The erstwhile Bahujan Samaj Party government's decision to transfer over 500 acres of land to the Noida Authority in 2009 has resulted in a whopping Rs 2,600 crore loss to the state exchequer, the Comptroller General of India has pointed out.
The farmers have agreed to call off their agitation.
According to a court official, "The land was acquired for residential purposes in June 2008 in Patwari village under Dadri Tehsil of what is known as Gautam Budh Nagar district in the neighbourhood of the national capital New Delhi."
Friday's Allahabad high court order quashing the acquisition of land by the Greater Noida Authority in Sahberi village of Gautam Budh Nagar district could affect several people who had booked apartments in projects located there.
The Allahabad high court on Monday asked the Uttar Pradesh government and Noida Authority to file their counter-affidavits on the hundreds of petitions filed by the farmers of Gautam Buddh Nagar district, who have challenged the acquisition of more than 3,000 hectares of land for the development of Greater Noida and Noida Extension areas.
While referring the Noida extension land acquisition issue to a larger bench, the Allahabad High Court on Tuesday gave the Uttar Pradesh government and the agitating farmers a bonus period of 17 days to try and negotiate an out of court settlement.
Banks and housing finance companies (HFCs) are trying to figure out their exposure to real estate projects in Noida Extension, which have come under cloud after courts cancelled land acquisition in several villages by Greater Noida authorities.
Farmers of these villages had filed a petition in the HC against the acquisition of their land by Noida Authority.
The court also questioned how Amrapali Group could mortgage the entire projects and secure loan worth thousands of crores of rupees from banks when it was only an agent to develop the property.
The Allahabad high court on Monday granted bail to former Uttar Pradesh chief secretary Neera Yadav and industrialist Ashok Chaturvedi, sentenced to four years imprisonment in a Noida land scam case last week.
The Supreme Court on Friday restrained the Uttar Pradesh government from carrying out building and construction activities for the installation of statues and memorials of Dalit icons, including Chief Minister Mayawati, at a park in Noida adjacent to the national capital.
In a major relief to cell phone users and service providers, the Lucknow Bench of the Allahabad High Court has directed Noida authority to open the seal of over 100 mobile towers immediately.
The IAS officials suspended for their alleged involvement in the 4721-crore-rupee scam are Rakesh Bahadur, Sanjeev Sharan and Ravindra Naik.
Many likely to be in trouble if restive consumers also petition the courts.
Unable to pay for the largest ever land deal in India, valued at Rs 5,006 crore, realty player BPTP Ltd has applied for surrendering it to the New Okhla Industrial Development Authority. "Following the UP government policy announcement, BPTP has made an application to the Noida authority for (the) surrender of (the) plot and is awaiting NOIDA's decision," BPTP Ltd Director Sudhanshu Tripathi said in a statement in New Delhi.
N Sundaresha Subramanian, Karan Choudhury and Shreya Jai report on the sorry condition of homebuyers who invested in Jaypee Infratech and the Amrapali group's Noida-based projects.
A bench headed by Justice H K Sema and comprising Justice Aftab Alam dismissed the petition filed by the Noida authorities against the Allahabad high court direction for the CBI inquiry into the alleged irregularities into the draw of lots for the allotment of 1,210 plots and which had caused huge losses to the Uttar Pradesh exchequer
Real estate firm Unitech Ltd will invest Rs 1,800 crore (Rs 18 billion) in the next 4-5 years, to develop an exclusive residential project at Greater Noida.
The big question is whether the regulators will have the courage to prosecute the bigwigs in the cities.
The police in Noida has prohibited any religious activity, including offering of Friday prayers by Muslims, in a public park.
Since December 2018, monetary policy has been eased substantially by RBI with policy rates being cut by 75 bps and policy outlook being changed to 'accommodative'.
The company seeks floor area ratio of 3, against the permitted 2, from Uttar Pradesh.
A total of 3,696 allottees pertaining to group housing, commercial department, industrial department, institutional department and residential plots are defaulters.
At least 12 labourers were in the under-construction building and all of them are feared trapped, Chief Fire Officer Arun Kumar Singh said.
The Lucknow bench of the Allahabad high court on Thursday ordered a CBI probe against tainted Noida official Yadav Singh, whose disproportionate assets were exposed in a raid by the Income Tax department several months ago.
"We refuse to grant any relief," the SC said.
Supertech also plans to file an SLP in the Supreme Court.
It has conducted searches against four bureaucrats based in Uttar Pradesh and Uttarakhand over the last three days.
Afghanistan's cricket team will shifted its home base from Sharjah to the Uttar Pradesh Cricket Association stadium in Noida where they will play their matches and practice after an MoU was signed on Thursday in this regard.
He said it's an alliance between two families, one of which 'looted' the country and the other UP.
E-auaction cannot totally end corruption in the system.
Meet Anand Kumar, a government clerk who transformed into a real estate and hospitality baron.
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