Tag: Noida

Latest StoriesRegulatory

Clear ₹118 Crore Dues This Month or Project Canceled: YEIDA

NOIDA: The Yamuna Expressway Industrial Development Authority has set a final deadline for Greenbay Infrastructure to pay its outstanding dues of ₹118 crore by the end of July. If the payment is not made, the allotment of land for a 100-acre township in Sector 22D will be canceled. YEIDA officials stated on Friday that this represents the developer’s last opportunity to settle their debts, following a previous deadline of June 30. Last month, Greenbay requested an extension of two months for the payment, citing difficulties in obtaining full land possession. According to YEIDA’s latest notice, “If Greenbay Infrastructure does not…

IndustryLatest Stories

UP Cabinet to Announce Revised Bylaws for Vertical Development

LUCKNOW: The state government is set to announce revised building bylaws designed to facilitate swift urbanization and bolster economic activities, promoting vertical development. Sources indicate that the housing department has submitted its final proposal to the government, which is anticipated to be discussed in the upcoming cabinet meeting. The updated rules will enable property owners to optimize use of available land space. Officials report that over 1,000 objections and suggestions were reviewed, with some affecting the final draft. The state has amended the building construction and development bylaws since their establishment in 2008, aiming to align with stakeholder expectations. As…

Latest StoriesResidential

100 Buyers Register at RG Luxury Homes’ Noida Camp

NOIDA: Around 100 homebuyers of the RG Luxury Homes project received their registries during a special camp organized by the Greater Noida Authority and the stamp and registration department on Wednesday. This event, held at the project site in Greater Noida West, marked the start of the registration process. Authorities have been prompted to arrange similar camps for other legacy projects to speed up the handover process. After settling 25% of their dues with the Authority, the promoter was granted permission to commence unit registration in line with state government policy. Initially launched in 2010 with a delivery date set…

Latest StoriesResidential

Sobha to Invest ₹800 Cr in Greater Noida Residential Project

Representative Image NEW DELHI: Bengaluru-based Sobha is set to invest ₹800 crore in its inaugural residential project, Sobha Aurum, located in Greater Noida. The project has gained approval from Uttar Pradesh RERA and will be established in Sector 36. Spread across 3.46 acres, the development offers a total potential of approximately 9.3 lakh sq ft. It includes two towers with 420 residential units in various configurations: 1, 2, 3, and 4 BHK. Unit sizes range from 739 sq ft for the 1BHKs to over 2,300 sq ft for the 4BHKs. Project details indicate prices starting at ₹1.12 crore for 1BHK…

CommercialLatest Stories

Noida Authority: Adani Cannot Sub-Lease Data Centre Yet

Representative Image NOIDA: The Noida Authority has decided against allowing Noida Data Centre Ltd — an Adani Enterprises subsidiary — to sub-lease its Sector 80 industrial plot until the project becomes operational. This marks a change from the Authority’s previous position, as officials emphasized they would adhere strictly to the original terms of the allotment. Officials noted that the plot, allocated to Adani in 2021, remains undeveloped, and the company has not submitted an application for map approval. They referenced Clause 14-B of the lease deed, stating that sub-leasing is permitted only after the unit has received an occupancy certificate…

Latest StoriesRegulatory

Allahabad HC Overturns Greater Noida Plot Cancellation Order

NOIDA: In a recent legal development, the Allahabad High Court has annulled two cancellation orders from the Greater Noida Industrial Development Authority (GNIDA), emphasizing that the Authority “failed to meet deadlines and adhered to faulty procedures.” One order pertained to a significant IT/ITES project in Tech Zone II, and the other addressed a group housing project in Sector 10. The rulings, issued by Justice Prakash Padia earlier this month, reinstated allotments and provided relief to developers Elevator Properties and Kinetic Buildtech. These developers challenged GNIDA’s decisions in court, claiming the Authority’s own shortcomings hindered their projects. In the first instance,…

Latest StoriesRegulatory

Noida Authority Denies Max Estates’ ₹67 Crore Waiver Request

AI-generated Representative Image NOIDA: The Noida Authority has denied a request from Max Estates Ltd to eliminate constitution change charges (CIC) amounting to approximately Rs 67 crore related to the acquisition of the halted Delhi One project in Sector 16B. These charges arise from a comprehensive shareholding shift due to insolvency proceedings and are part of the Authority’s updated unified policy announced in February. Initially, Max sought a total waiver of the CIC but later revised its proposal to pay Rs 22 crore—around 40% of the assessed fees—into an interest-bearing account under certain conditions. The Authority, however, maintained that the…

InfrastructureLatest Stories

FIR Filed Against Supertech Cape Town AOA for STP Issues

NOIDA: The Noida Authority has lodged a police complaint against the Apartment Owners Association (AOA) of Supertech Cape Town in Sector 74 for discharging untreated sewage into the sector’s drainage system. As per the guidelines set by the National Green Tribunal (NGT), high-rise developments are required to have operational sewage treatment plants (STPs) on-site. According to RP Singh, general manager (Jal) at the Noida Authority, inspections carried out on Friday revealed that the STP was not functioning according to the mandated standards. “We discovered that untreated sewage was being directly released into the drain. This poses a risk to groundwater…

Latest StoriesRegulatory

Allahabad HC Secures Registry of 220 Noida Flats After Builder’s ₹25 Crore Offer

NOIDA: The Allahabad High Court has directed the Noida Authority to proceed with the flat registries for the Grand Omaxe and Forest Spa projects in Sector 93B, facilitating 220 families in obtaining their property documents. The ruling followed the developer’s commitment to deposit an additional ₹25 crore with the Authority within two weeks, enabling the registry of 50 more flats. Previously, the company had contributed ₹93 crore under the state government’s rehabilitation scheme for stalled projects, allowing 170 flats to gain registration approval. The Grand Omaxe and Forest Spa projects feature a total of 1,692 sanctioned flats, out of which…

Latest StoriesRera

₹128 Crore Returned to 350+ Homebuyers in 2023: UP-RERA

LUCKNOW: The Uttar Pradesh Real Estate Regulatory Authority (UP Rera) has reported recovering Rs 128 crore from promoters who failed to complete their housing projects, depositing this sum into the bank accounts of approximately 376 homebuyers this calendar year. With this, UP Rera has transferred a total of Rs 1,360 crore to around 5,500 homebuyers who had not received possession of their homes. “We have issued over 12,900 recovery certificates (RCs) valued at Rs 3,900 crore, primarily in the National Capital Region (NCR). We guarantee every complainant (homebuyer) who has contacted Rera that justice will be served. They will either…