30 Sep 2024

The Yamuna Expressway Industrial Development Authority (YEIDA) has introduced a housing scheme in Sector 22D, strategically located near the Noida International Airport, Film City, and Toy Park. This initiative offers 1,239 flats across three categories, with prices ranging from INR 21 lakh to INR 45 lakh, available on a first-come, first-served basis. Bookings commenced on September 19 and will continue until March 31, 2025. Notably, 17.5% of the flats are reserved for farmers affected by land acquisition for development. The project promises excellent connectivity to key economic hubs and attractions.Read more

27 Sep 2024

The Enforcement Directorate's Lucknow unit conducted extensive raids on multiple premises linked to former Noida CEO Mohinder Singh and various builders as part of a money laundering investigation. Following the Allahabad High Court's directives, the ED focused on Hacienda Projects Private Limited (HPPL) and its promoters, who allegedly diverted investors' and home buyers' funds, failing to deliver promised flats. During the searches, assets worth approximately INR 4.256 billion were seized, including cash, gold, diamond jewelry, and property documents, highlighting the significant scale of the alleged fraud affecting home buyers of the Lotus 300 Projects in Noida.Read more

25 Sep 2024

The Uttar Pradesh government recently greenlit the ambitious YEIDA Master Plan 2041, set to transform the region surrounding the Noida International Airport in Jewar. Covering 3,352 sq km across six districts, the plan includes mega projects such as a medical device park, semiconductor park, olympic park, and an aerotropolis. With zoning reforms and enhanced infrastructure, the plan aims to balance industrial growth with urban development, positioning the region as a global hub.Read more

25 Sep 2024

The Yamuna Expressway Industrial Development Authority (YEIDA) has launched a new housing scheme offering over 1,200 affordable flats in Sector 22D, near the upcoming Noida International Airport. The scheme includes 1BHK and 2BHK units, with various pricing options and flexible payment plans. Possession is granted after a minimum payment of 30% of the total premium, and an Apartment Owners Association will manage maintenance after two years. Strict guidelines ensure the flats are used for residential purposes, highlighting the importance of compliance for potential homeowners.Read more

24 Sep 2024

The Noida Metro Rail Corporation (NMRC) has issued an expression of interest (EOI) for the commercial development of three plots totalling 44,151 square metres near the Okhla Bird Sanctuary metro station. The EOI aims to attract experienced firms and institutions skilled in commercial real estate, covering areas like project management and financing. The plots, designated for commercial use under the Noida Master Plan and Building Byelaws 2010, are available for lease for up to 60 years. Developers are expected to create buildings designed to last at least 100 years.Read more

23 Sep 2024

The Noida Authority has identified around 1,200 plots across various categories for upcoming schemes. In a recent meeting led by CEO Lokesh M, it was revealed that 1,190 plots remain vacant, spanning industrial, residential, commercial, group housing, and institutional uses. The Authority aims to allocate 5.5 lakh square meters (135 acres) of land in the current fiscal year, with specific areas designated for each sector. Anticipated revenue generation is INR 3,795 crore, mainly from group housing (INR 1,080 crore) and commercial sectors (INR 1,010 crore). This strategic land allocation reflects Noida Authority's efforts to stimulate regional growth while addressing underused plots to boost economic development.Read more

20 Sep 2024

Unitech is set to resume its long-delayed housing projects in Noida following the Noida Authority's approval of a revised layout in June 2023, per a Supreme Court directive. Last week, a bhoomi puja was conducted for the Express City project in sectors 96, 97, and 98. The revised plan includes seven towers in Amber, seven in Burgundy, and 397 plots in The Willows, with a mix of residential, recreational, and institutional spaces. Unitech aims to complete these projects within 26 to 36 months, addressing delays and rebuilding buyer confidence.Read more

19 Sep 2024

The Noida International Airport, initially set to open in September, is now projected to commence operations by April 2025 due to steel procurement delays. During a review meeting, Chief Minister Yogi Adityanath emphasized resolving construction issues at the government level and warned of a daily INR 1 million fine on the airport concessionaire, YIAPL, if further delays occur. With land acquisition for Phase 2 underway, the project's completion remains a priority, focusing on connectivity, infrastructure readiness, and addressing farmer concerns. The airport's phased development aims to enhance regional growth and connectivity.Read more

16 Sep 2024

Noida Authority recently sealed Omaxe Buildhome's Grand Omaxe housing society in Sector 93B due to non-payment of INR 457.8 crore in dues. The developer failed to pay 25% of the recalculated dues, approximately INR 114.4 crore, even after receiving relief under the Covid-19 relief package. Noida Authority CEO Lokesh M stated that the developer had ignored multiple notices before the property was sealed. The Authority also plans to seal unsold flats and vacant land at other projects. Of 57 defaulting projects, only 22 have accepted the rehabilitation package, with 29 developers owing around INR 6,900 crore.Read more

13 Sep 2024

ATS Realty, a prominent developer, has recently cleared INR 130 crores in outstanding dues to the Yamuna Expressway Industrial Development Authority (YEIDA), enabling the commencement of a 100-acre township development near the upcoming Noida International Airport. This payment was made in accordance with the Amitabh Kant committee's recommendations, which granted developers a deadline of August 31st to clear 25% of their outstanding dues and additional farmer compensation. The committee's report is seen as a significant step towards reviving stalled projects and boosting investor confidence in the sector. A revival in the housing and construction sector is also vital for boosting the overall economy.Read more

