DDA to charge hefty penalty for returning DDA flats
May 23, 2017

In an attempt to attract serious buyers, Delhi Development Authority (DDA) is all set to impose 25 to 100 percent of the earnest money as the penalty for its upcoming housing scheme. As confirmed by DDA officials, the decision was taken to avoid a repeat of 2014’s incident when 50 percent of the DDA flats were returned by allottees citing reasons like small bedrooms sizes and lack of infrastructure at the location. DDA will announce… Read More

Noida Authority carries out anti-encroachment drive in Sector 150
May 21, 2017

Noida Authority recently carried out an anti-encroachment drive demolishing illegal structures in Sector 150. The demolition drive was undertaken in the area near Momnathal and Tilwada villages along Noida-Greater Noida Expressway. The civic body has managed to clear encroachments from 34,000 sq m of commercial land in the prime locality. Worth about Rs 700 crore, the land had been illegally occupied by land mafia. Officials shared that the land parcel located in Khasra number 1… Read More

Delhi land pooling: 95 villages to be declared as development areas
May 19, 2017

Delhi government has announced that 95 villages in its jurisdiction will soon be declared as development areas. This announcement comes on the heels of the lieutenant governor declaring 89 Delhi villages as urban areas. This decision is aimed at freeing up land for implementing land pooling policy in the nation’s capital. Delhi’s land pooling policy was notified in September 2013, with the regulations being notified only in May 2015. The policy states that those contributing 2-20 hectares… Read More

Gurgaon builders who refuse to complete infra work could lose licences
May 18, 2017

Developers of private colonies in Gurgaon might lose their licence if they do not complete the pending infrastructure work in their projects. This warning has come from the Municipal Corporation of Gurgaon (MCG) who has been asked to take over colonies developed by Ansal, DLF, Unitech, Suncity, and other developers. V Umashankar, Municipal commissioner, MCG, commented the transfer of responsibilities would be subject to the conditions that the developer completes all pending infrastructure work or… Read More

Noida Extension residents object to shelving of metro project
May 17, 2017

The recent decision of the Noida Authority to put the proposed metro extension plan in the region on hold has come as a shock to residents of Noida Extension. Homebuyers who had invested in the region due to the upcoming metro projects feel cheated and demand that the metro projects be resumed. Last week, the Authority has announced that the metro links connecting Noida Sector 71 with Greater Noida’s Knowledge Park V and Botanical Garden… Read More

ITPO to auction 3.7 acres of land in Pragati Maidan
May 17, 2017

About 3.7 acres of prime land in Delhi’s Pragati Maidan will be put up for auction in order to fund India Trade Promotion Organisation’s (ITPO) upgradation project. The amount raised will be used to realise ITPO’s dream of India’s biggest exhibition-cum-convention centre, including a 500 room hotel. LC Goyal, ITPO chief, commented that the upgradation project for Pragati Maidan would involve Rs 2,250 crore. While ITPO will provide about Rs 1,200 crore, the balance could… Read More

Yamuna Expressway authority slashes interest rates on land allotment
May 15, 2017

The Yamuna Expressway Industrial Development Authority (YEIDA) has cut down the interest rates applicable on land allotment by 1.35 percent. With this, the interest rate has fallen from 12 percent to 10.65 percent. The rate cut is expected to come into effect in June 2017. YEIDA has also announced that the rates will be further reduced which has greatly pleased allottees in the region. This decision has been prompted by the reduction in interest rates of… Read More

Infra projects in Noida, Greater Noida put on hold due to fund shortage
May 14, 2017

The Noida and Greater Noida authorities have announced that fund shortage has forced them to put new infrastructure projects on hold. The affected projects include a proposed heliport, convention centre, and metro links connecting Noida Sector 71 with Greater Noida’s Knowledge Park V and Botanical Garden with Sector 142. Conceptualised in May 2013, the heliport project was proposed to be constructed on a 22 acre area in Safipur village, located along the Noida-Greater Noida expressway. The proposed… Read More

Noida Authority to take action against builders failing to submit tower-wise completion schedule
May 13, 2017

The Noida Authority recently warned builders that it would take strict action against them if they do not submit the tower-wise completion schedule of their projects as ordered earlier. Since April 10, 2017, the Authority has been conducting meetings with homebuyers and builders to address the former’ issues and has directed builders to submit a schedule for delivering flats. So far, the authority has held such meetings for 16 realty projects. As many builders are… Read More

