Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul><li><keyword id="6354427" type="General" weightage="100" keywordseo="apple" source="Orion">Apple</keyword> suppliers have applied for land with the authority, with a proposed investment of ₹2,800 crore.</li><li>YEIDA CEO <keyword id="13375044" type="General" weightage="50" keywordseo="arun-vir" source="Orion">Arun Vir</keyword> Singh told IANS that these companies have already deposited 10 per cent of the proposed allocation for land.</li></ul>With Apple eyeing to ramp up manufacturing in <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword> amid Covid-related supply chain issues in China, the <keyword id="80359" type="General" weightage="50" keywordseo="yamuna-expressway-industrial-development-authority" source="Orion">Yamuna Expressway Industrial Development Authority</keyword> (YEIDA) said on Wednesday that some of Apple suppliers have applied for land with the authority, with a proposed investment of Rs 2,800 crore while generating thousands of jobs. YEIDA CEO Arun Vir Singh told IANS that these companies have already deposited 10 per cent of the proposed allocation for land in Sector 29 under the <keyword id="766731" type="General" weightage="50" keywordseo="yamuna-authority" source="Orion">Yamuna Authority</keyword> near the upcoming Jewar airport in Greater Noida. "Seiko Advance Limited, an ink manufacturing company, expressed its desire to make its product on 5 acres of land in Sector 29 of YEIDA," Singh informed. Seiko Advance Limited alone will invest Rs 850 crore and provide employment to thousands of people, he added. Sector 29 is well-developed with several available facilities for companies. The Apple suppliers, along with a known camera parts maker, proposed to set up a unit on about 23 acres of land with a proposed investment of Rs 2,800 crore. Singh told IANS that Apple suppliers proposed the investment at a recently-held meeting in South Korea. Seiko Advance creates ink for devices like the iPhones. Apple CEO Tim Cook had visited the company in 2019, when he had said that the 'Midnight Green' colour dye was "only made by high-quality control and craftsmanship" at its plant. Meanwhile, Apple is fast forwarding its manufacturing plans in India and Vietnam in the wake of unrest in China over zero-Covid policy which has severely disrupted its supply chain, leading to an acute shortage of new iPhone 14 Pro models. The Wall Street Journal had earlier reported that the company is "telling its suppliers to plan more actively for assembling Apple products elsewhere in Asia, particularly in India and Vietnam" in order to "reduce dependence on Taiwanese assemblers led by Foxconn". The China upheaval, which hit its key supplier Foxconn's Zhengzhou factory last month, resulting in violent protests, means "Apple no longer feels comfortable having so much of its business tied up in one place", the report said, citing analysts and people in the Apple supply chain. Apple aims to ship 40-45 per cent of iPhones from India compared to a single-digit percentage currently, according to analyst Ming-chi Kuo. Every fourth iPhone will be made in India by 2025, according to J.P. Morgan. In a fillip to India's thrust on local manufacturing, Apple had earlier this year kicked off production of new iPhone 14 in India, a first for the tech giant as it narrows down the manufacturing period of new iPhones in the country to cut dependence on China. Buoyed by the ease-of-doing business and friendly local manufacturing policies, Apple's 'Make in India' iPhones will potentially account for close to 85 per cent of its total iPhone production for the country this year, according to industry experts. Apple first started manufacturing iPhones in India in 2017, with iPhone SE. The tech giant manufactures some of its most advanced iPhones in the country, including iPhone 11, iPhone 12 and iPhone 13 at the Foxconn facility, while iPhone SE and iPhone 12 are being assembled at the Wistron factory in the country. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/google-for-india-goes-heavy-on-ai-from-reading-handwritten-prescriptions-to-enhancing-agricultural-capabilities-heres-all-you-need-to-know/articleshow/96362495.cms">Google for India goes heavy on AI — From reading handwritten prescriptions to enhancing agricultural capabilities, here’s all you need to know</a> <a href="https://www.businessinsider.in/tech/gadgets/news/upcoming-new-games-in-2023/articleshow/95999256.cms">Top upcoming games in 2023: Here’s what PC, PlayStation, and Xbox users should expect</a>

Apple suppliers to invest ₹2,800 cr in UP as iPhone maker to move more manufacturing to India

