Noida developers face Rs.1,035 crore dues

09 Oct 2024 CW Team

Noida's development authorities are preparing to write to the Enforcement Directorate (EOW) regarding seven developers who have yet to clear outstanding dues totaling Rs.1,035 crore. This financial non-compliance raises concerns about project delays and the overall impact on urban infrastructure development in the region.

The developers in question have been involved in various housing and infrastructure projects, and their failure to settle these dues could impede progress and completion timelines. The Noida Authority is committed to ensuring accountability and transparency in the real estate sector, which is crucial for maintaining trust among homebuyers and stakeholders.

By involving the EOW, the Noida Authority aims to address potential irregularities in financial practices and enforce compliance with regulations governing the construction industry. This move reflects a broader effort to hold developers accountable for their financial obligations and to protect the interests of residents awaiting project completion.

The outstanding dues not only hinder the development of essential urban infrastructure but also pose challenges for Noida's real estate market, potentially affecting property values and investor confidence. The government's action underscores the importance of financial responsibility within the construction sector and aims to ensure that developers meet their commitments.

As the situation unfolds, it is expected that the Noida Authority will take necessary measures to expedite the resolution of these outstanding dues, fostering a more sustainable and transparent urban development landscape. Ensuring financial compliance is vital for the growth and stability of Noida's urban infrastructure projects and the overall real estate environment in the region.

Infrastructure Transport

16 Sep 2025

Metro Line 2B Phase 1 to Boost Realty in Mumbai’s Eastern Suburbs

Mumbai’s real estate sector is set for a major boost as Phase 1 of Metro Line 2B, between Mandale and Diamond Garden, nears completion. The Mumbai Metropolitan Region Development Authority (MMRDA) has confirmed that mandatory rectifications are done, and inspections by the Commissioner of Metro Railway Safety (CMRS) have been carried out. The 5.39-km stretch with five stations forms part of the larger DN Nagar–Mandale corridor, designed to ease congestion and improve east–west connectivity. Passenger operations are expected by December 2025, with the full line slated for 2027. ..

WattPower wins Best Inverter award at Global Solar Expo 2025

WattPower, a leading renewable energy solutions provider, has won the award for “Best Inverter in the Utility Segment” at the Global Solar Expo 2025. The recognition underscores the company’s commitment to delivering reliable, high-performance and future-ready solar solutions for large-scale projects. At the forefront of utility-scale solar, WattPower manufactures advanced string inverters that directly feed power into the Indian grid. With robust technology, high-quality components and comprehensive product lifecycle support, its solutions stand among the most sophisticated in the ..

Awfis delivers 67,000 sq. ft. innovation hub for eBay in Bengaluru

Awfis Space Solutions, India’s largest flexible workspace provider and the first publicly listed workspace solutions platform, has partnered with eBay to establish a 67,000 sq. ft. innovation hub at Embassy Tech Village, Bengaluru. The mandate covers design, build and management of the new office, which will act as a strategic hub supporting diverse functions and accelerating eBay’s AI-first commerce strategy. The centre will focus on artificial intelligence, engineering, product development and applied research, strengthening eBay’s growth in India. Embassy Tech Village, North Beng..