#RealtyNewsRoundup: UP Govt Nod To Noida-Greater Noida Metro Link [Video]

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Realty News Roundup is PropGuide's selection of the day's top stories from the real estate sector.

The Uttar Pradesh government has given its nod for the construction of a 15-km Metro project that will connect Noida's Sector 71 with Greater Noida's Knowledge Park V. The project is likely to be completed by March 2021. The project will benefit thousands of home buyers who have shifted to the newly built apartment complexes in Greater Noida West and nearby Crossings Republik in Ghaziabad.

The Maharashtra government's plan to build affordable homes on a part of Mumbai's 5,379 acres of salt pan land may not become a reality anytime soon. The Mumbai Metropolitan Region Development Authority report has established that barely 25 acres of such land— which makes for 0.5 per cent—can be developed. These scattered pockets are in bits and pieces and lie in the eastern suburb. An official said Centre will have to tweak Coastal Regulation Zone (CRZ) norms to allow construction.

JP Morgan Asset Management has invested about Rs 200 crore in Singapore-based Assetz Property Group, which will build an 18.5-acre residential project in north Bengaluru. The company plans to set up logistics and warehouse parks on the outskirts of Delhi, Mumbai, Chennai, Bengaluru and Nagpur.

The Greater Noida Industrial Development Authority (GNIDA) said it would cancel the allotment of seven defaulting developers for failing to opt for its amnesty scheme. The developers were asked to apply for a rescheduled payment plan to clear their dues by September 23. Of the 95 developers, only 88 had opted for the scheme.

Source: Media reports