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Altico Capital puts Rs 130 crore in two private activities

Mumbai-headquartered Non-saving money fund organization, Altico Capital has put Rs 130 crore in two private ventures in Mumbai and National capital district.


Altico Capital has shut a Rs 50 Cr exchange with Noida based Lotus Greens bunch for a private task named ‘Coliseum I’, which is a piece of a bigger Sports City advancement at Sector-79, Noida. The financing continues will be used for development of the undertaking. The asset has prior contributed Rs 450 cr, with the developer.

Sanjay Grewal, CEO for Altico Capital, “This is first interest in the NCR locale following 15 months. We trust that it will require some investment for deals to get in NCR and consequently will be exceptionally ponder in giving capital something to do in this business sector.

Coliseum I is a mid-portion venture, with offerings of 3BHK and 4 BHK condo and aggregate saleable region of 1.9 mm sqft. It is situated in an up and coming private zone, with tasks from different presumed designers in the locale. The task area, details, huge deals advancement and ebb and flow development advancement were the key drivers for Altico Capital’s interest in the venture.

In another arrangement, the asset contributed Rs. 80 crore with Mumbai based Shree Sai bunch for a private undertaking named ‘The Nest’ In DN Nagar, Andheri West to refinance the current loan specialist and for completing the development of the task. The task is being produced by Shree Sai in a joint endeavor with Wadhwa Holdings and is being promoted under the Wadhwa brand name.

“We will take a gander finally mile financing for ventures in cutting edge phases of development and deals. We will likewise assess and finance Projects wherein sound corporate have tied up, under joint improvement game plans, with existing area proprietors and engineers to market and build ventures under their corporate brands,” said Grewal.

Altico Capital spotlights on senior secured loaning to private ventures in the Real Estate part crosswise over Tier-1 urban areas in India. Altico Capital is upheld by solid money related backers in Clearwater Capital Partners, Abu Dhabi Investment Council and Varde Partners.

Make exit arrangement for Sector 107 home purchasers: Noida Authority to manufacturers

The Noida Authority on Wednesday coordinated the manufacturers of different activities in Sector 107 to figure a way out arrangement for the purchasers who had put resources into the 5,000 lofts in the segment.


Indeed, even as a choice on the area procurement and development of the flats in the part is pending with the Supreme Court, the administrator of the Noida Authority guided the manufacturers to present the arrangement which would empower the purchasers to pull back their ventures from the manufacturers. The manufacturers should present the arrangement before May 25.

The Authority has required another meeting with purchasers and developers on May 25.

“We have been guaranteed by the Noida Authority that while a way out from the tasks will be offered to the purchasers, the Authority will likewise join the progressing case as an outsider. Numerous purchasers now basically need to leave the tasks, in this manner helping a considerable lot of us to extricate our assets,” Puneet Parashar, an individual from Sector 107, home purchasers’ affiliation, said.

Area 107 involves flats of Lotus 300, Amrapali Heartbeat City and Great Value Sharnam. The purchasers purchased the pads in 2010-11 in Noida’s Sector 107 (Sallarpur town). The Noida Authority obtained land in the year 2008-09 under a desperation provision of the Land Acquisition Act which was tested by the agriculturists, first in the Allahabad high court and after that in the Supreme Court. The summit court suppressed the securing in a request on August 5, 2013.

The manufacturers moved the SC for a survey of the request. The SC then sent the case back to the Allahabad high court for a survey. In June 2014, an Allahabad high court request halted all development in Sector 107 and forced the norm. The ventures have subsequent to remained slowed down.

“It has been a long-drawn fight. The Sector 107 purchasers have been battling for equity for quite a long time. This late drive has been conceivable in view of our managed online challenges and showings. We trust the issue will be determined soon,” said Arun Kalra, another individual from the affiliation.

50 allottees in Noida get a month to expel illicit structures

The Noida Authority on today issued around 50 notification to allottees owning private properties requesting that they expel unapproved developments from their properties inside 30 days or face strict activity.


Inability to evacuate the unapproved development could likewise bring about lease deed cancelations, authorities said.

