2026

NEW DELHI: In the first half of 2026, the National Capital Region (NCR) saw gross office leasing reach 7.2 million sq ft, reflecting a slight one percent decrease compared to the previous year, as detailed in a report by Knight Frank India. Office completions amounted to four million sq ft during this timeframe, marking a two percent decline year-on-year. Overall, the total office stock in NCR has risen to 208.1 million sq ft, registering a five percent annual increase. Average transaction rents saw a significant rise of 13 percent year-on-year, reaching ₹106 per sq ft per month in H1 2026.…

Latest StoriesResidential

NCR Housing Sales Drop 7% to 24,862 Units in H1 2026

NEW DELHI: The National Capital Region (NCR) saw residential sales reach 24,862 units in H1 2026, a seven percent decline from 26,795 units in H1 2025, as per Knight Frank India’s report. During the same period, new launches fell by five percent year-on-year, totaling 23,877 units compared to 25,233 units last year. Gurugram led the NCR residential market, representing 50 percent of new launches and 42 percent of total sales in H1 2026. Knight Frank noted that Gurugram’s launch pipeline is predominantly in the premium and luxury segments, with nearly all new projects starting above the ₹2 crore price point.…

Latest StoriesRegulatory

Delhi Court Cancels Bail of Nivas Promoters’ Director in Fraud Case

NEW DELHI: A Delhi court revoked the bail of a builder accused of defrauding homebuyers in Greater Noida. The court found that he repeatedly violated bail conditions, ignored directives, and exploited the leniency granted. Judicial Magistrate Ankit Garg listened to the prosecution’s request to cancel the bail previously granted to Rahul Chamola, director of ‘Nivas Promoters Pvt Ltd’, on December 13, 2023. The court noted Chamola’s behavior indicated a blatant disregard for bail conditions. In February 2024, he sought exemption from personal appearance, which was granted upon payment of a ₹5,000 fee; however, by October of the same year, he…

InfrastructureLatest Stories

Five Years On, Greater Noida Smart Villages Still Face Road Issues

Representative image NOIDA: The road to Sadullapur has been riddled with four- to five-foot-wide potholes for months, and the recent rain has exacerbated the situation, forcing commuters to maneuver around waterlogged holes. Similar conditions are evident in Saini, Sunpura, Vaidpura, and Maincha, among other lesser-developed areas in Greater Noida West that were designated as “smart villages” five years ago, with promises of improved infrastructure. The Greater Noida Industrial Development Authority (GNIDA) initiated a ₹150 crore project in 2021, which pledged amenities like paved roads, streetlights, schools, Wi-Fi, drinkable water, parks, drainage systems, and community centers in several villages, including Maincha,…

IndustryLatest Stories

Max Estates achieves ₹1,100 crore pre-sales in Q1 FY27

NEW DELHI: Max Estates reported pre-sales of ₹1,100 crore in Q1 FY27, marking a growth of over five times compared to the same quarter in the previous financial year. During the quarter, the company sold 487 units across its Noida and Gurugram projects, a significant increase from just 43 units sold in Q1 FY26. The recently launched Phase-I of The Terraces was completely sold out, contributing approximately ₹500 crore in sales revenue, while sustained sales added another ₹600 crore to the quarter’s total. Max Estates achieved collections of about ₹500 crore in Q1 FY27, reporting that annual collections typically represent…

Latest StoriesRera

Haryana, UP RERA Approve ₹35,000 Crore in Real Estate Projects

NEW DELHI: The real estate regulatory authorities in Haryana and Uttar Pradesh have approved projects worth over ₹35,000 crore. The Gurugram bench of Haryana RERA sanctioned 51 real estate projects between January and June 2026, totaling nearly $4 billion in investment. Notably, 11 of these projects represent a combined investment of around ₹25,000 crore. The 51 approved projects consist of 16,727 units, which include 15,403 residential units, 1,084 commercial units, and 240 industrial units. The authority highlighted that these approvals indicate ongoing interest from developers and investors in the Gurugram real estate sector, which attracted nearly ₹87,000 crore across 131…

IndustryLatest Stories

Godrej Properties Buys 4.95 acres in Noida for ₹331.75 Crore

Representative AI image NEW DELHI: Godrej Properties has secured the highest bid for a 4.95-acre residential land parcel in Sector 151, Noida during an e-auction hosted by the New Okhla Industrial Development Authority (NOIDA). The land was acquired for ₹331.75 crore, as indicated on the e-tendering portal of HDFC Bank. NOIDA will issue the allotment letter following the necessary procedures. The land spans 20,050 sq meters and is set to be developed into a residential group housing project, with expected revenues exceeding ₹2,000 crore. This project will feature premium residential apartments in various configurations. Earlier this month, Godrej Properties also…

Latest StoriesResidential

Fire Exposes Dangers of Life in Unfinished Societies

Representative AI image NOIDA: A fire erupted on the 21st floor of Tower 4 at Aranya Society in Sector 119 on Monday, highlighting the risks faced by numerous homebuyers residing in incomplete, insolvency-afflicted housing projects throughout Noida. This incident has reignited calls for mandatory fire safety audits and greater accountability regarding stalled developments. Aranya is among over 60 such projects in Noida where residents were compelled to occupy units before completion—not out of choice, but due to financial constraints that prevent them from paying both rent and home loan EMIs. The society, comprising nearly 2,500 units, has been under Corporate…

Latest StoriesRegulatory

Consumer panel orders Ansal Hi-Tech to refund homebuyer after 12 years

NOIDA: The District Consumer Commission has ruled that Ansal Hi-Tech Townships Limited, based in Greater Noida, must refund a homebuyer who booked a flat in 2014. Despite paying numerous instalments over the years and receiving an allotment letter, he never acquired possession of the property. Sanjay Agrawal, a resident of Sector 22, booked a flat in Ansal’s A2 Sushant Megapolis project in Greater Noida. He initially paid a registration fee of ₹250 in March 2014, followed by a booking fee of ₹15,000 and additional instalments totaling ₹1 lakh against a total flat price of ₹3.25 lakh. An allotment letter was…