The Yamuna Expressway Industrial Development Authority (YEIDA) has witnessed an overwhelming response to its residential plot scheme near the upcoming Noida International Airport. The scheme, launched on August 8, offers 1,184 plots in various sizes, and it has garnered massive interest with 1.73 lakh users registering and 1.1 lakh applications submitted. The plots are situated in Sectors 16, 17, and 20, with prices set at Rs 24,600 per square meter. YEIDA plans to allocate the plots through a draw of lots on October 18, giving preference to those who have paid the 10% earnest money deposit. This surge in interest is attributed to the rapid development of the Noida International Airport and associated infrastructure projects.Read more

Noida Authority has granted a month-end deadline, expiring on August 31, for 14 defaulting developers to create escrow accounts in a bid to recover outstanding dues. Six developers have already complied by initiating such accounts. This initiative, enforced after 59 developers owing a combined Rs 7,000 crore were asked to establish escrow accounts two months earlier, aims to prevent funds diversion. CEO Lokesh M underlined efforts to address builder-buyer concerns and warned of recovery certificates if dues aren't cleared. Additionally, the Authority seeks to oversee the Ganga Jal project, introduce electric buses, and advance elevated road plans.Read more

The Noida and Greater Noida authorities have announced a comprehensive six-point plan to resolve delays in housing projects and recover outstanding dues. Key measures include cancelling inactive project allotments and integrating co-developers to complete viable stalled projects. With builders owing over Rs 41,000 crore collectively to both regions, the new strategy also offers flexibility in payments and innovative solutions for projects nearing completion but hindered by liabilities. These actions were derived from discussions during the chief minister's recent Noida visit and a central government committee's recommendations.Read more

Bhutani Infra, a Delhi-NCR based real estate developer, is set to construct a commercial high-street mall in Noida sector 133, investing Rs 500 crore in the endeavour. The project will span around 3 lakh sq ft in its first phase and is expected to be completed within 30 months. This initiative is in addition to Bhutani Infra's ongoing projects, including Bhutani Cyberthum and Avenue 62, both located in Noida. The upcoming mall will offer premium retail space, a food court, and wellness facilities, contributing to the region's commercial landscape.Read more

The residents of NOIDA's Kasna B-Block, living on abadi plots designated under the kisan quota, are facing dire conditions due to the absence of proper infrastructure. Despite being in proximity to administrative offices, the area lacks essential amenities like sewage systems, drains, and functional roads. The single access road is unpaved and filled with potholes, worsened by recent monsoon rains and nearby drainage overflow. Complaints to the GNIDA have reportedly yielded little action, leaving residents disillusioned. Water connections have been paid for but remain absent, sewers are non-functional, and road repairs are incomplete. Residents are grappling with neglect and unfulfilled promises, despite their legal entitlement to basic infrastructure.Read more

After a 23-year-long legal dispute, Noida Authority is finally moving forward with the development of Sector 42 as a residential area. The original plan for the sector's development was approved in 1997, but it was delayed due to a legal challenge from the Central Employees Cooperative Housing Society, which claimed ownership of land within the sector. After years of legal proceedings, the Supreme Court ruled that the cooperative society members would receive apartments and the remaining land could be developed by the Authority. The Authority has now approved a revised layout for Sector 42, which includes residential plots and various amenities. This move is expected to generate significant revenue for the Authority while addressing the city's need for residential space.Read more

In a move towards greater efficiency, the three industrial development authorities in Gautam Budh Nagar are collaborating to establish uniformity in building bylaws, plot allocation charges, and allocation procedures. Directed by the infrastructure development commissioner, officials are presently reviewing existing policies and are expected to finalize a uniform framework within two months. The initiative aims to simplify new scheme implementation and offer convenience to diverse allottees. Currently operating under distinct policies, the authorities will harmonize processes, addressing concerns arising from disparities. The strategy also extends to public transport, road construction, and traffic management through a regional connectivity plan.Read more

Around 30 Resident Welfare Associations (RWAs) from Greater Noida recently met with the CEO of Greater Noida Industrial Development Authority (GNIDA) to address various civic issues. They raised concerns about poor water quality and low pressure, a 10% annual increase in water tariffs, inadequate garbage collection, and the absence of a dedicated dog policy. Despite the meeting taking place nearly two weeks ago, the RWAs report no noticeable action on the ground. The GNIDA officials have promised to tackle these issues, including water problems and sanitation, within a specified timeframe.Read more

A temple that was initially erected in the parking lot of Gaur City 2 society disappeared following objections from residents. Following discussions involving GNIDA officials, police, builders, and residents, a new location near the society park was identified and approved for the temple. GNIDA's formal approval will be obtained once NOCs are secured from the majority of flat owners, while ensuring that utility lines are unaffected. Builders in the area must adhere to approved layouts and obtain authority approval before making any modifications or introducing new structures.Read more

Greater Noida now boasts an operational senior housing complex called "Saral Satya Legacy" thanks to DS Group. The 12-acre complex provides rental senior living that is completely furnished. It attempts to improve the quality of life for inhabitants by providing services including wholesome meals, medical help, and security. The development includes a cutting-edge club, beautiful gardens, and a range of housing alternatives. This project, which reflects a new standard in senior living, demonstrates the DS Group's dedication to comprehensive care and community involvement.Read more