<keyword id="80359" type="General" weightage="80" keywordseo="yamuna-expressway-industrial-development-authority" source="Orion">Yamuna Expressway Industrial Development Authority</keyword> (YEIDA) has cancelled the land allotment of 14 group housing projects for violation of terms and conditions of lease deed and non-payment of dues. The authority has also forfeited an amount of more than Rs 209 crore of the developers, to whom a total of more than 15.25 lakh sqm of land was allotted. According to the information received, the group housing land allocation of two developers in 2019, three in 2021 and nine in 2022 have been cancelled, whereas no allotment was cancelled in 2020 due to the Covid pandemic. Of the cancelled plots, 10 are situated in Sector 22D, two in Sector 18 and one each in Sectors 22A and 26A. The cancelled projects are, namely Three Sea Residency Pvt Ltd, Sukriti Infracom Pvt Ltd, Emerald Promoters Pvt Ltd, Cosmic Infradevelopers Pvt Ltd, <keyword id="15245666" type="General" weightage="80" keywordseo="three-sea-homes-pvt-ltd" source="Orion">Three Sea Homes Pvt Ltd</keyword>, UG Infrastructure Pvt Ltd, Trivalli Project Pvt Ltd, Sunwhite Infratech, <keyword id="15245665" type="General" weightage="80" keywordseo="pratham-real-venture" source="Orion">Pratham Real Venture</keyword>, <keyword id="15245664" type="General" weightage="80" keywordseo="growth-infradevelopers-pvt-ltd" source="Orion">Growth Infradevelopers Pvt Ltd</keyword>, <keyword id="15245663" type="General" weightage="80" keywordseo="ajnara-india-pvt-ltd" source="Orion">Ajnara India Pvt Ltd</keyword>, Silverline Furnishing &amp; Furniture Pvt , SDS Housing Pvt Ltd and Infracity Pvt. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/it-cos-go-slow-on-hiring-despite-high-attrition-rates-hiring-down-57-in-q2/articleshow/94832706.cms">IT cos go slow on hiring despite high attrition rates, hiring down 57% in Q2</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/elon-musk-jokes-he-is-selling-perfumes-to-fund-twitter-acquisition/articleshow/94832660.cms">Elon Musk jokes he is selling ‘Burnt Hair’ perfumes to fund Twitter acquisition, changes bio to “Perfume Salesman” as sales cross 20,000</a>

YEIDA cancels allotment of 14 group housing projects due to non-payment of dues

The <keyword id="6357713" type="COMPANY" weightage="20" keywordseo="Uttar-Pradesh">Uttar Pradesh</keyword> government has approved yoga guru Ramdev-promoted <keyword id="6356684" type="UNKNOWN" weightage="100" keywordseo="patanjali">Patanjali</keyword> Ayurveda's (PAL) Rs 2,000 crore food park in <keyword id="6356788" type="COMPANY" weightage="20" keywordseo="Greater-Noida">Greater Noida</keyword> and around 450 acres of land on the <keyword id="6359591" type="COMPANY" weightage="20" keywordseo="Yamuna-Expressway">Yamuna Expressway</keyword> will be allocated for the unit, according to a news by the agency. 
 "Earlier this week, the <keyword id="512165" type="UNKNOWN" weightage="20" keywordseo="Uttar-Pradesh-cabinet">Uttar Pradesh Cabinet</keyword> has approved PAL's Rs 2,000-crore project in the state, which includes an agro-processing plant entailing an investment of Rs 1,500 crore in Greater Noida," a source privy to development said. 
 
"Around 450 acres of land have been identified, which will be allocated to the Greater Noida plant. The land will be bought by PAL." 
 The state <keyword id="6355513" type="ORGANIZATION" weightage="20" keywordseo="cabinet">Cabinet</keyword> approval comes amid speculation that Patanjali will announce its investment in Uttar Pradesh after assembly polls in March next year. However, the Uttar Pradesh government has been proactive in facilitating this investment on its terms only to encourage investors and create jobs. 
 
Earlier, the company officials had confirmed the development, saying the procedure for identification of the land is at an advanced stage and the unit can be near the Yamuna Expressway. 
 
The Greater Noida plant will be an international food park that will cater to overseas and domestic markets as well. 
 Patanjali CEO Acharya Balkrishna has held a series of meetings with CEO of the <keyword id="80359" type="COMPANY" weightage="20" keywordseo="Yamuna-Expressway-Industrial-Development-Authority">Yamuna Expressway Industrial Development Authority</keyword> (YEIDA) in this regard. After the land allotment, the unit can be made operational in 12-18 months. 
 The food park in Greater Noida is slated to manufacture all major products. It is expected to act as a hub given its location in the <keyword id="53426" type="CITY" weightage="20" keywordseo="NCR">NCR</keyword> region, which has proximity to the airport and dry ports. 
 
The plant, at full capacity, will produce goods worth Rs 25,000 crore annually. It is expected to generate around 10,000 direct jobs that can benefit nearly 50,000 families. 
 Patanjali is also in the process of setting up units in <keyword id="6355554" type="COMPANY" weightage="20" keywordseo="Madhya-Pradesh">Madhya Pradesh</keyword>, <keyword id="6354915" type="CITY" weightage="20" keywordseo="Assam">Assam</keyword>, Maharashtra and <keyword id="6357972" type="COMPANY" weightage="20" keywordseo="Jammu">Jammu</keyword> and Kashmir.

