In Noida, the fate of Unitech housing projects hangs in the balance as thousands of anxious homebuyers await a crucial Supreme Court hearing. The projects, delayed for years due to the company's promoter's legal troubles, are now under a government-appointed board. The Supreme Court had earlier directed the submission of revised layout plans, emphasizing the commencement of construction without upfront payment of dues. The recent court order urged collaboration between Unitech and Noida Authority to resolve issues. Noida Authority, however, insists on clearing the realtor's Rs 10,000 crore dues before approving revised maps.Read more

Greater Noida West has become a hotspot for real estate investors as property prices surged by an impressive 21.6% YoY, according to a recent Magicbricks report. The study highlights a growing demand for spacious residences, with apartments exceeding 1,250 sq ft contributing to 54.5% of the total demand. The area's strategic location and affordable housing options have attracted both domestic and international investors, with NRIs from the United States, Canada, United Kingdom, and UAE constituting 85% of the international demand. This surge solidifies Greater Noida West as a thriving real estate destination.Read more

Yamuna Expressway Industrial Development Authority (YEIDA) is reportedly planning a new residential sector, likely named Sector 5, near the upcoming Noida International Airport. YEIDA aims to acquire 1,100 hectares of land for this purpose, anticipating strong buyer interest. The proposal includes dedicating 50% of the land for a residential plots scheme, with the remaining portion allocated for group housing societies. The acquisition process is expected to start soon, with completion anticipated by December 2023 or January 2024. YEIDA plans direct connectivity between Yamuna Expressway and Chola Railway Station through the new sector, enhancing overall accessibility and appeal.Read more

The Uttar Pradesh government has sanctioned a Rs 1,779 crore interest-free loan to the Yamuna Expressway Industrial Development Authority (YEIDA) for land acquisition. This funding will support the development of five industrial parks, including a logistics park and an electronic manufacturing cluster, covering over 1220 hectares near the Noida International Airport and along the expressway. YEIDA will match the state's contribution and is aiming to repay the loan over 25 years. This move marks a significant step in boosting industrial growth and infrastructure development in the region.Read more

The Greater Noida Industrial Development Authority (GNIDA) is set to allocate land for the establishment of shopping malls, hotels, and commercial complexes. Under the scheme, 22 plots of varying sizes will be auctioned, with registration closing on December 1 and fee submission deadline on December 5, 2023. Plots, strategically located in six sectors, offer proximity to major corridors and the upcoming Noida International Airport. Prices range from Rs 21.94 crore to Rs 109.1 crore, with a 10% earnest money deposit.Read more

The New Okhla Industrial Development Authority (Noida) has introduced two plot allocation schemes to boost industrial and commercial activities in the region. The registration process for commercial builder plots, ranging from 812.73 sq m to 51,417.25 sq m, has begun. The Commercial Plots Scheme targets sectors 32, 35, 40, 50, 94, 96, 97, 98, 105, 108, 124, 132, and 135 in Noida. These plots will be allocated through an e-auction process, with the bidding date to be announced after a pre-bid meeting on November 21. Additionally, an open-ended scheme for plot allocation in Noida Industrial Area Phase 1 and 2 will commence registration on November 21.Read more

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

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

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

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

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

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

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

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

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

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

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

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

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

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