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New Delhi: <keyword id="23094102" type="General" weightage="100" keywordseo="Ingka-Centres" source="keywords" meta.keywordsubtype="org" meta.entityname="Ingka Centres" meta.hostid="261" meta.entityid="Ingka Centres">Ingka Centres</keyword>, a part of Ingka Group that operates <keyword id="19948265" type="General" weightage="20" keywordseo="IKEA" source="keywords" meta.keywordsubtype="org" meta.entityname="IKEA" meta.hostid="261" meta.entityid="IKEA">IKEA</keyword> retail, will invest 607 million euros (about Rs 5,500 crore) to set up its second meeting place in India at <keyword id="19895934" type="General" weightage="20" keywordseo="Noida" source="keywords">Noida</keyword> under the <keyword id="23094103" type="General" weightage="20" keywordseo="Lykli" source="keywords" meta.keywordsubtype="org" meta.entityname="Lykli" meta.hostid="261" meta.entityid="Lykli">Lykli</keyword> brand, taking its overall <keyword id="19895437" type="General" weightage="20" keywordseo="investment" source="keywords">investment</keyword> in the country to a 1 billion euros, according to the company's Global Expansion &amp; Development Director Sebastian Hylving. It is betting big on the Indian market and is looking at expanding where IKEA plans to open its outlets in the country, although the opening of its first meeting place in Gurugram -- Lykli Gurugram -- has been pushed to 2026 from the originally planned opening in late 2025. The company on Monday unveiled the second IKEA-anchored meeting place in India at Noida which will offer a blend of retail, dining, hospitality, co-working spaces, entertainment, and cultural experiences tailored to the needs of modern urban residents. "It (Lykli Noida) is at an investment of 607 million euro...that investment is purely for the Noida project, and then we have an investment for GMP (Gurugram meeting place) as well. So I think it's around 1 billion (euro) in total for the two first projects and we don't see that it will stop with these two centres," Hylving told PTI in an interview. Last year the company had announced that it planned to open the first meeting place, Lykli Gurugram -- where it is investing 400 million euros (around Rs 3,500 crore), in late 2025. On the timeline for the opening of Lykli Gurugram, he said, "We had an intention (for late 2025). When you start up a project at an early stage, you set the target but once you get closer to understanding the full process, then you see what is achievable. So, 2026 is what we're talking for the opening of Lykli Gurugram." Elaborating further on the roadmap for Ingka Centres in India, he said, "We are looking for more opportunities, both brownfield and greenfield opportunities...We follow IKEA's expansion..." India is among the top three markets globally for IKEA and it will continue to be. There are big opportunities in India -- a big country with a lot of positive signals in terms of market growth, high education level, good qualified people, demographics is shifting in the right direction, he added. "We are looking at the locations where IKEA is now looking for opportunities. Sometimes it's possible, sometimes it's not. The cities that IKEA are looking at expanding, that is also cities that are on our map. If we can find a way together, then that's our preferred approach forward," Hylving said. On Lykli Noida, he said it will create 9,000 jobs and it will be Ingka Centres' first meeting place in the world with a hotel as part of the mixed-use development. "We're looking at opening in 2028," he said adding Lykli Noida will have around 240 partners, a hotel with 267 keys and two office towers. It is expected to attract more than 25 million visitors, Ingka Centres said. Ingka Centres offers shopping places, office space, food and beverage outlets and social activities collaborating with the local community. It works with over 3,000 brands across its portfolio of 35 meeting places in 13 markets globally. <keyword id="20385220" type="General" weightage="20" keywordseo="IKEA-India" source="keywords" meta.keywordsubtype="org" meta.entityname="IKEA India" meta.hostid="261" meta.entityid="IKEA India">IKEA India</keyword> CEO and Chief Sustainability Officer Susanne Pulverer said,"IKEA has a long-term commitment to Delhi NCR to create a positive impact on the local economy through our business. The unveiling of Lykli Noida is a major milestone in our India growth journey." Together with Ingka Centres, IKEA will become a strong contributor to increase the overall home furnishing market and bring a unique retail experience, she added. Uttar Pradesh Chief Minister Yogi Adityanath said the unveiling of Lykli in Noida marks a significant step forward in the development of the state as a hub of modern urban living. "The project not only reflects the growth and development of Noida but also aligns with our vision of creating sustainable, community-focused spaces across the state," he added.

