02 Feb 2024

At least five real estate developers in Noida have received permission to execute registries for 1084 apartments, with two more expected to follow suit soon. The Noida Authority granted these permissions after developers paid 25% of their total dues, benefiting from a UP government-approved policy. The waiver of penal interest during the Covid-19 period and construction disruptions due to court orders is part of this policy. The move aims to address homebuyer concerns and streamline the registry process. Other developers in talks with the Noida Authority are expected to follow suit, potentially leading to permissions for around 3,000 ready apartments across 31 stalled housing projects.Read more

31 Jan 2024

The Greater Noida Authority has successfully implemented 84% of its ambitious Rs 60,000 crore investment target set by the Uttar Pradesh government. Country Group leads with a Rs 2,000 crore investment, followed by Eldeco and Iris committing Rs 1,000 crore each, and Purvanchal contributing Rs 800 crore among the builders. This robust financial infusion underscores their confidence in the project's potential and aligns with a broader trend of huge investments in the real estate sector. These strategic allocations fortify the industry's growth trajectory and contribute significantly to the overall economic landscape.Read more

29 Jan 2024

Real estate giant Gulshan Homz has acquired a substantial 2.5-acre plot in Sector 129, Noida, in a Rs 150 crore deal with a prominent bank. The prime location in the National Capital Region will be developed into a one-million-square-foot commercial project. The land parcels were part of Jaypee townships and attracted various developers following financial institutions' takeover due to loan defaults and insolvency issues. Despite challenges, companies like Gulshan Homz have collectively invested over Rs 3,000 crore, initiating projects with a revenue potential exceeding Rs 10,000 crore. The strategic expansion in Noida and venture into Moradabad positions Gulshan Homz as a key player in the dynamic real estate landscape.Read more

26 Jan 2024

The Noida Metro's Blue Line extension faces a cost increase from the estimated Rs 1,517 crore in 2018 to Rs 1,873 crore. The revised project report proposes the state government covering 80% of the cost, approximately Rs 1,225.34 crore, with additional contributions from Uttar Pradesh. The central government is expected to fund 15.3%, around Rs 235 crore, with concerns about land acquisition costs, taxes, and financial complexities challenging the project's viability.Read more

02 Jan 2024

Saya Group, a renowned real estate player, announces a strategic collaboration with global multiplex giant Cinepolis to introduce cutting-edge 5-screen multiplexes in its flagship commercial projects, Saya Status and Saya South X. Saya Status, India's tallest mall, spans 1.4 million sq. ft., offering a futuristic design and possession in early 2025. Meanwhile, Saya South X in Greater Noida West is nearing completion and poised to become the retail hub of the region. This partnership aims to elevate the entertainment and commercial potential of both projects, aligning with Saya Group's commitment to quality and comprehensive space development.Read more

01 Jan 2024

Noida and Greater Noida authorities have approved recommendations by a committee led by former NITI Aayog chairman Amitabh Kant, opening the door for the revival of 200,000 stalled residential units. The decision, with benefits like a zero period and extended payment timelines, aims to aid 117 projects and 75,000 buyers in Greater Noida. Notably, builders opting for benefits cannot impose extra charges on buyers. The relief package includes an independent assessment of dues and a three-year extension for project completion. Dues settlement timelines are outlined based on amounts. Exclusions apply to sports city and certain development categories, ensuring momentum in real estate while protecting stakeholders.Read more

26 Dec 2023

The Yamuna Expressway Industrial Development Authority (YEIDA) is conducting an e-auction for institutional plots near Jewar Airport in Greater Noida. The plots in Sectors 18, 20, and 22E are ideal for nursing homes, hospitals, corporate offices, and senior secondary schools. Interested parties can apply for plot acquisition until January 1, 2024, and the e-auction, involving 11 plots ranging from 1000 to 10900 square meters, will conclude by February 29, 2024. Plots will be allotted on a 90-year leasehold basis, with reserve prices ranging from Rs 4.75 crore to Rs 25.95 crore. The initiative aims to boost development and connectivity in the region, emphasizing YEIDA's commitment to Greater Noida's growth.Read more

19 Dec 2023

During a committee meeting aimed at settling disputes between homebuyers and builders, the Greater Noida Authority addressed various concerns. Topics discussed included the timely completion of flats, the establishment of Apartments Owners Association (AOA), the transfer of Infrastructure Maintenance Fund (IFMS) funds, and the registry process for flats. The committee actively sought solutions to these issues, emphasizing the importance of a comprehensive resolution for the benefit of both buyers and builders involved in the dispute. The next committee meeting is scheduled for January 3.Read more

19 Dec 2023

The Yamuna Expressway Industrial Development Authority (YEIDA) plans to auction land for hotels near the upcoming Noida International Airport in Jewar. An e-auction is scheduled for December 22 which will offer three commercial plots in Sector 28, adjacent to the airport and the Yamuna Expressway. These strategically located plots aim to attract big players. Big entities like the ITC Group have already expressed interest. With applications accepted until December 14, the auction anticipates a minimum revenue of Rs 108 crore. Successful bidders will secure 90-year leases for constructing multi-storey hotels, pending clearance for structures exceeding 24 meters in height from the Airports Authority of India.Read more

12 Dec 2023

Greater Noida has started a comprehensive land audit and door-to-door survey for its villages. The Greater Noida Industrial Development Authority (GNIDA) is engaging a consultant agency to conduct surveys utilizing aerial drone technology. The agency's year-long contract involves compiling data, executing door-to-door surveys, and digitizing land boundaries. This meticulous initiative aims to update land records, identify discrepancies, and ensure precision in land usage. It demonstrates a commitment to transparent and accurate records, benefiting urban planning and future development in the region.Read more

