Real Estate
Noida, Greater Noida, and YEDIA resume work on unified land allocation policy
Noida: After more than 14 years, the three development authorities of Gautam Budh Nagar- Noida, Greater Noida, and Yamuna Expressway have resumed work on a unified policy on land allocations across various categories, be it industrial, group housing or commercial.
The plan was initiated in 2010, aiming to streamline eligibility criteria, lease terms, rent structures, and procedural formalities across the authorities. Last month, talks resumed on the unification of policies at a board meeting of Greater Noida Authority chaired by chief secretary Manoj Kumar Singh. A document – Unification of policies of Noida, G Noida & YEIDA was presented to him.
“If adopted, the proposal promises to create a standardised regulatory framework for industrial land allocations and facilitate a more consistent and transparent process for businesses and investors,” an official said.
The need for a unified approach was felt a decade and a half ago as the three authorities struggled to maintain clear and consistent policies for industrial land allotments. Over the years, the allotment criteria changed multiple times from that based on objectives to interviews and then e-tenders. Finally, they settled for objective-based criteria.
But this back and forth came at a cost industrial land allotments remained suspended for almost 10 months. Industries minister Nand Gopal Gupta (Nandi) raised objections on the authorities’ plan to adopt the objective criteria without a formal approval from the CM.
It was in 2010 that Greater Noida Authority hired Sarc & Associates- a chartered accountancy firm to draft a standardised approach involving land allotments.
This was after officials raised concerns that varied policies were causing inconsistencies and causing operational inefficiencies and confusion among businesses and investors. A formal contract was executed with Sarc in Oct 2010. The agency initiated work, but could not complete the project because of logistical reasons.
In Sept last year, Singh wrote to the authorities to renew the contract with Sarc for a uniform policy. Each Authority designated a nodal officer Soumya Srivastava (Greater Noida), Sanjay Kumar Khatri (Noida) and Kapil Singh (Yamuna Expressway).
Interestingly, Sarc agreed to resume work at the rate decided 14 years ago — Rs 36.5 lakh plus GST.
A meeting was convened in Dec last year among the nodal officers and finance controllers of all three authorities. The key agenda was to assess current policies, streamline procedures, and draft the new SOPs.
The Greater Noida Authority’s board approved a proposal to share the consultancy cost with its counterparts. A letter dated Feb 29 this year commissioned Sarc to carry out the task.
It included aligning the criteria for eligibility, lease terms, rent structures, and other procedural formalities to ensure a consistent regulatory framework for land allotments across the district.
The unified policy proposal is now awaiting approval from the boards of all three authorities.
Real Estate
People are moving towards luxury, know what the report tells
The reason behind the continuous launch of luxury projects in real estate is their rapidly increasing demand. In this quarter, compared to the previous quarter, the number of people wanting to go beyond luxury and buy ultra-luxury properties has almost doubled. Among these, the number of people who want to buy property worth more than Rs 1 crore is more than 25 percent.
Increased interest in the Rs 3.5 to Rs 5 crore segment
Many new and surprising things have come to light in the recent survey. After a survey conducted in 13 major cities, it has been revealed in the report that the number of buyers for luxury real estate has increased rapidly. The survey report states that 25.5 percent of potential buyers are looking for property worth more than Rs 1 crore and are planning to buy it. In this too, the highest interest is being seen in the segment of Rs 3.5 to Rs 5 crore.
The number of people wanting ultra luxury property has doubled
There has been a rapid increase in interest in luxury and ultra-luxury properties, especially flats and villas. About 35 percent of the people surveyed talked about buying ultra-luxury properties. This number has almost doubled from the 18 percent recorded in the previous quarter. Due to this growing desire among people, the real estate sector is currently launching projects of ultra-luxury flats and villas.
The demand for 3BHK is on peak
The survey also revealed that people have become more interested in bigger spaces and more open spaces. More than 45 percent of the people surveyed want their home to be larger than 2000 square feet and they are also looking for such a property.
Along with this, 56 percent of the people want to buy a 3BHK or bigger property. In such a situation, it is certain that the projects that will be launched in the real estate market will be large in size and will also be full of facilities.
Real Estate
Noida International Airport To Begin Operations With 30 Flights In April 2025
The highly anticipated Noida International Airport (NIA) in Jewar is slated to commence operations on April 17, 2025, with plans to connect 25 domestic cities and three international destinations, including Zurich, Dubai, and Singapore. This strategic airport is designed to ease congestion in the Delhi-NCR region, marking a significant development in India’s aviation sector.
Capacity Expansion Due to High Demand
With airlines expressing keen interest, the NIA has decided to increase its aircraft parking bays from the initial 25 to 34 by April 2025. This expansion is aimed at accommodating the growing demand, especially for night parking facilities, which has been a critical issue in the region. The airport expects to handle approximately 50 lakh passengers in its first year, reaching nearly half of its initial capacity.
Domestic and International Services
NIA will feature 30 flights daily, including 25 domestic and three international services, along with two dedicated cargo routes. Domestic routes will connect key Indian cities such as Mumbai, Bengaluru, Lucknow, Hyderabad, and Dehradun. The Directorate General of Civil Aviation (DGCA) has already approved the domestic services, while international approvals from IATA are in place, pending final government clearance.
Phased Development and Future Growth
The airport is scheduled to start operations in April 2025 with an initial capacity of 1.2 crore passengers annually. Given the rapid growth of Indian aviation, NIA anticipates reaching 50 lakh passengers in its first year alone. The second phase of development is expected to begin well before the end of this decade, as the airport aims to meet the increasing demand for air travel.
Infrastructure and Development
The first phase of NIA developed over 1,334 hectares, includes a runway and a terminal capable of handling 12 million passengers annually. The project also features a maintenance, repair, and overhaul (MRO) hub and a multi-modal cargo facility to enhance logistics capabilities. With its strategic location, modern facilities, and commitment to efficient operations, NIA is poised to become a major hub for air travel in India.