Patanjali’s Rs 2000 Cr food
park coming up in Greater Noida

<keyword id="6406649" type="COMPANY" weightage="20" keywordseo="Patanjali-Ayurved">Patanjali Ayurved</keyword>, promoted by yoga guru <keyword id="6369109" type="PERSON" weightage="20" keywordseo="Ramdev">Ramdev</keyword>, may announce an investment of Rs 1,600 crore shortly for setting up a herbal food park in Noida in the poll-bound <keyword id="6357713" type="COMPANY" weightage="20" keywordseo="Uttar-Pradesh">Uttar Pradesh</keyword> to meet its domestic as well as global demand. 
 "It is almost finalised now. You may see an announcement by <keyword id="6356684" type="UNKNOWN" weightage="100" keywordseo="patanjali">Patanjali</keyword> Ayurved for an investment of around Rs 1,600 crore in Noida for setting up a food processing plant around <keyword id="188" type="ENTERTAINMENT" weightage="20" keywordseo="Diwali">Diwali</keyword>," a senior UP government official privy to the development told <keyword id="6367495" type="COMPANY" weightage="20" keywordseo="PTI">PTI</keyword>. 
 
"As far as investments in the state are concerned, the Uttar Pradesh government is fair and transparent for promoting industrialisation which will create jobs." 
 
There were speculations that Patanjali will announce its investment in Uttar Pradesh after the assembly polls in March next year. However, the company officials have also confirmed the development, saying the procedure for identification of the land is at an advanced stage and the unit can be near <keyword id="6359591" type="COMPANY" weightage="20" keywordseo="Yamuna-Expressway">Yamuna expressway</keyword>. 
 
A Patanjali Ayurved official told the news agency, "It would be an international food park, which would be for exports and domestic markets as well." 
 He further said Patanjali CEO <keyword id="669583" type="UNKNOWN" weightage="20" keywordseo="Acharya-Balkrishna">Acharya Balkrishna</keyword> has held meetings with the CEO of <keyword id="80359" type="COMPANY" weightage="20" keywordseo="Yamuna-Expressway-Industrial-Development-Authority">Yamuna Expressway Industrial Development Authority</keyword> (YEIDA) in this regard. 
 
"The state bureaucracy is also involved in this project under the instructions of the chief minister of UP. It would be a major investment boost for UP and employment generation," he added. 
 
Asked how soon Patanjali could start manufacturing at the proposed plant, the official said: "We would make the unit operational within 12-18 months of allotment of land." 
 He added: "The food park will manufacture all major products. As it is located in the <keyword id="53426" type="CITY" weightage="20" keywordseo="NCR">NCR</keyword> region, which has proximity to the airport and dry ports, it will act as a hub." 
 
When the plant runs to its full capacity, it would have a capacity to produce goods worth Rs 25,000 crore annually, the official claimed, adding that around 10,000 direct jobs could be provided benefiting 50,000 families. 
 Patanjali is also in the process of setting units in <keyword id="6355554" type="COMPANY" weightage="20" keywordseo="Madhya-Pradesh">Madhya Pradesh</keyword>, <keyword id="6354915" type="CITY" weightage="20" keywordseo="Assam">Assam</keyword>, Maharashtra and <keyword id="6357972" type="COMPANY" weightage="20" keywordseo="Jammu">Jammu</keyword> and <keyword id="6354495" type="CITY" weightage="20" keywordseo="kashmir">Kashmir</keyword>, besides another plant in the drought-hit area of <keyword id="6368366" type="PERSON" weightage="20" keywordseo="Bundelkhand">Bundelkhand</keyword> region of UP. 
 
"For Bundelkhand regional plant, we are discussing for the special package and incentive with the state government. We are working on that," the company official said.

​ Patanjali’s food park of Rs 1,600 crore would come up at Noida

Local residents got a visual treat after a <keyword id="889685" type="UNKNOWN" weightage="80" keywordseo="Mirage-2000">Mirage 2000</keyword> fighter jet of the Indian Air Force (IAF) landed very briefly on the Yamuna Expressway near Delhi today morning. 
 
The jet, which flew from Gwalior, test-landed on the Expressway as part of a drill for emergency landings on national highways at 6.40 am. 
"The aircraft made a practice approach on the highway, coming down to a height of 100 metres before landing off the next approach," said an IAF statement. 
 
Several IAF personnel were present at the spot. While a makeshift Air Traffic Control was set up, bird-watchers, fire engines and rescue vehicles were on alert. 
 
Officials said the drill was to come out with possible landing strips on the national highway for fighter planes in case of emergencies. 
 