The Authority toughened its position against unlawful development in neighborhoods taking after rehashed dissensions by other property proprietors in a few parts crosswise over Noida, who have been griping that the illicit structures were representing a danger to their security.

As per authorities, numerous private allottees in areas 37, 40, 41, 71, 82, and so forth have developed an additional room, fabricated inclines, made overhang projections and even introduced railings. “On accepting dissensions, our groups have led a study of the city to distinguish such properties,” said N P Jaiswal, general supervisor, lodging, Noida Authority. “So far we have distinguished around 50 property proprietors who have set up unlawful structures in their homes. We have issued them notification to cut down and expel these structures promptly. On the off chance that they don’t pay notice, we will be compelled to make a move,” he advised TOI.According to authorities, the vast majority of the unapproved developments are being seen in developed private units allocated by the Authority. “Property proprietors don’t have the privilege to make any expansions, increments or erasures in private units developed by the Authority. This is against the standards of the lease deeds executed with the allottee,” Jaiswal said.

Noida to get strict on defaulting allottees as pardon plan finished on April 30

Noida Authority is inspiring prepared to embrace a strict position with defaulting allottees. An absolution plan started by Noida Authority has finished on April 30. According to authorities, truant allottees could confront lease deed cancelations and even reallocation of their property. Duty adding up to almost Rs 15,000 crores from about 500 property proprietors have been remarkable for quite a while and should be gathered by Noida.


As per authorities, according to the plan, defaulting allottees over all classes of area use including bunch lodging, institutional, modern, business and individual allottees had been given a window relief. Any allottee who had an extraordinary sum more than Rs 500 crore needed to pay 10% of the sum because of profit of the exceptional offer. Allottees owing the Authority not as much as Rs 500 crore were to pay 15% of the due sum. Be that as it may, all allottees needed to pay enthusiasm on parity sum, which was to be gathered in portions and according to our standards.

Authorities further said that allottees who have presented their applications- – about 50 have done as such far- – will be clear to benefit of the absolution plan. Notwithstanding, allottees who have not connected and have three and more portions of levy still to clear on their property, will be punished. “After April 30, we could cross out lease deeds or even start stricter activity,” said an authority. “Fixing of their properties or seizing the property other than gathering further punishments is on the cards,” the authority included.

In the interim, authorities likewise said that Noida Authority will soon transfer points of interest of all defaulter designers on its site, www.noidaauthorityonline.com. The stride is being taken to advantage home purchasers with the goal that manufacturers don’t take blameless purchasers for a ride. Up to now, assemble lodging engineers need to pay the Authority more than Rs 7,000 crores.

DLF needs to rename Noida Sec 18 to City 18

Promoters of DLF Mall of India have suugested that the city’s fundamental business center point, Sector 18, be renamed as City 18 to advance it as the diversion center of NCR. The shopping center authorities said they are in converses with Noida Authority for the renaming exercise.


“We have proposed to rename Sector 18 to City 18. We have as of now met with Noida Authority authorities thus far got positive reaction from them,” said Pushpa Bector, official VP, DLF Mall of India.

The Mall of India was formally dispatched in Sector 18 on Wednesday.

Noida Authority executive and CEO Rama Raman said they had gotten the solicitation for a name change however had not acknowledged it yet.

Challenging Amrapali Golf Home purchasers hit Noida roads, request ownership of property

Angry level proprietors of Amrapali Golf Homes hit the roads in Noida, Uttar Pradesh, on Saturday to challenge against their developer who has postponed giving over the ownership of homes and declined to pay punishments emerging out of the deferral.


One of the most excellent ventures in the Noida augmentation territory, Amrapali Golf Homes has generally stayed unnoticed, even as it’s loaded with a few miserable stories.

Kapil Arora, a purchaser, has a weak septuagenarian father who needs standard medicinal consideration for his kidney treatment. On the off chance that that is insufficient, Kapil’s mom built up a serious spine issue because of which she needed to experience a noteworthy surgery requiring an insert in her spine.

