SC clears way for developers in Noida Extension, Greater Noida

In a huge relief to thousands who have booked flats in Greater Noida West (also called Noida Extension) and adjoining Noida, the Supreme Court on May 14 dismissed petitions by farmers from 65 villages who had challenged the UP government's decision to acquire their land for construction of residential clusters.

People who had booked flats there were staring at uncertainty because of continuing litigation related to land acquisition. The Allahabad High Court's October 21, 2011 judgment on this issue was challenged in the apex court by farmers, and the administrative authorities of Greater Noida and Noida. 

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DDA to utilize prefab tech for quick finish

Having discovered the virtues of prefabricated homes, DDA has invested heavily not only in this year’s housing scheme, but also in future projects. More than 20,000 of the 25,000 houses being offered by DDA under its current scheme will be constructed using this technology.

About 30,000 more houses are expected to be built on the same lines. DDA officials claim this technology helps finish projects 20% faster.

DDA’s 2014 scheme was the first housing scheme to announce prefabrication as the predominant technology for building houses. As the scheme focuses on houses for the economically weaker section, all the prefabricated flats being built this time are for that category. However, the authority is looking to expand the scope of this technology to build around 25,000 low income group or one-bedroom flats in future.

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Lakhs of housing units to be constructed in Outer Delhi areas

Lieutenant governor Najeeb Jung, chairperson of DDA, on November 10 gave his approval to the land pooling policy. LG’s nod has brought land pooling — combining contiguous plots — and the huge potential of creating more housing in Delhi closer to reality. Senior DDA officials say that a few operational issues have to be ironed out and the area of land pooling notified, which will take a month’s time. The policy can come into effect after that.

The policy had been notified by the government of India in September last year and applies to areas in southwest and northwest Delhi. These include outer Delhi areas, including most of Kanjhawala, Narela and Najafgarh, and villages like Mehrauli, Bijwasan, Chhatarpur, Ghitorni, Bamnoli, Fatehpur and Khanpur.

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FDI in real estate may double after easing of rules: NAREDCO

Foreign direct investment (FDI) in the real estate sector could jump over two-fold in the next one year with easing of FDI rules in the construction sector, realtors’ body NAREDCO said today.

Real estate developers and consultants were of the view that this move would give fillip to cash-starved realty sector, which is reeling under a slowdown since last 2-3 years. It will help developers in raising funds to complete projects.

Yesterday, the Cabinet relaxed FDI rules in construction sector by reducing minimum built-up area as well as capital requirement and easing the exit norms.

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Real-estate firm asked to pay over Rs 11 lakhs for deficiency of service

The Delhi state consumer panel has asked real estate firm Omaxe Buildhome Pvt Ltd to pay over Rs 11 lakh to a retired Indian Airlines official after holding the realty firm of “deficiency of service” in the allotment of a flat at Greater Noida in Uttar Pradesh.

The Delhi State Consumer Disputes Redressal Commission (SCDRC), presided by judicial member S A Siddiqui, asked the firm to pay Rs 11.14 lakh to Secunderabad resident Pradeep Chaudhary.

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Ambience to invest Rs 1,950 cr on two new housing projects

NEW DELHI: Realty firm Ambience today said it will invest about Rs 1,950 crore over the next four years to develop two luxury housing projects in Gurgaon and Noida.

The Delhi-based company will develop over 1,030 apartments in these two projects launched today.

Ambience has presence in Delhi and Gurgaon property markets. It is developing a 150-acre project ‘Ambience Island’ in Gurgaon that comprises premium homes, ‘Leela Ambience’ hotel with over 400 keys and a huge shopping mall.

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After 13 years, property tax set to go up in Ghaziabad

Residents of Ghaziabad could soon be coughing up more as property tax, with the municipal corporation proposing a hike in rental values across the city. The proposal will be put up for approval in the board meeting of Ghaziabad Municipal Corporation scheduled to be held on Wednesday (November 12).

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LG allows DDA to buy private land directly

Delhi/NCR

In a major shift in policy for acquiring private land, which till now had to be done based on guidelines of the New Land Acquisition Act, Delhi LG approved DDA’s proposal to buy it directly. Officials say implications of this policy change will be quicker acquisition of land and, thus, quicker delivery of projects.

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Yamuna Expressway witnesses rapid development

With improved connectivity and fast pace of infrastructural development, the 165km-long Yamuna Expressway is being considered as one of the best locations for real estate development.

To boost the area’s profile further, Yamuna Expressway Industrial Development Authority (YEIDA) has allotted a number of plots to reputed builders and developers to develop integrated townships with affordable homes, group-housing societies, luxury villas, and independent floors.

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Noida Authority eyes abadi land, to change bylaws

The Noida Authority is working on revision of its building bylaws to bring abadi land in villages under its purview. While the Greater Noida Authority oversees all constructions carried out in villages, the jurisdiction of municipal authorities and the urban development department does not apply to abadi land.

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