Gurugram based Experion Developers is set to invest approximately INR 1,500 crores in developing a luxury housing project named 'Experion Elements' in Noida. The project, registered with the Real Estate Regulatory Authority (RERA), will feature around 320 housing units on a 4.7-acre site, with the first phase offering about 160 units for sale. The project, boasting a total developable area exceeding 10 lakh sq ft, will offer modern amenities including electric vehicle charging infrastructure, a clubhouse, fitness centre, swimming pool, and landscaped gardens. The investment will be covered through internal accruals and advance collections from customers.Read more

Sundream Group, a prominent Noida-based real estate developer, reveals plans for a substantial investment in its Anthurium Business Park. With an additional INR 250 crore earmarked for the project's second phase, the total investment now stands at approximately INR 522 crore. This move highlights Sundream's commitment to upscale commercial development. Located in Sector 73, Anthurium Business Park offers over 1,052,000 square feet of premium office space across two towers, equipped with cutting-edge AI technology. The expansion is poised to invigorate Noida's commercial landscape, attracting leading businesses and bolstering the local economy with new job opportunities and upscale retail options.Read more

The Noida International Airport in Jewar is nearing completion, with trial operations expected to begin by the end of June. Recognized as the "Jewar airport," this project has transformed the region into an airport town, attracting real estate investments and economic opportunities. Local residents are capitalizing on this growth through land investment and property rentals. Land prices are expected to rise significantly post-operationalization, prompting investors to buy plots nearby. Additionally, the surge in housing demand has led residents to rent out rooms and buildings, fetching monthly rents ranging from INR 5,000 to INR 8,000. The state government is developing a metro connection to enhance connectivity. However, long-term prosperity depends on human capital development, prompting calls for improved educational facilities and vocational training institutes.Read more

The Yamuna Expressway Authority has relaunched its group housing scheme, offering six plots in sector 22D near Noida International Airport. Aimed at generating at least INR 450 crore in revenue, the scheme follows an unsuccessful tender in 2013. Plots vary in size, with prices ranging from INR 61.5 crore to INR 135.3 crore. Bidders must submit applications and earnest money by May 20, with an e-auction scheduled for June 10, 2024. Payment flexibility allows developers to pay in installments over five years. Proximity to key developments like the proposed film city and Eastern Peripheral Expressway enhances the scheme's appeal.Read more

Noida Authority's extensive crackdown targeted land mafias across various sectors and villages, particularly along the Noida Expressway, where encroachments on government land were rampant. Notorious for attempting to swindle unsuspecting buyers, these mafias had encroached upon areas like Sorkha Zahidabad, Salarpur, Asadullapur, Mohiyapur, Sadarpur, Mamura, Garhi Samastipur, Gulawali, and Salarpur Khadar. The authority's anti-encroachment drive aimed to reclaim control over these illegally occupied lands, freeing up approximately 18 acres valued at INR 308 crore.Encroachments were notably cleared from Sorkha Zahidabad and Salarpur, with a combined value exceeding INR 195 crore.Read more

Homebuyers and residents in Noida and Greater Noida West are launching a "No Registry, No Vote" campaign ahead of the 2024 Lok Sabha elections to protest pending registries. Frustrated by years of unfulfilled promises, they refuse to cast votes or choose NOTA until their demands are met. With over 1.15 lakh stalled flats awaiting resolution, residents demand expedited action from authorities. Despite government directives, the situation remains unresolved, leaving buyers in limbo. The campaign serves as a powerful reminder of the importance of addressing systemic issues impacting citizens' lives, urging politicians to heed their voices and take meaningful action.Read more

The Noida Authority is addressing long-standing delays in flat registrations by directing developers to complete registrations within 15 days if they've paid 25% of their dues, totaling INR 11,175 crore. This initiative aims to expedite ownership rights for homebuyers. Positive progress has been made, with over 1,400 flat registrations approved across 15 projects, benefiting around 300 buyers so far. Encouraging remaining developers to settle dues could further alleviate the backlog, potentially benefiting over 1,100 flats. These steps signify a commitment to resolving delays and facilitating property ownership for Noida residents.Read more

