Noida authority withdraws land allotted to Wave

12 Mar 2021 Editorial Team

Noida Authority has withdrawn land from the Wave Group and taken possession of the Wave City Centre land due to non-payment of dues.

The Authority took possession of the land this week after a long six-month process. It will bring schemes such as commercial real estate, hotels, residential complexes, and mini-malls on this land.

Back in March 2011, the Noida Authority had allotted 614,000 sq m of land to the Wave group.

Initially, Wave was preparing to develop the land as a commercial hub, but in 2016, the group applied to return the land to Noida Authority under the Project Settlement Policy. However, the activities related to the withdrawal of the property could not be completed.

4th Indian Cement Review Conference 2021

17-18 March

Click for event info

Later, under the Project Settlement Policy, the builder again applied to give back 4.5 lakh sq m of land. The Authority then took possession of the land. The surrender was formalised between the Wave Builder and the authority about three months ago.

The Noida Authority will divide the entire land into nine plots. The Authority plans to sell the land in small parcels as it will be difficult to sell 4.5 lakh sq m of commercial land simultaneously. A revenue of Rs 7,000 crore is expected with the successful execution of the plan. Wave Group has termed Noida Authority’s action “illegal”.

Image Source

Also read: Ikea to launch its first mall in India

Building Material

23 Oct 2025

Tata Steel, Air Water India Ink 20-Year Deal for Jamshedpur ASU

Tata Steel has signed a 20-year agreement with Air Water India Private Limited (AWIPL) to operate and maintain its advanced Air Separation Unit (ASU) in Jamshedpur. The partnership aims to boost Tata Steel’s industrial gas infrastructure and improve efficiency through the use of cutting-edge cryogenic technologies. The agreement was signed between Peeyush Gupta, Vice President (TQM, GSP & SC), Tata Steel, and Kausik Mukhopadhyay, Managing Director, AWIPL. Under the contract, AWIPL will manage operations of the ASU, which can produce 1,800 tonnes of oxygen per day, along with nitrogen, argon..

PM Modi Inaugurates and Lays Foundation for Projects in Andhra Pradesh

Prime Minister Narendra Modi inaugurated and laid the foundation stones for multiple projects worth Rs 134.3 billion in Andhra Pradesh. The initiatives span key sectors including infrastructure, energy, and urban development, aimed at boosting regional growth and job creation.In Visakhapatnam, the Prime Minister dedicated several completed infrastructure projects to the nation, while in Nandyal and West Godavari, he laid foundations for renewable energy and water resource developments. These projects align with the government’s focus on improving connectivity, expanding industrial potential,..

MSRDC to Monetise Land Assets to Finance Key Infrastructure Projects

The Maharashtra State Road Development Corporation (MSRDC), led by Chief Minister Eknath Shinde, plans to monetise its land holdings to fund future infrastructure projects. The Corporation intends to lease land parcels for up to 99 years, with some earmarked for joint development or sale.MSRDC has been designated as the special planning authority for several strategic regions, including 19 growth centres along the Mumbai–Goa Expressway, 18 nodes on the Samruddhi Mahamarg, and development zones near the Pune Outer Ring Road, Shaktipeeth Highway, and Mumbai–Pune Expressway.The agency is prio..