17 Jul 2024

The Greater Noida Authority is auctioning five plots of land to raise at least INR 500 crore (approx. USD 61.7 million USD) and create around 8,000 new apartments. The online auction begins on July 2nd, with 99,000 square metres available across plots ranging from 3,999 to 30,470 square metres. Highlighting Greater Noida's green spaces, infrastructure, and NCR connections, the Authority aims to attract developers. Registration ends on July 23rd, with final document submissions due by July 29th. Successful bidders will gain immediate land possession, potentially transforming the city's housing landscape.Read more

16 Jul 2024

GNIDA launched a new builder plot scheme in Greater Noida to offer land parcels across five sectors for residential development. These plots totaling around 99,000 square meters can accommodate approximately 8,000 new apartments. With easy access to major transportation routes like the Yamuna Expressway and EPE, and future connectivity to the Noida International Airport in Jewar, the scheme is seen as a strategic move to address the rising housing demand in the area. The e-auction-based selection process, with bids starting from INR 48,438 per square meter, aims to attract developers and stimulate growth in Greater Noida's real estate sector.Read more

16 Jul 2024

The Uttar Pradesh government has initiated Phase II of the Noida International Airport project, acquiring land for the airport including maintenance, repair, and overhaul hub. They aim to acquire 1365 acres, mainly from Karauli Bangar, Dayanatpur, Kuraib, Ranhera, Mudharh, and Beerampur, at a cost of INR 4,898 crores. So far, 237 hectares have been taken from Birampur, Dayantpur, and Mudharh. Compensation distribution is nearly complete, with plans to relocate 13,000 affected families to Falaida Bangar and Modalpur. Yamuna International Airport Pvt Ltd. plans test flights by November, aiming for commercial operations by April 2025.Read more

15 Jul 2024

Noida and Greater Noida are witnessing a dramatic transformation into premium real estate hubs, driven by infrastructure projects like the Jewar international airport and improved connectivity. A JLL report reveals a robust market with 14,822 flats sold for INR 24,944 crore in 2023, with apartments priced at INR 3.5 crore and above constituting 23% of total sales. Rising by 23% year-on-year, property prices in key sectors like 108 and 144 have surged, reflecting a booming market. With Fortune 500 companies boosting job opportunities, these cities offer a blend of luxury living and affordability, attracting investors and homebuyers alike.Read more

15 Jul 2024

The Yamuna Expressway Industrial Development Authority (YEIDA) is acquiring an additional 1,861 hectares (4,600 acres) near Tappal, Aligarh, to support industrial and manufacturing projects around the upcoming Noida International Airport. This expansion aims to counter unauthorised developments hindering progress on the 2,597 hectares (6,420 acres) of designated land. Key projects include a 950-hectare (2,347-acre) multimodal logistics park with an INR 990 crore investment. YEIDA CEO Arun Vir Singh emphasised the urgency to address illegal constructions and secure the area, ensuring Tappal's development into a significant industrial hub in western Uttar Pradesh.Read more

12 Jul 2024

Arun Vir Singh has been reappointed as CEO of Yamuna Expressway Industrial Development Authority (YEIDA) and Noida International Airport Ltd (NIAL) until December 31, 2024. This marks his sixth extension since retiring from the Indian Administrative Service (IAS) in June 2019. With over 37 years of experience, Singh has been pivotal in advancing key infrastructure projects in the Noida region, including the Noida International Airport, which is set to cost INR 5,700 crore and serve 12 million passengers annually. Singh also oversees the development of industrial parks and a high-speed rail project, reflecting the government's confidence in his leadership and vision for regional growth.Read more

12 Jul 2024

The Noida Authority has recently granted layout map approvals for several unfinished housing projects by the Unitech Group, providing relief to over 5,500 buyers whose homes were stalled. This decision follows a Supreme Court directive in April 2024, prioritizing completion of projects where flats have already been allotted. The approved projects cover 246 acres with partially built structures, while another 197 acres of undeveloped land remain for future considerations. Construction is set to restart pending environmental clearances, with Unitech aiming for timely completion, contingent on funding and other approvals. The focus remains on delivering homes to awaiting buyers across sectors 96, 97, 98, 113, and 117 in Noida.Read more

