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Dear ck.kislay,
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https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/noida-real-estate/47500-noida-city-real-estate-updates
Posted by: MANOJa
On: February 22 2018 09:00 AM
[h=1]SC to supervise completion of viable Amrapali projects[/h] Amit Anand Choudhary| TNN | Updated: Feb 22, 2018, 01:37 IST [h=4]HIGHLIGHTS[/h][LIST][*]The company is facing problems in completing the projects as its bank accounts have been seized because of insolvency proceedings initiated by Bank of Baroda for failure to repay loans[*]The court directed the company to furnish information on how much money it had received from buyers over the years and how much of it had been invested in projects[/LIST][IMG]https://timesofindia.indiatimes.com/thumb/msid-63021188,width-400,resizemode-4/63021188.jpg[/IMG] NEW DELHI: In an unprecedented intervention, the [URL="https://timesofindia.indiatimes.com/topic/Supreme-Court"]Supreme Court[/URL] on Wednesday took over the supervision of construction of all viable projects belonging to [URL="https://timesofindia.indiatimes.com/topic/Amarapali"]Amarapali[/URL] group, a huge relief to 43,000 home-buyers who have booked flats with the realtor and were facing uncertainty because of insolvency proceedings against it. A bench of Justices [URL="https://timesofindia.indiatimes.com/topic/Arun-Mishra"]Arun Mishra[/URL] and [URL="https://timesofindia.indiatimes.com/topic/Amitava-Roy"]Amitava Roy[/URL] said home-buyers would deposit the remaining instalments for their flats with [URL="https://timesofindia.indiatimes.com/topic/Amrapali"]Amrapali[/URL] projects in the SC registry, which could release the money to the realtor on completion of the projects to ensure there was no diversion of funds. The buyers could not pay home instalments as the realtor's bank accounts have been frozen as part of insolvency proceedings. The hearing saw the court expressing concern over the interest of home-buyers being neglected in insolvency proceedings against real estate companies and questioned how money deposited by buyers could be frozen in such proceedings. "The bank can take anything from the company but not the buyers' money. That money is of someone else and the buyers' interest has to be protected. We are concerned only about their interest. If there is a need to settle the law on this issue then we will settle it," the bench said. [IMG]https://timesofindia.indiatimes.com/img/63021187/Master.jpg[/IMG] Amrapali's under-construction housing projects include 170 towers in Noida and [URL="https://timesofindia.indiatimes.com/topic/Greater-Noida"]Greater Noida[/URL]. The company is facing problems in completing the projects as its bank accounts have been seized because of insolvency proceedings initiated by Bank of Baroda for failure to repay loans. The realtor has been restrained from disposing of its properties. Amrapali's counsel, senior advocate Ranjit Kumar, told the bench that the firm is facing severe financial crunch and was not in a position to complete the projects. He sought the SC's permission to rope in other builders to invest and complete the projects. Kumar said 47 towers having over 8,300 flats were almost ready but the company was in no position to arrange Rs 127 crore required to complete the work and hand those over to buyers who have to pay Rs 130 crore for getting possession of finished flats. The bench said buyers could be allowed to deposit the money in the SC and it could be released to the company after the completion of projects. It also said the court would the hear the plea of flat buyers on a project-wise basis to ensure that their grievances were addressed without delay. "We ask them to deposit the money before us and the money will be released to you after they get possession of their flats. Buyers must get possession of flats as soon as possible. We also have to take a practical approach in dealing with the case as there are many buyers and we will examine the issue on project-wise basis," the bench said. The court directed the company to furnish information on how much money it had received from buyers over the years and how much of it had been invested in projects. The bench also asked it to give details by Thursday on how much of buyers' money had been frozen in the insolvency proceedings. As Amrapali failed to give possession of flats and buyers were facing uncertainty with its sister firm facing insolvency proceedings, hundreds of buyers, who had booked homes in Amrapali's various projects in Noida and Greater Noida - including Amrapali Centurion Park-Low Rise, Amrapali Centurion Park-Terrace Homes and Amrapali Centurion Park-Tropical Garden - moved the SC. [h=2]They approached the court after [URL="https://timesofindia.indiatimes.com/topic/National-Company-Law-Tribunal"]National Company Law Tribunal[/URL][SIZE=13px] (NCLT) initiated corporate insolvency resolution process and the tribunal restrained the company from transferring or disposing of its assets on a plea of Bank of Baroda which had given loan to the company.[/SIZE][/h] [url]https://timesofindia.indiatimes.com/city/delhi/sc-to-supervise-completion-of-viable-amrapali-projects/articleshow/63021167.cms[/url]