Ingka Centres to invest Rs 5,500 crore in India on second meeting place at Noida

Even in this age of jet travel and space tourism, highways hold an irresistible charm for travellers out to have an up, close and personal experience of the wide roads stretching ahead for miles, uninterrupted views of a breathtaking landscape, the occasional flyways and the not-so-familiar villages and towns rushing by. It’s even better than chugging along the countryside in a train. You can stop any time you want – to sample some chatpati chaat and a steaming cuppa of chai at a roadside dhaba; to talk to people; to take a dekko at local interests or simply laze an hour or two in shine or rain with the greens around you and the fresh smell of soil floating in the air. 
 
Now that our <a href="http://www.businessinsider.in/Chugging-Up-7-Mesmerising-Mountain-Train-RidesIn-India/articleshow/24288850.cms">train series</a> is over (but we promise to bring you more as soon as new and exotic routes come up), we are back with a more exciting roadmap of <keyword id="168020" type="UNKNOWN" weightage="100" keywordseo="expressways">expressways</keyword> that criss-cross the entire country, connecting the four metros and many of the Tier I cities, and going much beyond the urban landscape. Infrastructure development in India has undergone a sea change over the past few years and the country currently boasts the <keyword id="2034191" type="UNKNOWN" weightage="100" keywordseo="Second-largest-road-network">second largest road network</keyword> in the world, with a road length of over 4,689,842 km, as per 2013 data from the <keyword id="6404450" type="ORGANIZATION" weightage="100" keywordseo="Ministry-of-Road-Transport-and-Highways">Ministry of Road Transport and Highways</keyword>. 
 Starting from FY2012-13, the <keyword id="44734" type="ORGANIZATION" weightage="80" keywordseo="Indian-Government">Indian government</keyword> will be also putting $17 billion over the next five years, being sourced through public-private partnership (<keyword id="6361580" type="COMPANY" weightage="100" keywordseo="PPP">PPP</keyword>) road projects. This will be used by the <keyword id="87432" type="ORGANIZATION" weightage="100" keywordseo="National-Highways-Authority-of-India">National Highways Authority of India</keyword> (<keyword id="49448" type="ORGANIZATION" weightage="100" keywordseo="nhai">NHAI</keyword>) for the planned series of <keyword id="174913" type="ORGANIZATION" weightage="100" keywordseo="BOT">BOT</keyword> (build, operate and transfer) highways. In spite of several bottlenecks, the NHAI has set up impressive targets and aims to develop 20 km/day, in a bid to fast-track the country’s <keyword id="2034194" type="UNKNOWN" weightage="100" keywordseo="Road-network-expansion">road network expansion</keyword>. 
 As of July 2013, <keyword id="6373156" type="ORGANIZATION" weightage="100" keywordseo="National-Highways">national highways</keyword> account for 79,116 km, connecting all major cities and state capitals. Expressways, however, differ a bit in the sense they are controlled-access highways like the <keyword id="610047" type="UNKNOWN" weightage="100" keywordseo="freeways">freeways</keyword> or <keyword id="1333990" type="UNKNOWN" weightage="100" keywordseo="motorways">motorways</keyword> or autobahnen in the US and Europe, essentially designed for high-speed traffic. As of now, most of the expressways in India are 6-8 lane <keyword id="120837" type="UNKNOWN" weightage="100" keywordseo="toll-roads">toll roads</keyword> and cover a total distance of nearly 1,208.19 km. India expects to add another 3,530 km of expressways by 2014 as projects under construction get completed. Another massive programme is also under way to expand the network and the Indian government plans to add an additional 18,637 km of expressways by 2022. 
 So are you ready to emerge on another breath-taking <keyword id="6374782" type="UNKNOWN" weightage="80" keywordseo="journey">journey</keyword> with us, literally a journey of thousand miles and more? We will bring you the super expressways zone-wise – so that you know which route to choose when travelling North or South, East or West. And it will be a beautiful journey as art and cultural critic <keyword id="2034192" type="UNKNOWN" weightage="60" keywordseo="Dave-Hickey">Dave Hickey</keyword> so rightly said – Beauty is and always will be blue skies and open highway. 
 