A spokesperson said the test-landing was a capability demonstration and IAF has plans to activate more such stretches on highways in the future. 
 
Meanwhile, the IAF also coordinated with the Uttar Pradesh Government and district officials in cities of Agra and Mathura. 
 
This was first of its kind for defence aviation in the country as in India, very few roads are available for such landings because of traffic, pedestrians and animals. 
 
Here is the video: 
 
 
(Image: Indiatimes, Video: Times Now)

Fighter jet lands on the Expressway to Taj

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

While there are nearly 5.68 lakh houses under various stages of construction in Delhi-NCR, any kind of periodic ban on construction by different agencies can only delay the projects, adding to the woes of the buyers. The maximum number of under-construction units is in <keyword id="18858" type="General" weightage="80" keywordseo="noida" source="Orion">Noida</keyword> and Greater Noida areas, accounting for nearly 2.70 lakh units, as per an estimate. On average, a one-month ban on all construction activity delays a project by at least 3-4 months, according to research by <keyword id="4695749" type="General" weightage="80" keywordseo="anarock" source="Orion">Anarock</keyword> consultants. As per the research, the areas in Delhi-NCR with the maximum under construction units presently include Greater Noida West, Yamuna Expressway, New Gurugram, Noida Expressway, Dwarka Expressway, Central Noida, Sector 150 (Noida), <keyword id="1464478" type="General" weightage="50" keywordseo="greater-faridabad" source="Orion">Greater Faridabad</keyword>, <keyword id="15299315" type="General" weightage="50" keywordseo="raj-nagar-ext" source="Orion">Raj Nagar Ext</keyword> (Ghaziabad), Sohna and Golf Course Ext Road. These areas together have more than 4 lakh units that are currently under various stages of construction. Greater Noida West alone has more than 1.37 lakh under-construction units currently. The air quality in Delhi-<keyword id="53426" type="General" weightage="100" keywordseo="ncr" source="Orion">NCR</keyword> has turned poor and heavy smog has started engulfing the region. This year too, to battle pollution, an action plan has been rolled out in advance, mandating that if the pollution levels breach certain levels (i.e., Stage III or 'severe'), authorities will have to enforce a ban on construction and demolition activities in NCR, except on essential projects (like railways, metros, airports, ISBTs, national security/defence-related projects of national importance). Apart from this, the construction of projects also gets hampered due to protests on the issue of land compensation. The Anarock research said that being periodic, the impact of these construction bans on overall property prices is almost negligible. Moreover, real estate prices in most cities are not so much a function of environmental concerns as of accessibility, proximity to the city centres or major employment hubs, urban mobility via various modes of public transport, and affordability. In Mumbai too, the city perennially experiences floods during monsoon, yet property prices remain steady. In fact, in the last two-and-a-half years since the pandemic, the Mumbai Metropolitan Region (MMR) has been the most active in terms of both new supply and new launches. As for Delhi-NCR, the region too has been very active. While developers restricted new supply, housing sales have been significant. In fact, the region has shed at least 23 per cent of its unsold stock in the last 2.5 years since the pandemic. Back in Q1 2020-end, the overall unsold stock in Delhi-NCR stood at 1.73 lakh units which have reduced to a little over 1.32 lakh units as of Q3 2022-end, said the Anarock research. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/huge-hike-in-airfare-from-delhi-mumbai-to-patna/articleshow/94961347.cms">Huge hike in airfare from Delhi, Mumbai to Patna</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/nissan-x-trail-premium-suv-to-launch-in-india-features-specs-and-everything-you-need-to-know/slidelist/94961171.cms">Nissan X-Trail premium SUV to launch in India – features, specs and everything you need to know</a>

Delhi-NCR: 5.68L houses under construction; periodic bans add to buyers' woes

Noida, Dec 21 () The Yamuna Expressway Authority on Saturday cancelled the allotment of 1,000 hectares of land to Jaypee group on which India's only Formula One motor racing circuit is built in Greater Noida over non-payment of dues, officials said.
 The decision was taken by the Yamuna Expressway Industrial Development Authority (YEIDA) during its 66th Board meeting.
 "A thousand hectare land was allotted to Jaypee Sports Limited, an affiliate of Jaypee group, in YEIDA's special economic zone. Jaypee Sports Limited has been defaulting on payments to YEIDA and not completing projects promised to buyers," YEIDA CEO Arunvir Singh said.
 The embattled business group defaulted on payments of over Rs 500 crore, he added.
 The Jaypee group had sub-leased plots to 11 builders on the allocated land and separately had taken around Rs 2,000 crore from homebuyers in 10 projects but not delivered it, he said.
 "So, in light of the violation of lease deeds, it was decided during the board meeting that the land allotment be cancelled," Singh said.
 However, the authority said modalities are being worked out to safeguard the interests of third parties and homebuyers who had invested in projects on this land parcel. KIS AAR

