05 Nov 2024

Following the Supreme Court's directive, registrations for flats at Lotus 300 in Sector 107 have begun, with 16 of over 100 homebuyers successfully completing the initial phase. The court upheld an Allahabad High Court order, mandating Noida Authority to proceed with flat registrations despite pending dues from the developer, resolving a decade-long battle for buyers. Efforts to complete registrations for all units and issue occupancy certificates are ongoing, providing long-awaited relief.Read more

01 Nov 2024

The Uttar Pradesh government has introduced a new e-auction scheme for institutional plots, aiming to boost the integrated development of Greater Noida. The Greater Noida Industrial Development Authority (GNIDA) is offering 13 plots across key sectors, including KP-05, MU, ETA-02, and Techzone-4, with a total reserve price of INR 170 crore. These plots, ranging from 1,000 to 10,005 square metres, are designated for schools, hospitals, vocational training centres, and other educational institutions. Applications are open until November 18, while the scheme also includes commercial shops, offices, and kiosks.Read more

30 Oct 2024

The Uttar Pradesh government has approved two ambitious master plans for Noida and the Yamuna Expressway Industrial Development Authority (YEIDA), aiming to transform the region into a major industrial and residential hub over the next 15 years. The Noida Master Plan 2041 focuses on the expansion of the Dadri-Noida-Ghaziabad Investment Region (New Noida), covering 80 villages and accommodating 6 lakh residents, with significant land allocation for industrial, residential, and green spaces. The YEIDA Master Plan spans 226 villages, with a focus on expanding the Noida International Airport and developing aviation-related industries. Additional highlights include a logistics hub, Olympic Park, and international investment zones like a 'Korean City' and 'Japanese City.'Read more

30 Oct 2024

The stamps and registration department has proposed a 25-30% increase in circle rates for residential areas, 10% for industrial, commercial, and IT sectors, and 15% for farmland, marking the first revision in five years. This adjustment will raise property prices and stamp duty costs for buyers, aligning them with current market trends, especially in Noida and Greater Noida where property values have surged. Circle rates, used to calculate stamp duty, remained unchanged from 2020 to 2023 due to the pandemic's impact on the real estate sector. The proposed revisions aim to reflect the rising real estate prices, ensuring fair taxation and supporting market growth.Read more

29 Oct 2024

Nirala World has acquired 2.6 acres of land in Greater Noida West for INR 180 crore to develop a commercial project, possibly a mall or high street. The project will begin once UPRERA approvals are obtained. The firm recently launched a luxury residential project, 'Nirala Trio,' and has already completed the 25-acre 'Nirala Estate' development, delivering 3,600 homes, with 450 more units to be handed over soon.Read more

29 Oct 2024

The housing industry in Noida faces significant challenges, particularly with unfinished projects and unregistered flats, exemplified by the GH-1 group housing plot in Sector 120. Initially allocated in 2009 to develop 1,530 flats, 290 remain unregistered. This issue extends to 16 other projects, with developers depositing only INR 57.03 crore of the INR 740.87 crore owed, resulting in 6,152 unregistered flats. The Noida Authority has issued final notices to seven non-compliant developers, threatening referral to the Economic Offences Wing (EOW) for recovery. Proactive measures, including a two-year zero-interest period for financial relief, aim to expedite registrations and restore homebuyer confidence.Read more

29 Oct 2024

Greater Noida's real estate market is experiencing a surge in demand, as evidenced by recent auctions conducted by the Greater Noida Industrial Development Authority (GNIDA), which attracted INR 1,500 crore, far exceeding the INR 738 crore reserve price. Developers like Eldeco Infrastructure, Nirala World, Godrej Properties, and Sobha have acquired prime plots for both commercial and residential projects. Nirala World, for instance, plans a commercial project in Greater Noida West with a INR 250-300 crore budget. The region's growing appeal to major national developers signals a robust future for Greater Noida's real estate sector, with significant growth expected in both commercial and residential spaces.Read more

28 Oct 2024

The stamps and registration department hosted a special camp at Eldeco Aamantran in Sector 119, Noida, where 81 flats were registered, generating INR 2.4 crore in revenue. The developer chose not to participate in the UP-government's rehabilitation scheme due to low outstanding dues. Homebuyers expressed joy at receiving their registration papers, likening it to an early Diwali celebration. Nikhil Singhal, president of the apartment owners' association, noted that 950 out of 1,260 flats had been registered, with 310 still pending. The department plans additional camps, with the next one scheduled for October 22 at Great Value Sharanam in Sector 107.Read more

25 Oct 2024

The upcoming Noida International Airport is attracting a wave of foreign investment in the surrounding region. The Yamuna Expressway Industrial Development Authority (YEIDA) has revealed plans for three new townships and three foreign university campuses, with land allocation requests from real estate firms and educational institutions in the US, UK, Japan, South Korea, and Belgium. YEIDA also aims to create two industrial cities for Japanese and South Korean companies, alongside 11 specialised industrial clusters. To improve connectivity, a 72-km rapid rail corridor is proposed, and an "aero village" with hotels and commercial projects is also being planned near the airport.Read more

21 Oct 2024

Gaurs Group, a leading NCR-based real estate developer, plans to raise funds for a 5 million sq ft commercial project in Noida. The project, spread over 18 acres, will include 2.5 million sq ft of retail space, 2 million sq ft of A-Grade office space, a convention centre, and a hotel, requiring an INR 3,000 crore investment. Additionally, the company launched a 12-acre luxury project in Ghaziabad, selling 1,200 apartments in three days, and plans an ultra-luxury project in Noida's Jaypee Greens. Gaurs Group aims to reduce debt with INR 4,500 crore in receivables.Read more