Image: Wikimedia Commons

8 Super Expressways
In North India That Fulfil Your Need For Speed

<ul><li><keyword id="107877" type="General" weightage="50" keywordseo="samsung-india" source="Orion">Samsung India</keyword> R&amp;D institute in <keyword id="18858" type="General" weightage="80" keywordseo="noida" source="Orion">Noida</keyword> has contributed significantly in areas like user experience, health features, and more for the newly-launched Galaxy S23 series.</li><li>Samsung R&amp;D Institute Noida (SRI-N) is among the three such R&amp;D centres in <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword>.</li></ul>Samsung India on Wednesday said that engineers at its R&amp;D institute in Noida have contributed significantly in areas like user experience, health features, performance improvement and user safety for the newly-launched Galaxy S23 series. Samsung R&amp;D Institute Noida (SRI-N) is among the three such R&amp;D centres in India (the other two are in Bengaluru and Delhi), developing advanced solutions to suit global and local market needs with expertise in the commercialisation of products. According to the company, SRI-N closely collaborated with teams in Korea and made contributions in breakthrough innovations in the new Galaxy S23 series. "SRI-N is developing innovative and intuitive mobile experiences that empower, educate and enrich the lives of our customers. Our responsibility to provide innovative technology to our customers has deepened," said KY Roo, MD of Samsung R&amp;D Institute in Noida. "With our domain expertise and skill sets, SRI-N is constantly developing innovative products that attract consumers and also shape the future of technology," he added. The 'Galaxy to Share' app has been developed to allow users to share all customisations and own personalization settings across Galaxy devices in the country. Similarly, the multi-timer feature enables the user to simultaneously have multiple timers, all at the same time, for different activities and tasks. The 'Bedtime Alarm' feature is also more robust, allowing users to customize alarm timings day-wise. To enhance communication, the 'Direct Dial 4X1' widget has been added to the S23 home screen, for easy accessibility of priority contacts and dial them at a single touch. SRI-N developed these apps and features to provide the most seamless and intuitive experience to customers while providing a wide scope for customisation, said the company. SRI-N engineers also contributed towards the improvements in the <keyword id="7596409" type="General" weightage="50" keywordseo="samsung-health" source="Orion">Samsung Health</keyword> trackers like <keyword id="16613827" type="General" weightage="20" keywordseo="water-body" source="Orion">Water, Body</keyword> composition, Cycle tracking, and Heart rate. Engineers at SRI-N also developed the Emergency SOS and Emergency Sharing feature to enable users to send help messages with their own location information and video recording during an emergency, just by pressing the power button three times. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/google-chrome-rolls-out-memory-and-energy-saver-modes-heres-how-you-can-use-it/articleshow/98118135.cms">Google Chrome rolls out Memory and Energy Saver modes: Here’s how you can use it</a> <a href="https://www.businessinsider.in/tech/news/oneplus-11-concept-video-reveals-a-large-camera-and-a-rear-panel-that-lights-up/articleshow/98112845.cms">OnePlus 11 Concept video reveals a large camera and a rear panel that lights up</a>

