Noida authority demand commercial plot allotment termination
Real Estate

Noida authority demand commercial plot allotment termination

Two commercial site allotments that were terminated due to suspected condition violations and non-competitive pricing have been the subject of a complaint from the Noida Authority to the Uttar Pradesh government. Following a complaint that the realtors who were given the land were not authorised, the state government revoked the allotments to Lavish Buildmart and Skyline Propcon, companies of the Gurgaon-based real estate business M3M, on May 10. Through a commercial plot plan, Lavish Buildmart was given a Rs 8.27 billion plot in Sector 94 in November 2022, while Skyline Propcon was given a Rs 1.76 billion plot in Sector 72 in February of the previous year. Earlier this week, the UP additional chief secretary, Manoj Kumar Singh, who is also the chairman of the Noida Authority, asked the industrial authority to submit a comprehensive report after M3M submitted a representation before the government seeking the allotted land parcels to be restored. In the letter to the UP government, the developer expressed their dismay over the cancellation of the land allotment without hearing their side. After registering the land parcels last year and obtaining other approvals, M3M announced luxurious commercial and residential projects in Sectors 94 and 72. The cancellation of the land allotment left hundreds of investors and property buyers worried. Sunil Julka, a homebuyer who invested Rs 00.1 billion in The Cullinan, said that he had invested in the project in March after thoroughly checking the property's background, as the land was allotted by the Authority and had UP-RERA registration. He mentioned that he had bought the flat after selling his plotted house and was currently living in a rented apartment. Saurabh Gupta, who invested over Rs 00.1 billion in the project, asked if homebuyers could not trust government allotments and whom they could believe. He expressed hope that the government would reconsider its order, keeping homebuyers in mind. The cancellation order, issued by Anil Kumar Sagar, principal secretary (UP industrial development department), stated that in both cases, the bid quotes were increased by only Rs 5 lakh over the reserve price. Although there is a provision to consider a single bid after extending the tender date twice by the authority, the aim of any tender is to get a competitive rate, which is not the case here.

Two commercial site allotments that were terminated due to suspected condition violations and non-competitive pricing have been the subject of a complaint from the Noida Authority to the Uttar Pradesh government. Following a complaint that the realtors who were given the land were not authorised, the state government revoked the allotments to Lavish Buildmart and Skyline Propcon, companies of the Gurgaon-based real estate business M3M, on May 10. Through a commercial plot plan, Lavish Buildmart was given a Rs 8.27 billion plot in Sector 94 in November 2022, while Skyline Propcon was given a Rs 1.76 billion plot in Sector 72 in February of the previous year. Earlier this week, the UP additional chief secretary, Manoj Kumar Singh, who is also the chairman of the Noida Authority, asked the industrial authority to submit a comprehensive report after M3M submitted a representation before the government seeking the allotted land parcels to be restored. In the letter to the UP government, the developer expressed their dismay over the cancellation of the land allotment without hearing their side. After registering the land parcels last year and obtaining other approvals, M3M announced luxurious commercial and residential projects in Sectors 94 and 72. The cancellation of the land allotment left hundreds of investors and property buyers worried. Sunil Julka, a homebuyer who invested Rs 00.1 billion in The Cullinan, said that he had invested in the project in March after thoroughly checking the property's background, as the land was allotted by the Authority and had UP-RERA registration. He mentioned that he had bought the flat after selling his plotted house and was currently living in a rented apartment. Saurabh Gupta, who invested over Rs 00.1 billion in the project, asked if homebuyers could not trust government allotments and whom they could believe. He expressed hope that the government would reconsider its order, keeping homebuyers in mind. The cancellation order, issued by Anil Kumar Sagar, principal secretary (UP industrial development department), stated that in both cases, the bid quotes were increased by only Rs 5 lakh over the reserve price. Although there is a provision to consider a single bid after extending the tender date twice by the authority, the aim of any tender is to get a competitive rate, which is not the case here.

Next Story
Infrastructure Transport

Tata, Airbus to Build India’s First Private Helicopter Line

In a landmark development for India’s aerospace sector, Tata Advanced Systems Limited (TASL) and Airbus will establish the country’s first private-sector helicopter assembly line in Vemagal, Karnataka. The facility will manufacture the Airbus H125 and H125M, marking a significant milestone in India’s push for self-reliance in aviation and defence manufacturing. The new Final Assembly Line (FAL) will produce the H125, the world’s best-selling single-engine helicopter, known for its versatility and performance in extreme environments. The first ‘Made in India’ H125 is expected to ro..

Next Story
Infrastructure Urban

NeGD to Support Bharat Taxi in Building Cooperative Ride Platform

In a significant move for India’s digital and mobility transformation, the National e-Governance Division (NeGD) of the Digital India Corporation, under the Ministry of Electronics and Information Technology (MeitY), has entered into an advisory partnership with Sahakar Taxi Cooperative Limited, the company behind Bharat Taxi — a first-of-its-kind, cooperative-led national ride-hailing platform. A Memorandum of Understanding (MoU) has been signed between NeGD and Sahakar Taxi to provide strategic advisory and technical support covering key areas such as platform integration, cybersecurity..

Next Story
Technology

MeitY Hosts Pre-Summit for India–AI Impact Summit 2026

The Ministry of Electronics and Information Technology (MeitY), Government of India, hosted a series of Pre-Summit events for the upcoming India–AI Impact Summit 2026 at the India Mobile Congress (IMC) 2025 in New Delhi. These sessions mark a key milestone ahead of the main summit, scheduled for 19–20 February 2026 at Bharat Mandapam, New Delhi. Delivering the inaugural address, S. Krishnan, Secretary, MeitY, highlighted India’s innovative and frugal approach to AI development. “We have adopted innovative means by learning from others’ experiences to build projects and products that..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?