Tag: Uttar Pradesh

IndustryLatest Stories

Noida Airport to Drive Real Estate Growth in NCR, Yamuna Expressway

Representative AI image NEW DELHI: On Saturday, Prime Minister Narendra Modi inaugurated phase-I of the Noida International Airport in Jewar, at an estimated cost of ₹11,200 crore. This initiative is expected to significantly transform the real estate landscape of the National Capital Region (NCR). The airport, situated along the Yamuna Expressway, aims to enhance connectivity in western Uttar Pradesh and the NCR, linking important urban and industrial centers such as Noida, Greater Noida, Ghaziabad, Agra, and Aligarh. Modi noted that the project represents a pivotal advancement in Uttar Pradesh’s development and will bolster India’s aviation capabilities. He stated, “Airports are…

IndustryLatest Stories

U.P. Cabinet Approves Ordinance for Easier Land-Use Change

LUCKNOW: On Monday, the state cabinet approved an ordinance to amend Section 80 of the Uttar Pradesh Revenue Code, 2006. This amendment simplifies the land-use conversion process in areas governed by development authorities, industrial authorities, regulated zones, and the UP Housing and Development Board. Finance Minister Suresh Khanna stated that this change removes the necessity for a separate land-use conversion application when shifting land from agricultural to non-agricultural use. Khanna explained, “Once a building plan is approved by the relevant authority, it will automatically be recognized as land-use conversion.” An official highlighted that the previous system involved a two-step process:…

Latest StoriesRegulatory

Uttar Pradesh Stamps Dept Launches Revenue Boost Campaign

LUCKNOW: As the financial year approaches its conclusion, the Stamp and Registration Department has initiated a statewide campaign aimed at increasing revenue. This includes expediting the registration of unregistered properties, resolving pending stamp cases, and recovering outstanding stamp duties. The department is also reviewing stamp rates to adjust the minimum market value of properties. An official stated that unregistered properties from development authorities, the Housing Development Council, UPSIDC, and other institutions are being prioritized for registration. Additionally, the department is evaluating projects from development authorities and government agencies to ensure timely stamp duty payment. In Gautam Budh Nagar, it’s anticipated…

Latest StoriesResidential

Uttar Pradesh Introduces OTS Scheme for Property Defaulters

LUCKNOW: The housing development authorities in Uttar Pradesh are set to introduce a one-time settlement scheme aimed at allowing defaulters the opportunity to settle their debts. The cabinet has given the green light for this scheme, which is designed to stimulate the real estate market and recover overdue payments from buyers who owe money to organizations such as the Lucknow Development Authority and Kanpur Development Authority. This scheme will be applicable for settling debts that have accrued from the purchase of various types of properties, including residential, commercial, mixed-use, and institutional sectors. Currently, there are 18,982 pending default cases with…

InfrastructureLatest Stories

UP allocates ₹425 crore for townships in 8 cities

LUCKNOW: The Uttar Pradesh government has allocated ₹425 crore for the development of new townships in eight major cities. Under the Chief Minister’s New Township Scheme, development authorities submitted proposals for funding to the state government. This allocation will act as seed capital for townships in Bareilly, Varanasi, Orai, Chitrakoot, Banda, Pratapgarh, Ghazipur, and Mau. The initiative aims to promote organized development in response to the rapidly expanding urban population and to offer improved housing options for residents. The government will provide up to 50% of the costs related to land acquisition as seed capital, available for a maximum duration…

Latest StoriesResidential

Ownership Verification Required Before Property Registration in UP

LUCKNOW: On Tuesday, the Cabinet made a significant decision regarding property sales registration, mandating the stamp and registration department to verify property ownership details prior to registration. Ravindra Jaiswal, the Minister of State (Independent) for Stamp and Registration, stated that new rules will soon be established to require verification of ‘khatauni’ (land records) and ownership documents before registration, aiming to eliminate fraudulent or contested land registrations. “We have encountered multiple instances where properties are sold by individuals who are not the legitimate owners, including prohibited or restricted properties, properties sold beyond legal ownership rights, and even those owned by the…

Latest StoriesResidential

Uttar Pradesh Cabinet Greenlights Affordable Housing Policy

LUCKNOW: On Tuesday, the state cabinet approved a new policy to implement affordable housing initiatives under the Pradhan Mantri Awas Yojana-Urban 2.0, including affordable housing in partnership (AHP) and affordable rental housing (ARH) components. The initiative aims to provide accessible housing for middle-income and economically weaker sections of society. Beneficiaries will receive financial aid of Rs 1.5 lakh from the Centre and Rs 1 lakh from the state government. Additionally, developers of approved projects will benefit from exemptions on land-use change charges, map approval fees, and external development fees. Beneficiaries will also enjoy reduced stamp duty rates. Under the ARH…

InfrastructureLatest Stories

Cabinet Approves ₹3,630.77 Cr for Jewar Airport Road Connectivity

NEW DELHI: On Tuesday, the Cabinet approved a revised total capital expenditure of ₹3,630.77 crore for the development of road connectivity to the forthcoming Jewar International Airport in Uttar Pradesh. The proposed 31.42-kilometer corridor will offer direct, high-speed connections from South Delhi, Faridabad, and Gurugram to the airport, boosting economic growth and logistics efficiency across the National Capital Region (NCR), according to an official statement. The Cabinet Committee on Economic Affairs (CCEA), led by Prime Minister Narendra Modi, has endorsed a revised budget of ₹3,630.77 crore for creating greenfield connectivity to the airport via the Delhi-Faridabad-Ballabhgarh-Sohna Spur of the Delhi-Mumbai…

InfrastructureLatest Stories

Jewar Airport Set to Open Soon, Says Civil Aviation Minister

NEW DELHI: The government announced on Monday in the Rajya Sabha that the Jewar airport in Uttar Pradesh has received its aerodrome license and will be inaugurated shortly. In response to questions about the Noida International Airport at Jewar during Question Hour, Minister for Civil Aviation, Kinjarapu Rammohan Naidu, stated that there is a typical timeframe of 45 days to two months from the issuance of the aerodrome license to the commencement of actual flight operations. “I’m pleased to share that the first aerodrome license has been granted by the DGCA following extensive consultations with institutions such as the Airport…

IndustryLatest Stories

Uttar Pradesh: Water Bodies Required for 10-Acre Projects

Representative AI image LUCKNOW: The housing department has mandated that construction firms and individuals undertaking residential, commercial, mixed-use, or other real estate projects of 10 acres or more must allocate 1% of the land for a waterbody. This initiative aims to enhance groundwater recharge, as the water from the reservoir will be recycled for non-potable purposes like cleaning, green maintenance, and dust suppression. While existing provisions for rainwater conservation in group housing projects are present, incorporating a waterbody in the layout will facilitate water diversion and recycling for diverse daily needs. Senior officials from the department emphasized their goal of…