Noida, Greater Noida builders seek one-time settlement scheme for land dues | KNOW DETAILS
2 years ago

Noida, Greater Noida builders seek one-time settlement scheme for land dues | KNOW DETAILS

India TV News  

Noida news : Representatives of realtors' bodies CREDAI and NAREDCO met Ritu Maheshwari, the CEO of Noida and Greater Noida development authorities and demanded a one-time settlement scheme to clear their land dues citing liquidity crunch. "In a meeting with the CEO of Noida and Greater Noida Authorities Ritu Maheshwari yesterday, real estate developers from NAREDCO and CREDAI urged the Authorities to bring in One Time Settlement Scheme similar to the one adopted by the Haryana Government, to tide over the situation arising from the recent order of the Supreme Court," the association said in a statement. NAREDCO-Uttar Pradesh President RK Arora said the developers have been able to convince the authorities that in the absence of an effective resolution to the problem, possession of flats to about 1.5 lakh home buyers, a significant amount of land dues of the authorities and investment of a large number of banks and financial institutions all are at stake. "As a result of the same, payment of land premium due to Noida and Greater Noida authorities from developers have since tripled taking into account the land premium, interest and penal interest apart from other demands like lease rent, farmer compensation etc," Arora said in the letter.

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History of this topic

Greater Noida body warns builders to initiate flat registry in 15 days
3 months, 2 weeks ago

Greater Noida body warns builders to initiate flat registry in 15 days

Hindustan Times  

The Greater Noida Industrial Development Authority has issued a stern directive to builders to initiate the flat registry process for buyers within 15 days, warning that non-compliance will result in severe consequences, including project cancellations and possible referral of cases to the Economic Offences Wing, said officials on Sunday. According to officials aware of the matter, builders who have failed …

NCR real estate news: Developers demand more time, waivers to complete stuck housing projects
3 months, 3 weeks ago

NCR real estate news: Developers demand more time, waivers to complete stuck housing projects

Hindustan Times  

Real estate developers in Noida and Greater Noida, in a letter to the state and central government as well the Noida and Greater Noida authorities, have demanded additional time, more waivers, relief from banks and other benefits to deliver stuck housing projects in the National Capital Region. The authority in its report to the state government on Saturday said they …

Buying a House in Greater Noida Will Become Costlier as Property Prices Rise by 5%
4 months, 2 weeks ago

Buying a House in Greater Noida Will Become Costlier as Property Prices Rise by 5%

News 18  

Buying property in Greater Noida is about to become more expensive. The Noida Authority announced an increase in the allotment rates for all property categories by 5 to 5.5 percent, effective April 1, 2024. SK Singh, ACEO of Greater Noida Authority, stated that the proposal was approved during the 135th authority meeting held in June. New Rates for Key Sectors …

Planning to Buy a House? Property Prices Surge in Noida as Land Allotment Rates Increase by 6%
5 months ago

Planning to Buy a House? Property Prices Surge in Noida as Land Allotment Rates Increase by 6%

News 18  

Property prices in Noida, the bustling satellite town adjacent to New Delhi, are set to climb higher following a decision by the Noida Authority to increase land allotment rates. Officials familiar with the matter have confirmed that the authority has raised land allotment rates across all categories except commercial and corporate house plots. This meeting also formalised the decision to …

Yeida to prepare new guidelines for land allotment after M3M dispute
6 months, 1 week ago

Yeida to prepare new guidelines for land allotment after M3M dispute

Hindustan Times  

In the wake of a dispute over the allotment of plots to realtor M3M Group, the Yamuna Expressway Industrial Development Authority has decided to formulate new guidelines for auctioning the land before allotment of the same to realtors or businessmen. Sources in Yeida said in the new rules, if only a single bidder comes forward to buy a plot in …

Noida authority to act against 12 realtors for not paying dues
7 months ago

Noida authority to act against 12 realtors for not paying dues

Hindustan Times  

The Noida authority on Thursday said it has decided to take stringent action against realtors who are yet to clear their land dues, despite the government announcing a policy last December that gave builders a chance to avail of rebates on interest rates and clear dues. There are 57 defaulter projects in Noida, and of these, developers of around 30 …

Noida directs real estate developers to pay dues, obtain registry permission
7 months, 2 weeks ago

Noida directs real estate developers to pay dues, obtain registry permission

Hindustan Times  

The Noida authority on May 9 directed real estate developers to clear their dues and obtain permission for registry of the apartments in favour of thousands of home-buyers who have been suffering for last many years. The authority has made it clear during a meeting held with the realtors on Wednesday in Greater Noida’s Knowledge Park-IV office that if they …

Greater Noida authority holds talks with builders on homebuyer registry
7 months, 2 weeks ago

Greater Noida authority holds talks with builders on homebuyer registry

Hindustan Times  

The Greater Noida Industrial Development Authority on Wednesday held a meeting with real estate developers from industry body CREDAI, directing them to pay dues soon and ensure registry of flats in scores of projects in the area. He asked the builders who have not deposited 25 per cent of the total outstanding amount on their projects to make the payment …

