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16 May 2023
The Noida Authority has given Supertech's chairman, R.K. Arora, ten days to pay the INR 26 crore ($3.5 million) worth of recovery certificates (RCs) issued by UP-RERA that the company has not yet fulfilled. Last week, the Supertech chairman committed to paying INR 2 crore ($270,000) and making settlements of INR 5 crore ($670,000), pledging that the company will soon pay the remaining dues. This move is part of the district administration's drive to collect Rs 503 crore against 1705 RCs issued by UP-RERA to 101 developers.Read more
12 May 2023
Residents of Migsun Green Mansion in Greater Noida have filed a complaint with local authorities over an unauthorized temple being built in the complex's common area. The temple is being constructed on a park that serves as the only play area for children, leading to concerns about encroachment and reduced space. Tensions continue to rise between the residents and the builder, with each party disputing responsibility for the construction. The outcome of this conflict remains uncertain, as authorities have yet to intervene to resolve the issue and ensure the common area remains a safe and enjoyable space for all residents.Read more
11 May 2023
The UP government plans to begin the land acquisition process for the second phase of the Noida International Airport in July. Two townships will be established in Falaida Cut and Modal Pur to resettle the impacted villagers. The government requires 230 hectares of land to build the townships, and officials have issued notifications for people to file objections. After addressing objections, compensation will be handed out, and land will be acquired. The resettlement process is estimated to take two years, and families will be given jobs or a one-time payment of Rs 5 lakh. Connectivity will be improved by linking the townships to nearby roads.Read more
11 May 2023
Supertech Ecovillage 1 residents in Greater Noida West have initiated an indefinite sit-in protest, demanding improved infrastructure and amenities. Key concerns include comparable electricity rates to Noida Power Company Limited (NPCL), rationalized covered parking charges, and completion of car parking facilities. While the builder claims negotiations are ongoing, the two new concerns require further investigation into financial implications. As a concession, the builder has offered to reduce charges for power increase and covered parking, but it remains to be seen if these offers will appease the protestors.Read more
01 May 2023
Last week, the Noida Authority raised the prices of plots meant for residential, group housing, and institutional purposes by a range of 6% to 10%. The rates for flats constructed by the Authority or commercial properties rented by it however remained unchanged. The decision to increase the land rates was sanctioned during the Authority's board meeting, headed by Manoj Singh, the Chairperson of the Authority and the Commissioner of Infrastructure and Industrial Development.Read more
24 Apr 2023
The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has issued a notice to M3M India for allegedly promoting and marketing units in a Noida project without registering it with the authority, violating the RERA Act. The authorities have warned the promoter of facing imprisonment if advertisements for unregistered project is not discontinued immediately. M3M India has responded by stating that the campaign is an extension of their corporate campaign to bring awareness about their presence in the city and that they are committed to operating on the principles of corporate governance and ethics.Read more
24 Apr 2023
The Gautam Buddh Nagar district administration has sealed the Noida office of real estate giant Supertech Group due to unpaid dues linked to the Supertech Township entity. The company claims the action is illegal, as the sealed office belongs to Supertech Limited. Supertech Group contends that, under the Corporate Insolvency Process initiated by the National Company Law Tribunal (NCLT), a moratorium clause prevents coercive recovery of dues. The company's Interim Resolution Personnel has requested the office's de-sealing and is considering taking the matter to the NCLT or Supreme Court.Read more
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12 Apr 2023
The Noida Authority has hired an agency to keep a check on the Sports City project, which is located in various sectors, and to ensure that the facilities are in place. The agency will assist in identifying gaps and remedies for completing the sports facilities. As per the original plan, 70% of the land was to be used for sports facilities, and the remaining area was to be used for residential and commercial purposes. However, the developers sold residential properties without completing the sports facilities.Read more
12 Apr 2023
UP RERA has hired a consultant to resolve the deadlock between real estate firms and Noida and Greater Noida development authorities over nearly Rs 39,000 crore in legacy land dues. The impasse has halted registries in residential societies throughout Noida, leaving residents with incomplete amenities. The consultant is expected to submit a report within a month, proposing a potential roadmap to address the issue. Meanwhile, a meeting between UP RERA, the development authorities, and developers is scheduled to discuss the matter further, with the aim of benefiting residents, developers, and local authorities.Read more
10 Apr 2023
The Noida Authority has recently published data on its website that reveals the extent of the city’s problem with the flat registry stalemate. This problem arises because homebuyers are unable to obtain deeds for their properties due to a disagreement between builders and the government regarding outstanding dues. The data shows that out of the 1.3 lakh flats that were approved in 115 projects in the city until 2016-17, only 56,790 (around 40%) have been registered. Moreover, of these 115 projects, 77% have defaulters who owe money to the government.Read more
06 Apr 2023
The Greater Noida Authority is cracking down on real estate developers who have defaulted on their land cost payments, with a plan to issue recovery certificates, stop-work notices, and cancel plot allotments to recover dues. Officials say the crackdown is likely to begin within a week. A total of 107 realtors owe Rs 5,650 crore in unpaid land costs. So far, 10 developers have applied to clear dues under the GNIDA’s rescheduling policy, and five others have cleared their dues.Read more
04 Apr 2023
The Noida Authority has announced that it will issue recovery certificates to builders who are not participating in its schemes to clear outstanding dues. The Authority has launched several schemes to help builders clear their dues, including a one-time settlement scheme and a scheme that allows them to surrender their land in lieu of the dues. However, some builders have not shown interest in these schemes, prompting the Authority to take more stringent measures.Read more
22 Feb 2023
The National Green Tribunal (NGT) appointed committee has issued a show-cause notice to Jaypee Infratech and the insolvency resolution professional (IP) handling the company's insolvency case, asking why an environmental compensation of Rs 5.47 lakh should not be imposed for violating green norms in the Kensington Park-1 project. The move comes in response to a complaint from a resident over violations of green norms, including sewer overflow from manholes, across several blocks of Kensington Park-1 in Sector 133.Read more
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