Tag: Noida

Latest StoriesRegulatory

SC considers panel to oversee Supertech Realtors projects

NEW DELHI: On Thursday, the Supreme Court contemplated the formation of a committee to manage the bidding process and selection of a co-developer for the stalled construction of residential apartments, office spaces, retail areas, and a luxury hotel by Supertech Realtors. Supertech Realtors, part of the troubled real estate giant Supertech, is undergoing insolvency proceedings alongside several associated companies. The Supernova project, which Supertech Realtors is working on, has a budget of Rs 2,326.14 crore and covers a 70,002-square-metre plot located in Sector 94, Noida. The project is set to feature an 80-floor building, making it the tallest structure in…

InfrastructureLatest Stories

Noida Authority Targets Unauthorized Construction in Salarpur

NOIDA: Teams from the Noida Authority have been assigned to Salarpur village and surrounding areas to curb illegal construction. Reports indicate that unauthorized construction has occurred on plots numbered 728–735 and 745–752, with some buildings exceeding seven floors without proper approval. The field teams, which include five managers, an assistant manager, four junior engineers, 20 field staff, and two police officers, are conducting daily inspections. Their findings will be reported to the senior manager of Work Circle 8 to ensure stringent oversight and prompt action against encroachments. This initiative focuses on 39 developers involved in constructing more than 60 unauthorized…

InfrastructureLatest Stories

Issues Persist in Noida’s ‘New Sectors’ After a Decade

NOIDA: Nearly ten years after many residents of the 7x and 100x sectors in Noida received possession of their apartments, they moved to this satellite town to avoid hefty EMIs on home loans, expecting gradual development. Unfortunately, fundamental infrastructure improvements have yet to materialize. Sectors like 74 to 79 and 115 to 121 continue to grapple with inadequate transportation, poorly maintained roads, a scarcity of petrol stations, designated commercial areas, and children’s parks. Additionally, only a limited number of ATMs and banks cater to the needs of the approximately 300,000 residents. “While conditions have gradually improved with the introduction of…

Latest StoriesResidential

UP Minister: Noida Flat Registry Can Proceed After NOC

LUCKNOW: Uttar Pradesh Minister Ravindra Jaiswal has stated that delays in property registration in Noida and Greater Noida are due to disputes between builders and local development authorities regarding no-objection certificates (NOCs), clarifying that his department has no involvement in this stalemate. In an interview with PTI in Lucknow, the Minister of State (Independent Charge) for Stamp and Court Fee, Registration, explained that registrations for homebuyers are processed promptly once an NOC is provided by the Noida, Greater Noida, or Yamuna Expressway industrial development authorities. “In Gautam Buddh Nagar, three local development authorities are responsible for allocating land to builders…

Latest StoriesResidential

Noida Homebuyers Protest Over Delayed Project Possession

NOIDA: Over 80 homebuyers from Lotus Arena in Sector 79 protested on Sunday due to the project’s incompletion and the delay in possession. The development spans 50,000 square meters on Plot No. SC-01/A2 and comprises 1,080 flats, of which 858 units have been sold, leaving 222 unsold. Launched in 2014 with an approved layout from the Noida Authority, project promoters reportedly mismanaged around Rs 387 crore of homebuyers’ funds. This mismanagement triggered the initiation of the Corporate Insolvency Resolution Process (CIRP) in 2020, leading to a resolution plan approved by the National Company Law Tribunal (NCLT) in 2023, which appointed…

CommercialLatest Stories

Greater Noida Plans to Double FAR to Draw Companies

NOIDA: The Greater Noida Industrial Development Authority (GNIDA) has proposed changes to its Building Regulations from 2010, specifically aiming to revise the floor area ratio (FAR) for plots designated for IT, IT-enabled services (ITES), and Biotech Parks. The proposal to increase the FAR from 2 to 4 has been submitted to the state government for approval. According to Additional CEO Prerna Singh, both current allottees and prospective companies have expressed the need for a higher FAR. Representatives from IT and ITES sectors argue that the existing FAR of 2 does not suffice, given the area’s rapid development into a hub…

IndustryLatest Stories

Gaursons to Mortgage Mall for ₹315 Crore to Clear Flat Dues

NOIDA: The Greater Noida Industrial Development Authority (GNIDA) has provisionally approved a proposal from Gaursons Group to mortgage part of its Gaur City Mall in Greater Noida West. This mortgage will serve as security for additional compensation dues owed to farmers, facilitating the execution of about 2,100 long-awaited sub-lease deeds in three housing projects by the developer. This decision aims to relieve residents who have taken possession of their flats but have not yet secured legal ownership. Without these sub-lease deeds, residents are caught in legal uncertainty, despite having fully paid for and occupied their flats in the three projects.…

Latest StoriesResidential

Noida: 120+ families ordered to leave Janta flats post-collapse

Representative image created by AI NOIDA: Authorities have advised nearly 130 families residing in Janta and EWS flats in Sector 31 to vacate their homes after a roof collapse highlighted the dire structural issues stemming from years of water seepage, neglect, and unauthorized renovations. On Sunday evening, rain exacerbated by years of neglect led to the roof of a second-floor flat collapsing, largely due to the additional weight of three overhead water tanks. Kuldeep and Savita Dixit, who live in the affected two-bedroom unit with their three young children, were home when the ceiling fell in. Savita recounted, “It sounded…

Latest StoriesRegulatory

ED Conducts Searches on BPTP in Delhi-NCR

NEW DELHI: On Tuesday, the Enforcement Directorate conducted searches at locations linked to real estate firm BPTP across Delhi-NCR as part of an investigation into a foreign exchange violation case involving approximately Rs 500 crore, according to official sources. The searches were carried out at BPTP’s premises in Delhi, Noida, and Faridabad under the Foreign Exchange Management Act (FEMA). A probe revealed that BPTP received over Rs 500 crore in foreign investments pursuant to the “automatic route” from companies based in Mauritius during the 2007-2008 period, allegedly violating existing FEMA regulations, as per ED sources. A spokesperson for BPTP stated…

Latest StoriesResidential

Residents Push for Balcony and Extension Regulation in Noida

Representative image created by AI NOIDA: The Federation of Noida Residents Welfare Associations (FONRWA) on Monday urged the Noida Authority CEO to regularize unauthorized extensions in residential homes, including rear balconies and ground floor covers. They suggested imposing penalties if necessary and sent a letter to CEO Lokesh M. The federation emphasized that open rear balconies and ground floors pose security risks, and therefore allowing extension covers with applicable fees would be beneficial. This initiative could also help accommodate growing families, as not everyone can afford larger homes. “Today, we wrote to the CEO of the Authority, Lokesh M, requesting…