Yet, now, the Gurgaon occupant is experiencing a harder stage to meet the restorative costs. He has paid somewhat less than 50 Lakhs for a condo in Amrapali Golf Homes in Greater Noida and needs to pay Rs 36,000 every month as the bank’s EMI against the home advance. Rs 25,000 go as month to month home rental. His rehashed demands for the arrival of his cash from the land goliath haven’t yielded any outcome.

Dispatched in 2009, Amrapali Golf Homes is yet to see the light of the day. Spread over a zone of around 60 sections of land in Greater Noida West, the mega private arrangement should have 50 elevated structures, yet the undertaking, starting now, is nothing not exactly a blemish on the horizon the zone.

Home purchasers assert that the development got slowed down two years back and regardless of rehashed gatherings between the level proprietors and the manufacturer, there has been no progress.

At the point when the debate of Amrapali Sapphire ejected, it gave a hint of something to look forward to the Golf Home purchasers.

Be that as it may, the energy lost the steam with the reports of different developers and tasks streaming in. The Golf Home purchasers by and by got disregarded.

Some of them likewise met Amrapali Group’s Chairman and Managing Director Dr Anil K Sharma in February and again in April, however the composed report they as of late got has left numerous families disillusioned.

Amrapali Group, in light of the minutes of gatherings arranged by Amrapali Golf Homes Buyers expresses, “The deferral under lock and key was brought on because of legitimate and other statuary issues which was outside our ability to control. Further alluding to the meeting dated 12-2-16, we have affirmed that we will be beginning offering ownership from October 2016 and close it by December 2017. Development plan effectively shared. We have additionally guaranteed that ownership dates won’t be overhauled.”

Irate home purchasers assert that the issue of postponed and expanded punishment was talked about in points of interest with the Dr Anil Sharma and it was examined and guaranteed that the same would be considered if the Amrapali Group neglects to meet the conveyance due dates. In any case, the Noida based developer says, “We might pay delay punishment as said in the level purchaser assention.”

The situation is, whether they quit paying back the bank advances they would be termed as defaulters, which risk ruining their record with the money establishments. On the off chance that they keep paying rent and also EMIs, it can arrive them in budgetary crunch.

While the North Okhla Industrial Development Authority (NOIDA) has taken an extreme position by constituting an uncommon board of trustees, which will investigate grumblings of home purchasers, Amrapali Golf Homes purchasers would like to move into the houses for which they have officially paid through their nose. As one purchaser puts it, “the venture has around 6,000 homes, which implies 6,000 families and no less than 12,000 individuals. Envision where these a large number of individuals would go if rendered destitute.”

Noida home purchasers meet Rama Raman to log their issues against manufacturers

Scores of home purchasers from four distinctive gathering lodging social orders met Rama Raman, Chairperson and CEO of Noida Authority on Wednesday, voicing their desolation at being denied their fantasy homes for quite a long time. While Raman guaranteed to determine their burdens, he additionally said that a meeting with individual engineers would be gathered beginning instantly to quick track registry of pads other than giving offices guaranteed by developers.


Addressing, Noida’s Additional CEO, P.K. Agarwal said that a council has additionally been shaped on the bearings of the Chairperson. Driven by the ACEO, the board of trustees’ individuals incorporate the Chief Architect Planner, Chief Project Engineer and GM bunch lodging. “On Wednesday, we will meet the designers of the four gathering lodging social orders, which have made a presentation to us,” said Agarwal. “These inhabitants have conveyed to our notification two principle issues. They have educated us that the developers are not finishing the registry process as guaranteed and that they have not establish fundamental conveniences including fire wellbeing highlights before giving over ownership of pads,” he clarified.

ACEO further said that the Chairperson has guaranteed the home purchasers of all backing. “We will do our best in determining the issues and in ensuring engineers take after moral practices,” said Raman. “Before long, we will require a meeting with every one of the engineers one by one. They will be informed that strict activity will be on the cards against anybody spurning understandings made between the purchaser and the developer,” he said.

Raman likewise said that the developers need to clear every one of their contribution, get No Objection Certificates gather Completion Certificates and after that hand over ownership to the home purchasers. “All development must be finished according to the Uttar Pradesh Apartment Act. Any infringement of design arrangements will bring about activity,” Agarwal said.

