Parsvnath Privilege Pi Greater Noida, Greater Noida

Parsvnath Developers Ltd. launched Parsvnath Privilege Phase IV in Eldeco Green Meadows, Sector-PI Greater Noida in March 2012. The project is spread across 25 acres and comprises 1036 units.

The Supreme Court ordered Parsvnath builders to deposit an additional ₹10 crores related to the Parsvnath Exotica project in Ghaziabad, with a deadline of December. This order came after the court rejected Parsvnath's arguments and directed the deposit to compensate investors.

The NCLAT addressed an appeal by IL & FS Financial Services Ltd. against an order related to insolvency proceedings against Parsvnath Developers Ltd. The Supreme Court had stayed proceedings before the NCLT, and the NCLAT clarified that the stay order might not cover all financial creditors.

Homebuyers in Greater Noida protested over delays in the registry of their flats due to an ongoing dispute between the builder and local authorities. Residents threatened to discontinue payment of maintenance charges if the issue was not resolved.

Homebuyers from 16 housing societies in Greater Noida West protested against delayed registry of their flats, alleging a nexus between the builder and the authority. They claimed that their demands have not been heard for over a decade and that promises made by political leaders during elections were not fulfilled.

Residents of various housing societies in Noida and Greater Noida initiated a "No Registry, No Vote" campaign to voice their issues against local development authorities and their Member of Parliament due to unfulfilled promises of flat registries. The campaign gained traction in multiple societies, including Himalayan Pride in Greater Noida West.

The National Company Law Appellate Tribunal (NCLAT) dismissed a plea filed by four unit buyers of Parsvnath Landmark Developers to initiate insolvency proceedings against the subsidiary of Parsvnath Developer. The NCLAT upheld the NCLT's order, which rejected the plea because the number of petitioners was insufficient.

Sanjeev Jain, the director and CEO of Parsvnath Landmark Developers, was arrested from Delhi airport after a 60 km chase, according to Delhi police.

The Supreme Court directed the Greater Noida Industrial Development Authority to cooperate with homebuyers in reviving an abandoned housing project. The court asked the Authority to provide details of financial demands to determine proportional charges for each homebuyer.

The Supreme Court confirmed the filing of corporate insolvency resolution proceedings (CIRP) against Bhasin Infotech and Infrastructure Private Limited and Grand Venezia Commercial Towers Private Limited, reaffirming homebuyers' and commercial allottees' legal rights in stalled real estate projects. The decision arose from a 2021 petition by 141 allottees of the Grand Venezia Commercial Tower project in Greater Noida, alleging delays since 2013 and a lack of completion certificates.

At least 350 homebuyers of Shivalik Homes Society in Greater Noida warned they would intensify their agitation over delays in flat registration. The residents are protesting against the developer, who failed to clear financial dues and allow flat registration, despite residents moving into their homes ten years ago without occupancy or completion certificates.