YEIDA allocates over INR 650 crore to acquire 244 hectares of land for Sector 10, near the upcoming Noida International Airport. This funding aims to expedite industrial development, including electric vehicles, plastic processing, footwear, handicrafts parks, and a transport hub. Social impact assessments have progressed, with an anticipated completion date of 2024. The district administration oversees land acquisition, including the Noida International Airport expansion. Upon completing formalities, the acquired land will be allotted for industrial parks. Sector 10's strategic location, near the greenfield airport and Yamuna Expressway, positions it as a prime destination for industrial ventures, attracting various enterprises.Read more

Noida's Sector 120 stands as a bustling nexus of residential and commercial vitality, centrally positioned within the city's core. Distinguished by modern infrastructure and meticulous planning, it offers towering residential towers, vibrant shopping centers, and corporate headquarters. Enhanced by seamless connectivity via the Noida-Greater Noida Expressway, it beckons both residents and businesses. In March, Amrapali Zodiac shines as the top-selling residential complex, followed by RG Residency and Prateek Laurel. Offering a spectrum of options, from lavish abodes to budget-friendly havens, Sector 120 caters to diverse preferences. With prices ranging from INR 33 Lakhs to INR 1.08 crores, it epitomizes inclusivity, accommodating various budgets and lifestyles.Read more

The National Green Tribunal has issued notices to the UP government, Noida, Greater Noida authorities, and other bodies following a petition alleging illegal construction on farmland. The petition, filed by a former BJP councillor from Ghaziabad, highlights concerns over the encroachment of fertile farmland and unauthorised plotting in Noida and Greater Noida, prompting the NGT to schedule a hearing on July 8. The NGT's intervention underscores the need for strict enforcement of environmental regulations and urban planning to address environmental degradation and safeguard agricultural land in the region.Read more

Noida Authority struggles as only 14 out of 57 projects sign up for UP government's rehabilitation package, despite much efforts. This package was initiated based on Amitabh Kant-led panel recommendations and it aims to address issues of pending dues and flat registrations. Of the identified projects, builders of 35 agreed to the deal and about 14 submitted 25% of recalculated dues, enabling registration of 4,000 flats. The Authority anticipates more registrations in April as builders consider deposits in the new financial year. The Stamps department has organised camps to expedite registries, registering 500 flats so far.Read more

The National Company Law Appellate Tribunal (NCLAT) overturned a petition submitted by homebuyers of a project in Greater Noida, seeking insolvency proceedings against Ansal Hi-tech Township Ltd. The petition sought insolvency proceedings for a project in Greater Noida. NCLAT reiterated NCLT's ruling, stating the homebuyers didn't meet criteria for filing insolvency as they belong to various projects. The dispute centered on the definition of 'Sushant Megapolis' as a unified project. The tribunal's decision signifies a setback for the homebuyers' efforts to address their grievances through the insolvency route.Read more

PNT Reporter

A dispute over land acquisition for a major sports complex project in Noida has reached the Allahabad High Court. ATS Homes, the project's developer, accuses the Noida Authority of not providing the necessary 25 acres of land for the project's initial phase, despite plans for a 125-acre "Sports City" in Sector 152, Noida. The court has raised concerns about the delay and directed the Noida Authority to respond by April 3. The project, featuring an international cricket stadium and other sports facilities, could enhance Noida's infrastructure and promote a healthy lifestyle, pending resolution of the land allotment issue.Read more

PNT Reporter

The Greater Noida Industrial Development Authority (GNIDA) oversaw 1,000 flat registrations across 30 group housing societies as part of a state government rehabilitation package for stalled projects. Plans are set for an additional 10,000 registrations, with the majority in Greater Noida West. Developers owe INR 1,800 crore, with relief options available. Consent obtained from 75 out of 96 defaulter projects may lead to 15,000 flat registrations. Similar initiatives in Noida and Yamuna aim to streamline processes, fostering trust and development.Read more

The National Company Law Appellate Tribunal (NCLAT) has set a deadline, warning that if the disputes between the Yamuna Expressway Industrial Development Authority (YEIDA) and Suraksha Group over Jaypee Infratech are not settled by the second week of April, the tribunal will proceed with the case. Suraksha Group's resolution plan for Jaypee Infratech was approved by the National Company Law Tribunal (NCLT) last year, but progress has been hindered by challenges from YEIDA and Jaiprakash Associates. The NCLAT has directed the Monitoring Committee overseeing the insolvency process to file a status report within two weeks, indicating potential relief for over 20,000 homebuyers invested in Jaypee Infratech projects.Read more

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

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

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

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

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