Noida: Expanding Amrapali projects, sales to fund completion
ECONOMY & POLICY

Noida: Expanding Amrapali projects, sales to fund completion

The Greater Noida Industrial Development Authority (GNIDA) announced that additional construction in projects of the beleaguered Amrapali Group, being undertaken by the public sector company NBCC through a Supreme Court-monitored process, has received clearance.

The GNIDA anticipates a revenue windfall of Rs 4.5 billion by permitting extra floor area ratio (FAR) in the projects. NBCC, under the supervision of Supreme Court-appointed receiver R Venkataramani, is currently progressing with the completion of five residential projects of Amrapali ? Centurion, Smart City, Leisure Park, Leisure Valley, and Dream Valley in Greater Noida.

For these residential projects, the GNIDA had originally allocated 317 acre of land. In a bid to generate funds, NBCC had previously requested GNIDA to increase FAR. This would enable the construction of additional flats and houses, providing an opportunity to sell them and raise funds for other stalled projects of the Noida-based group, which faced financial difficulties with its owner imprisoned for alleged diversion of funds.

Redefine the future of urban mobility! Join us at the Metro Rail Conference 2025 to explore groundbreaking ideas and insights. 👉 Register today!

The Greater Noida Industrial Development Authority (GNIDA) announced that additional construction in projects of the beleaguered Amrapali Group, being undertaken by the public sector company NBCC through a Supreme Court-monitored process, has received clearance. The GNIDA anticipates a revenue windfall of Rs 4.5 billion by permitting extra floor area ratio (FAR) in the projects. NBCC, under the supervision of Supreme Court-appointed receiver R Venkataramani, is currently progressing with the completion of five residential projects of Amrapali ? Centurion, Smart City, Leisure Park, Leisure Valley, and Dream Valley in Greater Noida. For these residential projects, the GNIDA had originally allocated 317 acre of land. In a bid to generate funds, NBCC had previously requested GNIDA to increase FAR. This would enable the construction of additional flats and houses, providing an opportunity to sell them and raise funds for other stalled projects of the Noida-based group, which faced financial difficulties with its owner imprisoned for alleged diversion of funds.

Next Story
Resources

Ashwin Sheth Group’s #3YearsFromNow Campaign Envisions Mumbai's Future

Ashwin Sheth Group, a leading luxury real estate player, announces the launch of its campaign, #3YearsFromNow, centred around its marquee project Edmont Aurelia in Kandivali. This initiative envisions various locations in Mumbai – starting with Kandivali and evolving into a thriving hub of growth and innovation over the next three years, featuring world-class infrastructure, premier educational and governmental institutions, upscale shopping malls, bustling corporate hubs, and seamless connectivity.The #3YearsFromNow campaign is a bold statement of commitment to transforming Mumbai’s urban..

Next Story
Resources

Bonzer7 Signs Vaani Kapoor for ‘Kya Baat Hain’ Campaign

Bonzer7, a premium tiles brand by Asian Granito India Ltd (AGL), has announced Bollywood actress Vaani Kapoor as its brand ambassador. This collaboration highlights Vaani's elegance and versatility, aligning perfectly with Bonzer7's focus on luxurious, innovative products. The announcement coincides with the launch of its new campaign, ‘Kya Baat Hain,’ featuring the Bollywood star.Bonzer7 caters to modern India's aesthetic needs, offering a rich collection of stylish and budget-friendly tiles. Competing with Morbi-based brands, Bonzer7 has become a leader in trendy designs, blending afford..

Next Story
Resources

REC Limited Commits Funds for 1MW Solar Power Plant in TN

REC Limited, a Maharatna CPSE under the Ministry of Power, has signed a Memorandum of Agreement (MoA) with the Gandhigram Rural Institute (GRI), Dindigul, Tamil Nadu, to establish a 1MW ground-mounted, grid-connected solar photovoltaic power plant. Under its Corporate Social Responsibility (CSR) initiative, REC has pledged ₹8.44 crore for the project, which will benefit students and researchers at the institute.The solar power plant, to be implemented by GRI in collaboration with BHEL, aims to make the institute self-reliant in energy while serving as a hub for research on advanced solar tec..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000