YEIDA becomes India’s largest industrial township
May 11, 2017

The Uttar Pradesh government approved the second phase of the Master Plan 2031 of the Yamuna Expressway Industrial Development Authority (YEIDA) recently. With the state’s nod to the plan, YEIDA, with a 2,687 sq km area, has become the largest industrial township in the country. As per the approved plan, the Authority will have two new urban nodes in its area, which will include a dedicated industrial area and a heritage city to promote tourism… Read More

HUDA proposes penalty for plot owners who do not complete 50% construction in 2 years
May 10, 2017

A recent notice by the Haryana Urban Development Authority (HUDA) might spell trouble for over 1,000 plot owners in HUDA sectors. According to the recent notice, those allotted plots in HUDA sectors must complete half of the construction within the next two years or face hefty fines. On payment of the requisite fine, the plot owners will get an extension of another year to meet the construction requirement. The notice will impact plot holders in… Read More

Yamuna Expressway Authority to develop informal facilities to promote residential growth
May 10, 2017

Learning from the mistakes of Noida and Greater Noida authorities, the Yamuna Expressway Industrial Development Authority (YEIDA) is planning to improve the facilities available to residents of the region. YEIDA officials have announced that the authority will be setting up informal service facilities to support residential real estate along the Yamuna Expressway. Sectors 18 and 20 of Yamuna Expressway corridor have been selected for the first phase of the proposed projects that will include setting… Read More

Gurgaon homebuyers complain about the dilution of RERA
May 9, 2017

The present draft of Haryana’s Real Estate Regulatory Authority (RERA) provisions has received several objections from homebuyers and real estate investors in the city. Since the draft of state RERA does not cover private licensed colonies set up in the 1980s, the buyers in the millennium city want the state government to keep the provisions of the Centre’s RERA. Adopting the central regulations will ensure that private licensed colonies fall under its purview and will… Read More

Press Release

Signature Group enters into partnership with KKR
May 9, 2017

Signature Group enters into partnership with KKR9th May 2017 Gurgaon-based developer Signature Global India Private Limited has entered into a joint partnership with financial investment firm KKR who has committed to invest Rs 200 crore in NCR. Alongside, the company has launched two affordable housing projects named ‘The Millenia’ and ‘Solera 2’ in Gurgaon Sector-37D and 107, respectively. The builder plans to handover possession for phase 1 of Solera 2 project by early-2018. Read More

Press Release

Appu Ghar in Gurgaon to host a retail complex
May 8, 2017

Appu Ghar in Sector 29 Gurgaon to introduce a retail complex8th May, 2017 A themed retail complex is planned to be developed on 2.5 acres area with a total built-up area of 3.26 lakh sq ft in Appu Ghar in Sector 29, Gurgaon. The complex will offer shopping, dining and entertainment options in the form of clubs, pubs, health clubs among others. Apart from housing a 15 screen multiplex by Cinepolis, the complex will have… Read More

Gurgaon realtors seek online registration system for RERA compliance
May 5, 2017

Real estate developers of Gurgaon have requested the state government to develop an advanced online registration system for realty projects under the Real Estate (Regulation and Development) Act (RERA). Praveen Jain, National President, National Real Estate Development Council (NAREDCO), cited the example of the e-registration regime adopted by Maharashtra and requested a similar system for Haryana. It should be noted that Haryana’s regulatory authority is yet to be formed since the draft rules for Haryana… Read More

Press Release

Schneider Electric to develop greenfield integrated smart city
May 3, 2017

Schneider Electric to develop greenfield integrated smart city24th April 2017 Global automation solutions and energy management specialist Schneider Electric India has signed an agreement with IL&FS Technologies Limited and Naya Raipur Development Authority (NRDA) to develop the first greenfield integrated smart city of Naya Raipur. The company will oversee the entire operations of integrated Command & Control Center including surveillance, citizen applications, transportation, end-to-end Smart Grid solutions, Water Management system and integrated Building Management System. Read More

Noida, Greater Noida & Yamuna Expressway authorities to address homebuyers’ issues
May 2, 2017

In order to offer relief to homebuyers from Noida who have been facing project delivery delays, Amit Mohan Prasad, Chief Executive Officer (CEO), Noida Authority has called for a meeting with Confederation of Real Estate Developers Association of India (CREDAI) representatives and other big-ticket builders in Noida. The meeting, which will address project delivery related issues of home buyers, is scheduled for May 5, 2017. As confirmed by to the Authority officials, Prasad will urge… Read More

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