Jaypee loses 1,000 hectare land that has F1 Circuit

Lucknow, June 30 (IANS) Microsoft India will set up its campus in Uttar Pradesh, giving a major boost to the state's efforts to bring in investments. This will ensure employment to about 4,000 persons in the state. An agreement through a virtual discussion has been reached between Microsoft India managing director, Rajiv Kumar, and UP MSME minister Sidharth Nath Singh. The Microsoft team will soon make a site visit. According to the minister, "The government had earlier said that it will make it simpler for investors willing to acquire land within 1 km distance on each side of the state's expressways. The company has said that they want to move their North India campus to Greater Noida. The next step will be a site inspection by the team both in Greater Noida and along the Yamuna Expressway and this will be followed by their proposal which the state government will examine." The software major currently has two campuses, with capacities of 5,000 and 2,000 each, in its headquarters in Hyderabad and in Bengaluru. Uttar Pradesh, meanwhile, plans to develop an electronics manufacturing park near the Jewar International Airport. --IANS amita/skp/

Microsoft to set up campus in UP soon

New Delhi, Nov 28 () Lenders of <keyword id="6367819" type="ORGANIZATION" weightage="20" keywordseo="jaypee-infratech">Jaypee Infratech</keyword> on Thursday asked state-owned <keyword id="159757" type="COMPANY" weightage="20" keywordseo="NBCC">NBCC</keyword> Ltd to offer more land with clear title and debt-free Yamuna Expressway, while homebuyers want compensation for huge delay in completion of flats, sources said. NBCC and Mumbai-based <keyword id="599049" type="ORGANIZATION" weightage="20" keywordseo="Suraksha-Realty">Suraksha Realty</keyword> are in race to acquire Jaypee Infratech through insolvency proceedings. They submitted fresh bids on November 17 as per direction of the Supreme Court. A meeting of Committee of Creditors (CoC) was held here to negotiate with the two contenders. In the meeting, sources said bankers sought many clarifications from NBCC on its resolution plan and asked it to sweeten the bid.
 To settle an outstanding claim of nearly Rs 9,800 crore to bankers, NBCC has offered 1,426 acre land worth Rs 5,000 crore.
 That apart, it has offered 75 per cent of 858 acre land, which has been pledged by promoter Jaiprakash Associates Ltd and is likely to be transferred back to Jaypee Infratech.
 Moreover, NBCC will share 50 per cent of the sale proceeds of benami or unclaimed flats. From the sale proceeds, receivables from earlier buyers and any expenses related to tax/duties/ legal will be deducted.
 Yamuna Expressway, which connects Noida to Agra, will be transferred to lenders, but before that NBCC has proposed to take Rs 2,500 crore debt against the expressway for completion of over 20,000 flats in the next four years.
 During the meeting, bankers asked NBCC to provide more land with clear title and withdraw its offer related to benami flats and pledged land, the sources said.
 Lenders also asked that the expressway should be transferred to them without any debt obligation, they added.
 The NBCC official told bankers that their demand will be communicated to the top management.
 However, the NBCC official asserted that the public sector has already met all previous demands of lenders made in May, including the increase in land-debt swap deal to 1,426 acre from 950 acre.
 NBCC board could meet tomorrow to discuss the demand and finalise its resolution plan. The deadline for submission of final bid is December 3.
 Homebuyers representative demanded that delay compensation should be paid to home buyers as promised by Jaypee Infratech. The compensation for future delays should be as per realty law RERA.
 Jaypee Infratech, a subsidiary of crisis-hit Jaiprakash Associates, went into insolvency process in August 2017 after the National Company Law Tribunal (NCLT) admitted an application by an IDBI Bank-led consortium.
 Anuj Jain was appointed as an Interim Resolution Professional to conduct insolvency process and also manage the affairs of the company.
 In the first round of insolvency proceedings conducted last year, the Rs 7,350-crore bid of Lakshdeep, part of Suraksha Group, was rejected by lenders. The CoC rejected the bids of Suraksha Realty and NBCC in the second round held in May-June this year.
 The matter reached to the National Company Law Appellate Tribunal (NCLAT) and then the apex court.
 On November 6, the Supreme Court directed completion of Jaypee Infratech's insolvency process within 90 days and said the revised resolution plan will be invited only from NBCC and Suraksha Realty.
 As many as 13 banks and over 23,000 homebuyers have voting rights in the CoC. Buyers have nearly 60 per cent votes. For a bid to be approved, 66 per cent votes are required. Homebuyers claim amounting to over Rs 13,000 crore has been admitted.
 Meanwhile, Suraksha Realty has offered 1,934 acres worth Rs 7,857 crore to lenders. It has proposed to bring in Rs 2,000 crore as working capital to complete construction in the next three years and will retain the Yamuna Expressway with itself.
 The Mumbai-based developer has proposed to complete flats in the next three years. MJH BAL

