15 Nov 2023

In Greater Noida, a newly formed nine-member committee, led by additional CEO Saumya Srivastava, aims to address and resolve disputes between builders and buyers. This committee, established to expedite conflict resolution, will focus on issues such as the issuance of No Objection Certificates (NOCs), the formation of Apartment Owners Associations (AOAs), and the transfer of interest-free maintenance security (IFMS) funds. The panel comprises officials from various GNIDA departments, including legal representation, and includes two members nominated by the Confederation of Real Estate Developers' Associations of India (CREDAI) to represent builders. This initiative seeks to streamline conflict resolution and improve communication between stakeholdersRead more

14 Nov 2023

Group 108's latest venture, "ONE FNG," is set to revolutionize Noida's commercial sphere with a massive investment of around Rs. 1000 crore. Comprising high-rise office towers and a substantial retail area, the project is strategically located near the FNG Expressway. Emphasizing sustainability, wellness, and innovation, ONE FNG aligns with Group 108's commitment to redefine the city's economic landscape. With its Platinum-rated green building certification, registered under RERA, and an estimated completion within five years, this project embodies a visionary approach, indicating a transformative future for Noida's commercial real estate.Read more

14 Nov 2023

Between January and September 2023, Greater Noida witnessed a surge in flat registrations, with 5,741 flats registered—a notable 30.5% increase compared to the same period in the previous year. On average, 21 flats were registered daily during this timeframe. The Greater Noida Industrial Development Authority (GNIDA) attributes this rise to measures like special registration camps and notices to developers. Currently, 80,000 to 90,000 registries are pending due to various reasons, including builder dues. The GNIDA plans special camps before Diwali to expedite more registries. However, stakeholders emphasize the need for swift resolution of builder dues to address the larger issue.Read more

11 Nov 2023

NDTV has secured a lease for 1,28,000 sq ft in Max Square, a project by Max Estates Limited. Max Square has already leased out 50% of its office space within six months of its completion. Located on Noida Expressway, the development has a total leasable area of 700,000 sq ft, with New York Life Insurance Company as a 49% partner. The high demand for this premium space has led to a rental premium of 25%-30% over the prevailing market rate. Despite challenging financials in H1 FY24, Max Estates has strategically acquired land parcels, signaling its intent for potential future developments in the Delhi-NCR region.Read more

08 Nov 2023

State-owned NBCC has made substantial progress in completing Amrapali's stalled housing projects in Noida and Greater Noida. Around 13,500 homes have been completed, with 5,100 units already handed over. Acting as a Project Management Consultant (PMC), NBCC is overseeing the completion of 38,159 units and pending facilities in 25 projects. Funding support, including Rs 1,496.45 crore from a consortium of banks, has facilitated this progress. NBCC's dedication to fulfilling homebuyers' dreams is evident, with a commitment to completing all projects by March 2025. This progress marks a significant achievement in the real estate sector.Read more

08 Nov 2023

The Yamuna Expressway Industrial Development Authority (YEIDA) has introduced a plot allotment scheme aimed at promoting the establishment of hotels in Greater Noida's Sector 28. These hotel plots come in three different categories and will be allocated through e-auctions. With their proximity to Jewar Airport, these plots are in an attractive location for both budget and premium hotels. The application deadline for plot allotment is November 20. The Uttar Pradesh Government will lease the plots for 90 years to selected bidders.Read more

08 Nov 2023

The Gautam Buddh Nagar administration in Noida will enforce GRAP III as invoked by CAQM amid deteriorating air quality, implementing a strict ban on construction activities across Noida and Greater Noida. The ban excludes essential works but covers all others, following CAQM guidelines. Violations recorded in October led to penalties of approximately Rs 89 lakh. The main contributors to pollution in Noida are construction and road-side dust, along with vehicular emissions. The Air Quality Index (AQI) fluctuated between "very poor" and "severe". Measures like an odd-even scheme and road rationing have been proposed to combat the issue.Read more