With warm regards,
Team IREF
https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/noida-real-estate/47500-noida-city-real-estate-updates
Posted by: MANOJa
On: February 22 2018 10:01 AM
[h=1]Centre orders pollution curbs, broom sweeping of roads to stop in Noida[/h] [URL="https://timesofindia.indiatimes.com/toireporter/author-Vandana-Keelor-39625802.cms"]Vandana Keelor[/URL]| TNN | Updated: Feb 22, 2018, 02:34 IST [IMG]https://timesofindia.indiatimes.com/thumb/msid-63021370,width-400,resizemode-4/63021370.jpg[/IMG] NOIDA: The Union environment ministry has asked [URL="https://timesofindia.indiatimes.com/topic/Noida-Authority"]Noida Authority[/URL] to adopt immediate measures to mitigate pollution. These include cleaning the city�s streets mechanically and establishing a permanent helpline number to receive pollution-related complaints. Officials said Noida Authority has also been asked to submit an action plan to alleviate pollution levels in the city to the ministry within 10 days, besides a performance report every month. The meeting between officials from Noida Authority, Gautam Budh Nagar district administration, the [URL="https://timesofindia.indiatimes.com/topic/UP-Pollution-Control-Board"]UP Pollution Control Board[/URL] and the Union ministry of environment, forest and climate change (MoEF&CC) took place in Delhi on Tuesday. �Sweeping with brooms across 24-metre-wide roads will henceforth be stopped. These roads will be cleaned mechanically,� said Rajesh Singh, officer on special duty (OSD), Noida Authority. �Currently, we have only two mechanised vehicles which clean six main roads of the city. If we have to undertake the cleaning of all roads with width from 12 metres to 32 metres, we will have to procure additional machines,� he said. �On Wednesday, I have asked all work circle project engineers to carry out a detailed survey and within a week identify all roads measuring 12, 18, 24 and 32 metres so that we can arrive at the number of mechanised vehicles we need to purchase for cleaning,� Singh explained. �Once I have all the details, we will initiate a tender and procure the vehicles,� he added. Singh said a helpline number will also be established as directed by GK Mishra, Union environment secretary. �To control dust pollution, as per the ministry guidelines released in 2010, it is mandatory for construction sites to put sheets on construction material, sprinkle water on dust and not ferry construction material in open vehicles to contain air pollution. All these norms will be enforced,� he added. The green ministry has further directed that the entire mitigation plan should be in place within the next 10 days, by March 1. �We have been asked to submit our plan of action in the next 10 days. A performance report will also have to be submitted by 7th of every month to the ministry,� the OSD said. [url]https://timesofindia.indiatimes.com/city/noida/centre-orders-pollution-curbs-broom-sweeping-of-roads-to-stop-in-noida/articleshow/63020869.cms[/url]
With warm regards,
Team IREF
https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/noida-real-estate/47500-noida-city-real-estate-updates
Posted by: MANOJa
On: February 22 2018 10:01 AM
[h=1]DND Flyway firm pays Rs 4 lakh fine for pruning trees[/h] [URL="https://timesofindia.indiatimes.com/toireporter/author-Shafaque-Alam-479234140.cms"]Shafaque Alam[/URL]| TNN | Updated: Feb 22, 2018, 02:31 IST [IMG]https://timesofindia.indiatimes.com/thumb/msid-63020857,width-400,resizemode-4/63020857.jpg[/IMG]A case was filed on Feb 1 NOIDA: The [URL="https://timesofindia.indiatimes.com/topic/DND-Flyway"]DND Flyway[/URL]management has paid a [URL="https://timesofindia.indiatimes.com/topic/fine"]fine[/URL]of Rs 4 lakh to the district forest department for illegally pruning 46 trees to improve the visibility of hoardings along the stretch. The operator has also urged the forest department to withdraw its complaint to police. TOI had on February 1 reported that a case was filed against the flyway operator after the district forest department carried out an inspection and found largescale pruning of trees along the stretch. The FIR was registered at Sector 20 police station under sections 4 and 10 of the [URL="https://timesofindia.indiatimes.com/topic/Uttar-Pradesh-Protection-of-Trees"]Uttar Pradesh Protection of Trees[/URL] in Rural and Hill Areas Act, 1976. Kitab Singh, range forest officer, said on Wednesday, �Sushant Jain, a manager of NTBCL, DND Flyway operator, has paid the compounding fee of Rs 4 lakh through a cheque. The company has requested us to withdraw the police complaint in this case.