NBCC and Mumbai-based Suraksha Realty are in race to acquire Jaypee Infratech

New Delhi, Nov 15 () Housing prices in Gurugram and adjoining areas have dropped 4 per cent in the last one year, while Noida and Greater Noida saw one per cent increase, according to brokerage firm PropTiger.
 The weighted average basic selling price (BSP) in Gurugram declined to Rs 4,868 per sq ft in July-September period from Rs 5,055 per sq ft a year ago, News Corp-backed PropTiger said in its report Real Insight.
 Gurugram area includes Bhiwadi, Sohna and Dharuhera. 
 However, rates in Noida (including Greater Noida and Yamuna Expressway) rose marginally to Rs 3,921 per sq ft from Rs 3,886 per sq ft during the period under review. 
 As per the report, the combined housing sales in both Gurugram and Noida regions fell 47 per cent during the July-September period to 5,569 units.
 Sales in Gurugram fell by 31 per cent to 2,742 units in July-September this year from 3,988 in the corresponding period of last year, while demand plunged by 57 per cent to 2,827 units from 6,528 units.
 In new supply, Gurugram saw an increase of 27 per cent to 2,353 units from 1,851 units, but Noida witnessed fall of 55 per cent to 736 units only from 1,647 units. 
 As on September 30, 2019, builders in the two cities had an unsold stock of 1,06,317 units as against 1,15,598 units a year ago. 
 In its report, PropTiger tracks sales, launches, prices in residential markets of nine cities - Mumbai Metropolitan Region (including Navi Mumbai and Thane), Pune, Noida (including Greater Noida and Yamuna Expressway), Gurugram (including Bhiwadi, Dharuhera and Sohna), Bengaluru, Chennai, Hyderabad, Kolkata and Ahmedabad.
 PropTiger.com is part of Elara Technologies that also owns Housing.com and Makaan.com. MJH ANS
ANS

Housing prices in Gurugram down 4 pc in last one year; Noida sees marginal rise: PropTiger

New Delhi, Nov 22 () Lenders of Jaypee Infratech will meet on November 28 for further discussions on bids submitted by state-owned NBCC and Mumbai-based Suraksha Realty to acquire the debt-laden realty firm in the ongoing insolvency process. 
In a regulatory filing, Jaypee Infratech's Interim Resolution Professional (IRP) Anuj Jain said "a meeting of Committee of Creditors will be held on 28th November, 2019." The agenda of the meeting was not disclosed.
 However, sources said lenders will continue discussions with both the contenders.
 Earlier this week, the Committee of Creditors (CoC) discussed the fresh bids submitted by NBCC Ltd and Suraksha Realty, which were sought as per the direction of the Supreme Court. This is the third round of bidding.
In the meeting held on November 18, senior officials of NBCC and Suraksha Realty made their presentations before the CoC and highlighted main features of their resolution plans to revive Jaypee Infratech.
NBCC and Suraksha might be asked to submit their final plans after the next CoC meet on November 28 and voting process could be conducted before December 10.
As many as 13 banks and over 23,000 homebuyers have voting rights in the CoC. Buyers have nearly 60 per cent votes. For a bid to be approved, 66 per cent votes are required.
To settle an outstanding claim of nearly Rs 9,800 crore to bankers, NBCC has offered 1,426 acre land worth Rs 5,000 crore, 75 per cent of 858 acres land to be transferred to Jaypee Infratech and 50 per cent of the sale proceeds of benami or unclaimed flats. From the sale proceeds, receivables from earlier buyers and any expenses related to tax/duties/ legal will be deducted.
Sources had said that there are about 3,000 such unclaimed units.
The public sector firm has proposed to transfer the Yamuna Expressway, which connects Noida and Agra, to the lenders, but before that it plans to take Rs 2,500 crore debt against the expressway for completion of over 20,000 flats in the next four years.
Sources had said NBCC has pegged the value of 640 acres land (75 per cent of 858 acres) at around Rs 2,500 crore, while the Yamuna Expressway has been valued at Rs 2,000 crore after deducting the debt.
Meanwhile, Suraksha Realty has offered 1,934 acres worth Rs 7,857 crore to lenders. It proposed to bring in Rs 2,000 crore as working capital to complete construction in the next three years and will retain the Yamuna Expressway with itself.
The Mumbai-based developer has proposed to complete flats in the next three years.
On delays compensation, NBCC has proposed Rs 5 per sq ft per month to be payable after grace period of one year from the scheduled delivery date, while Suraksha has offered Rs 10 per sq ft post grace period of 9 months.
Suraksha Realty has proposed that any liabilities towards farmers compensation would be extinguished and not passed on to homebuyers, while NBCC has stated that it should be collected from end user including homebuyers and development authority.
That apart, Suraksha Realty has proposed to set aside Rs 100 crore worth land for the welfare of homebuyers.
 Jaypee Infratech, a subsidiary of crisis-hit Jaiprakash Associates, went into insolvency process in 2017 after the National Company Law Tribunal (NCLT) admitted an application by an IDBI Bank-led consortium.
In the first round of insolvency proceedings conducted last year, the Rs 7,350-crore bid of Lakshdeep, part of Suraksha Group, was rejected by lenders. The CoC rejected the bids of Suraksha Realty and NBCC in the second round held in May-June this year.
The matter reached to the National Company Law Appellate Tribunal (NCLAT) and then the apex court.
On November 6, the Supreme Court directed completion of Jaypee Infratech's insolvency process within 90 days and said the revised resolution plan will be invited only from NBCC and Suraksha Realty. MJH ABM