08 Nov 2023

Trehan Iris introduces OMEGA, a high-rise office tower in Iris Broadway Greno West, Noida, aiming to redefine workspaces. With a unique focus on lockable offices and the exclusive Omega Corporate Lounge, it offers a sophisticated environment for meetings and collaboration. Boasting exceptional features like rooftop access, conference facilities, and a strategic location near the Aqua Metro line, it signifies a shift in commercial real estate. Strategically positioned to accommodate the region's rapid growth, OMEGA is set to emerge as a pioneering project set to elevate work-life balance and set new standards in Noida's commercial landscape.Read more

03 Nov 2023

The Uttar Pradesh government has approved an additional Rs. 880 crore as compensation for the second phase of the Noida International Airport, bringing the total pay out to landowners to Rs 4,780 crore. Approximately 70% of the 1,181 hectares of land required across six villages in Jewar has been acquired, with Rs 2,800 crore already distributed to farmers. The remaining land will be used for a maintenance, repair, and overhauling (MRO) hub. NIAL plans to attract international investments for the MRO centre, positioning the region as an aviation hub in India. The first phase of the airport is set to commission in October 2024, with future phases expanding its capacity and facilities. NIAL would be India’s largest airport once completed.Read more

02 Nov 2023

CRC Group has announced three major projects in Noida, aiming for a top revenue of Rs 3500 crore. The projects include a Grade-A IT/ITES commercial hub ‘The Flagship’, a luxurious residential complex in collaboration with Jaypee, and the second phase of CRC Sublimis housing project. With a combined area of 72 lakh square feet under construction, these projects signify a significant stride in Noida's real estate landscape. The substantial investments underscore CRC Group’s confidence in the region’s thriving real estate and economic potential, promising a blend of luxury living and commercial vibrancy.Read more

27 Oct 2023

Greater Noida is leading the charge in India's residential real estate market, with a remarkable 38.9% increase in property searches during Q3 2023, positioning it as the top city out of 13 major Indian cities. This surge is attributed to rising demand and a 6.7% decrease in supply, potentially signalling a supply-demand gap. Notably, 3BHK units are in high demand, making up over 47% of all property searches, in line with the growing preference for luxury residential properties. Other cities, like Delhi and Gurugram, also saw an increase in searches and property prices. These findings reflect significant transformations in India's real estate landscape, attracting attention from industry stakeholders.Read more

26 Oct 2023

Jewar, a town in Uttar Pradesh, has been experiencing significant transformation due to the construction of the Noida International Airport. The area has attracted real estate developers, investors, warehouses, hotels, universities, and even Bollywood actors and producers. The Yamuna Expressway Industrial Development Authority (YEIDA) has launched various schemes linked to the airport, including residential, commercial, industrial, education hub, and film city sectors. High-rise residential projects by renowned developers like ATS, Oasis, and the Gaur Group have already been completed, boosting the real estate market. The government aims to turn Jewar into a thriving corporate hub akin to Gurugram, driven by the airport's strategic location and connectivity.Read more

20 Oct 2023

Dozens of farmhouses, sprawling across multiple acres on the Yamuna floodplains, have faced demolition by the Noida Authority. The owners had constructed concrete structures on the premises and were using them for various commercial activities. This action signals the beginning of a crackdown on unauthorized developments along the environmentally sensitive floodplain area. The Noida Authority has emphasized its commitment to preserving the floodplains and curbing illegal encroachments. Further demolitions are expected as part of a broader effort to reclaim and protect the Yamuna floodplains.Read more

20 Oct 2023

Noida's DS Group, known for its Rajnigandha pan masala, is reportedly evaluating the acquisition of the iconic Great India Place Mall (GIP) for Rs 2,000 crore. The potential move aligns with DS Group's broader strategy to deepen its foothold in the retail and hospitality sectors. The GIP Mall, once a prime shopping destination, has faced financial challenges post the pandemic. While DS Group emphasises no official bid has been made yet, their recent acquisition activities in the hospitality sector indicate a consistent expansion strategy.Read more

