Advertisement
24 Apr 2025
The Yamuna Expressway Industrial Development Authority (YEIDA) recently launched a scheme offering 276 residential plots in Sector 18, Noida. These plots, measuring 200 square metres each, are priced at INR 35,000 per square metre, marking a 35% increase from previous rates. Applicants can apply until May 21, with a draw set for July 11. A 10% registration fee is required, and the remaining amount must be paid within 60 days. This scheme is part of YEIDA's wider plans, which include upcoming plots for group housing, industrial, commercial, and hotel projects near the Noida International Airport.Read more
21 Apr 2025
In a significant move to expedite land compensation, the Yamuna Expressway Industrial Development Authority (YEIDA) has initiated the issuance of reservation letters for 7% abadi (residential) plots to farmers at the time of land acquisition settlements. This approach ensures that farmers are informed about the exact location and size of their allotted plots during the acquisition process. A verification committee comprising officials like the deputy collector and tehsildar will oversee the scrutiny and finalization of these allotments. The final allotment letters are set to be dispatched within 90 days, with development work on the plots expected to conclude within eight months. This initiative aims to streamline the compensation process and address longstanding grievances related to delays in plot allotments.Read more
17 Apr 2025
The Noida Authority has launched a INR 400 crore dedicated corpus fund to support the city's municipal services amid concerns about declining revenue from land sales and lease rent. Currently spending INR 1,500 crore annually on civic upkeep, the Authority aims to create a financial buffer for long-term sustainability. The fund will be built using one-time lease rent payments from property owners and was approved by the Noida Board on March 28. With rising urban costs and limited land inventory, officials say the move ensures uninterrupted services like sanitation and lighting-serving as a model for other Indian cities facing similar fiscal challenges.Read more
14 Apr 2025
The Noida Authority has filed FIRs against seven housing projects across various sectors for serious violations of environmental regulations, particularly regarding sewage and solid waste treatment. Six of the projects have also been slapped with fines amounting to INR 1.15 crore in total. The action follows inspections that revealed untreated wastewater being discharged into stormwater drains, in violation of pollution control laws. The move comes in line with directives from the National Green Tribunal. However, some residents' associations argue that they are complying with all waste and sewage management norms.Read more
11 Apr 2025
The National Green Tribunal (NGT) has directed the Greater Noida Industrial Development Authority (GNIDA) to take action against ongoing illegal constructions in violation of environmental norms. The order follows a petition alleging that numerous houses, shops, and commercial establishments were being built without the necessary green clearances in Greater Noida and Noida. Despite previous directives in December 2024 to halt such projects, illegal constructions continued. The NGT has asked GNIDA to identify these projects and enforce appropriate action, with a comprehensive report to be filed by the authorities.
08 Apr 2025
The Noida Authority has recovered INR 533.91 crore by enabling the registry of 3,620 flats across 27 long-stalled housing projects under the Uttar Pradesh government's December 2023 policy aimed at resolving legacy real estate disputes. Of these, registries for 2,726 units have already been completed, granting legal ownership to homebuyers. The policy offers interest waivers for developers affected by the Covid-19 pandemic and National Green Tribunal (NGT) restrictions, incentivising them to clear dues and expedite registries. Promoters who pay at least 25% of their dues are granted permission for registration and qualify for further waivers.
04 Apr 2025
The Stamps and Registration Department in Noida recorded an 18% year-on-year increase in revenue for FY 2024-25, collecting INR 4,230 crore compared to INR 3,575 crore the previous year. This marks the highest revenue collection in a decade, though it fell short of the INR 4,880 crore target, achieving 86% of it. The rise was attributed to increased property registrations, particularly of flats in stalled group housing projects, following a two-year zero-period waiver under the Uttar Pradesh government's rehabilitation package. To boost collections, offices remained open on weekends, registering 18,405 flats, including nearly 12,000 from stalled projects.
02 Apr 2025
The Lucknow Development Authority (LDA) has approved freehold ownership for over 4,000 rented properties in colonies like Nirala Nagar and Rajendra Nagar, granting rights to original tenants or current occupants if heirs are absent. The move aims to resolve long-standing tenancy issues and boost property ownership. Nearly 1,500 properties in Transport Nagar will also be converted to freehold, with penalties for land-use violations. LDA also launched a discount scheme offering 3-6% off for lump sum payments made within 45-90 days. This initiative is expected to enhance legal clarity, attract investment, and strengthen Lucknow's real estate market by encouraging stable, long-term ownership and improving buyer confidence.Read more
02 Apr 2025
The Greater Noida Authority has raised land rates by 5% across all categories, impacting residential, commercial, and industrial plots. For residential areas, the rate increased from INR 47,227 per square meter to INR 49,588. The hike also affects builder plots, commercial, and institutional rates. Additionally, a penalty waiver for unregistered flats has been introduced, and a substantial budget of INR 5,600 crore has been allocated for land acquisition and infrastructure development for the 2025-26 financial year.
01 Apr 2025
Authorities in Gautam Budh Nagar have proposed a circle rate hike ranging from 20% to 70%, a move that could significantly impact homebuyers and property investors. If approved, this increase will raise the minimum property valuation for stamp duty calculations, making real estate transactions more expensive. Higher circle rates could also influence market prices, affecting affordability in Noida, Greater Noida, and surrounding areas. The proposal is currently under review, with stakeholders expressing concerns over its potential impact on housing demand and investment in the region. Experts predict that this move may impact demand, especially for affordable housing projects.