� Singh said the state trees protection act has provisions of reconciliation after the compounding fee is collected from the violator. �We will write to Noida police and inform about the matter. We will initiate a proceeding to withdraw the case,� he said. The forest department had initially sent Dadri range officer DK Goyal for spot inspection after getting a complaint of tree pruning from an environment activist, Vikrant Tongad. Goyal, however, filed a fake report, claiming there was no pruning. However, further investigations revealed there was pruning and the official was suspended. [url]https://timesofindia.indiatimes.com/city/noida/dnd-flyway-firm-pays-rs-4-lakh-fine-for-pruning-trees/articleshow/63020858.cms[/url]
With warm regards,
Team IREF
https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/noida-real-estate/47500-noida-city-real-estate-updates
Posted by: MANOJa
On: February 22 2018 10:02 AM
[h=1]No decision yet on water tariff hike, says Noida[/h] [URL="https://timesofindia.indiatimes.com/toireporter/author-Meenakshi-Sinha-19258.cms"]Meenakshi Sinha[/URL]| TNN | Updated: Feb 22, 2018, 02:25 IST [IMG]https://timesofindia.indiatimes.com/thumb/msid-63021339,width-400,resizemode-4/63021339.jpg[/IMG] NOIDA: Officials of the [URL="https://timesofindia.indiatimes.com/topic/Noida-Authority"]Noida Authority[/URL] on Wednesday said no decision has been taken yet on increasing [URL="https://timesofindia.indiatimes.com/life-style/health-fitness/****/How-much-water-should-you-drink-every-day/articleshow/20408856.cms"]water[/URL] tariff. �No final figure is ready for a proposed tariff hike in water rates,� S C Arora, senior project engineer of Noida Authority, told TOI on Wednesday. This came after a news report stated that there would be a likely 160% rise in water tariff soon. [URL="https://timesofindia.indiatimes.com/topic/Arora"]Arora[/URL] denied the figure. Private firm [URL="https://timesofindia.indiatimes.com/topic/Ernst"]Ernst[/URL] and Young has been hired to tabulate the existing water connections and an impending increase following the growth in population and increased realty possessions. �Any tariff increase will only be finalised in the next financial year � after March 2018 � after studying the report which is yet to be submitted by Ernst and Young. Currently they are collecting data from neighbouring areas as well as across Noida. They are likely to submit their report by March first week,� Arora told TOI. Though Arora admits that the Authority is mulling an increase in water tariff after March 2018, nothing is final yet. �We have not given any figure as of now for increase in tariff rates for water,� he said. Meanwhile, residents opposed the proposed tariff hike citing poor quality and quantity of the water supplied. They demand corrective steps be taken before the traiff is increased. [url]https://timesofindia.indiatimes.com/city/noida/no-decision-yet-on-water-tariff-hike-says-noida/articleshow/63020835.cms[/url]
With warm regards,
Team IREF
https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/noida-real-estate/47500-noida-city-real-estate-updates
Posted by: MANOJa
On: February 22 2018 10:02 AM
[h=1]Noida flat buyers to get interest subsidy soon[/h] [URL="https://timesofindia.indiatimes.com/toireporter/author-Dipak-K-Dash-479213512.cms"]Dipak K Dash[/URL]| TNN | Updated: Feb 22, 2018, 02:21 IST [IMG]https://timesofindia.indiatimes.com/thumb/msid-63020690,width-400,resizemode-4/63020690.jpg[/IMG]Sources said the ministry has issued the necessary codes for both the cities and these have been forwarded to ... Read More NEW DELHI/NOIDA: Soon new home [URL="https://timesofindia.indiatimes.com/topic/buyers"]buyers[/URL] from the middle income groups (MIGs) in Noida and [URL="https://timesofindia.indiatimes.com/topic/Greater-Noida"]Greater Noida[/URL] will be able to get interest subsidy of approximately Rs 2.5 lakh on their home loans under the PM Awas Yojna (PMAY). The Uttar Pradesh government has sent the names of these two towns in the National Capital Region (NCR) to the housing and urban affairs ministry to be included in the list of urban areas where the subsidy scheme is applicable. Sources said the ministry has issued the necessary codes for both the cities and these have been forwarded to the [URL="https://timesofindia.indiatimes.com/topic/National-Housing-Bank"]National Housing Bank[/URL] (NHB) and Housing and Urban Development Corporation (HUDCO). NHB administers the scheme. They will soon update