Jaypee Infra insolvency: Lenders to meet on Nov 28 for further discussions on NBCC, Suraksha bids

New Delhi, Jan 17 () Realty firm Gaurs group on Friday announced an investment of Rs 10,000 crore over the next five years to develop housing, commercial, schools, hospitality and healthcare projects in the national capital region.
 The group announced this investment plan on completion of its 25 years of operation.
 "We have completed and delivered more than 50,000 units in the last 25 years. Now, we are targeting to deliver another 50,000 units in the next five years. We will increase our focus in commercial segment which is doing very well," Gaurs group Managing Director Manoj Gaur told reporters here.
 He said the company's sales bookings have been strong despite demand slowdown in the housing market. Sales booking jumped to Rs 4,000 crore from Rs 1,600 crore in the previous year.
 Gaurs claimed that the company has never defaulted in delivering units to customers and repayment of debt to financial institutions.
 On future plan, Gaur said the company would be investing Rs 10,000 crore over the next five years to develop projects across all verticals -- housing, offices, retail, hotels, service apartments, schools and hospitals.
 These projects would be mainly at Noida, Greater Noida, Yamuna Expressway and Ghaziabad in Uttar Pradesh. The company will soon be foraying into Dehradun market with a mixed-use project.
 Gaurs group is developing 237 acre township 'Gaur City' at Noida Extension and 250-acre township at Yamuna Expressway in Greater Noida.
 Asked about source of fund to make this huge investment, company's director Sarthak Gaur said it will be through internal accruals and debt.
 "We have a customer receivable of nearly Rs 3,000 crore. We also have unsold unit of Rs 2,000 crore," he added.
 On the commercial segment, Gaur said the company has so far developed about 25 lakh sq ft of commercial area of which around 15 lakh is under the lease model.
 "We plan to develop 10 million sq ft of commercial space in the next 5 years. We have a rental income of Rs 100 crore currently and target is to touch Rs 400 crore in the next five years," he said.
 Asked about the company's turnover and debt, Manoj Gaur said the turnover fluctuates between Rs 1,200 crore to Rs 2,000 crore depending on revenue recognition based on area completion, while its debt is around Rs 2,000 crore.
 Gaurs Group recently raised Rs 450 crore in debt from ICICI Bank and the amount will be used for a shopping mall project in Greater Noida.
 The group CSR arm Gaurs Foundation tied up with Pinkishe Foundation, an all-women NGO that works for empowerment of girls and women. MJH SHW
SHW

Gaurs group to invest Rs 10K cr in next 5yrs on various realty, hotel, hospital projects in NCR

