Noida: Expanding Amrapali projects, sales to fund completion

01 Dec 2023 CW Team

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.

Real Estate

05 Sep 2025

Vitizen Hotels Signs Deal at Manyata Tech Park

Vikram Kamats Hospitality, as part of its ongoing expansion in key metropolitan markets, announced that its material subsidiary, Vitizen Hotels, has signed a long-term lease agreement for a 45-key hotel property at Manyata Tech Park, Bengaluru.Strategically located in the city’s prominent IT hub, the property is well-positioned to serve corporate travelers, business professionals, and long-stay guests. The addition aligns with the company’s asset-light growth model, leveraging long-term leases to expand its footprint in high-demand urban markets.The hotel is expected to strengthen the comp..

CONCOR Signs MoU with BPIPL to Operate Container Terminal at Bhavnagar Port

Container Corporation of India (CONCOR) has signed a Memorandum of Understanding (MoU) with Bhavnagar Port Infrastructure (BPIPL) on September 4, 2025, in New Delhi to operate and maintain the upcoming container terminal at the northside of Bhavnagar Port, Gujarat.BPIPL had earlier entered into an agreement with the Gujarat Maritime Board (GMB) in September 2024 for the port’s development. Under this arrangement, 235 hectares of land has been leased to BPIPL for 30 years, with provision for expansion by an additional 250 hectares.The new terminal is expected to significantly enhance logistic..

Concord Launches India’s First Indigenous Zero-Emission Rail Propulsion

Concord Control Systems (CCSL), a leader in embedded electronics and critical rail technologies, has announced the development of India’s first fully indigenous zero-emission propulsion system, marking a significant step toward the country’s railway electrification and net-zero goals for 2030.Powered by Lithium Iron Phosphate (LFP) batteries and featuring a DC chopper-based drive, the propulsion system eliminates idling losses common in diesel engines, offering higher efficiency, lower costs, and zero emissions.What sets this innovation apart is its completely indigenous design. Except for..