18 Oct 2023

The Yamuna Expressway Industrial Development Authority (YEIDA) has initiated a group housing plot scheme in Greater Noida's Sector 22-D. It plans to offer six plot categories through an e-auction on November 21. The application process, launched on September 28, requires submissions by October 27. Successful applicants will participate in e-auctions on November 21. The reserved prices for the plot, including PLC, have been fixed between Rs 61.50 crore to Rs 135.3 crore, with registration amounts between Rs 6.15 crore and Rs 13.53 crore. YEIDA's website provides details on vacant plots, including area, sector, allocation rate, and reserved prices. ICICI Bank is the exclusive banking partner for the project.Read more

18 Oct 2023

The Noida district administration is taking proactive steps to address the strain on its existing sub-registrar offices due to the surge in property transactions. The revenue department has proposed establishing two additional sub-registrar offices in Greater Noida and Dadri to expedite property registration processes. Currently, these offices are overwhelmed, with daily registrations far exceeding capacity, leading to delays and potential errors. To streamline the process, the revenue department plans to hire additional helpdesk staff to assist the public and maintain the accuracy of documentation. The move anticipates and responds to the evolving landscape of property transactions in Noida, enhancing the overall experience for registrants.Read more

14 Oct 2023

Noida and Greater Noida authorities have come up with alternative options like draw of lots and interviews for industrial plot allotment. This shift follows the recent decision to abandon e-auctions for increased transparency. For Noida's Phase 2 and 3 plots, a draw will be employed, while Phase 1 plots will continue to use e-auctions as the number of plots are less. Applicants must deposit 10% upfront, with options for lump-sum or instalment payments. Plots larger than 4,000 sqm require an interview assessing financial capacity and technical experience. Noida Authority plans to formalize these decisions soon.Read more

13 Oct 2023

The Yamuna Expressway Industrial Development Authority (YEIDA) has unveiled an instrumental furniture park scheme in Greater Noida, geared towards fostering non-polluting industrial growth. The initiative offers plots of up to 4,000 square meters at competitive premium rates, creating a welcoming environment for entrepreneurship and innovation. With 63 plots dedicated to MSMEs, it not only boosts local economic development but also generates employment. Located strategically near key areas like Jewar Airport, this project ensures seamless connectivity and goods movement. YEIDA's initiative signifies a pivotal stride toward economic progress, inviting entrepreneurs to contribute to the flourishing industrial landscape of Greater Noida.Read more

07 Oct 2023

Noida-based Nivas Promoters has amicably settled disputes with allottees of its residential project, One Leaf Troy, following orders from Uttar Pradesh RERA (UP-RERA). In collaboration with Renowned Buildtech, a mutual settlement resulted in the payment of Rs. 62.11 lakh to all allottees, facilitating the withdrawal of their complaints. This resolution comes after the construction and development work of One Leaf Troy, situated in Greater Noida West's Sector 10, faced prolonged delays. UP-RERA had previously issued orders to ensure unit possession within a specified timeframe or the return of deposited amounts with interest for the delay period.Read more

06 Oct 2023

Residents in Sector Alpha 2 of Noida are facing escalating issues concerning unattended construction and demolition (C&D) waste, compounded by ineffective waste management practices and inadequate waste segregation. Despite decisions made in a meeting convened by the Greater Noida Industrial Development Authority (GNIDA) to handle C&D waste, residents have reported a worsening situation, with garbage accumulating in various areas. The irregularity of door-to-door waste collection services has exacerbated the problem, leading to concerns about public health, including the potential spread of diseases like dengue and malaria. Residents have urged officials to conduct surprise inspections, prompting GNIDA to promise a response.Read more