Tag: Noida

Infrastructure

NOC, registration must for extracting groundwater in Noida

Representative Image NOIDA: All industrial, commercial and infrastructural projects — including RO plants, hotels, hospitals, malls and water parks — must obtain a no objection certificate (NOC) for groundwater extraction. The administration has made it clear that strict punitive action will be taken against entities failing to register or obtain NOCs for groundwater extraction. Violators could face penalties ranging from Rs 2 lakh to Rs 5 lakh, imprisonment between six months to 1 year, or both under Section 39 of the Act, for non-compliance. GB Nagar district administration has issued strictures to regulate groundwater usage, with district magistrate Manish Kumar…

Industry

Max Estates posts net profit of ₹13.99 crore in Q4 FY25

NEW DELHI: Max Estates has reported net consolidated profit after tax of ₹13.99 during the quarter ended March 31, 2025. It had registered loss after tax of ₹4.73 in the corresponding quarter of the previous fiscal, the company said in a BSE filing. The company’s net consolidated total income stood at ₹77.30 crore in Q4 FY25, a growth of 100.52 per cent from ₹38.55 crore it recorded in the similar quarter last year. Sahil Vachani, vice chairman & MD of the company said, “In FY25, we exceeded our full-year guidance, achieving pre-sales booking value of over ₹5,300 crore. We plan…

Rera

Uttar Pradesh RERA warns builders not to hand over incomplete flats to buyers

NOIDA: UP Rera has warned developers not to hand over incomplete, or ‘canvas flats’, to homebuyers, and violating this rule could attract large sums of penalties. The notice, issued on May 8, came in response to complaints from homebuyers, who allege that developers are forcing them to take possession of bare-shell units – which are often devoid of proper flooring, electrical fittings, plumbing and kitchen furnishings – while signing the builder-buyer agreements (BBA). Rera said in the notice that such practices were a serious breach of the Real Estate (Regulation and Development) Act, 2016, which mandates that ready-to-move-in apartments can…

Regulatory

No protest within a 100 meter radius of Jaypee Infratech’s main office: Noida court

NOIDA: A local court has ordered a 100-metre protest-free zone around Jaypee Infratech’s headquarters in Sector 128, prompting reactions from homebuyers who claimed they could no longer voice their grievances at the company’s doorstep. Civil judge Mayank Tripathi granted the interim relief to Jaypee Infratech Ltd (JIL) — now under Suraksha Group’s management — on Friday, noting that the defendants were served summons but failed to appear or submit objections. The ex-parte order drew sharp criticism from homebuyers, who accused the developer of misusing the legal process to suppress ‘legitimate concerns’ over their flats that have been stalled for more…

Commercial

Uttar Pradesh government’s GCC policy to position Noida, Lucknow, Varanasi as tech hubs

LUCKNOW: The Uttar Pradesh government on Sunday said its Global Capability Centres (GCC) Policy 2024 focusses on attracting Fortune 500 companies and boost foreign direct investments, and aims to turn cities like Noida, Lucknow, Kanpur, and Varanasi as into hubs of technology and digital services. The policy outlines an ambitious plan to generate over 2 lakh high-paying jobs over the next five years, the state government said in a statement. Special incentives will be offered to attract investment from top global corporations. It will not only accelerate Uttar Pradesh’s economic growth, but will also open doors to a wide array…

Commercial

YEIDA will power up ₹450 crore tech hub near Noida airport

NOIDA: Yamuna Expressway Industrial Development Authority (YEIDA) has started the process to hire a consultant for designing and managing the infrastructure development of Sector 10, where a tech hub is planned at an estimated cost of over Rs 450 crore. The cluster, located near Noida International Airport, will be developed across 206 acres. A senior YEIDA official said, “This project will not only create a robust electronics hub but also generate employment at scale.” The entire cluster is scheduled to be completed by Jan 31, 2028. Officials expect it to create over 11,000 direct jobs and approximately 20,000 indirect (total…