13 Sep 2024

The Greater Noida Industrial Development Authority (GNIDA) recently auctioned three residential plots for INR 521 crore, exceeding the reserve price of INR 262 crore. Eldeco Infrastructure, Prasu Infrabuild with Divyansh Infraheight, and Purvanchal Projects secured these plots. This follows a successful e-auction where GNIDA sold five land parcels for INR 1,500 crore. Eldeco has been particularly active, acquiring multiple land parcels in Noida, Gurgaon, and Sonipat. The company recently secured INR 350 crore in funding from HDFC Capital Advisors, bringing their joint platform's corpus to INR 850 crore. Eldeco Group has completed 200 projects and currently has 30 more in various stages of development.Read more

12 Sep 2024

The Sports City project in Noida, Sector 150, was halted in 2021 after a Comptroller and Auditor General (CAG) audit highlighted several issues with the land allotment process. The concerns raised by the CAG led to the suspension of the project, which has remained on hold since then. According to officials, the Noida Authority is now reviewing the project and considering its future progress. The Noida Authority plans to discuss it in an upcoming board meeting, where a final decision may be made on whether to lift the ban and resume work on the Sports City development project.Read more

11 Sep 2024

Eros Group is investing INR 400 crore to advance the development of Phase 3 of its Eros Sampoornam residential project in Greater Noida. Spanning 21,728 square metres, the project includes 11 towers with luxurious 2 and 3 BHK apartments. The company has already sold inventory worth INR 200 crore, reflecting strong buyer confidence. Located near the upcoming Aqua Line metro station, the project offers state-of-the-art infrastructure and modern amenities, including a gated community and a sophisticated community centre. Eros Sampoornam 3 promises to elevate living standards, blending luxury, comfort, and strategic convenience for its residents.Read more

11 Sep 2024

The Allahabad High Court has directed the Noida Authority to maintain the status quo regarding a demolition notice in Wajidpur village until the petitioners' objections are resolved. The petitioners argue that the land was previously declared as abadi land and that the new notice could lead to eviction and demolition without considering their concerns. The court has instructed the Authority to address these objections within six weeks while ensuring all stakeholders are heard. This decision highlights ongoing conflicts over land use and authority jurisdiction in Noida's urban development efforts.Read more

11 Sep 2024

The Noida Authority is considering reaching out to the Economic Offences Wing (EOW) regarding developers who have not utilised the UP-government's rehabilitation package for stalled residential projects. Of 57 defaulting projects, 22 have accepted the package, which provides a two-year zero-period relief from April 2020 to March 2022. The remaining 29 developers, owing about INR 6,900 crore, are ineligible for this relief. Following recent directives from CM Yogi Adityanath, disciplinary actions will be enforced against non-compliant developers. Currently, 28 projects have recalculated dues of INR 1,020 crore, while 29 non-compliant builders face dues of INR 6,900 crore.Read more

10 Sep 2024

The Greater Noida Industrial Development Authority (GNIDA) has unveiled a new scheme offering 22 commercial plots, ranging from 1,500 to 19,000 square metres, through an e-auction. With the upcoming Noida International Airport driving land demand, this initiative presents a rare opportunity for realtors. Registrations began on 29 August 2024 and will close on 19 September 2024. The plots, located in prime sectors, vary in Floor Area Ratio (FAR), offering flexibility in development. Allotments will be leasehold for 90 years, with the revenue directed towards Greater Noida's infrastructure development.Read more

09 Sep 2024

The Noida Authority is set to revise building regulations to tackle land shortages by increasing the Floor Area Ratio (FAR) from 2 to 2.5 in industrial sectors. This change, impacting plots on roads wider than 24 meters and smaller industrial sites, aims to optimize land use and support vertical growth. The new FAR regulations also extend to IT and IT-enabled services (ITES) plots. This initiative seeks to enhance industrial capacity and accommodate Noida's rapid development, balancing economic expansion with sustainable urban planning. Public feedback will shape the final amendments, marking a crucial step in Noida's growth strategy.Read more

06 Sep 2024

Trehan IRIS has teamed up with Marriott International to introduce the Courtyard by Marriott brand to Greater Noida West, marking its debut in the Noida region. This new hotel, part of the Iris Broadway Greno West project, will feature 135 rooms, banquet facilities for over 2,000 guests, and amenities like a swimming pool, terraces, and an all-day dining restaurant. The project, including retail and office spaces, represents a INR 400 crore investment and is expected to be operational by 2027. Designed by Benoy, it spans 3.4 acres and will include a high-rise office tower and various upscale features.Read more

06 Sep 2024

The Supreme Court has cleared the way for the NBCC, a public sector undertaking, to construct nearly 8,000 additional apartments in six of the 24 stalled Amrapali projects in Greater Noida and Noida. The funds generated from the sale of these flats will be used to recover project costs and clear the dues owed by the bankrupt real estate developer Amrapali to the Noida and Greater Noida authorities. Amrapali had declared bankruptcy in 2017 and abandoned the 24 projects, leaving thousands of homebuyers in the lurch. The Supreme Court has allowed NBCC to pay INR 743.16 crore to the authorities for a higher floor area ratio (FAR) to expedite the construction work.Read more

05 Sep 2024

The Noida Authority plans to reclaim 13 acres of a 24-acre plot in Sector 144, originally allotted to Unitech Group in 2011 for residential development but left undeveloped. The land is not part of an ongoing Supreme Court case involving Unitech's unfinished projects, enabling the Authority to cancel the allotment. Despite a proposal from Unitech to build new towers and houses on the vacant land to fund its incomplete projects, the Authority opposed it. A final decision from the Supreme Court is awaited to determine whether the Authority can proceed with reclaiming the land.Read more