Latest news with #NBCC
Time of India
15 hours ago
- Climate
- Time of India
Key roads cave in, commuters bear the brunt in Noida & Ghaziabad
Noida: Heavy overnight rain triggered major road cave-ins at two crucial locations on Thursday, disrupting traffic flow and leaving thousands of residents scrambling for alternative routes. The damage exposed the city's inadequate drainage systems and vulnerable infrastructure. The first collapse occurred on the vital road connecting Gaur City with Haibatpur village, a stretch that serves around 6,000 residents living in highrises in the vicinity. The road — passing by the NBCC's Amrapali Golf Homes Phase II project — was completely washed away, forcing locals to make long detours to reach Gaur Chowk, Noida, and Ghaziabad. In another incident, a portion of the recently redeveloped Crossings Republik-Shahberi road caved in near Morpheus Bluebell society. The 3km stretch, which was upgraded by the Greater Noida Authority this May itself, suffered significant damage because of water seeping in from an adjacent drainage channel. You Can Also Check: Noida AQI | Weather in Noida | Bank Holidays in Noida | Public Holidays in Noida The infrastructure failure had cascading effects on local communities. Haibatpur village, surrounded by high-rise residential societies, experienced widespread waterlogging and power outages. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Free P2,000 GCash eGift UnionBank Credit Card Apply Now Undo "The road collapse disrupted traffic and damaged the water and sewage network," said Subhash, a local resident, highlighting the poor drainage infrastructure as a contributing factor. At the Amrapali site, contractual workers attempted temporary repairs using truckloads of soil to make the road passable. Traffic police, meanwhile, restricted movement to a single lane on the Crossings Republik-Shahberi stretch, where two lanes usually remain operational. "Such a huge cave-in during rain is a cause for concern. It is not just inconvenient — it is dangerous as well," said Dharmendra, an Iteda village resident, expressing fears about potential accidents, especially during nighttime. T he Greater Noida Authority has initiated repair work on both stretches. "Yes, the matter is in our knowledge and repair work has started. The roads will be fixed soon," an official said. Greater Noida Authority said multiple teams had been deployed to address waterlogging issues as well. Along with work circle teams, the general manager, OSD, and additional CEO also visited the field. Authority CEO NG Ravi Kumar said he had instructed officials to remain in the field and resolve any waterlogging issues they encountered. "When we received information about the road cave-in at Haibatpur and road erosion at Shahberi, teams were rushed to the sites to initiate repair work," he added. An NBCC official explained the situation. "Around midnight, a road located on the north of the Amrapali project premises was damaged after persistent heavy rain and chocking of the existing drainage system. The affected stretch lies in proximity to the villages of Haibatpur and Shahberi. Along the road, there exists a badly choked drain and a low-lying area, which typically collects wastewater from the villages and rainwater runoff. The intense rain burdened this already stressed drainage system, causing the drain to collapse and the low-lying area to overflow," he added. The official added that "although the damaged road was outside the project premises, the consequences had been significant, including heavy inflow of accumulated water and mud and operational setbacks". "In view of the public interest and to safeguard the ongoing project, the agency has immediately deployed teams to undertake the necessary temporary restoration work. Efforts are ongoing to restore normalcy at the earliest for public usage. " India Meteorological Department (IMD) recorded 37mm of "moderate" rain in the city between Wednesday night and early Thursday morning. The city recorded a maximum temperature of 31.3 degrees Celsius and a minimum of 25.4 degrees, showing a slight variation from Wednesday's readings of 27 and 26.7 degrees, respectively.
Business Standard
15 hours ago
- Business
- Business Standard
NBCC secures work order from Madhya Pradesh Gramin Bank
For development of an institutional campus in Indore NBCC (India) has signed a Memorandum of Understanding (MoU) with Madhya Pradesh Gramin Bank (MPGB) for the development of a modern institutional campus in Indore, Madhya Pradesh. The project, having value of approximately Rs 45.30 crore (excluding GST), will be executed by NBCC on a deposit work basis and includes the construction of the Bank's Head Office, Training Centre with hostel facilities, and Executive Quarters. This work is in the normal course of business of the Company and aligns with NBCC's continued focus on expanding its institutional project portfolio while contributing to infrastructure growth in Tier-II cities. This collaboration reflects a shared vision to strengthen institutional infrastructure and promote financial inclusion in rural and semi-urban India. This landmark project will serve as a symbol of administrative progress and innovation in Central India.
Business Standard
15 hours ago
- Business
- Business Standard
NBCC signs MoU with Department of Post, Govt. of India
NBCC (India) announced that a Memorandum of Understanding (MoU) was signed between NBCC (India) and Department of Post of the Government of India on 30 July 2025 for development of various land parcels on PAN India basis on NBCC's redevelopment self sustainable mode. The project value shall be ascertained and informed on case-to-case basis. NBCC will serve as the Project Management and Marketing Consultant for optimum monetization.
