Parsvnath Privilege Phase 2 Pi Greater Noida, Greater Noida

Parsvnath Developers Limited launched Parsvnath Privilege Phase-II, located in GN Sector Pi, Greater Noida, comprising 4 towers and 180 residential units of 2 and 3 BHK apartments, with unit sizes ranging from 947 to 1238 square feet across a total area of 5.27 acres. The project's RERA number is UPRERAPRJ6067, ensuring a secure investment.

Parsvnath Developers Ltd. launched Parsvnath Privilege Phase II in Sector PI I & II, Greater Noida, offering 3 BHK apartments within a 5.20-acre development featuring 180 units. The project is located off Sector PI I & II, behind Wipro SEZ, providing connectivity to IT hubs.

Parsvnath Developers Ltd. filed a Writ Petition No.69184 of 2010, M/s Parsvnath Developers Ltd. v. Greater Noida Industrial Development Authority & Anr. challenging the order/letter dated 15.9.2010 issued by the GNIDA imposing penalty upon the petitioner to the tune of Rs.8,40,25,980/- for failing to get the lease deed executed by 22nd October, 2008, and also 2% additional late fees in case of further delay after 21st October, 2010, as well as the cancellation notice dated 17th March, 2011 issued by GNIDA. The petitioner had also sought a direction for registration of the lease deed in favour of the petitioner.

The Greater Noida Authority cancelled the allotment of two land parcels to Parsvnath Developers due to outstanding dues of approximately ₹281 crore and non-completion of projects. The authority will take possession of the land plots, located in Sector Pi, and re-allot them through a new scheme.

Homebuyers of over 15 group housing projects in Greater Noida and Noida Extension protested at Ek Murti Chowk on December 25, 2022, demanding the handover of their flats and completion of the stalled registration process. The primary reason for the protest is the stalled registration process due to developers failing to pay land dues to the development authority.

More than 50 homebuyers from Greater Noida West protested at Ek Murti Chowk against pending registries, marking the 25th week of their protest. Residents from societies including Raksha Addela, Ajnara Homes, Casa Greens 1, and Eco Village 1, 2 and 3 participated.

Homebuyers at the Hemisphere housing project in Greater Noida's sector 27 protested against a six-year delay in project delivery. The developer, Royalgolf Link City Projects Private Limited, promised completion in three-and-a-half years but has yet to deliver any units.

Parsvnath Developers will enter into a co-developer agreement with OPAA Realty under the Uttar Pradesh Government's Co-Developer Policy to expedite completion of its Parsvnath Palacia project in Sector-Pi, Greater Noida. GNIDA has granted the necessary co-development permissions, and OPAA Realty will take responsibility for completing construction using its resources.

The Supreme Court dismissed appeals by former directors of Bhasin Infotech & Infrastructure Pvt Ltd and Grand Venezia Commercial Towers Pvt Ltd, confirming CIRP under the Insolvency and Bankruptcy Code (IBC). The court found that the developers failed to deliver functional units and misled the court regarding the project's completion status. The case originated from a 2021 petition by 141 allottees alleging delays since 2013, absence of completion certificates, and non-payment of promised returns.