Realty News Roundup: Noida Home Buyers Plan Protest March; Sahara Group To Not Participate In Re-Auction Of Grosvenor House

Several home buyers awaiting delivery of their flats in Noida are planning a protest march seeking a meeting with Union Environment Minister Prakash Javadekar demanding final notification on the boundary of the eco-sensitive zone (ESZ) around the Okhla Bird Sanctuary. More than one-and-a-half-years ago, the National Green Tribunal (NGT) had forbidden the Noida Authority from giving Completion Certificates to real estate projects in Noida that fall within a 10 kilometer radius area around the sanctuary. The environment ministry had drafted a notification to bring down the ESZ to 100 meters on three sides where several real estate projects have been affected, but so far there have been no final notification on this.

Here are the other real estate related news stories of May 28, 2015:

Sahara not to participate in re-auction of Grosvenor House: Sahara Group said that it will not participate in any re-auctioning of Grosvenor House, the London Hotel put on sale by lender Bank of China for a loan default. Bank of China has Grosvenor House under "administration" to recover its loans. Deloitte and realty consultant JLL have been mandated to find a new buyer for Grosvenor House through an auction. Sahara Group, which is in a financial crisis, is trying to raise funds.

USIBC, Rajasthan government officials to meet over Ajmer smart city project: A delegation of US India Business Council (USIBC) and officials of Rajasthan government will have their first roundtable conference on making Ajmer a smart city on May 29. Eight months ago, the US India Business Council (USIBC) had said that they were keen on making Ajmer a smart city. The Rajasthan government has signed a Memorandum Of Understanding (MoU) with the United States Trade and Development Agency for the Smart City Cooperation Project for Ajmer.

78 hotels near IGI Airport face closure: Around 78 hotels near Indira Gandhi International Airport in Mahipalpur are facing closure for not having received permission to operate from the civic agencies and the Delhi Pollution Control Committee (DPCC). These hotels were found drawing water illegally from 30 bore wells, of which 17 are community bore wells that were developed by utilizing MLA funds. The hotels also do not have permission to use groundwater.