07 Dec 2023

The Greater Noida Industrial Development Authority (GNIDA) aims to expedite Uttar Pradesh's economic growth by inviting applications for 22 commercial plots. The Commercial Plot Allocation Scheme (FAR-4.0) offers plots in various sectors, including Delta-2, Alpha-2, Ecotech-12, Technozone-8, Sector 12, and Sector 10. The registration deadline is December 8, with the process conducted through the State Bank of India's e-tendering portal. The earnest money deposit (EMD) ranges from Rs 2.19 crores to Rs 10.17 crores. This strategic initiative seeks to attract investment and stimulate industrial development in Greater Noida, contributing to the overall economic progress of the region.Read more

07 Dec 2023

Over the past four months, the Greater Noida Industrial Development Authority (GNIDA) has processed nearly 5,000 registries across more than 20 housing projects. This initiative, following developers settling their dues and obtaining occupation certificates, has contributed Rs 100 crore in revenue, with stamp duty payments amounting to Rs 150 crore for the state government. GNIDA's CEO, Ravi Kumar NG, highlighted the adoption of a flat-wise registration system for efficiency, ensuring smooth ownership rights for homebuyers. The Authority actively addressed homebuyer concerns through camps, and despite awaiting the state government's rehabilitation package, GNIDA remains committed to resolving builder-buyer issues within existing policies.Read more

06 Dec 2023

The Greater Noida Industrial Development Authority (GNIDA) green-lit extra construction in Amrapali Group projects supervised by NBCC, foreseeing a revenue boost of Rs 450 crore. This adjustment involves raising the floor area ratio (FAR). The Amrapali Group, which is in financial turmoil, owes GNIDA nearly Rs 5,200 crore. GNIDA stands fourth in the creditor line. The present approval is part of extensive discussions with the court receiver to benefit stakeholders, notably homebuyers. This strategic move aims to address the complexity surrounding Amrapali's projects and contribute to a comprehensive resolution process.Read more

05 Dec 2023

Bhutani Infra's Avenue 133, the cutting-edge high-street mall in Noida Sector 133, has made history in the local real estate scene by selling all its retail spaces within a remarkable 12 hours of its grand launch. Situated strategically along the Noida-Greater Noida Expressway, Avenue 133 offers a mix of retail shops, wellness centres, office spaces, and a vibrant food court, aiming to be the longest high-street commercial project in Delhi NCR. With metro connectivity, modern facilities, and a diverse range of brands, its swift success reflects trust in Bhutani Infra's commitment to quality, innovation, and environmental responsibility.Read more

02 Dec 2023

In Noida, the fate of Unitech housing projects hangs in the balance as thousands of anxious homebuyers await a crucial Supreme Court hearing. The projects, delayed for years due to the company's promoter's legal troubles, are now under a government-appointed board. The Supreme Court had earlier directed the submission of revised layout plans, emphasizing the commencement of construction without upfront payment of dues. The recent court order urged collaboration between Unitech and Noida Authority to resolve issues. Noida Authority, however, insists on clearing the realtor's Rs 10,000 crore dues before approving revised maps.Read more

02 Dec 2023

Greater Noida West has become a hotspot for real estate investors as property prices surged by an impressive 21.6% YoY, according to a recent Magicbricks report. The study highlights a growing demand for spacious residences, with apartments exceeding 1,250 sq ft contributing to 54.5% of the total demand. The area's strategic location and affordable housing options have attracted both domestic and international investors, with NRIs from the United States, Canada, United Kingdom, and UAE constituting 85% of the international demand. This surge solidifies Greater Noida West as a thriving real estate destination.Read more

29 Nov 2023

Yamuna Expressway Industrial Development Authority (YEIDA) is reportedly planning a new residential sector, likely named Sector 5, near the upcoming Noida International Airport. YEIDA aims to acquire 1,100 hectares of land for this purpose, anticipating strong buyer interest. The proposal includes dedicating 50% of the land for a residential plots scheme, with the remaining portion allocated for group housing societies. The acquisition process is expected to start soon, with completion anticipated by December 2023 or January 2024. YEIDA plans direct connectivity between Yamuna Expressway and Chola Railway Station through the new sector, enhancing overall accessibility and appeal.Read more

28 Nov 2023

The Uttar Pradesh government has sanctioned a Rs 1,779 crore interest-free loan to the Yamuna Expressway Industrial Development Authority (YEIDA) for land acquisition. This funding will support the development of five industrial parks, including a logistics park and an electronic manufacturing cluster, covering over 1220 hectares near the Noida International Airport and along the expressway. YEIDA will match the state's contribution and is aiming to repay the loan over 25 years. This move marks a significant step in boosting industrial growth and infrastructure development in the region.Read more

22 Nov 2023

The Greater Noida Industrial Development Authority (GNIDA) is set to allocate land for the establishment of shopping malls, hotels, and commercial complexes. Under the scheme, 22 plots of varying sizes will be auctioned, with registration closing on December 1 and fee submission deadline on December 5, 2023. Plots, strategically located in six sectors, offer proximity to major corridors and the upcoming Noida International Airport. Prices range from Rs 21.94 crore to Rs 109.1 crore, with a 10% earnest money deposit.Read more

21 Nov 2023

The New Okhla Industrial Development Authority (Noida) has introduced two plot allocation schemes to boost industrial and commercial activities in the region. The registration process for commercial builder plots, ranging from 812.73 sq m to 51,417.25 sq m, has begun. The Commercial Plots Scheme targets sectors 32, 35, 40, 50, 94, 96, 97, 98, 105, 108, 124, 132, and 135 in Noida. These plots will be allocated through an e-auction process, with the bidding date to be announced after a pre-bid meeting on November 21. Additionally, an open-ended scheme for plot allocation in Noida Industrial Area Phase 1 and 2 will commence registration on November 21.Read more