Tag: Noida

Latest StoriesRegulatory

HC Seeks Noida’s Response to SC Order on Land Payment

NOIDA: The Allahabad High Court has requested clarification from the Uttar Pradesh government and Noida Authority regarding compliance with the Supreme Court’s July 10, 2024, ruling mandating compensation to landowners under the 2013 Land Acquisition Act. A division bench consisting of Justices Mahesh Chandra Tripathi and Kunal Ravi Singh has sought information about whether the compensation has been reassessed and issued according to the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013, which generally offers higher payments including revised market value, solatium, and interest. The Noida Authority acquired land for industrial development under the…

Latest StoriesRegulatory

FIR Filed Against Builders After Techie Drowns in Noida Pit

NOIDA: An FIR has been filed against two builders who own the water-filled pit in Sector 150, where a 27-year-old software engineer drowned after his SUV crashed through a damaged boundary wall around midnight on Friday. According to police, the plot lacked proper security measures like a boundary wall, fencing, or reflectors, making it hazardous during the dense fog. ACP Hemant Upadhyay stated that the case was lodged with Knowledge Park police following a complaint from Yuvraj Mehta’s father. Charges under sections 105 (culpable homicide), 106 (causing death by negligence), and 125 (act endangering life) of BNS have been filed…

IndustryLatest Stories

M3M, Smartworld, ELIE SAAB Partner on ₹3,500-Crore Housing in NCR

NEW DELHI: M3M India and Smartworld Developers have partnered with ELIE SAAB, a prominent fashion and lifestyle brand, to create two ultra-luxury residential projects in the Delhi-NCR region, totaling an investment of approximately ₹3,500 crore. The projects represent ELIE SAAB’s inaugural entry into the Indian real estate market. M3M India will oversee a luxury housing project in Gurugram, while Smartworld Developers will lead a separate residential development in Noida. In Gurugram, M3M India intends to build around 300 apartments in sector 111, within the Smart City Delhi Airport (SCDA) zone. The project will feature spacious four-bedroom residences with unit sizes…

IndustryLatest Stories

BOOTES Expands into Residential Development

NEW DELHI: BOOTES, an engineering firm, has introduced its real estate division, boasting a portfolio valued at over ₹6,300 crore. The company will kick off its real estate initiatives with projects in Noida, Alwar, and Vrindavan, totaling more than six million sq ft of initial saleable area. In Noida, BOOTES is constructing high-rise residential complexes in Greater Noida West and sector 76, featuring 4BHK residences and duplex penthouses. In Alwar, they have launched a residential project offering 2BHK and 3BHK residences. Future expansion plans include cities such as Mumbai, Lucknow, Ayodhya, Dehradun, Kurukshetra, Jhansi, Chitrakoot, and Prayagraj. Published On Jan…

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Noida Authority Extends Rehab Lifeline for Builders with Dues

NOIDA: The Noida Authority has decided to continue the Uttar Pradesh government’s rehabilitation policy for stalled real estate projects, extending its benefits to developers who have not yet paid the required 25% of their recalculated dues. This move brings fresh hope to thousands of homebuyers awaiting the completion and registration of their flats. Initially, the Authority planned to withdraw benefits from non-compliant developers, but reversed its decision during a board meeting on January 3. They opted to maintain the state government’s directive from December 2023 aimed at reviving legacy stalled projects. Authority CEO Lokesh M stated that while the policy…

Latest StoriesResidential

Suraksha Group finishes 5,989 units in 63 towers

NEW DELHI: Suraksha Group, which took over Jaypee Infratech (JIL) in 2024, has successfully finished construction on 5,989 units across various projects in JIL Wish Town. The company has received occupancy certificates (OCs) for 31 towers, totaling 3,135 units. Suraksha Group has also applied for OCs for an additional 32 towers across several projects, including Kosmos, Klassic, Kensington Boulevard Apartments, Kensington Park Apartments, Kensington Park Heights, and Pebble Court, which collectively comprise 2,854 units. Jash Panchamia, Executive Director of Jaypee Infratech Limited, stated, “We are committed to adhering to the timeline specified in our resolution plan. Our efforts are reflected…

CommercialLatest Stories

UP Announces Subsidy Guidelines to Attract GCCs

LUCKNOW: The Yogi Adityanath government aims to position Uttar Pradesh as a prime destination for Global Capability Centres (GCCs) by announcing comprehensive standard operating procedures (SOPs). These SOPs, recently approved by the state cabinet, outline regional incentives to promote balanced industrial growth across the state. Under this initiative, GCCs establishing operations in Gautam Budh Nagar and Ghaziabad can benefit from a 30% land subsidy on purchases from government agencies. In other parts of Paschimanchal (excluding the aforementioned areas) and the Madhyanchal region, a 40% subsidy is available. To encourage investment in less developed regions, the state offers subsidies of up…

Latest StoriesRegulatory

NGT grants Greater Noida a month to report on illegal constructions

NOIDA: After being requested by the National Green Tribunal (NGT) five months ago to provide an action taken report on illegal constructions in Greater Noida, the Greater Noida Development Authority has not complied. The tribunal has now set a one-month deadline for the Authority to file an affidavit, with the next hearing scheduled for April 8. A former municipal corporator, Rajendra Tyagi, filed a petition in 2021 concerning illegal constructions in Noida and Greater Noida, highlighting that unauthorized residential colonies and commercial establishments were extracting groundwater illegally and discharging sewage openly. Tyagi’s attorney, advocate Akash Vashishta, noted that a July…

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Shree KB Realty Acquires 3-Acre Land in Greater Noida for ₹122 Cr

Representative AI image NEW DELHI: Shree KB Realty, a real estate firm, has acquired a 3-acre plot in Greater Noida for ₹122 crore via auction to develop a commercial project. The company announced on Thursday that it secured a land parcel measuring 12,000 square meters (approximately 2.97 acres) for ₹122 crore, which includes lease rent and stamp duty. The land, situated in Greater Noida West, was obtained through an auction held by the Greater Noida Authority. Rakesh Singhal, founder of Shree KB Group, stated, “We plan to construct a commercial project on the purchased land, featuring a built-up area of…

Latest StoriesRegulatory

ED seizes ₹400 crore in assets linked to Jaypee Group fraud

NEW DELHI: The Enforcement Directorate (ED) announced on Wednesday that it has attached assets worth ₹400 crore linked to a trust associated with former Jaypee Infratech MD Manoj Gaur, as well as with Honeyy Katiyal, the promoter of leading housing brokerage Investors Clinic. This action, under the Prevention of Money Laundering Act (PMLA), is part of an investigation into Jaypee group companies—Jaypee Infratech Ltd (JIL) and Jaiprakash Associates Ltd (JAL)—involving allegations of large-scale fraud and misappropriation of funds collected from homebuyers of the Jaypee Wishtown and Jaypee Greens projects in Noida. According to the ED, a provisional order has been…