Noida Sports City Revitalized as Developers File Plans

NOIDA – In yet another move to resolve the long-standing real estate disputes, leading realty firms Logix Infra Developers, 3C Green Construction and ATS Homes have filed new layout plans for their Noida Sports City ventures. On the back of instructions from the Supreme Court, the new Noida Sports City regulation has made its way to officialdom after the sports city's revised layout proposals were officially uploaded on the portal of the concerned authorities, thereby triggering a mandatory 15-day period for public objections and suggestions.

While the project was envisioned back in 2004 and finalized between 2007 and 2015 to create world-class sports facilities along with dense residential colonies, the project went into complete hibernation mode in January 2021 after the audit reports revealed that the developers had given more preference to housing than to sports infrastructure. It has led to a deadlock in map approvals, plot revalidation, and unit registry, thus leaving thousands of homebuyers stranded.

As per the new submissions, the developers have amended the master plans to ensure that there is strict compliance with the requirement of allocating 70% of the land for athletics, along with the remaining 30% of the land for residential and commercial purposes:

• Logix Infra Developers (Sector 150): Logix has managed to reserve 70% of the total area of 9,86,604 square meters for dedicated sports facilities, which include tennis courts, an indoor multi-sports arena, a cricket academy, a golf course, and a sports medicine facility. 28% of the area is designated as residential group housing, and 2% is dedicated to commercial projects.

• 3C Green Construction (Sectors 78-79): 3C Green has managed to reserve 70% of the total area of 6,63,001 square meters for mandatory sports facilities, 28% as residential group housing, and 2% as commercial projects.

• ATS Homes (Sector 152): In the 5,06,401 square meters area, ATS Homes has allotted 70% for sports facilities, 26% for residential complexes, and 4% for commercial buildings.

This updated roadmap also details a systematic financial and implementation timeline. In order to pay off their financial debts, developers have to make an initial deposit of 20% of their total debt payments due to the authority within two months from the approval of the layout, with the remaining 80% payment to be made in six equal half-yearly installments over three years. With respect to construction, builders need to fulfill all the basic requirements of the sports infrastructure in three years and also construct all residential and commercial facilities in five years.

The representatives of the real estate industry have responded favorably to the authority’s decision to approve the site plans because it will generate enormous value for the local real estate sector through restarting registry and construction processes. The implementation of the updated layout plan provides enormous relief to more than 25,000 homebuyers who have been waiting for many years for the possession of their homes.