New Delhi, Nov 16 () State-owned NBCC Ltd is likely to take the responsibility of selling Rs 1,750-crore worth of unsold flats of Jaypee Infratech instead of offering them to lenders in its fresh bid to acquire the debt-laden realty firm through insolvency process, sources said.
 This was one of the reasons for lenders voting out the NBCC's resolution plan in June this year. 
 NBCC and Suraksha Realty are likely to submit their revised offers on Sunday as sought by Interim Resolution Professional (IRP) Anuj Jain. 
 A meeting of Committee of Creditors (CoC) has been convened on November 18 to discuss the resolution plans.
 Earlier, NBCC had offered 2,207 unsold flats worth Rs 1,756 crore to lenders, but bankers were reluctant to acquire these apartments. 
 NBCC had revised this offer to flats worth Rs 1,300 crore, still bankers were not convinced. 
 Jain, the IRP, has sought revised bids from NBCC and Suraksha Realty and called the CoC meeting as per the direction of the apex court.
On November 6, the Supreme Court had directed completion of Jaypee Infratech's insolvency process within 90 days and said the revised resolution plan will be invited only from the NBCC and Suraksha Realty.
The apex court had said that pendency of any other application before the National Company Law Tribunal or National Company Law Appellate Tribunal, including any interim direction, shall be no impediment for the IRP to receive and process the revised resolution plan from the two bidders.
 This will be the third round of bidding process in the Jaypee Infratech insolvency matter.
 In 2017, Jaypee Infratech went into insolvency process after the National Company Law Tribunal (NCLT) admitted an application by an IDBI Bank-led consortium seeking revival of the realty firm. Jaypee Infratech has a debt of nearly Rs 10,000 crore. 
 In the first round of insolvency proceedings conducted last year, the Rs 7,350-crore bid of Lakshdeep, part of Suraksha Group, was rejected by lenders.
 Later in October 2018, the IRP started the second round of bidding process to revive Jaypee Infratech on the NCLT's direction. 
 NBCC and Suraksha Realty both placed their bids but the same were rejected by the lenders, and the matter reached to appellate tribunal and then the Supreme Court. 
 As many as 13 banks and over 23,000 home buyers have voting rights in the CoC. Buyers have nearly 60 per cent votes. For the bid to be approved, 66 per cent voters should be in favour of the deal.
 During the bidding process held in June 2019, the NBCC had proposed infusion of Rs 200 crore equity capital, transfer of 950 acres of land worth Rs 5,000 crore as well as Yamuna Expressway to banks and completion of flats by July 2023 in order to settle an outstanding claim of Rs 23,723 crore of financial creditors, including banks and home buyers.
 NBCC had also put certain conditions related to exemption from future tax liabilities and seeking permission from Yamuna Expressway Industrial Development Authority (YEIDA).
 Lenders had then asked NBCC to offer 1,426 acre land instead of 950 acre besides taking onus of getting approvals from income tax and development authorities. MJH MR
MR

You Searched For "Yamuna Expressway" and got 14 results

Apple suppliers to invest ₹2,800 cr in UP as iPhone maker to move more manufacturing to India

IANS

YEIDA cancels allotment of 14 group housing projects due to non-payment of dues

IANS

Patanjali’s Rs 2000 Cr food park coming up in Greater Noida

BI India Bureau

Patanjali’s food park of Rs 1,600 crore would come up at Noida

BI India Bureau

Fighter jet lands on the Expressway to Taj

BI India Bureau

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

Sanghamitra Mandal

Delhi-NCR: 5.68L houses under construction; periodic bans add to buyers' woes

IANS

Jaypee loses 1,000 hectare land that has F1 Circuit

PTI

Microsoft to set up campus in UP soon

IANS

NBCC and Mumbai-based Suraksha Realty are in race to acquire Jaypee Infratech

PTI

Housing prices in Gurugram down 4 pc in last one year; Noida sees marginal rise: PropTiger

PTI

Jaypee Infra insolvency: Lenders to meet on Nov 28 for further discussions on NBCC, Suraksha bids

PTI

Gaurs group to invest Rs 10K cr in next 5yrs on various realty, hotel, hospital projects in NCR

PTI

NBCC may revise bid for Jaypee Infra, likely to keep unsold flats of Rs 1,750 cr

PTI

Popular Keywords

Buying Guides

You Searched For "Yamuna Expressway" and got 14 results

Apple suppliers to invest ₹2,800 cr in UP as iPhone maker to move more manufacturing to India

IANS

YEIDA cancels allotment of 14 group housing projects due to non-payment of dues

IANS

Patanjali’s Rs 2000 Cr food park coming up in Greater Noida

BI India Bureau

​ Patanjali’s food park of Rs 1,600 crore would come up at Noida

BI India Bureau

Fighter jet lands on the Expressway to Taj

BI India Bureau

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

Sanghamitra Mandal

Delhi-NCR: 5.68L houses under construction; periodic bans add to buyers' woes

IANS

Jaypee loses 1,000 hectare land that has F1 Circuit

PTI

Microsoft to set up campus in UP soon

IANS

NBCC and Mumbai-based Suraksha Realty are in race to acquire Jaypee Infratech

PTI

Housing prices in Gurugram down 4 pc in last one year; Noida sees marginal rise: PropTiger

PTI

Jaypee Infra insolvency: Lenders to meet on Nov 28 for further discussions on NBCC, Suraksha bids

PTI

Gaurs group to invest Rs 10K cr in next 5yrs on various realty, hotel, hospital projects in NCR

PTI

NBCC may revise bid for Jaypee Infra, likely to keep unsold flats of Rs 1,750 cr

PTI

Popular Keywords

Buying Guides

Patanjali’s food park of Rs 1,600 crore would come up at Noida