Economic Times
2 days ago
- Business
- Economic Times
Supertech homebuyers seek CJI, PM intervention to let NBCC complete projects
Homebuyers of 16 stalled Supertech projects have appealed to the Chief Justice of India and Prime Minister Modi, urging them to assign the projects to NBCC instead of Apex Group. They seek the removal of a stay on an NCLAT order that favored NBCC, citing concerns about Apex Group's proposal and financial viability. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Homebuyers of 16 stalled housing projects by Supertech have written to Chief Justice of India B R Gavai and Prime Minister Narendra Modi, seeking their intervention to hand over these projects to state-owned NBCC instead of NCR-based Apex homebuyers called for vacating a stay imposed by the top court on a National Company Law Appellate Tribunal (NCLAT) order in December 2024, directing that all these projects be entrusted to NBCC (India) Ltd for time-bound stay was based on a proposal Apex Group submitted to the Supreme Court to revive the projects.'After enduring over a decade of financial loss, mental trauma, and shattered dreams, we now face the imminent threat of being handed over once again to a private entity — Apex Heights Pvt Ltd — whose proposal and compliance affidavit submitted to the SC is fundamentally flawed, financially unviable, ethically questionable, and devastating for homebuyers,' they said in the 16 stuck projects of Supertech comprise 50,962 homes, of which 39,870 are sold and 11,092 remain unsold. Of the sold homes, 24,871 have been handed over to buyers, while 14,999 are yet to be investment of Rs 1,700 crore is required to complete the sold homes, while receivables from these units are estimated at Rs 2,200 crore.'NBCC has delivered large-scale, complex stalled housing projects such as Amrapali. It has the technical expertise, government backing, operational credibility, and most importantly — the trust of homebuyers,' said Mujeebur Rahman, a buyers have also demanded the disqualification of Apex from the resolution process and the complete removal of Supertech promoters from it.'We have requested the Supreme Court that no further interlocutory applications (IA) be entertained at this advanced stage of the proceedings. It has already been 15 long years, and more than 50,000 homebuyers are still waiting for their homes, having suffered immense financial and mental distress,' Rahman have alleged that Supertech is attempting to block NBCC's onboarding by pushing the Apex however, said once the Supreme Court approves the resolution plan submitted by Apex Heights, it will pave the way for all stakeholders to complete the 16 projects, with deliveries to homebuyers starting within three months and being completed in the next 24 months, in addition to repayment to financial institutions and land authorities as agreed in the plan.'Since the de-linking of the Doon Square Project in reverse insolvency, the handover of units has been done by Ametek, the codeveloper in the project, well before the time stipulated. NCLAT had directed delivery in 12 months, whereas 100% handover of units to homebuyers has been successfully completed in nine months,' Supertech said in a Group has agreed to clear Rs 678 crore of dues to five banks and around Rs 1,900 crore to Noida, Greater Noida, and Yamuna authorities. In the initial phase, the company has committed to invest Rs 500 crore, with plans to deliver the flats within two years of taking over.
Time of India
5 days ago
- Business
- Time of India
Supertech homebuyers seek CJI, PM intervention to let NBCC complete projects
Homebuyers of 16 stalled housing projects by Supertech have written to Chief Justice of India B R Gavai and Prime Minister Narendra Modi, seeking their intervention to hand over these projects to state-owned NBCC instead of NCR-based Apex Group. The homebuyers called for vacating a stay imposed by the top court on a National Company Law Appellate Tribunal (NCLAT) order in December 2024, directing that all these projects be entrusted to NBCC (India) Ltd for time-bound completion. Explore courses from Top Institutes in Please select course: Select a Course Category Operations Management Digital Marketing MBA Cybersecurity Project Management healthcare Healthcare CXO Data Science Product Management Public Policy others Design Thinking Degree Finance PGDM Data Science Technology MCA Others Artificial Intelligence Data Analytics Management Leadership Skills you'll gain: Quality Management & Lean Six Sigma Analytical Tools Supply Chain Management & Strategies Service Operations Management Duration: 10 Months IIM Lucknow IIML Executive Programme in Strategic Operations Management & Supply Chain Analytics Starts on Jan 27, 2024 Get Details The stay was based on a proposal Apex Group submitted to the Supreme Court to revive the projects. 'After enduring over a decade of financial loss, mental trauma, and shattered dreams, we now face the imminent threat of being handed over once again to a private entity — Apex Heights Pvt Ltd — whose proposal and compliance affidavit submitted to the SC is fundamentally flawed, financially unviable, ethically questionable, and devastating for homebuyers,' they said in the letter. The 16 stuck projects of Supertech comprise 50,962 homes, of which 39,870 are sold and 11,092 remain unsold. Of the sold homes, 24,871 have been handed over to buyers, while 14,999 are yet to be delivered. Live Events An investment of Rs 1,700 crore is required to complete the sold homes, while receivables from these units are estimated at Rs 2,200 crore. 'NBCC has delivered large-scale, complex stalled housing projects such as Amrapali. It has the technical expertise, government backing, operational credibility, and most importantly — the trust of homebuyers,' said Mujeebur Rahman, a homebuyer. The buyers have also demanded the disqualification of Apex from the resolution process and the complete removal of Supertech promoters from it. 'We have requested the Supreme Court that no further interlocutory applications (IA) be entertained at this advanced stage of the proceedings. It has already been 15 long years, and more than 50,000 homebuyers are still waiting for their homes, having suffered immense financial and mental distress,' Rahman said. Homebuyers have alleged that Supertech is attempting to block NBCC's onboarding by pushing the Apex proposal. Supertech, however, said once the Supreme Court approves the resolution plan submitted by Apex Heights, it will pave the way for all stakeholders to complete the 16 projects, with deliveries to homebuyers starting within three months and being completed in the next 24 months, in addition to repayment to financial institutions and land authorities as agreed in the plan. 'Since the de-linking of the Doon Square Project in reverse insolvency, the handover of units has been done by Ametek, the codeveloper in the project, well before the time stipulated. NCLAT had directed delivery in 12 months, whereas 100% handover of units to homebuyers has been successfully completed in nine months,' Supertech said in a statement. Apex Group has agreed to clear Rs 678 crore of dues to five banks and around Rs 1,900 crore to Noida, Greater Noida, and Yamuna authorities. In the initial phase, the company has committed to invest Rs 500 crore, with plans to deliver the flats within two years of taking over. Economic Times WhatsApp channel )