17 Oct 2024

The Noida Authority plans to hire a consultant to oversee land assembly activities, assisting in direct land purchases and legal acquisitions under the Land Acquisition Act. With the city rapidly expanding, around 200 hectares of land are projected for assembly, though this may change as development continues. The consultant will handle all aspects of land acquisition, from identifying parcels to managing legal and administrative processes. This move underscores the Authority's focus on addressing the growing demand for land, ensuring infrastructure projects are executed efficiently to support the city's development.Read more

17 Oct 2024

The Allahabad High Court has stayed the Noida Authority's denial of construction permits to Satya Homes Pvt Ltd and others, instructing the Authority to reconsider the applications following proper legal procedures. The court highlighted that blanket restrictions without valid justification were not permissible. A fresh site inspection is to be conducted in November, with a report due by mid-November, allowing affected parties to raise objections before the next hearing scheduled for December.Read more

17 Oct 2024

The government-appointed board of directors at Unitech Group has issued a stern warning to homebuyers who are defaulting on payments, indicating that construction of their flats could be halted and allotments canceled if payments are not made promptly. After nearly a decade of stalled construction, work has resumed on several Unitech projects across cities like Noida, Gurgaon, and Bhubaneswar. However, inconsistent payment compliance is hindering progress. For example, projects in Greater Noida have seen only a fraction of the demanded payments, with some buyers opting to pay penalties rather than dues. Unitech has urged defaulting homebuyers to settle outstanding amounts or face severe consequences.Read more

14 Oct 2024

Earlier this week, 51 buyers of Amrapali Dream Valley Enchante in Greater Noida West received the keys to their long-awaited apartments, marking a significant milestone after years of delays. The NBCC began the handover process four years after taking charge of the stalled project. While some buyers celebrated their new homes, others are still awaiting possession. The Supreme Court's earlier intervention, holding Amrapali accountable for fund misappropriation, has paved the way for the ongoing completion of this project.Read more

09 Oct 2024

The groundwater department has directed the AOA of Amrapali Leisure Valley in Greater Noida West to close all private borewells within 15 days and submit a compliance report, following the discovery of 50-60 unauthorized borewells. The society, which has around 800 villas but lacks a completion certificate and a water connection from GNIDA, relies on eight shared borewells for water. Ankita Rai from the groundwater department confirmed these borewells will remain operational, while individual villa owners' borewells will be decommissioned. The AOA asserts that only NBCC, responsible for water supply, should be held accountable. Decisions on fines are pending.Read more

08 Oct 2024

The Yamuna Expressway Industrial Development Authority (YEIDA) has launched an investigation into serious allegations against senior officials regarding the improper issuance of completion certificates to ten kiosk owners who had not commenced construction. Evidence suggests these certificates bypassed standard approval procedures. Granted between May and July for kiosks in sectors 32, 22D, 20, and 17A, the certificates should have received final approval from YEIDA's CEO, Arun Vir Singh. The authority is considering revoking land allocations due to these irregularities. A dedicated committee, led by Additional CEO Shruti, will investigate the situation, aiming to restore transparency and fairness in land distribution processes.Read more

07 Oct 2024

The Yamuna Expressway Industrial Development Authority (YEIDA) is set to establish its first Software Technology Park in Sector 28, covering 100 acres and aimed at IT and IT-enabled services companies. Earlier this week, Chief Minister Yogi Adityanath announced that the IT sector would receive industry status, granting various benefits to IT firms. YEIDA is also discussing plots with major Indian IT companies, including Infosys and Wipro. Additionally, a scheme for 20 mixed-use land plots will be launched during the upcoming Navratri festival, integrating industrial, residential, commercial, and essential facilities.Read more

02 Oct 2024

The Yamuna Expressway Industrial Development Authority (YEIDA) reported a substantial revenue of INR 982.51 crore in the first half of FY25, showing an increase of over INR 200 crore compared to the same period last year. However, expenses outstripped earnings, totalling INR 1,301 crore. A large portion of the expenditure went into land acquisition, more than doubling last year's figures. The rise in revenue, particularly from group housing projects, alongside increased airport and development spending, reflects YEIDA's focus on future infrastructure growth, despite rising costs.Read more

01 Oct 2024

After a 27-year legal impasse, the Greater Noida Authority has approved the registration of 800 apartments in the Senior Citizen Home Complex Welfare Society, providing relief to homebuyers who have lived without formal ownership. The delay stemmed from internal disputes within the society, preventing the issuance of a completion certificate essential for property registration. Following intervention by Uttar Pradesh Chief Minister Yogi Adityanath in December 2023, the authority resolved the issues and issued the certificate. The process will allow homeowners to officially transfer ownership titles, marking a major milestone for residents awaiting legal ownership since 1997.Read more

01 Oct 2024

The Noida Authority has launched a comprehensive scheme to establish six new hotels across the city, catering to the growing market demand. This initiative aims to bolster the city's hospitality infrastructure and strengthen its position as a thriving commercial and tourist destination. The scheme includes plots for three budget hotels and three star-category hotels, located in strategic sectors. The allotment process will be conducted through an e-auction, and the Authority expects to generate over INR 1,000 crore in revenue from this initiative. Additionally, the Greater Noida Industrial Development Authority has introduced a scheme for BPO and ITES plots, further enhancing the city's business ecosystem.Read more