Tag: Noida

IndustryLatest Stories

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…

Latest StoriesResidential

10,000 Noida Flats in Registry Haze Amid Unpaid Dues by Builders

NOIDA: Twenty-two real estate projects in the city owe Noida Authority approximately ₹5,560 crore in dues, leaving around 9,750 owners uncertain about when their flats can be registered. The Noida Authority has issued notices, frozen registries, and initiated recovery actions, including recovery certificates in collaboration with the district administration. According to the state’s rehabilitation policy, dues could have been reduced to ₹4,260 crore if developers had paid the mandatory 25% upfront. The defaulting builders include those who partially paid after accepting the settlement, those who accepted the policy but paid nothing, and those who have not accepted it at all.…

IndustryLatest Stories

YEIDA to Acquire 94 Acres for Apparel Park

Representative image NOIDA: The Yamuna Expressway Industrial Development Authority (YEIDA) is set to acquire an additional 94 acres for the Apparel Park project located in Sector 29. Of the planned 175 acres, 81 acres have already been allocated, with construction in progress at various sites. This acquisition aims to attract more investors and enhance apparel manufacturing in the region, fostering industrial activity and job creation. Officials assert that the added land will address land-related challenges and provide ample space for shared infrastructure. “The procurement process for the remaining 94 acres has commenced. This will bolster the region’s apparel ecosystem and…

InfrastructureLatest Stories

16,000 Families Relocated for Noida Airport Expansion

NOIDA: The Uttar Pradesh government has approved the rehabilitation and resettlement (RR) scheme for the third and fourth phases of the Noida International Airport project in Jewar. This decision, following Chief Minister Yogi Adityanath’s recent site inspection, enables the acquisition of 1,857 hectares across 14 villages, affecting around 16,000 families. This expansion is vital for transforming Noida International Airport into the largest greenfield aviation hub in India. The newly approved scheme permits the district administration to issue formal notices to families whose land and homes will be acquired in accordance with the Right to Fair Compensation and Transparency in Land…

Latest StoriesRegulatory

Allahabad HC: YEIDA to pay penalty to 150 plot allottees

NOIDA: The Allahabad High Court’s Lucknow bench has resolved nearly 150 RERA appeals from the Yamuna Expressway Industrial Development Authority (YEIDA) concerning allottees from its inaugural residential plot scheme in 2009, which includes about 21,000 plots in Greater Noida’s Sectors 18 and 20. The court supported the allottees, mandating YEIDA to pay outstanding dues along with interest for delays, while denying the authority’s request for a refund of pre-deposited amounts. The original residential plot schemes were initiated adjacent to the Yamuna Expressway. However, allottees faced development delays due to farmers’ protests and legal disputes over land acquisition. Further delays arose…

IndustryLatest Stories

UP Govt Supports Noida Authority’s Plan to Cancel 29 Idle Plots

NOIDA: The Uttar Pradesh industrial development department has upheld the Noida Authority’s decision to revoke the land allotment of 29 industrial allottees due to failure to initiate construction, despite several extensions and relaxations from the state government. On October 23, additional chief secretary (industrial development) Alok Kumar dismissed a revision petition from Elevator IT Solutions Ltd, which contested the Noida cancellation order from July 10, 2023, deeming it arbitrary and inconsistent with lease terms. The dispute arose over a 4,130 sqm plot in Sector 62, originally allocated for IT/ITES activities in 2008. According to the lease deed executed on August…

InfrastructureLatest Stories

U.P. CM Tours Noida International Airport

File Photo GAUTAM BUDH NAGAR: Chief Minister Yogi Adityanath visited the under-construction Noida International Airport in Jewar on Saturday, where he was assured by officials that all outstanding work would be completed by November 15. The CM evaluated progress on the domestic terminal, the inauguration site, security arrangements, traffic management, and ongoing projects. He also led a meeting with Noida International Airport Limited (NIAL) officials, along with senior administrative and police personnel, to discuss these matters in depth. Describing the Noida International Airport as a testament to Uttar Pradesh’s development, Yogi cautioned officials against any negligence that could impede preparations…

Latest StoriesRegulatory

FIR Filed Against 90 for Building on Noida Airport Land

NOIDA: Ninety residents from Nagla Hukum Singh and Karauli Bangar villages in Jewar have been charged with FIRs for unauthorized construction on land designated for the Noida International Airport expansion project. This action follows repeated violations reported by patrol teams and satellite imagery over the past year, despite multiple warnings from the district administration. The land, covering 1,181 hectares, was officially acquired under Section 11(1) of the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013, via a government order issued on November 18, 2022. According to Section 11(4), any sale, alteration, construction, or encroachment…

InfrastructureLatest Stories

441 Hectares from 18 Villages Officially Join YEIDA

Representative Image NOIDA: YEIDA has successfully completed the transfer of ownership for approximately 441 hectares across 18 villages in Jewar, previously held by 3,695 farmers. Although compensation and residential plot allocations were made, the land had not been officially registered under YEIDA’s name, resulting in illegal sales and cultivation activities. This initiative is part of YEIDA’s overarching strategy to safeguard its assets and ensure that land acquired for public projects is secured against misuse. Officials noted that the failure to update land records created opportunities for irregularities, including illegal sales, land mortgaging, and unauthorized cultivation on plots already acquired by…