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- 7,000 buyers can now take possession of Noida flats
NOIDA: Ten housing projects caught in the legal wrangle of demarcating an eco-sensitive zone around the Okhla Bird Sanctuary have received completion certificates from the Noida Authority, paving the way for 7,000 buyers to take possession of their homes.
This is the major first set of completion certificates issued since the eco-sensitive zone around the park was notified by the Union environment ministry on August 19.
Nearly 53 projects coming up in sectors near the peripheries of the park are in various stages of development. Completion certificates for the remaining projects are also being processed.
Among housing projects where possession can now be given are ATS, Prateek, R G Residency and Eldeco. World Trade Tower, Garden Galleria and the DLF mall have also been granted certificates.
These projects were affected after the National Green Tribunal restrained the authorities from issuing completion certificates to projects located within a 10km radius of the Okhla Bird Sanctuary because the government had not notified an eco-sensitive area around the park.
"We are doing our best to expedite the procedure," Manoj Rai, officer on special duty at the Noida Authority, told TOI. "There is a standard procedure to give clearance to a project. Before giving the certificate, the Authority will have to address the objections filed by home buyers and other people, if any. It's a slow process as we have to conduct site inspections, compounding, if any and look into several other details both minor and major," he said.
Rai added, "Now that the completion certificates are being handed over to developers or builders, they will in turn be able to hand over possession of the residential units to homebuyers."
An officer said the delay in issuing completion certificates could be attributed to developers' inability to clear their dues to the Noida Authority. "Without a 'no dues certificate', completion certificates will not be given for any project. This has already been notified to the builders and developers," Rai, who heads the Authority's planning department, said.
The Authority, officers said, was prepared to accommodate the additional population that is expected to move into Noida as completion certificates for more projects come through. Around 35,000 flats can be delivered to buyers once the certificates arrive.
The eco-sensitive zone around the Okhla Bird Sanctuary has been marked at 100 metres to the east, west and south of the park and 1.27km to the north, up to the DND Flyway across the Yamuna riverbed. It doesn't affect any real estate project in Noida.
7,000 buyers can now take possession of Noida flats - The Times of IndiaCommentQuote0Flag
- I heard thru the grapevine that some property portals are shortly launching 24x7 property only TV channels
I dont have a source - but for die hard property lovers - it will be another source of keep yourself updated / informed / entertained (depending on ur outlook)CommentQuote1Flag
- Originally Posted by dineshsaysI heard thru the grapevine that some property portals are shortly launching 24x7 property only TV channels
I dont have a source - but for die hard property lovers - it will be another source of keep yourself updated / informed / entertained (depending on ur outlook)
Must be backed by Noida Builders :DCommentQuote0Flag
- Originally Posted by CookieMust be backed by Noida Builders :D
Absolutely Cookie sir.
After all, with so much inventory and so few buyers, they are the biggest "velas"
And why spend money on advertising on other channels and print media?
Apne channel mein apne project ke gun gayenge aur discount schemes dikhayenge!!!CommentQuote3Flag
- Can anyone confirm if 3C applied for OC for their Lotus Boulevard project. Is there any website to check if they have applied or not. ThanksCommentQuote0Flag
- They had applied long long ago. I remotely remember there is an expiry time and one shall have to apply again.
Anyways, lots of objections were raised by Noida. For Panache, copy is attached in link here Letter of Fitout - a disaster waiting to happen | The Logical Buyer
, same was for LB too.
No online link but RTI can help.
File RTI with NOIDA Authority - The Logical Buyer
btw you are asking in wrong thread.Originally Posted by jollygoodCan anyone confirm if 3C applied for OC for their Lotus Boulevard project. Is there any website to check if they have applied or not. ThanksCommentQuote0Flag
- Sectors 2 and 15,12 & 22: Noida must have been designed by a Sudoku player!
Comedian Abish Mathew had some quirky theories to share about NCR, especially his hometown Noida, on his recent trip to the capital
Stand-up comic Abish Mathew, popular for his AIB videos on Youtube, was recently in Delhi for a performance. While he explored topics ranging from drug abuse to slow motion in cricket, the artiste also ended up cracking some jokes about the his hometown Noida.
He said, "So, I live in Noida. And if you've ever been to Noida, you'd know that the sectors are like, 'Sector 2, Sector 15, Sector 12, Sector 22.' I mean, the person who designed Noida must have been a big fan of Sudoku!'
