Property sales in Noida this Diwali restricted to ready-to-move segment
October 20, 2017

Festive offers this Diwali and waivers on Goods and Services Tax (GST) did little to uplift property sales in Noida. The meagre sales in the season were restricted to the ready-to-move category. Real estate body, CREDAI highlighted that the sales numbers have been under pressure and despite Diwali, the transactions were limited. Pankaj Bajaj, President, Confederation of Real Estate Developers' Associations of India (CREDAI) (NCR), has stated that homebuyers, who have considered buying real estate this season, have held back for the next GST Council meeting where a proposal of reduction of GST on under construction properties is expected. At…

Over 72,000 affordable houses to be constructed in Gurgaon
October 20, 2017

More than 72,500 new units could be added to the affordable housing category soon with the addition of 500 acres of land as compared to 300 acres in the past allocated for the segment in Gurgaon. Officials have informed that there are around 57 new sectors, of which around 54 are residential. With 15 acres in 54 new residential sectors, the total area under affordable housing will rise to around 810 acres. The 500 acre difference has happened after the amendment made by the Haryana government to remove the cap on land for affordable housing. Under the amended Affordable Housing…

Homebuyers can register property online in Noida and Gr Noida by Oct-end
October 19, 2017

Online registration of properties is set to be introduced in Noida and Greater Noida by October-end this year. The decision was made to infuse transparency and reduce the footfall at the registry office. SK Singh, Assistant Commissioner (Stamp), Gautam Budh Nagar, has stated that the Uttar Pradesh government has made all necessary steps to introduce the online registration scheme in Noida. Homebuyers can log in to the website, to apply for registry of their properties. The website will have all guidelines for filling the forms in a user-friendly manner. Once the application for registration is submitted online, the sub-registrar…

Ghaziabad authority to use GIS to curb illegal constructions
October 19, 2017

To keep an eye on several illegal constructions emerging across the city, the Ghaziabad Development Authority (GDA) will soon implement geographical information system (GIS) to access real-time data of any location with encroachments through satellite imagery. The Authority is in talks with private companies involved in GIS surveying. Ravinder Godbole, Secretary, GDA, has stated that there are around 250 illegal colonies in Ghaziabad. It is difficult to physically track all locations coupled with illegal constructions. The GIS will help us track all such encroachments without much delay. The satellite imagery system will enable the Authority to access the physical attributes…

Noida-Gr Noida Metro corridor to commence in April 2018
October 16, 2017

The Noida-Greater Noida Metro corridor, also known as Aqua Line, is set to become operational from April 2018. The Noida Metro Rail Corporation (NMRC) has stated that a total of 19 trains will operate between Noida and Greater Noida at a speed of 35 km/hour, and at an initial frequency of every five minutes in peak hours and ten minutes at non-peak hours. Officials have informed that the frequency would be changed as per commuters' traffic. For the Aqua Metro corridor, the first trial train, with four coaches, will arrive in December 2017. The trial train will be imported from…

Noida, Gr Noida and Yamuna Expressway authorities start land audit
October 14, 2017

Gautam Budh Nagar—Noida, Greater Noida and Yamuna Expressway Development Authorities have initiated a land audit in their respective jurisdiction. The audit is expected to be over by December-end 2017. The decision was made after a directive issued by Uttar Pradesh Principal Secretary Industries, Alok Sinha to conduct a land audit in August earlier this year. The audit has been initiated with an aim to create an inventory of the vacant land bank under these authorities for future planning along with optimum utilisation of land. Officials have stated that an officer has been appointed by each of the authorities for the…

DDA simplifies land pooling policy to boost affordable housing
October 13, 2017

The Delhi Development Authority (DDA) has simplified the land pooling process for building homes for Economically Weaker Section (EWS) to promote construction of affordable housing. The decision was taken by Union Minister of Housing and Urban Affairs, Hardeep Singh Puri and Delhi Lieutenant Governor, Anil Baijal, who is also the Chairman of DDA. Officials have been asked to formulate necessary regulations within a month's time. About 22,000 hectares of land is expected to be clubbed to develop housing for about 95 lakh beneficiaries. According to the new policy, the pooled land will remain in the owner’s name throughout the process.…

Press Release

Office space leasing continues to surge in Q3 2017: Report
October 9, 2017

Office space leasing continues to surge in Q3 2017: ReportOctober 9, 2017 Prime office space across the top cities of India witnessed robust activity in Jul-Sep 2017, stated a CBRE report. According to the findings of India Office MarketView Report – Q3, 2017, leasing activity crossed 10 million sq ft in the quarter. Corporate houses from EMEA exhibited an increased interest in the country’s office segment, with the share of leasing surging from nine percent in Apr-Jun 2017 to 14 percent in Jul-Sep 2017. 

