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Hindustan Times
15-06-2025
- Business
- Hindustan Times
Noida decides to revamp old high-rises, gives nod for building 7-star hotels
The Noida authority held its 218th board meeting on Saturday, in which it took several decisions such as the redevelopment of old, dilapidated multi-storey group housing towers, conceptual approval for the construction of five or seven-star hotels, industrial schemes, and permission for co-developers to invest in and complete stalled housing projects. Uttar Pradesh chief secretary Manoj Kumar Singh, who is the chairman of the Noida authority board, attended the meeting through video conferencing from Lucknow. Noida authority chief executive officer (CEO) Lokesh M, Greater Noida authority CEO Ravi Kumar NG, Gautam Budh Nagar district magistrate Maneesh Kumar Verma, and senior officials from the Yamuna Expressway and the Ghaziabad development authorities also attended the meeting in Sector 6. 'The board has given in-principle approval to the redevelopment of old, dilapidated high-rises so that users of these projects can avail themselves of better basic facilities and get modern infrastructure inside their buildings. We aim to redevelop old housing projects built by the Noida Authority in Sectors 27, 93, and 93A. Cooperative and private developers who have old low-rise buildings can use a 3.5 floor area ratio instead of the old 2 FAR to build more flats and go vertical if they can purchase additional FAR for the redevelopment,' said Lokesh M. The authority is likely to release a detailed roadmap for the redevelopment of the old buildings, said officials. The authority has also given approval to engage co-developers in three stalled projects, including IVRCL Private Limited in Sector 118, Supertech Capetown in Sector 74, and Supertech Ecocity in Sector 137. The board has also allowed a waiver of interest on land cost dues to another housing project named Cloud Nine in Sector 100, because the promoter could not make use of the offer previously. 'The board has made it very clear that if a co-developer wants to take over a stalled housing project like these three, then he/she will have to pay 25% of the total dues to initiate the takeover process,' said Lokesh M. The board said five and seven-star hotels in the city can be allowed on a public-private partnership (PPP) model. There are at least seven plots for five and seven-star hotels in the city, and the authority has been unable to sell these. As a result, it has come up with the PPP model in which it can provide land and a company can make an investment, said officials. 'The board has approved only the basic concept related to hotel development on the PPP model. The authority will prepare a Request for Proposal (RFP) document containing all the details related to the model that will be used for this project. The RFP document will include the details of how the PPP model will be executed, and what the stakes of the government and the interested company will be,' said Lokesh M.
Time of India
07-06-2025
- Automotive
- Time of India
Road to relief: Noida to raze footpath, widen 600m e-way stretch near Prerna Sthal
Noida: Noida Authority will partially raze the footpath, a roadside track and paver blocks near the Rashtriya Dalit Prerna Sthal to widen a 600-metre stretch of the expressway by 5.5 metres. Tailbacks on the Noida to Delhi arm of the carriageway often extend till Mahamaya flyover as the stretch between Sector 95 and DND Flyway loop in front of the Prerna Sthal is currently tapered to make space for its pavement and a U-turn towards Sector 18 near the bird feeding point. Last Dec, it added a lane, about 2 metres wide, by merging the left sidewalk with the DND Flyway Loop until Film City, a 250-metre stretch. Noida Authority CEO Lokesh M said the Authority had sought a no-objection certificate for the road widening from the National Dalit Prerna Sthal Committee, which is responsible for the management, security, and maintenance of memorials, museums, institutions, parks, and gardens, on Sept 26 last year and the clearance was received on June 5. Earlier, a consultant hired by the Noida Authority to find out how the expressway section could be widened had recommended removing a one-metre-wide roadside track, a 1.4-metre-wide footpath with railings, and a 3.1-metre-wide stretch with pavers to widen the carriageway by 5.5 metres. Once ready, the total road width in the stretch will go up from 39.5 metres to 45 metres. According to the official, traffic chaos near the DND loop has prompted the need to widen the stretch as the four-lane expressway narrows to three lanes after the bird feeding point. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 5 Books Warren Buffett Wants You to Read In 2025 Blinkist: Warren Buffett's Reading List Undo There are daily bottlenecks on the stretch as two lakh vehicles from Film City, Sector 18, and GIP Mall areas converge and enter the expressway via the Film City flyover for Delhi. Lane indiscipline near the DND loop adds to the jams. Traffic police are frequently forced to stop vehicles coming from the flyover to regulate traffic flow towards Delhi. Officials said road widening would improve lane continuity and reduce snarls. After the Noida Authority board approves the plan, a tender will be issued, and construction will commence thereafter. Nearly 5 lakh vehicles use the Noida Expressway daily, with two lakh entering the city through the DND Flyway stretch, and another lakh each from Kalindi Kunj, Chilla Border, and Noida's internal sectors.