He added, "If Delhi was a person, it would be a short Punjabi guy. The radius of his waist would keep expanding, much like Delhi's boundaries. Mumbai would tell Delhi, 'What is with you Delhi? You are so classist - Noida, Greater Noida; Kailash, Greater Kailash.' And Delhi would be like, 'I am classist? You are racist, Bombay! What's Gore-gaon?'"
Offering the audiences his theory about how NCR came into being, he said, "Noida went to Delhi and was like, 'Brother, half your people live on me, you know. You've got to let me in.' So Delhi was like, 'Ok, Noida' Then Gurgaon was like, 'Offices, dude. They all come across the border because I have all the offices.' So, Delhi said, 'Ok, Gurgaon'. When Faridabad opened its mouth, Delhi said, 'F*** you, Faridabad. Chup ho ja. You are Haryana, okay?"
Sectors 2 and 15,12 & 22: Noida must have been designed by a Sudoku player! - The Times of IndiaCommentQuote1Flag
- Noida realtor Supertech raises Rs 100 crore
NEW DELHI: Noida-based builder Supertech has raised Rs 100 crore from Indiabulls Real Estate Fund to quicken the pace of construction of its housing projects.
The real estate company claims it will deliver 16,000 apartments in its projects in Noida, Greater Noida, Gurgaon, Yamuna Expressway, Meerut and Rudrapur by the end of this financial year.
RK Arora, managing director of Supertech, confirmed that the company has issued non-convertible debentures worth Rs 100 crore to Indiabul ..
Read more at:
Noida realtor Supertech raises Rs 100 crore - The Economic TimesCommentQuote1Flag
- New Metro Line on Noida Expressway
Noida Authority approved DPR for new Metro Line between Okhla Bird Sanctuary - Sector 142 Noida Expressway.CommentQuote1Flag
- Multi-level car park under HC lens
NOIDA: A public interest litigation filed in the Allahabad high court regarding the under construction multi-level car park in Noida Sector 18 has put the project under the scanner. The high court on Monday asked the Authority to desist from using the part-open facility with immediate effect.
This comes less than two weeks after activist Nutan Thakur demanded a probe into alleged improprieties in the tender process for the proposed Rs 750 crore, 23-storey car park project at Botanical Garden Metro station.
The PIL filed by K R Chitra about the Sector 18 car park has raised questions about the way parking spaces are being allotted by the Noida Authority. It follows the July 21 RTI application, in which the Noida project engineer's office revealed that three floors of the parking facility are already being utilized to allot parking spaces, even though the structure is incomplete.
The PIL, being heard by Allahabad high court Chief Justice D Y Chandrachud and Justice Yashwant Varma, has two main complaints. Firstly, the "multi-level parking facility is being utilized by the development authority without an occupation certificate". Secondly, the "manner in which parking contracts are being awarded in respect of places which are earmarked in the master plan for other purposes, including as green area and without a fair and transparent bidding process".
While directing the Authority to discontinue use of the facility because of the first complaint, the Court has asked the Authority to file replies within three weeks regarding the second complaint. October 13 has been fixed as the next date of hearing. Part of the package of projects UP CM Akhilesh Yadav announced in April 2013 for Noida, the multi-level car park is proposed to have six floors, including two basements. To date, about 52% of the work has been completed. Once complete, which is likely to happen by March 2016, it is expected to have space for 3,085 vehicles.
Earlier, on February 21, the Authority had decided to throw open two basements of the partly-constructed Rs 168 crore-facility to the public, in an attempt to decongest the crowded Sector 18 market. The ground floor was subsequently opened in June, with the facility currently offering parking space for about 1,000 vehicles.
Coming up opposite Hotel Radisson, the facility, designed by School of Design and Architecture, Delhi, and modelled on the IGI T3 car park, will have ramps connecting manual parking floors covered by CCTV surveillance when completed. There will be four gates on the ground floor, with two each in the underground and upper floors. As of now, the facility is charging a Rs 20 parking fee for the first four hours for four-wheelers, and Rs 10 for two-wheelers, with Rs 5 added for every additional hour that a vehicle is parked.
Multi-level car park under HC lens - The Times of IndiaCommentQuote0Flag
- Now, building bylaws to govern abadi land too
NOIDA: The Noida Authority board has approved a decision to bring abadi land in villages under the purview of its building bylaws. The authority had decided to do so in the wake of the Nepal earthquake and subsequent devastation.
