32-year-old woman and her 58-year-old mother sustained injuries after their car collided with a tractor loaded with bricks on the Yamuna Expressway near Jaypee Sports Cut in Dankaur. The daughter sustained arm fractures, while her mother sustained a fracture in her left leg. They were referred to Kailash Hospital in Sector 27, where they are currently recovering.
Reserve Bank Of India: On May 3, the RBI issued draft norms proposing a 5% provision for existing and new project loans, commercial loans, and real estate loans against 0.4% to 1% stipulated on such loans by the regulator.
Jaypee Group: The land was allotted as a special development zone (SDZ) for developing a Sports City in Sector 25. YEIDA cancelled the allotment on February 12, 2020, citing Rs 3,621 crore land dues.
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GREATER NOIDA: The Yamuna Expressway Industrial Development Authority (YEIDA) has rolled out two policies that can be availed by construction companies by August 31 in an attempt to revive stalled projects in the region. The decision to offer restoration and reschedulement policies was taken during the YEIDA board meeting held on June 28.
Under the reschedulement policy, a builder will have to pay 5% of the due amount upfront. Once a revised repayment schedule is fixed, the developer will have to shell out an additional 5% of the due amount to YEIDA. To restore a cancelled plot, a developer will have to pay 10% of the current land premium to the authority.