UP govt asks Noida, Greater Noida to cancel allotments of realtors who still have land dues
7 months, 2 weeks ago

UP govt asks Noida, Greater Noida to cancel allotments of realtors who still have land dues

Hindustan Times  

Uttar Pradesh’s additional chief secretary Manoj Kumar Singh has directed the Noida, Greater Noida and the Yamuna Expressway authorities to start cancelling allotments made to realtors. NThe policy was meant to help a large section of homebuyers in Noida, Greater Noida and Yamuna expressway areas, where an estimated 240,000 to 350,000 housing units are currently lying stalled owing to several …

After Supreme Court order, Noida likely to approve Unitech’s building maps
7 months, 3 weeks ago

After Supreme Court order, Noida likely to approve Unitech’s building maps

Hindustan Times  

Six days after the Supreme Court ordered the Noida and Greater Noida authorities to grant approval to the revised building plans of Unitech’s residential projects by May 31, the Noida authority on Thursday said it is studying the order in detail to prepare a road map to deal with Unitech’s realty projects, which are stuck for more than a decade, …

Noida and Greater Noida flat registries: 5 things homebuyers should know
8 months, 3 weeks ago

Noida and Greater Noida flat registries: 5 things homebuyers should know

Hindustan Times  

Noida authority has said that it has given permission for the registry of a total of 13,639 apartments after real estate developers of 35 housing projects gave their consent to clear their financial dues. After deducting the penal interest, these 35 developers have given their consent to pay 25% of total dues to become eligible for the registry of the …

No respite in sight for home buyers as Noida Authority to challenge High Court order
9 months ago

No respite in sight for home buyers as Noida Authority to challenge High Court order

Hindustan Times  

Two weeks after the Allahabad High Court ordered Noida Authority to execute registries in the name of home buyers in Cloud Nine’s Lotus Espacia housing project in Sector 100, the authority has decided to challenge the court order, thereby causing more delay in the process. The Noida Authority has decided to challenge the High Court order requiring it to execute …

Greater Noida homebuyers protest over seven-year delay in handing over apartments
9 months, 2 weeks ago

Greater Noida homebuyers protest over seven-year delay in handing over apartments

Hindustan Times  

The homebuyers at the Hemisphere housing project in Greater Noida’s Sector 27 protested on Wednesday against the seven-year delay in handing over their units to them by the developer. Real estate firm Royalgolf Link City Projects Private Limited launched this housing project on 100 acres in 2015-16, promising completion and delivery in three-and-a-half years. The Greater Noida authority in July …

Builders agree to pay dues, Noida authority gives nod to process registries of 13,600 flats
9 months, 3 weeks ago

Builders agree to pay dues, Noida authority gives nod to process registries of 13,600 flats

Hindustan Times  

The Noida authority has decided to give permission for executing registries of at least 13,600 apartments in 35 stalled housing projects after the respective real estate developers gave their written consent to pay land dues. The 35 projects in Noida where registries will take place include Hyde Park in Sector 78, Prateek Fedora in Sector 61, Apex Homes in Sector …

Stalled real estate projects: Noida Authority tells realtors to opt for relief package and clear dues by Feb 22
10 months, 1 week ago

Stalled real estate projects: Noida Authority tells realtors to opt for relief package and clear dues by Feb 22

Hindustan Times  

The Noida Authority has fixed February 22 as the last date for realtors to accept a waiver and clear their land cost dues in accordance with the terms of a realty policy, notified by the Uttar Pradesh government last December, officials in the know of the matter said on Thursday. Noida Authority has fixed February 22 as the last date …

Greater Noida pays ₹1100 crore dues to banks
10 months, 3 weeks ago

Greater Noida pays ₹1100 crore dues to banks

Hindustan Times  

The Greater Noida authority has started undertaking steps to improve its financial health as it is faced with the challenge of paying off around ₹5,000 crore loan to different banks and the Noida authority. {{^userSubscribed}} {{/userSubscribed}} {{^userSubscribed}} {{/userSubscribed}} The Greater Noida authority officials says it took a ₹6,000 crore loan in the past 10 years from banks and the Noida …

Greater Noida authority holds meeting with realtors
11 months, 2 weeks ago

Greater Noida authority holds meeting with realtors

Hindustan Times  

Uttar Pradesh additional chief secretary Manoj Kumar Singh, who is also chairman for the Greater Noida authority, on Sunday met 52 realtors and directed them to make use of the recently announced policy to address the financial issues being faced by the real estate sector. The Noida authority directed the promoters to make use of the recently announced policy to …

Sports City: Allahabad high court sets aside Noida’s ban on registries, map revisions
1 year, 1 month ago

Sports City: Allahabad high court sets aside Noida’s ban on registries, map revisions