The Greater Noida Authority already governs all construction being carried out in village abadi area since 2011.
However, hundreds of villagers are opposed to the move. On Thursday residents from nearly 81 villages gathered to lodge their protest against the decision. Accusing the Noida Authority of adopting arm-twisting methods, nearly 600 villagers threatened to intensify their stir against the building regulation norms.
Talking to TOI, farmer leader Joginder Awana said they have been living in Noida for several decades and the Noida Authority could not suddenly implement building regulations. "It is unconstitutional and without our consent," Awana said. "Instead of developing the rural areas of Noida, the Authority is trying to browbeat us," he said.
"We will not follow the norms," he added.
The residents further said they would take to the streets but would not agree to the regulations. "In the next two months we will hold meetings in different villages and will hold a maha-panchayat eventually to chart our next course of action," a villager said.
Meanwhile, Noida Authority officials said they would hold a meeting of village heads to educate them on the necessity of governing building activities for the sake of safety and security of the rural population. The Authority had in October last year drawn up a draft of revised bylaws to include village areas.
The move had come following reports of large-scale illegal occupation on such land besides a government order from the Uttar Pradesh chief secretary received on October 20, 2014, restricting all district panchayats from clearing any building layout plans.
According to officials, the bylaws - when implemented - will define permissible ground coverage, percentage of commercial activity, parking spaces, height of boundary wall, fire safety norms in keeping with the National Building Code and number of floors.
These will be according to the plot size and in tune with Noida's prevailing norms, officials said.
The district panchayats have been allowing construction in the abadi areas, when they never had the right to pass layout plans, officials said. Therefore, all such construction is illegal, they added.
Now, building bylaws to govern abadi land too - The Times of IndiaCommentQuote0Flag
- Jaypee Infratech defaults in loan repayment, downgraded to default category by Care - http://www.ecoti.ms/wtNd1Z
MUMBAI: Jaypee Infratech, the developer and operator of the Yamuna Expressway, has defaulted on its payment to lenders.
Following the delay in payment, ratings firm Care has downgraded the rating on the company's Rs 1,300 crore bonds and a term loan of Rs 6,550 crore to Care D, or default category. Prior to this, the special purpose vehicle promoted by Jaiprakash Associates was rated Care BB. The ratings company said the downgrade by two notches "takes into account a delay in servicing of debt obligations by the company due to its weak liquidity position."
Jaypee Infratech began collecting toll from users of the 165-km six-lane expressway between Noida and Agra in August 2012. It had been granted rights by the Yamuna Expressway Development Authority, a Uttar Pradesh government undertaking, for the development of about 6,175 acres of land along the expressway in five different parcels for residential, commercial, amusement, industrial and institutional development. The land for real estate development was given on a 90-year lease.
"On account slowdown in real estate sales and high debt levels, the company's financial performance in fiscal year 2015 and quarter ending June 2015 was lower than envisaged, resulting in weak liquidity and ongoing delays in debt servicing," said the ratings firm. The company is in talks with lenders to refinance its existing debt and take additional debt to pay creditors and for working capital requirements. It posted a net profit of Rs 355 crore on total operating income of Rs 3,251.83 crore in fiscal year 2014-15.CommentQuote0Flag
- TOI 28th September. ...CommentQuote1Flag
- I posted this "post" as a new thread but has been put by the group moderator under probably a better matched thread "Illegal Practices by Noida Builders...".
Because this post is more inclined towards Noida Authority & less towards builders, i thought to re-post it under this thread to get some more attention & comments.
Noida RE is now synonym to all the possible malpractices in real-estate industry.
1. Construction on land which is under litigation; still collecting money from buyers
2. Huge delays... in many cases upto 6 to 7 years or more...
3. Super area increase
4. Flouting the norms
5. Multiple booking of same units
6. Construction without approvals
7. Layout changes
8. Offering possession for incomplete flats / projects etc
You name any possible fraud in RE & its there in Noida for sure.
Is this huge mess possible without the Noida Authority officials knowing it?
What is the responsibility of Noida authority ? Are there any clauses in the agreement between Noida Authority & the builders using which the Noida Authority can take strict actions against the builders ; but it is ignoring deliberately? OR is it that the builders are taking advantages of some loop-holes in the agreements?
I request the experts to comment so that a group of buyers planning to sue Noida Authority; will get some inputs to strengthen the case. Thanks.CommentQuote1Flag