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

05 Oct 2023

In Greater Noida West, the Greater Noida Industrial Development Authority (GNIDA) encountered resistance while attempting to demolish an unauthorized staircase in Gaur City 2's White Orchid Society. The demolition was prompted by the builder's failure to comply with previous notices. Residents were disappointed when the GNIDA's demolition team left without executing the demolition. Allegations arose that officials engaged in private discussions with the responsible party, causing delays. A two-day extension was ultimately granted, postponing the demolition. This incident underscores the challenges of dealing with unauthorized construction and non-compliance, impacting resident safety and adherence to approved building plans, raising questions about how authorities will handle such issues in the future.Read more

05 Oct 2023

Saya Status, located in Noida, is on track to become India's tallest mall, standing at an impressive 250 feet. Developed by the esteemed Saya Group, this iconic structure in Sector 129 showcases innovative architectural design across its nine floors and vast 1.1 million square feet of rentable space. With a budget of Rs. 2000 crore, the mall is set to be completed by January 2025. Already, it has secured leases with 30 leading brands, filling half of its retail space. The Saya Group's track record in quality construction is well-established, and Saya Status aims to revolutionize the retail industry, offering an unmatched shopping experience in India's tallest mall.Read more

03 Oct 2023

The Greater Noida Authority (GNIDA) has issued its third notice to Supertech, a real estate developer, following complaints from residents of Ecovillage 1 regarding around 100 unauthorized shops within the society. The notices highlight violations of regulations and demand the removal of these establishments within 15 days. GNIDA had previously directed the removal of an unauthorized gate and encroachment on a green belt. Supertech faces potential legal action if they fail to comply. As tensions escalate, residents seek accountability for the alleged violations, while Supertech claims it has not received communication from GNIDA.Read more

28 Sep 2023

The Noida Authority is taking steps to recover over Rs 7,000 crore in unpaid fees from developers of delayed real estate projects. The authority had previously mandated the establishment of escrow accounts for such projects, but compliance has been lacking. By issuing notices to developers who have not opened escrow accounts, the authority aims to prevent fund misappropriation and ensure accountability. Developers are required to deposit 50 percent of project funds into these accounts. This proactive approach reinforces transparency and financial discipline in the real estate sector, ultimately benefiting homebuyers and the timely completion of projects.Read more

26 Sep 2023

Noida-based Gaurs Group has made substantial strides in the real estate sector with two key acquisitions. They've acquired 18 acres in Noida's Sector 129 for a Grade-A retail and office project, strategically positioned on the Noida Expressway. They've also taken over a stalled residential project in Jaypee Greens, Greater Noida, with plans to complete two residential towers and create 1.5 million square feet of additional space. This demonstrates Gaurs Group's commitment to expanding in the real estate sector and its potential impact on the NCR's real estate landscape. This follows their previous investments, including 'The Island' luxury housing complex in Jaypee Greens, reflecting their strategic expansion in the region.Read more

20 Sep 2023

The Noida Aerotropolis, a massive project adjacent to the Noida airport, is set to become a versatile development catering to residential and industrial needs. Led by Arun Vir Singh, CEO of the Yamuna Expressway Industrial Development Authority (YEIDA), this ambitious venture encompasses specialized zones including innovation and tech hubs, commercial centres, logistics facilities, hospitality offerings, and recreational areas. With a strong focus on hospitality, it will feature hotels, service apartments, and offices, creating a dynamic environment. The innovation hub will house biotech parks and tech zones, aligning with global trends in innovation-driven growth. The project emphasizes adaptability, sustainable land use, and comprehensive urban amenities, making it a promising addition to the region's development.Read more

20 Sep 2023

Uttar Pradesh is planning an expansive Olympic Park near the upcoming Noida International Airport, a move that aligns with India's ambitions to host major sporting events like the 2036 Olympics. The 1,100-acre park includes an Olympic City with 29 sports arenas and an Olympic Village with 5,000 housing units, designed primarily for athletes and sports-related personnel. This development also envisions sports clubs, training centres, convention spaces, malls, and theme parks. While the project may not be ready for 2036, it aims to become a world-class sports facility for future international events, underlining India's growing presence in sports.Read more

20 Sep 2023

Last week tax authorities expanded their investigation into potential tax evasion by Orris Group, conducting searches at multiple locations, including Noida, Greater Noida, and Gurugram. The Income Tax Department officials intensified their efforts to uncover any irregularities, suspecting that the real estate firm may have engaged in activities that contravene tax regulations. These raids mark a significant development in the ongoing probe into Orris Group's financial practices, shedding light on the authorities' determination to ensure tax compliance across various regions. The company's financial transactions and records are under scrutiny as the investigation continues to unfold.Read more

20 Sep 2023

The Supreme Court of India has expressed serious concerns about alleged widespread corruption within the Noida Authority, suspecting officials of embezzling significant public funds through wrongful approval of excess compensation in land acquisition cases over several years. The Court has called for an independent agency to conduct a comprehensive investigation in response to these allegations. Justices This decision follows revelations that the case is part of a broader pattern involving questionable compensation disbursements by the New Okla Industrial Development Authority. The Supreme Court expects a detailed response from the Uttar Pradesh government during the next hearing on October 5.Read more