22 Aug 2023

The Ghaziabad Development Authority (GDA) is combatting illegal constructions by notifying nine banks to verify property legality before granting loans. The move comes in response to unauthorized building in GDA zone 7. The goal is to prevent multi-storey constructions on single-storey plots and deviations from sanctioned layouts. While GDA can take actions like demolition, the challenge lies in banks granting loans without checking legality. GDA directs banks to verify layout plans and cease loans for illegal properties. However, some bank officials suggest that RBI's clear directives are essential for effective change. GDA's collaboration with banks aims to ensure lawful urban development and curb unauthorized constructions.Read more

11 Aug 2023

An ongoing independent survey directed by the Meerut divisional commissioner has uncovered around 5,000 multi-storey buildings erected on single-use plots within Vasundhara township. The committee's investigation, triggered by complaints of land use violations received by the DC's office, aims to address these concerns. The forthcoming report will be submitted to the state government for action, possibly involving extensive demolitions,. Residents have expressed dismay over the impact on infrastructure, while questions arise about regulatory oversight. Officials suggest banks verify legality before granting home loans.Read more

18 Jul 2023

The implementation of recovery certificates issued by the Real Estate Regulatory Authority (UP-RERA) in Ghaziabad has been disappointingly low, with only 15% of the certificates being successfully executed. Out of 781 recovery certificates, only 117 have been reclaimed, amounting to Rs 17.3 crore. The district administration faces challenges in enforcing the certificates, especially for developers based outside their jurisdiction. Legal complexities, including cases in the National Company Law Tribunal (NCLT) and various courts, further hinder the execution process. However, alternative approaches through the Revenue Recovery Act of 1890 offer a glimmer of hope.Read more

15 Jul 2023

Residents near the Mahagun Millennia project in Crossings Republik have lodged a police complaint against the developer due to concerns over a deep pit on the construction site. The pit, filled with water from recent rains, is causing seepage and endangering nearby buildings' foundations and boundary walls. Sections of the service road and the mall's under-construction wall have already collapsed. The complaint also accuses the developer of constructing a mall without necessary approvals and violating regulations. A committee has been formed to investigate the case, and the Ghaziabad Development Authority has requested the filing of a First Information Report (FIR) against the developer and Crossings Infrastructure Pvt Ltd (CIPL) for illegal construction activities.Read more

14 Jul 2023

The Antriksh Sanskriti housing project in Ghaziabad, which has faced significant delays since 2014, will now be completed through a collaborative effort between the developer and homebuyers. The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has allowed the builder and the association of allottees to jointly undertake the completion of 985 flats in the first phase of the project. The initiative aims to address the prolonged stalling of construction and ensure timely delivery of the remaining units by June 2025.Read more

08 Jul 2023

HDFC, post-merger with HDFC Bank, is considering a one-time settlement offer from promoter DP Jain for the sale of two Radisson Blu hotels in Ghaziabad. The outstanding loan for these properties is Rs.507 crore, and the settlement offers from DP Jain and Prudent ARC are Rs.315 crore and Rs.311 crore, respectively. HDFC is currently evaluating these offers, which could result in a 61% recovery for the outstanding loan amount. The evaluation process will determine the course of action for HDFC in addressing the loan default.Read more

06 Jul 2023

The NGT-formed committee has recommended imposing penalties on 84 hotels in Ghaziabad for engaging in illegal groundwater extraction. The fines, ranging from Rs 10 to Rs 50 lakh per hotel, are calculated retrospectively for five years. Ghaziabad has experienced a significant decline in groundwater levels, with depletion of 6.1 metres in the past six years. This highlights the pressing need for sustainable water management practices in the area. The NGT is set to hear the case soon, drawing attention to the environmental impact of unregulated groundwater extraction and the importance of conserving this vital resource.Read more

05 Jul 2023

The UP cabinet has approved a proposal to levy a 'metro and RRTS cess' on developers in cities where these services are being developed, initially in Ghaziabad and Meerut. The cess will be implemented within a 1.5-kilometer radius of the metro or RapidX corridor. The decision aims to generate revenue for the cash-strapped Ghaziabad Development Authority. Developers' associations are awaiting the official notification before deciding on their response. The cabinet's approval signifies a policy decision that may extend to other districts as well. Legal challenges to the decision remain uncertain pending the notification.Read more