Hindustan Times
04-06-2025
- Business
- Hindustan Times
Special Purpose Vehicle to run e-buses in Gautam Budh Nagar
NOIDA: The Gautam Budh Nagar's three industrial bodies -- Noida, Greater Noida, and the Yamuna Expressway Industrial Development Authority -- have initiated the process to set up a special purpose vehicle (SPV) (a new company) for operating the city bus service in the district. 'We have initiated the process to form SPV that will be tasked with running the bus service in the district. Since Noida's stake is higher, we are completing the process of formation of the SPV,' said Noida's chief executive officer (CEO) Lokesh M on Tuesday. 500 electric city buses will soon be operational across Noida, Greater Noida, and the Yamuna Expressway region. These buses will run on 25 routes across the district, including offering services to the Noida International Airport. Of the total, 300 buses will operate in Noida, 100 in Greater Noida, and 100 in the Yeida area, officials said. To manage operations, the SPV will be formed by all three authorities, with the Noida authority leading the initiative. 'We will engage a consultant who will be appointed to assist in the formation of the SPV. This consultant will advise on the composition of the company's board of directors. The SPV will oversee the smooth operation of buses across the three authority regions,' the CEO added. The selected firm will operate the buses under a 12-year Gross Cost Contract (GCC) model. Under this, operators will be paid a fixed cost per kilometre. The buses will run at about 10 to 15-minute intervals on 25 routes, from 6.30am to 11pm daily. The operation will include 15 routes in Noida, seven routes in Greater Noida and three routes in the Yamuna area, officials said. The equity contribution for the SPV is proposed to be 48% from Noida, and 26% each from Greater Noida, and Yeida, although these percentages may be adjusted. A recent meeting in Lucknow discussed the SPV structure and other key aspects of the city bus project. The bus fleet will include 250 standard-floor 12-metre e-buses and 250 standard-floor 9-metre e-buses. Each bus is expected to run 72,000 kilometres annually. The total project is valued at ₹675 crore, said officials. Initially, buses will be operated from terminals located in Sector 82 and Sector 91. All buses used will be either 12 metres or 9 metres in length, officials added.
Time of India
03-06-2025
- Business
- Time of India
Pull over & grab a bite: Parking for cars at Noida's food streets
Noida: Two food streets on the lines of Indore's famous '56 Dukan', proposed to come up near Botanical Garden metro station in Sector 38A and Skymark One building in Sector 98, will allow people to unwind with their families, grab a bite to eat, and not worry about traffic or parking. Tired of too many ads? go ad free now Officials said that the Sector 38A zone will come up on a 1km stretch between GIP Mall and the Botanical Garden parking at Rs 3 crore and have 16 stalls offering a variety of street foods. Noida Authority will carve out parking spots for over 100 cars along the stretch so that people can enjoy food either from their cars or while sitting in a pleasant open setting. The second zone near Skymark has already been developed along a 45-metre-wide service road near Noida Expressway and will have six stalls. It will be developed at Rs 2.2 crore. On Tuesday, Noida Authority officials said that the food streets will be operated by a single agency on a revenue-sharing model and not individual vendors, as planned earlier. "Noida Authority will not allocate kiosks in these street markets individually. Instead, both markets will be handed over to a single company, which will be selected through an RFP process," said Noida Authority CEO Lokesh M. According to officials, a few shops in the food streets will be reserved for women and disabled persons. "Apart from food stalls, the Authority plans to have some shops selling jewellery and other items to draw more people. However, it will be the agency's outlook in selecting the vendors," Lokesh M said. All civil and utility work is scheduled to be completed by the end of June. Once construction is finished, the markets will be ready for launch. Officials said these hubs are designed to serve not only as entertainment and leisure spaces but also as a steady source of revenue for the Authority.
Time of India
03-06-2025
- Business
- Time of India
In a few months, Noida residents may hail a city bus ride every 10 minute
Noida: The Noida, Greater Noida and Yamuna Expressway development authorities will jointly form a special purpose vehicle (SPV) unit to operate a fleet of 500 electric buses, with Noida leading the initiative. A consultant will be appointed to define the SPV's structure and recommend board members. The proposal for the project was recently discussed in a meeting in Lucknow attended by Noida Authority officials. Once set up, the SPV's details will be shared with the state govt. According to officials, the SPV will bear the operational costs of buses, which will be run by private agencies. Proposed equity split for the SPV is 48% for Noida, and 26% each for GNIDA and YEIDA. Meanwhile, the Directorate of Urban Transport (DUT) is working to hire an agency to operate the buses under the gross cost contract (GCC) model. The project is estimated to cost Rs 675 crore – which would cover the cost of purchasing e-buses, fast chargers (240 kW), plant and equipment, tools, and depot maintenance. Noida CEO Lokesh M said, "To run these buses, an SPV of the three authorities will be formed. While the DUT is procuring the buses and hiring an agency to run them, the viability gap funding will come from the authorities according to their stakes." The SPV will be ready by the time the operators and buses are in place, he added. As per the request for proposal (RFP) floated by DUT in March, the 500 buses will be deployed across 25 routes – 15 in Noida, seven in Greater Noida seven, and three in the YEIDA area. Under this plan, 300 buses will be deployed in Noida (150 12m ones and 150 9m ones), and 100 each will be deployed in Greater Noida and YEIDA. A maximum of two operators will manage the fleet, with services expected to commence in the second half of the year. Buses will ply at 10-15 minute intervals during peak hours and 15–20 minutes during off-peak times. The SPV will manage the fare system, while the operators will be paid on a per-kilometer basis. The project is planned for a 12-year term. As per the RFP, each bus is meant to ply 200km per day. However, in practice, buses may run 250–300km daily. Additional SPV-related costs include salaries for 50 employees (Rs 3 crore annually), office and utility expenses (Rs 2–3 crore), fare collection systems (Rs 2.5–3 crore), a project monitoring unit (Rs 1 crore), and depot maintenance (Rs 1–1.5 crore). Officials said that fares are expected to generate Rs 135 crore annually, with another Rs 10 crore from advertising. However, despite total revenues of Rs 145 crore, projected expenses exceed Rs 370 crore, creating a funding gap of Rs 225–230 crore annually. Noida Authority's share of the viability gap funding (VGF), based on its 48% stake, comes to about Rs 107 crore per year, or Rs 1,290 crore over the contract's 12-year duration. Initially, buses will be operated from terminals located in Sector 82 and Sector 91. Noida Authority will handle the necessary infrastructure development. Within one year of the agreement, Greater Noida and YEIDA will each construct one bus depot, officials added.