Hindustan Times  

In a major relief to homebuyers, the Allahabad high court on Monday set aside the Noida authority’s 201st board meeting order banning the approval of building map revisions and also registry of the apartments at the Sports City in Sector 150, located along the Noida-Greater Noida Expressway. The move comes after realty firm Ace Infracity Developers Private Limited filed a …

Noida Authority CEO meets builders over ₹26,000 crore pending dues
1 year, 4 months ago

Noida Authority CEO meets builders over ₹26,000 crore pending dues

Hindustan Times  

Noida Authority CEO Lokesh M on Friday held a meeting with two dozen real estate developers to discuss the recovery of ₹26,000 crore in pending dues and difficulties faced by home buyers in 60 group housing projects, officials said. Representative image Expressing angst at the situation, the CEO directed his department that action, including the issuance of recovery certificates, should …

Central committee proposes several measures to provide relief to homebuyers in UP. Know all suggestions here
1 year, 4 months ago

Central committee proposes several measures to provide relief to homebuyers in UP. Know all suggestions here

India TV News  

In lieu of several stalled real estate projects in Uttar Pradesh that have adversely affected prospective homebuyers, an expert committee has proposed several measures, such as introducing changes in the insolvency law, to provide relief for builders so they can complete their projects and hand over the buildings to buyers. According to a report by Hindustan Times, the central committee …

Uttar Pradesh: Comprehensive action plan in 2 weeks to resolve stuck up Noida housing projects
1 year, 7 months ago

Uttar Pradesh: Comprehensive action plan in 2 weeks to resolve stuck up Noida housing projects

India TV News  

The wait of homebuyers in Noida and Greater Noida will end soon as authorities, banks and builders struck an agreement to find out a way to push stuck up housing projects in the region. A plan to resolve the logjam between stakeholders of group housing projects in Noida, Greater Noida is expected in two weeks. A senior Uttar Pradesh government …

Noida sees major jump in property prices with circle rates going up | READ DETAILS
1 year, 7 months ago

Noida sees major jump in property prices with circle rates going up | READ DETAILS

India TV News  

Business news: Property prices in Uttar Pradesh's Noida are going to get costlier in the days to come. During the board meeting of Noida Authority held on April 23, the allotment rates for residential plots, group housing and institutional plots have been increased by six to 10 per cent. In 2022 as well, the Noida Authority had increased the allotment …

Top court dismisses plea on interest cap for Noida homebuyers
1 year, 9 months ago

Top court dismisses plea on interest cap for Noida homebuyers

Hindustan Times  

The Supreme Court on Tuesday declined to recall its November 2022 order whereby it had lifted a cap on interest payable by builders to Noida and Greater Noida authority at 8% per annum on outstanding payments, and permitted the Uttar Pradesh government to decide appropriately. The Supreme Court on Tuesday declined to recall its November 2022 order whereby it had …

Flat registrations in Noida, Greater Noida: Supreme Court reverses 8% interest cap for land cost dues
2 years, 1 month ago

Flat registrations in Noida, Greater Noida: Supreme Court reverses 8% interest cap for land cost dues

Hindustan Times  

The Supreme Court on Monday recalled its June 2020 order capping interest payable by builders to Noida and Greater Noida authority at 8% and clarified that this benefit would apply only to Amrapali projects, being constructed by state-owned NBCC since July 2019. The direction by the court came on an application moved by the Noida and Greater Noida authorities, claiming …

Noida land rate: All you need to know about latest revisions
2 years, 4 months ago

Noida land rate: All you need to know about latest revisions

Live Mint  

In Noida, buying residential, industrial and institutional have become more expensive as the authority has decided to increase the property rates by over 20% for several categories. These include revision of land allotment rates, finalization of scheme brochure for Industrial, institutional, group housing and residential properties to attract investment in the region. Take a look at latest revisions in Noida …

NOIDA Authority's Demolition Drive Along Yamuna Floodplains Temporarily Halted By Allahabad High Court
2 years, 6 months ago

NOIDA Authority's Demolition Drive Along Yamuna Floodplains Temporarily Halted By Allahabad High Court

Live Law  

The Allahabad High Court on Tuesday ordered a conditional stay on the demolition drive being carried out by the Noida Authority along the Yamuna floodplains.The bench of Justice Manoj Kumar Gupta and Justice Sameer Jain issued this order on a plea challenging a public notice issued by the NOIDA Authority on June 8 declaring that no construction is permissible in …

Builders get extension to complete pending projects in Noida till Dec 2021
4 years, 4 months ago

Builders get extension to complete pending projects in Noida till Dec 2021

India Today  

The Noida Authority on Tuesday extended the deadline for over a dozen builders to complete the pending projects here by December 31, 2021 under its ''zero period'' policy, an official statement said. According to the zero period policy, announced last December, builders will be exempted from paying penal interest on outstanding land dues for the number of years their projects …

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