Advertisement
31 Mar 2025
The Uttar Pradesh government plans to raise Noida's circle rates by 20% in the upcoming fiscal year, marking the first adjustment since 2016. Circle rates, which are the minimum property values set for registration and stamp duty calculations, have remained unchanged for nine years despite significant property price increases in Noida and Greater Noida. The proposed hike aims to align official valuations with current market rates. Additionally, properties in Jewar are expected to see a 70% increase in circle rates, influenced by the anticipated opening of the Noida International Airport in May. The district administration has released a draft valuation list and is accepting feedback until April 5. If implemented, these adjustments will impact various property categories, including residential, group housing, industrial, IT/ITES, and commercial plots.
28 Mar 2025
Noida International Airport is expected to begin domestic operations in June, with stakeholders aiming to complete internal construction of the terminal's domestic section by mid-to-late May. Regulatory clearances are anticipated between May 15 and 25, after which trial operations will commence, requiring an additional two to three weeks for full functionality. While over 90% of construction work is complete, the international wing of the terminal is set to be operational only by June 25, 2025. Authorities will conduct security inspections before granting approvals. Meanwhile, the Air Traffic Control (ATC) tower is scheduled to be functional by mid-April, facilitating smoother coordination.
25 Mar 2025
The Noida Authority has announced strict action against residential plot allottees who have failed to begin construction or clear dues, warning of cancellation of allotments. A recent review by Noida CEO Lokesh M. revealed several plots in Sectors 51 and 151 with overdue payments totaling over INR 8 crore, with the largest single default exceeding INR 3.5 crore. Despite multiple notices since February, no action has been taken by the defaulters. The Authority will proceed with cancellations as per lease agreements and building regulations and continue issuing demand notices to ensure land is used as intended and dues are recovered.
25 Mar 2025
The RG Luxury Homes project in Greater Noida West is set to hand over possession to 600 homebuyers who have been waiting for six years. The developer has secured occupancy certificates for three additional towers under the National Company Law Tribunal's (NCLT) reverse insolvency process, bringing the total to seven towers cleared for possession. The project, which was stalled in 2016 due to financial troubles, is the first in Gautam Buddh Nagar to achieve this milestone under this insolvency route. With only two towers left under construction, RG Group is steadily moving toward completing the first phase of the long-delayed project.Read more
25 Mar 2025
Supertech Ltd. was ordered by the National Company Law Appellate Tribunal (NCLAT) to hand over management of the common areas of its Supernova project in Noida to the registered Apartment Owners Association in a historic decision. Despite only 27% of units having received occupancy certificates, NCLAT clarified that once an association is registered, it is entitled to take over management, even if the project is incomplete. This decision empowers homebuyers of insolvent real estate projects to gain control of their societies sooner, bypassing developers' resistance.
24 Mar 2025
The Uttar Pradesh government has confirmed that Noida International Airport will begin domestic operations from May 15, 2025, with international flights to follow by June 25, 2025. Originally set to open in September 2024, the project faced delays due to construction setbacks, prompting the state to impose a INR 10 lakh per day penalty on the concessionaire. The airport is expected to transform the region, driving real estate growth and economic activity, similar to major airports in Hyderabad and Bengaluru. Plans for enhanced connectivity with Delhi, including air-conditioned electric buses, will further bolster its impact on regional development.Read more
18 Mar 2025
Danish multinational Topsoe has moved its India operations from Faridabad to Noida, leasing 75,000 sq. ft. at DLF Tech Park. This shift aligns with a trend of corporations relocating to Noida, driven by the upcoming Jewar Airport, set to open by May 2025. Improved connectivity and rising property values-up by 20-30% in Greater Noida and along the Yamuna Expressway-are fueling commercial expansion. YEIDA has also received proposals for specialized hubs near the airport, reinforcing Noida's position as a strategic business hub attracting global companies.Read more
14 Mar 2025
The Supreme Court has ordered that no coercive action be taken against Lotus Greens in connection with alleged irregularities in its Noida real estate project. This directive follows the developer's challenge against an earlier ruling by the Allahabad High Court, which had called for a CBI investigation into violations related to the Sports City project in Noida's Sector 150. The high court had also instructed the Noida authority to recover outstanding dues from all stakeholders and consider fresh bids in case of cancelled allotments. Lotus Greens expressed confidence in the apex court's intervention, hoping for a fair resolution for consortium partners and homebuyers.Read more
11 Mar 2025
The Noida Authority has issued notices to developers involved in the Sports City projects, instructing them to clear all outstanding dues within a month in line with the Allahabad High Court's recent directives. The dues include pending premiums, interest on premiums, penalty interest, lease rent, the 64.7% additional compensation amount, and time extension fees. Developers failing to comply within the stipulated timeframe will face further legal action. The court has also barred developers from creating third-party rights through bookings until they complete the sports facilities as per the original project plan. Furthermore, original lessees and sub-lease holders are prohibited from selling land or altering shareholding structures until the completion of the first phase of sports facilities.Read more
07 Mar 2025
Bhutani Infra has taken control of the first phase of Bhutani Bayview International Film City in Noida, a 230-acre project with an investment of INR 1,510 crore. With state-of-the-art production facilities, a dedicated film university, and convenient access to Noida International Airport, the plan aims to make Noida a global hub for filmmaking. A distinctive 250-acre emblem visible from space will emphasize India's cinematic identity, while the initiative corresponds with the Uttar Pradesh government's Film Policy 2023, which will create over 50,000 jobs. It will also incorporate sustainable commercial and hospitality areas, creating new standards in real estate and entertainment infrastructure.Read more
Advertisement
