Noida Authority Proposes To Build Two Bridges

Noida Authority has, on last Friday, said that they are planning to construct two bridges across the Yamuna to facilitate better connectivity between Noida and Faridabad.

DELHI NCR: Noida Authority believes that the troubles of the daily commuters of Noida will be cut short if two bridges across the Yamuna are built. With this proposal the authority has approached Haryana Urban Development Authority. Continue reading

Noida flat buyers stumble at Registration hurdles

Noida and Greater Noida development authorities have warned the default developers. The authorities have asked them to pay the due amount or to be ready for facing severe actions from the part of authority.
Home buyers are affected by the new decision of  Noida Authorities not to sanction the layout plans of default developers.

Home buyers are affected by the new decision of Noida Authorities not to sanction the layout plans of default developers.

It seems there is no end for flat buyers in Noida and Greater Noida. The latest registration hurdles has become a pouring of oil to their already- burning issues.

Those builders who have due-payments will not be allowed to register flats in the name of flat buyers. As a result those who have booked flats in Noida and Greater Noida will be troubled.

According to the latest reports, available with the authority, the government has lost Rs.4000 Cr in the form of default payment. Around sixty developers have not paid back the due amount.

Speaking on the issue Mr. H K Verma, additional CEO at Greater Noida Authority, said that the authority will not issue completion certificate to the default developers. He added that layout plans also will not be approved.

Around sixty builders are to pay the two authorities Rs.6000 Cr. The list contains some of the top and well renowned developers.

Noida flat buyers see no rays of hope ahead.

Noida flat buyers see no ready to-move-in home ahead, but barren land.

Mr. Verma informed that the authority is forced to take such harsh stand. It has to find sufficient fund for compensating the farmers. On the other side the Authorities are facing a severe financial crunch now.

Considering the problems of the flat buyers, the Authorities were thinking of not passing any such orders. However now they have no option to tackle the situation in which the Authorities are to pay huge amounts to the farmers as compensation.

Several notices were issued to the default developers. However the builders did not take any action or take the notices seriously. This prompted the Authorities to take tougher stand against these builders. Whatsoever, always the burden is upon the poor home buyers. Their wait to own their dream homes seems to get longer with this new issue.

Noida Authority Warns The Default Developers

Noida Authority has recently found out that nearly fifty real estate developers are not paying the due payments to the Authority. It is estimated the government loses around Rs.3000 Cr due to the default buyers.
Many Builders are identified by Noida Authority as default payers.

Many Builders are identified by Noida Authority as default payers.

BSP government had made it a rule to pay a mere 10% of the total amount for attaining land parcels for ‘group housing’ projects. This scheme was introduced with a plan to make Noida an affordable home-destination. However, recently, the Noida authority has found out that many developers have stopped the payments.

Realizing that many developers have skipped paying off the amount prescribed by the scheme, three Gautam Budh Nagar Authorities plans to amend the scheme. Sources close to these authorities said that the amendment may be applied in their next board meeting. Continue reading

Noida – Greater Noida Metro Link Details Announced

Noida Authority, while announcing the details of proposed metro link between Noida and Greater Noida on last Friday, revealed that two more metro stations are added.
Noida metro link details announced

Noida metro link details are announced by the Authority.

While announcing the details of the proposed Noida – Greater Noida metro link, the officials said that two more stations are added in the proposed  metro line. The officials said that the population is increasing in the areas of Greater Noida and on the Expressway. Considering this growing population the Authority has decided to add two more stations in the line.

As per the available sources, the proposed 29.707 km long metro line will have 22 metro stations. The metro line will be passing through Noida Sectors – 32, 51, 83, 101, 143, 147, Alpha and Delta, Knowledge Park 2 and Pari Chowk. Continue reading

Real Estate Scam Worth Rs.3800 Cr Unearthed In Noida

Noida Authority has unearthed Real estate scam worth Rs.3800 Cr in Noida. The real estate scam occurred in 2011.
real estate scam shakes Noida

Real estate scam strikes Noida again.

Noida real estate is shocked as the Noida Authority unearthed a bigger real estate scam. The scam occurred while BSP was ruling the state. The BSP government had leased three lakh 81 thousand sq. m. land to three private companies and some individuals.

Noida Authority has already removed Nayab Tehsildar. Further, the authority has demanded the suspension of Noida’s additional district magistrate (land). Noida Authority is to file FIR against them. The investigation against them started soon after the BSP lost its reign. Real estate land scam took place in the year 2011.

Sources close to Noida Authority reveal that the scam involves three officials of higher grade. They are Harish Chandar, a PCS officer who was posted as secretary, Tahsildar Ajay Shrivastav and Nayab Tahsildar Manoj Kumar Singh. Continue reading

Noida Real Estate Relaxes As Farmers Call Off Strike

Noida real estate builders can now resume their halted work as farmers call off strike.

Farmers' Plea Authority Hears

Farmers’ Plea Authority Hears

Noida real estate builders had a deep breath as the Noida farmers have called off their strike. Earlier farmers had blocked the construction of many residential projects in Noida and Noida Extension. Continue reading

Supreme Court orders cooperative flat owners in Noida to register as per new circle rates.

NEW DELHI: Cooperative housing societies in Noida were dealt a major blow on Wednesday when Supreme Court ordered individual registration of their flats as per the prevailing circle rates. According to the Uttar Pradesh stamp department, the judgement would affect around 15,000 flat owners and leave the government richer by roughly INR 100 crore.

A special bench of justices Dalveer Bhandari and HS Bedi passed the direction while dismissing applications byArmy Welfare Housing Organisation and others challenging the Noida Authority’s decision to recover stamp duty on the basis of current rates. According to counsel Abha Sharma appearing for several flat owners, the decision would cause a liability ranging from Rs 2 lakh to Rs 3 lakh in stamp duty, which was the original cost of construction of houses in 1992. The high registration fees are a result of the real estate boom of the last decade. For instance, a three-bedroom flat in Noida that cost Rs 11 lakh just 10 years ago now costs at least Rs 60 lakh.

Shaken by the order, the affected societies on Wednesday said they would appeal to the court to review its decision.