The purchasers speaking to four gatherings of a great many families said they were at their ties end. “We have been running from column to post with the expectation that our issues will be determined,” said Gaurav Jindal a home purchaser. Another gathering of home purchasers were from Amrapali Sapphire in part 45. They were incensed with the designer because of non-fulfillment of common and electrical work other than the absence of other fundamental offices in numerous towers.

The venture was propelled in 2009 and the main period of it has been finished. Their requests were not being appropriately tended to by the realty firm and that moved them to begin a viral crusade on the online networking named AmrapaliMisuseDhoni. They likewise labeled MS Dhoni’s authentic twitter account in their tweets and made their disappointment clear until he ventured down from being Ambassador of the gathering. “We have contributed our well deserved cash and life’s funds into our homes. This is unreasonable,” said Digvijay Singh, an occupant.

Akhilesh Yadav pledges to get stern with developers as purchasers in Noida cry foul

Faced with rising protestations by homebuyers in Noida on deferrals under lock and key, pending registries and fragmented framework, boss pastor Akhilesh Yadav on Wednesday guaranteed strict activity against brokers on the off chance that they traded off on nature of homes or neglect to satisfy guarantees set aside a few minutes of procurement.


“The legislature will guarantee the enthusiasm of individuals is secured and defend their well deserved cash in any part of the state, including Noida and Greater Noida,” the CM told. “There are protests by individuals and the Noida Authority and the legislature are investigating it. Stern move is being made against failing developers,” he included.

The comments came days after India’s cricket skipper Mahendra Singh Dhoni ventured down as brand minister of realty major Amrapali in the wake of a battle by a gathering of occupants on the manufacturer’s unfulfilled responsibilities.

The Noida Authority has shaped a board of trustees to investigate issues confronted by level purchasers. On Wednesday, scores of homebuyers met Noida administrator and CEO Rama Raman for review. Promising to determine their issues, Raman said he will quickly lead gatherings with engineers to quick track registry of pads, in which manufacturers gave offices as guaranteed. The purchasers who met Raman have pads in Amrapali, Prateek Wisteria, JM Orchid and Skytech Group ventures.

“We’ll do our best to determine the issues and ensure engineers take after moral practices,” said Raman. “Before long, we’ll assemble conferences with designers each one in turn, and let them know we are prepared to make strict move against those mocking any part of the understanding marked in the middle of purchaser and developer,” he included. Raman further said developers need to clear their contribution, get no-complaint testaments and finishing endorsements, and afterward convey pads.

Noida’s extra CEO P K Agarwal said the advisory group had been shaped on the headings of the director to investigate the issue.

Driven by the ACEO, the advisory group incorporates the boss modeler organizer, boss venture specialist and GM (bunch lodging) as individuals. “Inhabitants have conveyed to our notification two fundamental issues that the manufacturers are not finishing the registry process as guaranteed, or that they have not conveyed essential luxuries, for example, fire security highlights, before giving over ownership of pads,” Agarwal said. Fire wellbeing was one of the issues highlighted by inhabitants of Amrapali Sapphire in their Twitter crusade labeling Dhoni.

The ACEO further said the executive has guaranteed homebuyers full backing for their cause.

“Development of all properties must be finished according to Uttar Pradesh Apartment Act. Any infringement of design arrangements will bring about correctional activity,” Agarwal said.

On Wednesday, a portion of the purchasers from Amrapali Sapphire in Sector 45, said they were at their tie’s end. “We have contributed our well deserved cash and life’s investment funds into our homes. This is uncalled for,” said Digvijay Singh. “We have been running from column to post for quite a while, in the trust our issues will be determined,” said Gaurav Jindal, another homebuyer.

Gurgaon, the other land center point in NCR, has set up a grievance review discussion under the chairmanship of the Gurgaon representative official, to investigate such issues. The discussion meets frequently and was, not long ago, led interestingly by boss priest Manohar Lal Khattar himself.

