BUSINESS
Eldeco Infrastructure and Properties secures Rs 350-crore funding from HDFC Capital
Eldeco and HDFC Capital joint platform’s cumulative revenue potential across 17 projects is estimated to be Rs 8,000 crore. Out of this, projects with estimated revenue of Rs 2,000 crore have already been launched in Panipat, Sonipat, Rishikesh and Kasauli.
BUSINESS
Haryana RERA imposes fine on builder in Gurugram for misleading advertisement
Haryana RERA fined Countrywide Promoters Rs 50 lakh for misleading advertisement. Countrywide Promoters Private Limited is developing an affordable plotted colony Green Oaks at Sector 70A in Gurugram, under Deen Dayal Jan Awas Yojna Affordable Plotted Housing Policy 2016.
BUSINESS
Yamuna Expressway Authority floats scheme for hotels near Noida airport: All you need to know
Under the scheme, three plots of 3,400 5,000 and 10,000 sq m Sector 28, abutting the Yamuna Expressway and in proximity to the upcoming Noida International Airport at Jewa rhave been put on sale
BUSINESS
Redevelopment, land monetization propel NBCC's business growth in FY24
At the World Trade Centre project in Delhi's Nauroji Nagar, NBCC has sold commercial real estate inventory valuing approximately Rs 6,500 crore during FY24.
BUSINESS
Noida Authority frees 18 acres of land worth Rs 308 crore from land mafias
The Noida Authority had identified multiple sectors, villages, and areas specially along the Noida Expressway, where land mafias had encroached upon the government land and were attempting to sell plots to the gullible public. The anti-encroachment drive was conducted in villages such as Sorkha Zahidabad, Salarpur, Asadullapur, Mohiyapur, Sadarpur, Mamura, Garhi Samastipur, Gulawali and Salarpur Khadar.
BUSINESS
Yamuna Expressway Authority brings back group housing scheme: All you need to know
The Yamuna Expressway Authority aims to make revenue of at least Rs 450 crore by the allotment of these group housing plots near Noida Airport. The last time YEIDA had allotted group housing plots was in 2014. The scheme closes on May 20, 2024 and the e-auction will be conducted on June 10, 2024.
BUSINESS
Vatika Limited fined over Rs 6 lakh by Gurugram RERA for violations
Vatika Limited has been found guilty of violating advance payment as well as buyer-builder agreement norms
BUSINESS
No registry, no vote: Homebuyers in Noida and Greater Noida threaten to boycott Lok Sabha polls over pending registries
Lok Sabha elections in Noida, Greater Noida and Yamuna Expressway regions that fall under the Gautam Budh Nagar district will take place on April 26, 2024.
BUSINESS
Noida Authority asks developers to execute registries of flats, pay dues
According to official estimates, real estate developers collectively owe around Rs 44,700 crore to the development authorities in Gautam Budh Nagar. They owe almost Rs 26,000 crore to the Noida Authority.
BUSINESS
DDA invites bids to select contractor for demolition of Signature View Apartment in North Delhi
The contractor will have to complete the demolition process of Signature View Apartment in 120 days after award of the contract. The apartment complex is yet to be fully vacated.
BUSINESS
Gurugram RERA rejects Godrej’s project extension application, freezes project's account for non-compliance
The Authority in an order said that despite many reminders, the promoter of Godrej Air phase 4 project failed to rectify the deficiencies in the application, including the renewal of the licence and details related to bank balance provided in quarterly progress report (QPR) and CA certificate had a mismatch.
BUSINESS
UP Govt likely to lay foundation stone of film city project soon after Lok Sabha elections
The approval for the film city project was given by the UP Cabinet in March 2024 and later that month the award letter of the project was also issued for the concessionaire. A consortium led by Bollywood filmmaker Boney Kapoor’s firm Baywatch Projects LLP in association with Noida based developer Bhutani Infra will develop the Film City project near Noida International Airport along the Yamuna Expressway.
BUSINESS
Yamuna Expressway Authority releases fund for land acquisition near Noida Airport
The Authority has to acquire around 244 hectares of land for the development of a dedicated industrial sector named as Sector 10 near Jewar Airport, and has released over Rs 650 crore to the Gautam Budh Nagar district administration for the purpose
BUSINESS
RBI’s decision to hold repo rates will keep housing boom on course, say real estate experts
As per ANAROCK Research, the top seven cities witnessed total housing sales of over 1.30 lakh units in Q1 2024, which is the highest quarterly sales in the last decade.
BUSINESS
Online gaming firm Gameskraft buys 8.61-acre land in Gurugram for Rs 90 crore
The documents showed that the sale deed was executed on March 11, 2024. Gameskraft Technologies Private Limited paid a stamp duty of Rs 6.3 crore for the transaction along with a registration fees of Rs 50,000.
BUSINESS
Gautam Budh Nagar stamp department’s revenue collection jumps 18 percent in FY24
Officials said the department posted a revenue of Rs 3,585 crore in 2023-24. It stood at Rs 3,018 crore in FY23.
BUSINESS
Greater Noida Authority implements Amitabh Kant panel recommendations, registers 1,366 flats in 1 month
It has also written to promoters of 28 more projects to deposit the 25 percent amount of their total dues so that ownership rights to around 4500 homebuyers in these projects can be given.
BUSINESS
UP real estate regulator's conciliation forum frees up Rs 570 crore of properties from disputes
Officials said the authority has through mediation solved over 73 percent of the 1,930 complaints received between February 2019 and December 2023
BUSINESS
Unsold housing stock down 16% YoY in Q1CY24 in Tier-1 cities, sales up 8%: PropEquity
Maximum fall in the unsold stock is observed in Delhi-NCR with 37 percent decrease on YoY basis with currently 27,959 units, which was 44,680 units in Q1 2023
BUSINESS
India’s data centre capacity to double in three years: CareEdge Ratings
CareEdge Ratings in its report highlighted that the absorption levels have gone up from 82% in 2019 to 93% in 2023. As capacity was added, industry players' revenue increased by nearly 25% CAGR from FY17 to FY23
BUSINESS
Yamuna Expressway Authority to develop five industrial parks near Noida International Airport
The five industrial parks that are to come up near Noida International Airport include an electric vehicle park, plastic processing park, footwear park, handicrafts park and a transport hub.
BUSINESS
UPRERA makes it mandatory for developers to prove ownership of project land
The Authority noted that if someone other than the promoter has title over the land where a project is proposed then the promoter must have written consent of such person for the development of the project and register a joint development agreement with the land owner to this effect
BUSINESS
UP: Construction of film city along Yamuna Expressway to start soon as Boney Kapoor's firm gets 'letter of award'
The film city will be developed in Sector 21 along the Yamuna Expressway near Noida International Airport in Jewar. Out of 230 acres of land, 155 acres will be dedicated for industrial use and the remaining 75 for commercial use.
BUSINESS
Demolition of 5 towers at Gurugram's Chintels Paradiso housing complex starts, residents demand rent
After a number of visits by demolition consultants at the site, Edifice Engineering had suggested the mechanical and manual demolition technique, involving machines, at Chintels Paradiso instead of a controlled implosion method, which was used in the demolition of Noida’s Supertech twin towers.