Lokesh M, the newly-appointed CEO of Noida Authority, met with over 24 real estate developers to address the whopping Rs 26,000 crore in pending dues and homebuyers' concerns. He has ordered swift action against defaulting builders, including issuing recovery certificates. Concerns about construction quality, parking, and waterlogged basements were also discussed. Builders have been given a deadline of August 26 to open escrow accounts as previously directed. This move underscores a commitment to transparency, accountability, and ensuring buyers receive quality homes.Read more

Noida is preparing to review circle rates after a three-year hiatus. Property surveys will be conducted to ensure accurate recalibration of rates in various categories. The district administration has directed sub-registrars and magistrates to assess prevailing circle and market rates. Inputs from departments like PWD and Forestry will be considered for potential rate adjustments. The move comes after rates remained unchanged from 2020 to 2022 due to pandemic-induced real estate challenges. The revised rates aim to reflect actual property values and address demands from sectors like farming for fair compensation.Read more

In the bustling real estate hub of Noida, Uttar Pradesh, where the prevailing issues revolve around project delays and unfinished constructions, a mere 5% of the issued Recovery Certificates (RCs) by the real estate ombudsman have seen successful recovery since 2018. This disheartening statistic highlights the persistent challenges faced by homebuyers in receiving compensation and raises concerns about the effectiveness of regulatory measures in the region's property market. Despite efforts to address grievances, the majority of unresolved cases continue to test the efficacy of consumer protection mechanisms.Read more

Noida is poised for a substantial expansion across 21,000 hectares, endorsed in the draft Master Plan 2041 for Dadri-Noida-Ghaziabad Investment Region (DNGIR). This enlargement encompasses 20 Noida and 60 Bulandshahr villages. Notably, 8,800 hectares (40%) are slated for industries, 2,500 hectares (12%) for residences, and 3,780 hectares (18%) for green and recreational spaces. Phase one's Rs 8,500 crore investment will transform 3,000 hectares, anticipating a staggering Rs 40,000 crore influx and generating 50,000+ jobs. The expansion aligns Noida with sustainable growth, harmonizing industry, homes, and leisure spaces.Read more

In a proactive move, the UP government has initiated a pilot endeavour involving real estate giant Hawelia Group, which has assumed control of a 22-acre incompletely executed venture named Shree Radha Sky Garden in Greater Noida. Under this transition, the new developer is slated to complete and deliver more than 2,000 flats, exemplifying a promising step towards project revival and housing provision. The proposed co-development policy enables developers to seek market funding for project completion. The move aims to address the growing issue of stalled real estate projects in the region.Read more

A finance department audit has exposed financial irregularities amounting to Rs 2,313 crore across three Noida industrial development agencies between 2012 and 2016. Notable discrepancies include inflated floor area ratios to housing developers, leading to a Rs 1,100 crore loss for the Greater Noida Authority, and questionable financial practices by the Noida Authority. Noida CEO Lokesh M indicates their internal report might offer a contrasting view. Further discussions are slated for August 22.Read more

The Yamuna Expressway Industrial Development Authority (YEIDA) is offering an enticing chance for homebuyers with two residential schemes near the upcoming Noida International Airport. The flat scheme presents 468 luxurious flats, while the plot scheme offers 1,184 plots ranging from 120 to 2,000 square meters. Interested plot scheme applicants can submit applications until September 1, with a lucky draw on October 18 determining plot allotment in sectors 16, 17, and 20, priced at Rs 24,600 per sqm. The schemes have garnered significant interest due to the progress of the Noida International Airport and booming infrastructure along the Yamuna Expressway.Read more

Over the weekend, Gautam Buddha Nagar residents held demonstrations, pressing for urgent resolutions on halted flat registries and incomplete housing projects. Representing 25 Greater Noida West societies, the protestors emphasized the need for quick action on government commitments. Meetings between NEFOWA, GNIDA CEO Ravi Kumar NG, Jewar MLA Dhirendra Singh, and other officials took place. Civic concerns like rain water logging due to a Sector 51 wetland and other maintenance issues were also discussed. Noida Authority CEO Lokesh M proposed a survey of the problematic wetland to find solutions. Residents await tangible actions following these discussions.Read more

Residents of Logix Zest in Noida, India, are facing a financial setback as they are required to pay an additional Rs. 90 lakhs for power expenses, on top of the already hefty Rs. 3 crore they had paid earlier. The sudden escalation in costs has raised concerns about transparency and accountability, leading residents to demand a thorough breakdown of expenses and an independent audit. The real estate sector in Noida may suffer reputational damage due to incidents like these, prompting potential homebuyers to exercise caution and research before investing. The management of Logix Zest has promised to address residents' concerns in an upcoming meeting.Read more

The Noida Authority plans to open escrow accounts for 59 developers who have defaulted on payments. The move aims to recover dues and reduce financial losses caused by developers diverting funds to other projects. Escrow accounts require developers to deposit 50% of the collected funds from homebuyers and other sources, giving the Authority access to withdraw from these accounts when necessary. Four accounts have already been opened for certain projects, and 15-20 more are expected to follow. This decision, backed by UP-RERA, is hoped to recover over Rs 7,000 crore in dues, benefiting both the Authority and property buyers.Read more