Samsung R&D Institute in Noida creates key innovations for Galaxy S23 series

New Delhi, Jun 10 () Reeling under slowdown and impact of Covid-19 induced lockdown, the real estate companies in Noida and Greater Noida areas got the much needed relief as the Supreme Court on Wednesday capped the rate of interest at eight per cent to be charged by authorities on the outstanding dues of land against the exorbitant 15 to 23 per cent. The top court said considering the current state of real estate sector, the projects have come to a standstill and the sector needs to be given impetus mainly considering plight of home buyers. A bench of Justices Arun Mishra and U U Lalit directed the Noida and Greater Noida authorities to restructure the dues of real estate firms considering the current state of sector as out of the 114 plots given in 2005, most of the projects are incomplete. "We direct that rate of interest on the outstanding premium and other dues to be realized in all such cases at the rate of 8 per cent per annum and let the Noida and Greater Noida Authorities do a restructuring of the repayment schedule so that amount is paid and Noida and Greater Noida Authorities are able to realize the same," the bench said. The top court said that in case of failure to pay the outstanding amount, the concession granted shall stand withdrawn but at the same time, the Noida and Greater Noida authorities shall also ensure that not only instalments/money are deposited and all such projects are completed within the stipulated time. "We have noted in the judgment dated July 23, 2019 the figure given by the Noida and Greater Noida authorities that after 2005, 114 plots had been allotted to various group housing societies. 81 plots were handed over the possession on payment of 10 per cent of the total premium. 29 projects, out of 81 were completed. Out of the other 33 allotted earlier, 11 were completed, and 7 obtained part-completion certificates. Thus, it is apparent that more than 60 per cent of projects have not been able to come up so far," the bench said. It said that a large number of home buyers have been waiting now approximately for the last eight to ten years or more for completion of houses and it is not in dispute that the real estate sector has suffered a setback at present. "It contributes to the GDP of the country. As a large number of projects have not come up, at the same time, Noida and Greater Noida Authorities have not been able to realize their dues from such projects which are being piled up for the last several years, at the same time interest of home buyers has intervened. Even on the plots where the land was allotted from 2005 onwards, the projects have not been completed so far, though the buyers have paid their money," it said. The top court said that constructions have not been completed due to various reasons including due to diversion of funds and there was a failure to comply with the obligation to the home buyers whose money has been invested in the partially constructed structure and partial dues have been paid to the Noida and Greater Noida Authorities. "It cannot be disputed that the rate of interest, on which agreements were entered into, has gone down by now. The present lending rate is much below and the RBI has taken several steps to revive the economy. In such a scenario, it would never be possible to make payment of interest at the rate fixed by authorities and also a penal interest to be realized by concerned authorities. The home buyers are not able to obtain fruits of the investment and are deprived of legal title of the flats," it said. The top court's order came on a plea of Ace Group of Companies seeking waiver of the interest component from the dues towards authorities on the ground that precarious conditions are being faced by the real estate companies in the entire Noida and Greater Noida region. It said that the interest rates of the Noida and Greater Noida authorities have remained exorbitant contrary to the prevailing economic situation of the country and the penal interest on delayed payment is also added. The company said that the interest rates of the authorities have been increased from 11 per cent to 14 per cent – 15 per cent to 18 per cent–23 per cent per annum. It said that following the economic recession in the last decade, the entire real estate sector has gone downwards and facing acute financial crunch and is fighting for its survival. It said that the Covid-19 induced lockdown has further aggravated the situation and "there have been absolutely no business and commercial activities in this sector, and the entire real estate industry has come to a grinding halt causing further financial losses and damages to the real estate sector, which is generally in a precarious condition in the Delhi/ NCR region". The real estate company pointed out that various firms have stopped production of the construction/ building material in the wake of lockdown and most of the labourers have gone back to their home States resulting in shortage of labourers. "Due to excessive lease rent, penalty and interest charged and levied, additional land costs demanded, and charged on the land allotted, various projects are stalled. Most of the projects have acquired the status of dormant projects," the company argued. MNL ABA SJK MNL RKS RKS

You Searched For "Delhi Noida Direct Flyway" and got 4 results

Ingka Centres to invest Rs 5,500 crore in India on second meeting place at Noida

PTI

8 Super Expressways In North India That Fulfil Your Need For Speed

Sanghamitra Mandal

Samsung R&D Institute in Noida creates key innovations for Galaxy S23 series

IANS

Facing slump due to Covid-19 lockdown, SC gives breather to real estate firms in Noida & Gr Noida

PTI

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