Help for Unitech as NOIDA requests that LIC stop land e-closeout

In a help to Unitech, the Noida Authority has requested that Life Insurance Corporation stop an e-closeout of a 348-section of land plot distributed to the organization in 2006, which the realty major sold to general society area back up plan without authorization.


The Authority claims it has no record of any authorization looked for or allowed for selling the area to LIC and that it has the principal charge on it, which is determined in the lease deed.

The Authority has likewise blamed Unitech for defaulting on installments for the area assigned under the Express City bunch lodging plan in segments 96, 97 and 98 and issued a show-cause notification to the organization on contribution of almost Rs 2,500 crore.

LIC had planned the e-closeout for May 6 to gather duty of Rs 184 crore that Unitech owes it. The notification for “open offer of relentless property sold to the partnership under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002” was issued by LIC on April 5.

A Unitech representative said the organization would reimburse the remarkable sum soon.

One of the greatest names in the land business, Unitech has been experiencing a long spell of money related anxiety. Homebuyers in different Unitech ventures in Gurgaon have more than once dissented over postponements in handover of activities. Prior this week, Haryana CM Manohar Lal Khattar requested an advisory group to investigate the association’s benefits and liabilities.

Noida’s extra CEO P K Agarwal said, “The lease deed of the area was executed in December 2006 and ownership gave over that month. Unitech paid us Rs 483.74 crore and the remaining measure of Rs 1139.10 crore was to be paid in 10 meet half yearly portions with a yearly enthusiasm of 11% every year.”

The keep going portion was expected on May 30, 2011. Be that as it may, the land organization professedly neglected to meet its dedication. “We then offered the organization a rescheduled installment arrangement in October 2010,” Agarwal said. “Be that as it may, Unitech neglected to pay up again and till March 31 this year, levy amassed to the tune Rs 2,423 crore,” he included.

Agarwal said Noida had no record of any authorization looked for or allowed for selling the area to LIC. “Regardless of the possibility that such an authorization was looked for by Unitech, it would not have been conceded as they have defaulted on installments,” he said. “LIC too has no privilege to sell the property, since the Authority has the principal charge on it, which is indicated in the lease deed. We have requested that LIC stop the sale and advise us about the same inside of seven days.”

Clean measures eat clean in new Noida divisions: Residents

Around 100 inhabitants living in social requests like Prateek Wisteria, J M Orchid, Skytech Matrott, Elite Homes and Amarpali Silicon City in Noida’s sections 74, 75, 76 and 77 have cried of clean pollution because of advancement work in the zone. Tenants have in like manner whimpered that producers are not taking after the measures which along these lines is making wellbeing issues.

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Under the NGT runs, specific models should be trailed by the maker in the midst of improvement of a building. These consolidate step by step sprinkling of water on the clean and road enveloping the improvement domain, ousting clean from the road, covering the area being worked on with sheets and moreover covering trucks passing on sand, and whatnot.

As demonstrated by occupants, producers are not watering the area to avoid clean pollution, thusly initiating breathing disadvantage and detectable quality issues. They attested that reiterated disputes to the Noida Authority were in like manner going unnoticed.

They have moved closer the domain junior planner, additional head working officer (ACEO), range judge (DM) Nagendra Prasad Singh and even the National Green Tribunal (NGT) be that as it may it didn’t yield any results.

While VP official officer (DCEO) Saumya Srivastava taught work float 6 in-control M P Sharma to make a move, it was not got up to speed with action.

“We got a call from the DCEO, yet I don’t have any trust as there has been no action all through the past six months despite our grievances,” said Amit Gupta a tenant of Prateek Wisteria in Sector 77. Gupta said, “While DCEO Srivastava has been to a great degree helpful in tending to the matter, the designers are not listening to Authority powers and don’t obey runs the appear.”

M P Sharma has ensured action to the inhabitants, yet Gupta was doubtful, saying he has been listening to this for quite a while now.

A gathering of Authority powers drove by the DCEO studied territories 74 and 75 on April 3 taking after another grievance by the occupants on Sunday. In the midst of the study, Srivastava gave time till Monday to a parcel of the engineers.

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