The Noida Authority has officially removed the restrictions that had suspended all projects in Sports City, located in Sector 150 of Noida, for the past five years, providing significant relief to nearly 20,000 homebuyers.<\/p>\n
Earlier this January, following a Supreme Court directive, the Noida Authority reinstated the issuance of occupancy certificates, along with the registration, sale, and purchase of completed projects in Sports City, situated along the Noida-Greater Noida Expressway. The Supreme Court’s ruling on November 24 of the previous year authorized a revival plan for the Sports City project by Lotus Green Constructions, allowing construction activities to recommence after a three-year hiatus.<\/p>\n
Prominent developers, including Tata Projects, Godrej Properties, Prestige Group, County Group, Lotus Greens, and El Deco, have established projects within Sports City, which spans a considerable area in Sector 150, situated at the edge of Noida adjacent to Greater Noida. This sector gained attention in January when a tragic incident occurred, resulting in the death of Yuvraj Mehta, a 27-year-old software engineer, whose vehicle fell into a deep construction pit during the night.<\/p>\n
The ambitious Sports City initiative involves an investment exceeding Rs 50,000 crore and directly affects around 20,000 families. Real estate analysts suggest that the decision to lift the construction ban will positively influence the overall real estate market in Noida.<\/p>\n
Annu Khan, a property broker based in Noida, remarked, \u201cThis decision should have been made earlier, as it would have provided much-needed relief to both developers and homebuyers.\u201d<\/p>\n
The Sports City decision was part of several significant resolutions made during the 222nd Board Meeting of the Noida Authority, chaired by Deepak Kumar, the Infrastructure and Industrial Development Commissioner of Uttar Pradesh, on Monday.<\/p>\n
During this meeting, a financial target of Rs 10,290.76 crore in total receipts and Rs 10,004.58 crore in total payments was established for the current fiscal year. In the previous fiscal year (2025-26), the Authority achieved Rs 6,589.35 crore against a receipts target of Rs 9,008.26 crore. Additionally, the Board allocated Rs 107.77 crore for maintenance and repair work at the Rashtriya Dalit Prerna Sthal (National Dalit Inspiration Site and Green Garden) located in Sector 95 of Noida.<\/p>\n
In recognition of Noida’s location in Seismic Zone-4, the Board approved funding of Rs 154.42 crore for the procurement and construction of vehicles, machinery, and equipment for fire stations throughout the district, as well as for earthquake rescue operations in high-rise buildings.<\/p>\n
The Board also sanctioned a conversion charge framework to facilitate mixed land use in both residential and industrial plots. Under this framework, owners of residential plots will be liable for 50% of the difference between commercial and residential allotment rates, while industrial plot owners will pay a one-time fee of 25% of the difference between commercial and industrial rates.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Noida Authority has officially removed the restrictions that had suspended all projects in Sports City, located in Sector 150 of Noida, for the past five years, providing significant relief to nearly 20,000 homebuyers. Earlier this January, following a Supreme Court directive, the Noida Authority reinstated the issuance of occupancy certificates, along with the registration, […]<\/p>\n","protected":false},"author":2,"featured_media":4220,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[78,498,40],"tags":[],"class_list":["post-4221","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-in-cities","category-in-delhi","category-india"],"yoast_head":"\n