Allahabad High Court quashes land acquisition in Sahberi Village
The Allahabad High Court on Thursday quashed the acquisition of land by the Greater Noida Authority at Sahberi village in Gautam Budh Nagar district where three leading builders had launched residential schemes. The builders — Amrapali, Supertech and Mahagun — had started their residential schemes under the name of Noida Extension.

In order to extend the area of the twin cities, a draft plan of Greater Noida Extension has been prepared. With this, Greater Noida will have the largest area in the NCR
Keeping in view the rising demand for land, Greater Noida authority is all set to finalize a draft plan for the city. With this, the proposed area of Greater Noida Extension will have three times the area as the first planned modern city of India, Chandigarh — designed by the French architect Le

Sunil Mittal Gearing up for Big Splash in Real Estate Sector
The goal is to be one of the top three realty companies in India, and Mittal has set up Bharti Realty Ltd as the beachhead to achieve it. Officials at Bharti Enterprises, the group mothership, were not available to share details. Bharti Realty has started work on four projects including three mixed-use developments and a shopping mall in northern and eastern India. While residential developments are not a part of current activity, the management plans to enter the segment too.

IDFC to Acquire IT Park Owned Jointly by DLF & 3C for Rs 512cr
Infrastructure Development Finance Corporation (IDFC) will acquire an IT park jointly owned by DLF and The 3C Company in Noida for Rs 512 crore. The 1.36 million sq ft IT park, partly occupied by Computer Sciences Corp, is one of the non-core assets DLF was planning to monetise to reduce its growing debt. According to a document reviewed and verified by ET, the two-phase transaction has been approved by the IDFC board. It is slated to conclude early next week. This would be the second transaction for DLF in September. Earlier this month, the company had sold a 27.4-acre plot in Gurgaon to M3M for Rs 440 crore.

Developers Lure Doha NRIs to Invest in India
Indian property developers called upon potential buyers in Doha to take advantage of recessionary trends in the global economy and make investments in the real estate sector of growing economies like India. The two-day Indus Property Exhibition 2011 was held in the city recently, where Indian real estate developers showcased their properties. In a joint statement issued on the occasion, the participating companies said that “with India beginning to resurface itself as a formidable economic system, backed by strong foreign exchange reserves, healthy GDP growth rates and expanding foreign direct investment, conditions are ideal to buy properties in the country’s major cities”