Panel asks Gr Noida, Noida builders to deliver 50,000 flats by Dec 12
October 6, 2017

A three-member cabinet committee of ministers formed recently to expedite the delivery of stalled residential units in the Greater Noida and Noida has asked developers of 17 projects to ensure delivery of 50,000 flats to homebuyers by December 12, 2017. Suresh Khanna, Committee Member and UP Urban Housing and Development Minister, has stated that the developers have identified about 20,000 flats in the region and they will be handed over to buyers within a month and a half. Officials have informed that over 3,700 flats have already been delivered to the homebuyers since the directive issued by the Uttar Pradesh…

UP housing board sanctions Rs 31 crore for Ghaziabad Metro project
October 5, 2017

The Uttar Pradesh (UP) Housing and Development Board has sanctioned Rs 30.90 crore for the under-construction Metro corridor in Ghaziabad. The sanctioned amount will be used for the Dilshad Garden-New Bus Stand Metro project by Delhi Metro Rail Corporation (DMRC). The move was made after a directive by the State government to the State housing board and UP State Industrial Development Corporation (UPSIDC) to release their share of funds to the Ghaziabad Metro project within 10 days. The Ghaziabad Development Authority (GDA) has already released Rs 695.80 crore for the project. The UPSIDC has released Rs 3.3 crore till now.…

Noida authority reopens reschedulement policy till November 2017
October 4, 2017

To meet the target to deliver around 16,000 flats to homebuyers in the coming three months, the Noida Authority has re-introduced its reschedulement policy till November 2017. The move will enable builders of group housing projects to pay their outstanding dues of around Rs 11,000 crores to the Authority. Officials have shared that all flats are almost ready, but have not received the completion certificate (CC) from the concerned authority on grounds of pending dues. To ensure early possession, the Authority has asked the builders to pay their outstanding amount and get the no dues certificate (NDC). Santosh Kumar, officer-on-special-duty,…

Centre urges RWAs in Delhi to ensure better waste management
October 2, 2017

The central government is going to visit 10,000 residents welfare associations (RWAs) in Delhi in the coming months and ask them to ensure proper segregation of municipal waste. Hardeep Singh Puri, Housing and Urban Affairs Minister, has stated that the government will reach out to all RWAs in the 11 districts of the national capital to ensure segregation. Currently, only half of the waste generated in Delhi is segregated properly. There are numerous colonies in the city, including Sarojini Nagar market that require immediate refurbishing for better access, presentation and services to compliment the needs of the ongoing redevelopment drive…

Gr Noida authority to establish a recovery cell to collect dues
September 28, 2017

The Greater Noida Industrial Development Authority (GNIDA) is planning to establish a recovery cell to collect its outstanding dues, amounting Rs 6800 crore from defaulting allottees in the region. The Authority has to collect dues from more than 10,000 defaulting allottees across the region. A proposal for setting up the same will be shared with the Uttar Pradesh government. Meanwhile, the Greater Noida authority has already started issuing notices to all defaulting allottees warning them to cancel their allotment if they do not clear all their dues. Officials have informed that individual notices have been issued to defaulters, while a…

Greater Noida Authority assures delivery of 17,000 flats by March 2018
September 27, 2017

The Greater Noida Industrial Development Authority (GNIDA) has assured delivery of 17,460 housing units across 28 group housing projects by March 2018. The announcement was made after a directive was issued by the Uttar Pradesh government to deliver 50,000 residential units to homebuyers in Greater Noida in the next three months. Officials have informed that the Authority conducted several meetings with builders and developers to gauge the progress of projects and set their completion dates accordingly. Moreover, 313 flats by Trident Infra Homes, Jyotirmay Infracon, Earthcon constructions, Ajnara Realtech, Nirala Housing and Habitech Infrastructure is slated to be completed by…

Press Release

NAREDCO elects new Officer Bearers in 109th Governing Council Meeting
September 26, 2017

NAREDCO elects new Officer Bearers in 109th Governing Council Meeting26th Sep 2017 NAREDCO has formed a new committee in the 109th Governing Council Meeting, with Dr. Niranjan Hiranandani, Founder-Chairman of Hiranandani Group and CMD, designated as National President. Mr. Rajeev Talwar, CEO, DLF Limited, continues to hold the position of the Chairman and Mr. Parveen Jain, CMD, Tulip Infratech, assumed the responsibilities of the Vice Chairman.

Over 10,700 flats in Noida to be completed by December 2017
September 25, 2017

After a strict directive issued by the Uttar Pradesh government to deliver around 50,000 homes to buyers in Noida and Greater Noida, the Noida Authority has promised to ensure the completion of 10,756 flats in the region. These will be handed over to the buyers by December 2017. This announcement followed the Greater Noida Industrial Development Authority (GNIDA) ensuring people to hand over more than 17,000 residential properties by March 2018. Officials have stated that the Noida Authority has promised to deliver these units after discussing the same with the builders of 32 projects in the region, asking them to…

Over 3,000 homes in Noida to be completed within a week
September 18, 2017

The strict directive issued by the Uttar Pradesh government to builders for handing over possession of 70 pending projects, including 50,000 flats in the Noida and Greater Noida region, to homebuyers in the next three months appears to have worked. Five builders have decided to complete their ongoing projects in the region and apply for completion certificates within a week, making it possible for 2,500 buyers to get possession of their homes soon. Officials from the Greater Noida Industrial Development Authority (GNIDA) met with several builders of 31 ongoing group housing projects in the city to expedite the completion process…

CREDAI starts consumer redressal forum to solve buyers’ complaints in Noida
September 16, 2017

Considering the rising issues between buyers and builders in National Capital Region (NCR) over delayed possession, the Confederation of Real Estate Developers' Associations of India (CREDAI) - NCR has started a consumer redressal platform to answer grievances of homebuyers. Officials have informed that homebuyers can directly file a complaint on the CREDAI website for smaller issues and the same will be handled quickly. The complaints will be processed through internal meetings and discussions among members. CREDAI NCR had organised its 48th consumer grievance forum recently, where 105 complaints from buyers of various projects were resolved. Till date, the association has…

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