The Rs 5,000-crore land deal, hailed as the biggest of its kind in the country, might be in trouble. According to top officials in the Noida administration as well as the real estate industry, the Delhi-based real estate firm BPTP is finding it extremely difficult to raise funds for the land buying.
Unable to pay the first instalment on time, the company has requested the administration to grant a two-month extension for paying Rs 1,250 crore. However, this comes with a penalty clause, and the realtor will have to pay a fine to avail of this extension.
The company had requested for an extension and we have extended the time from 30 to 90 days to pay the required amount, said a senior official in the Noida authority.
More : howrah.org
Send an E-Mail for Noida Property Enquiry!
Related News from Noida
Unitech set to announce India’s largest land deal
NEW DELHI : Real estate major Unitech will soon announce Indias largest real estate deal surpassing its earlier Rs 1583 crore deal for a 360 acre plot at Expressway, Noida in May, this year. This land deal, however, will be way above Rs 2,000 crore. This will be Indias largest land deal. It will be located outside the NCR (National Capital Region) and will be way above the Rs 1586 Noida Expressway deal. We will announce the deal publicly in a few days, Unitech MD Sanjay Chandra told FE on the sidelines of a press conference to announce Unitechs
Noida land deal: Irregularities alleged
The decision to sell land for more development in Noida has exposed major irregularities. The land of dreams for 5,000 families was sold by the Uttar Pradesh government to Unitech Limited for Rs 1,500 crores and is being dubbed as Indias biggest land deal. But the deal could become the biggest controversy as a Bangalore based company called I-City Infrastructure has alleged irregularities in the deal and said it would appeal to the Allahabad High Court. I-City said it had offered Rs 2,100 crores for 350 acres in Sector 96, 97 and 98 of Noida, Rs 500 crores more than the price Unitech
India’s biggest land deal in Noida
In the biggest land deal in the country, a consortium led by Delhi-based Business Parks and Town Planners (BPTP) on Tuesday bagged a 95-acre commercial plot in Noida Sector 94 for a mindboggling Rs 5,006 crore from the Noida Authority. (Watch) The price per square metre in the deal — clinched after sealed bids were submitted — comes to Rs 1,30,207; or Rs 52.69 crore per acre. The next highest bid for the site was Rs 1,17,000 by DLF and the third highest, of Rs 80,000, by Omaxe. Ansal Properties and Infrastructure was earlier disqualified in the technical bid. According
BPTP grabs 95 acre land in Noida for Rs 5006 crore
In the largest land deal in the country, a consortium led by Delhi-based Business Parks and Town Planners (BPTP) has bagged a 95 acre commercial plot in Noida Sector 94 for a whooping Rs 5,006 crore ($1.24 billion), from the Noida Authority BPTP quoted the highest sum of Rs 1,30,207 a square meter beating DLF, Indias biggest listed developer, and Omaxe which quoted Rs 1,17,000 and Rs 80,100 a square meter, respectively. The other big deals include Adanis Rs 2,250 crore deal with HDIL in Bandra-Kurla Complex, DLFs Rs 1,675 crore acquisition of DCM Shrirams property in Delhi, Unitechs Rs
95 acres for Rs 5000 crores
In another mother of all real estate deals, realty developer BPTP brough a 95 acre plot in Noida for a whopping Rs 5000 crores, beating all land deals till date by a huge margin. The Real Estate developer BPTP pipped giants like DLF and Ansals to win this historic bid. This victory will see its offices, mall, hotels and service apartments come up in Noida. As per the Chairman of Noida Bids Evaluation Committee -- Yash Pal Singh -- the land was sold for Rs 1,30,207 per square metre of land. This area according to the Chairman is a prime