the list of cities and towns that are covered under PMAY interest subsidy scheme. It�s learnt that some of the other states have also sent more names to be included in the list. In first week of February, TOI had first flagged how thousands of home buyers in these two cities were being deprived of interest subsidy scheme. The report prompted UP government to fast track the pending proposal and the state industry department sent names of the two cities. Noida and Greater Noida fall under industrial authorities unlike neighbouring [URL="https://timesofindia.indiatimes.com/topic/Ghaziabad"]Ghaziabad[/URL], which falls under urban development department. The government had extended interest subsidy benefit to two sections of MIGs - 4% interest subsidy for buyers with annual income of Rs 6 lakh to 12 lakh and 3% interest subsidy for people having annual income between Rs 12 lakh and Rs 18 lakh - starting January 2017. Homebuyers aware of this benefit and hoping to avail of it only realised the gain won�t accrue to them after getting their loan sanctioned and making initial payment. People who could not avail the benefit because of the state government�s inaction have also asked why they should be made to pay the price since there was no fault on their part. They have also demanded that the benefit should be extended to those eligible people who bought the flats since January last year and qualify to get the benefit. [url]https://timesofindia.indiatimes.com/city/noida/noida-flat-buyers-to-get-interest-subsidy-soon/articleshow/63020691.cms[/url]
With warm regards,
Team IREF
https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/noida-real-estate/47500-noida-city-real-estate-updates
Posted by: MANOJa
On: February 22 2018 10:14 AM
[h=1]Buyers in Noida to get interest subsidy of Rs 2.5 lakh on home loans under PMAY[/h] Sources said the ministry has issued the necessary codes for both the cities and these have been forwarded to the National Housing Bank (NHB) and Housing and Urban Development Corporation (HUDCO)[URL="https://realty.economictimes.indiatimes.com/author/479213512/dipak-k-dash"]Dipak K Dash[/URL] | TNN | February 22, 2018, 07:57 IST NEW DELHI/NOIDA: Soon new home [URL="https://realty.economictimes.indiatimes.com/tag/buyers"]buyers[/URL] from the middle income groups (MIGs) in Noida and [URL="https://realty.economictimes.indiatimes.com/tag/greater+noida"]Greater Noida[/URL] will be able to get interest subsidy of approximately Rs 2.5 lakh on their home loans under the PM Awas Yojna (PMAY). The Uttar Pradesh government has sent the names of these two towns in the National Capital Region (NCR) to the housing and urban affairs ministry to be included in the list of urban areas where the subsidy scheme is applicable. Sources said the ministry has issued the necessary codes for both the cities and these have been forwarded to the [URL="https://realty.economictimes.indiatimes.com/tag/national+housing+bank"]National Housing Bank[/URL] (NHB) and Housing and Urban Development Corporation (HUDCO). NHB administers the scheme. They will soon update the list of cities and towns that are covered under PMAY interest subsidy scheme. It�s learnt that some of the other states have also sent more names to be included in the list. In first week of February, TOI had first flagged how thousands of home buyers in these two cities were being deprived of interest subsidy scheme. The report prompted UP government to fast track the pending proposal and the state industry department sent names of the two cities. Noida and Greater Noida fall under industrial authorities unlike neighbouring [URL="https://realty.economictimes.indiatimes.com/tag/ghaziabad"]Ghaziabad[/URL], which falls under urban development department. The government had extended interest subsidy benefit to two sections of MIGs - 4% interest subsidy for buyers with annual income of Rs 6 lakh to 12 lakh and 3% interest subsidy for people having annual income between Rs 12 lakh and Rs 18 lakh - starting January 2017. Homebuyers aware of this benefit and hoping to avail of it only realised the gain won�t accrue to them after getting their loan sanctioned and making initial payment. People who could not avail the benefit because of the state government�s inaction have also asked why they should be made to pay the price since there was no fault on their part. They have also demanded that the benefit should be extended to those eligible people who bought the flats since January last year and qualify to get the benefit. [url]https://realty.economictimes.indiatimes.com/news/residential/buyers-in-noida-to-get-interest-subsidy-of-rs-2-5-lakh-on-home-loans-under-pmay/63022536[/url]
With warm regards,
Team IREF
With warm regards,
Team IREF
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