05 Jul 2024

Vivo, a smartphone brand in India, is set to inaugurate a colossal manufacturing facility in Greater Noida, with an investment of INR 23,000 crore. This state-of-the-art plant will boast an annual production capacity of 120 million devices, rivalling Samsung's existing facility. Vivo is actively seeking an Indian joint venture (JV) partner, engaging in discussions with industry giants like Tata Group and Dixon Technologies. Despite valuation disagreements, Vivo's commitment underscores Noida's emergence as a hub for electronics manufacturing. With significant investments from global players, including Samsung and LG, Noida is poised to advance India's capabilities in smartphone production on a global scale.Read more

04 Jul 2024

The Yamuna Expressway Industrial Development Authority (YEIDA) has revoked land allotments for Sunworld Infrastructure and Supertech Township in Sector 22D along the Yamuna Expressway, citing unpaid dues totaling INR 302.14 crore. Sunworld Infrastructure owed INR 164.86 crore, while Supertech Township had outstanding dues of INR 137.28 crore. This decision, announced after YEIDA's 81st board meeting, underscores YEIDA's commitment to fiscal discipline and project accountability amidst critical developments near the upcoming Noida International Airport and proposed Film City. As developers like ATS Realty and Greenbay Infrastructure negotiate dues, YEIDA's actions highlight regulatory challenges and financial obligations shaping Greater Noida's real estate landscape.Read more

03 Jul 2024

The Uttar Pradesh Cabinet has approved a detailed project report for extending the Noida Metro's Aqua Line from Sector-142 to Delhi Metro's Botanical Garden station, costing INR 2,254.35 crore. The 11.56-kilometer extension will feature eight new stations, enhancing connectivity and urban mobility across Noida. This project is anticipated to boost the real estate sector, with increased property demand and potential value appreciation in sectors 44, 93, 97, 105, and 108. With an estimated initial ridership of 80,000 commuters, the extension promises seamless interchange between the Aqua and Blue Lines, directly connecting to Indira Gandhi International Airport via the Magenta Line.Read more

03 Jul 2024

Greater Noida West, home to over 3 lakh residents, is struggling with dissatisfaction over a newly announced sub-registrar's office located several kilometres away in Dadri. Dubbed "Dadri 2," this office aims to handle property registrations for 26 sectors in Greater Noida West and 28 nearby villages. However, poor public transport between Greater Noida West and Dadri makes the journey inconvenient and costly, especially for those without vehicles. Although the Uttar Pradesh government initially planned a closer office, protests from Dadri lawyers led to the current location. Officials are considering special registry camps in high-rise buildings as a potential solution.Read more

02 Jul 2024

The Noida Authority has issued notices to 13 real estate developers, demanding settlement proposals for their outstanding dues, which total over INR 8,510.69 crore, including interest and penalties. The major developers involved are ATS Group (INR 7,786.06 crore), Supertech Group (INR 3,064.72 crore), and Logix Group (INR 1,113.24 crore). This move aims to resolve the longstanding issue of flat registration, crucial for ownership and financial leveraging. A recent Uttar Pradesh government order incentivises developers to clear dues by waiving interest and penalties, potentially easing financial strains for both developers and homebuyers. The coming weeks are critical for the success of this initiative.Read more

28 Jun 2024

Greater Noida residents are set to experience a significant improvement in their city's infrastructure following the unveiling of a INR 73 crore development plan by the Greater Noida Industrial Development Authority (GNIDA). Key highlights include a INR 7 crore project to resurface a critical 4.5-kilometer road stretch and the installation of INR 6.85 crore worth of LED lights across village plots to enhance safety. Beautification projects, including an open gym and road enhancements, form part of the initiative aimed at creating a more visually appealing and functional urban environment. With swift tendering processes underway, GNIDA is poised to expedite these enhancements for the benefit of its residents.Read more

