12 Mar 2024

The Yamuna Expressway Industrial Development Authority (YEIDA) has issued an occupation certificate to Oasis Grandstand in Noida's Sector 22D, easing registry anxieties for 1,235 homebuyers. This milestone resolves long-standing issues in the real estate sector. Furthermore, YEIDA's approval for approximately 600 plots in SDS Infracon's Sector 26A township signals progress in resolving financial disputes, enabling plot owners to initiate construction. CEO Arun Vir Singh highlighted these decisions' significance, emphasizing the forthcoming board meeting's potential to extend Covid 'zero period' benefits, potentially exempting homebuyers from interest or penalty charges. This move aims to alleviate financial burdens and expedite registry processes, ensuring relief for homeowners across various residential projects.Read more

11 Mar 2024

Cushman & Wakefield will lead a 350-acre fintech hub near Noida International Airport, starting with 100 acres dedicated to core financial activities. The project aims to foster innovation and growth in the financial services sector. Renowned firms like Jones Lang LaSalle and CBRE South Asia are interested parties. Cushman & Wakefield will deliver the project report within 45 days, considering various development approaches like public-private partnerships. Leveraging India's booming fintech landscape and academic expertise, the hub stands to catalyse India's fintech revolution and propel economic prosperity.Read more

06 Mar 2024

The Noida Authority is taking significant strides to address the protracted issue of stalled real estate projects by facilitating the registration of more than 13,000 flats across various developments. With 35 developers committing to settle outstanding dues under Uttar Pradesh's rehabilitation package, aimed at resolving stalled projects, officials emphasize their dedication to prioritizing homebuyers' interests. Initial payments from developers, recalculated to reflect package benefits, are anticipated to exceed INR 500 crore, with 12 developers already settling dues, enabling registration of approximately 1,200 flats. Amidst an estimated INR 44,700 crore in outstanding dues, initiatives including special registration camps aim to expedite processes and alleviate burdens on homebuyers, underscoring efforts to revive the region's real estate sector.Read more

06 Mar 2024

The Noida Authority has launched a scheme offering 25 commercial plots in 11 sectors of the city, with a cumulative reserve price of Rs 105.5 crore. The plots, ranging from 18 sqm to 316 sqm, will be allotted through e-auction, with registration closing on March 7. These plots are strategically located near markets, Metro stations, and office areas. The reserve prices vary from Rs 49.11 lakh to Rs 6.60 crore, with an earnest money deposit (EMD) of 10% of the plot cost. The scheme aims to attract buyers looking for prime investment opportunities in Noida's commercial real estate sector.Read more

01 Mar 2024

Godrej Properties secured a prime 6.45-acre housing plot in Noida with a bid of INR 506 crore, strengthening its presence in the vibrant real estate market. Beating competitors in the e-auction held by the Noida Authority, the Mumbai-based developer aims to craft modern living spaces tailored to evolving lifestyles. This acquisition aligns with Godrej's expansion strategy, signaling confidence in Noida's growth prospects. Meanwhile, the company's foray into Hyderabad and Bengaluru markets underscores its commitment to delivering premium residential projects, further solidifying its position as a key player in India's real estate landscape.Read more

01 Mar 2024

Tata Consultancy Services (TCS), India's top IT firm, secured 400,000 sq ft office space in Noida, a major move amidst return-to-office trends. Demand for Grade A properties rose with corporate policies shifting. Assotech Business Cresterra project in Noida sees significant development. Despite economic uncertainties, the Delhi-NCR region witnesses increased leasing volume, driven by fresh space uptake. The flex space sector surpassed the IT-BPM sector in space consumption. The region experienced 2.9 million sq. ft. of new space influx, leading to a slight rise in vacancy rates. TCS's move reflected evolving workspace preferences in the corporate world.Read more

28 Feb 2024

State-owned NBCC received approval from the Greater Noida Authority to develop five Amrapali projects worth INR 10,000 crore. These projects include Centurian Park, Golf Homes, Leisure Park, Leisure Valley, and Dream Valley. In December 2023, NBCC announced sales of 5,000 units for INR 2,900 crore across several residential projects of Amrapali. As per Supreme Court direction, ASPIRE was formed to complete stalled projects through NBCC. NBCC is tasked with completing 38,159 units and pending common facilities across 25 housing projects, with an estimated cost of INR 8,266 crore. NBCC aims to complete all projects by March 2025, prioritizing home buyers' ownership dreams.Read more

23 Feb 2024

The Uttar Pradesh State Government, guided by recommendations from a committee led by former Niti Aayog member Amitabh Kant, is streamlining flat registration in projects where developers accept recalculated dues under a rehabilitation plan. Special Sunday camps aim to hasten registration, aiding about 40 projects in Noida and Greater Noida. The deal offers a two-year interest and fine waiver on COVID-related dues upon 25% upfront payment. Officials anticipate a boost in revenue collection, aiming for INR 4,728 crore from Noida alone. However, only 13 of 57 developers have responded positively, prompting a deadline extension. Proactive measures aim to enhance developer participation and revenue, aligning with rehabilitation goals.Read more

21 Feb 2024

County Group plans to invest INR 5,000 crore over five years in Ivory County, an ultra-luxury housing project in Noida's Sector 115. With 2,372 units spread across 28 acres, the project includes 'Ivory County' and 'Ivory County Gold' segments. Phase one's 1,500 units are already sold out. Offering 3, 4, and 5-BHK apartments ranging from 2,034 to 6,939 sq ft, prices start at INR 14,000 per sqft for Ivory County and INR 16,000 per sqft for Ivory County Gold. With a revenue potential of INR 7,500 crore, the project targets buyers from within County Group's existing projects for a lifestyle upgrade.Read more

19 Feb 2024

The Greater Noida Industrial Development Authority (GNIDA) has initiated an e-auction for eight group housing plots, spanning 3.5 to 10 acres each, in various sectors of Greater Noida. Developers have a 90-day window to complete payment for the land and are required to adhere to the approved layout plan, obtaining an occupancy certificate within seven years. Sector Mu offers a 4.5-acre plot, Omicron 1A a 7.5-acre plot, and Eta 2 a 7-acre plot, among others. Interested parties must apply by Feb 27 and submit documents by March 1. Land rates range from INR 36,500 to INR 48,300 per sqm, with a total reserved price exceeding INR 970 crore. Allotments are on a leasehold basis for 90 years, with restrictions on amalgamation or subdivision. Consortiums are allowed, with a designated lead member responsible for project completion. Previous transactions, like Prasu Infrabuild's acquisition of a 6-acre plot in Sector Zeta 1, reflect investor confidence in Greater Noida's real estate market.Read more

06 Feb 2024

The Yamuna Expressway Industrial Development Authority (YEIDA) aims to boost economic development in Noida, anticipating the launch of the Noida International Airport in October. The board approved the creation of four integrated Special Economic Zones (SEZs) covering 10,500 hectares near Agra. These zones will host electronics, electric vehicle manufacturing clusters, and data centers, functioning as self-sustained townships. With a focus on environmental sensitivity, the SEZs will incorporate substantial green spaces and accommodate non-polluting industries. Additionally, an aviation hub near the upcoming airport and a semiconductor park were approved. The board also addressed environmental concerns with measures like air quality monitoring systems and land allocation reforms for institutions.Read more

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