26 Jun 2024

The Enforcement Directorate (ED) has launched an inquiry into the Noida Authority's allocation of land worth INR 3400 crore to entities within the ATS Group, amidst delays and issues plaguing homebuyers in Noida. Seeking clarity on transaction processes and payment records, the investigation aims to uncover any financial discrepancies or project execution irregularities. With scrutiny also focused on legal complaints and allotment statuses, the ED's initiative signals a push for transparency and accountability in real estate dealings. This development offers optimism for resolving long-standing issues, potentially paving the way for solutions to homebuyers affected by ATS Group's stalled projects and financial challenges.Read more

25 Jun 2024

The Greater Noida Industrial Development Authority (GNIDA) board has approved a 5.30% increase in land allocation rates for 2024-25, driven by upcoming projects like the Greater Noida West Metro and Multimodal Logistics Hub. This increase applies to industrial, residential, commercial, institutional, and builder properties, effective April 1. The board also approved revised lease rent payments, increased Floor Area Ratios near the Metro route, and extended deadlines for lease deed execution and completion certificates, aiming to support regional growth and property demand.Read more

25 Jun 2024

GNIDA is set to open an exhibition-cum-convention centre in Sector Chi in a planned city 45 km away from Delhi. The convention centre will also facilitate hospitality and hotel facilities for visitors and exhibitors. According to officials, with the first phase of Noida International Airport to be unveiled in December, demand for such a facility will increase. In the same meeting, the authority approved the construction of a Gati Shakti Cargo Terminal in Dadri, for logistics and handling of rail cargos. This project will help to boost investments and handle cargo efficiently across the country.Read more

21 Jun 2024

The Yamuna Expressway Industrial Development Authority (YEIDA) plans to develop a new city on 6,065 hectares of land acquired from 40 nearby villages over the next two years. The authority aims to spend INR 63,000 crore to build infrastructure like roads, parks, utilities across sectors. A budget of INR 14,000 crore has been set aside for land acquisition. The new city will have sectors dedicated to various countries and industries such as a Fintech City and industrial parks for EV, plastics and more. YEIDA is also planning to revise its e-auction policy for land allotment and project contracts, whereby the auction or tender will be cancelled if only one bidder remains after the third round.Read more

20 Jun 2024

The Confederation of Real Estate Developers Association of India NCR (CREDAI-NCR) is promoting a regulation aimed at expediting project completion and handover of flats in Noida. Under this regulation, if developers apply for an Occupation Certificate (OC) or Completion Certificate (CC) and don't receive a response within a specific timeframe, the certificate is considered "deemed approved." This clause addresses delays in obtaining OC/CCs, benefiting both developers and homebuyers. While not a panacea, it offers a potential solution to streamline processes and promote efficiency in Noida's real estate market, ensuring adherence to regulatory guidelines while facilitating faster project completions.Read more

18 Jun 2024

The Suraksha Group is set to pay the first instalment of INR 133 crore to the Yamuna Expressway Industrial Development Authority (YEIDA) before August 24. This payment is a crucial step in the ongoing resolution process. The Suraksha Group's commitment to making this payment highlights progress in their financial obligations. Meeting this deadline signifies attachment to the agreed-upon terms, demonstrating a positive stride towards resolving financial matters with YEIDA. The payment of INR 133 crore within three months marks a significant development in the ongoing discussions between Suraksha Group and YEIDA, contributing to the compensation to farmers and continued progress of the resolution process.Read more

18 Jun 2024

Hundreds of buyers in Noida's YEIDA NRI Township project await plot registry for over 13 years, encountering fresh obstacles. YEIDA mandates additional compensation for farmers and higher lease rent before resuming registry, following SDS Infracon's failure to clear INR 700 crore dues. Buyers also need an NOC from SDS Infracon, complicating matters. Despite promises of amenities, residents lack essential services. Increased farmer compensation and NOC requirements escalate financial burdens on buyers. The NRI Township Yamuna Plots Owners Association urges YEIDA to hold the developer accountable and prioritize buyer welfare. Uncertainty looms over the project's future as buyers await resolution.Read more