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IREF® - Indian Real Estate Forum > Real Estate in India > Real Estate Greater Noida > Real Estate Yamuna Expressway > BAD News : HC Stay Orders at Yamuna Expressway 13,000 Authority Plots
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Old October 24 2011, 05:09 PM   #31
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Originally Posted by Magadh_Pride View Post
Can you please come up with some objective points or rebuttals for what I have posted?

Else, I why should anyone be shedding tears for so called "investors" with unlimited greed..bab20 45
Yes it is 10/10 greed...no body invests for PHD...even when someone says he is buying for end use will check prices on daily basis and will still be happy with increase in rates.

P.S. - I have invested in Yamuna expressway just for so called "greed".

 
Old October 24 2011, 07:20 PM   #32
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Originally Posted by Magadh_Pride View Post
Before you start attacking me, I am no GNIDA broker please

Just trying to have a healthy discussion with people who can bring forward sensible points to have one !
So you think all people who invested in gurgaon, noida, greater noida are end users??? sir je you are entirely wrong.
And since when you have become a judge to tell people that who soever have invested in YEA are greedy... your attitude smacks of " I know all and am GOD of investments and you lesser mortal who invested in YEA are lousy greedy fools. Its only in hindsight that you are showing this superlative judgement of yours...
Pls take it in lighter vein
 
Old October 24 2011, 07:45 PM   #33
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On the occasion of Diwali and in the Indian tradition of respecting elders, no arguments with Dadas and Know alls !




May you do well to justify your judgements and me mine...

I will be pleased to see people having holiday homes in their 100 yards plots surrounding a golf-course
 
Old October 24 2011, 08:02 PM   #34
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Quote:
Originally Posted by Magadh_Pride View Post
On the occasion of Diwali and in the Indian tradition of respecting elders, no arguments with Dadas and Know alls !




May you do well to justify your judgements and me mine...

I will be pleased to see people having holiday homes in their 100 yards plots surrounding a golf-course
I appreciated and respect your mature remarks on my comments ... and wishing you too and all the members happy and prospererous deewali.
 
Old October 25 2011, 06:12 AM   #35
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Now, Yamuna e-way farmers gear up for court battle

NOIDA: Farmers of Noida and Greater Noida may remain divided on approaching the Supreme Court over the land row, however their counterparts in villages along the Yamuna Expressway are gearing up for their court battle. The hearing of nearly 250 petitions of 16 villages is scheduled to be heard in the first week of November.

Yamuna Expressway farmers are not willing to settle for anything less than compensation at par with the market rate of land and want to bring officials of Yamuna Expressway Industrial Development Authority ( YEIDA) to book for wrongly acquiring their land.

Farmers from Atta Gujran, Jaganpur, Naurangpur, Dankaur, Salarpur village, among others, are demanding a judicial enquiry in the matter. As the farmers have threatened to stall construction work and development activity in the area, the fate of many upcoming projects are at stake.

Farmers allege that their land was acquired between 2007 and 2010 under the pretext of industrialization, but later it was diverted for a F1 race track and residential projects. "Even before the acquisition was finalized, the Authority had already plotting our lands. The government even threatened to acquire our land forcibly if we did not give them up on our own. The Authority did not give us a chance to object to the acquisition. The compensation rate should have been at par with market rates, but farmers have been paid a measly compensation," said farmer Rupesh Verma, who has spearheaded the land row fight from the chief minister's home village Badalpur.

"We were cheated in the name of development and paid a meagre compensation of about Rs 800 per sqm. During the acquisition process, Authority officials promised to regularize the abadi (inhabited) areas and give us 7 per cent of developed plots. But there has been no response from the Authority. Now we will meet them in court and not let up till justice is done even if we have to approach the Supreme Court for that," said Verma.

However, officials of the Authority claim that land acquisition for Yamuna Expressway and other proposed projects was taken up by it in accordance with the Land Acquisition Act with the consent of farmers, allowing land owners to mutually negotiate rates with the Authority.


-TOI
 
Old October 25 2011, 07:51 AM   #36
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What about the YEIDA plots...

Has the authority fully acquired and paid up for them before they were launched in 2008-09? I recall having read that some portion of sec-18 is under dispute.

Please help understand as generally govt plots are supposed to be more secure... but then there are hardly any "original allottes"... many people have already sold them and the new owners stand to loose the premium if any mishap happens
 
Old October 25 2011, 09:53 AM   #37
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YEIDA plots are also under the heat.

“Farmers allege that their land was acquired between 2007 and 2010 under the pretext of industrialization, but later it was diverted for a F1 race track and residential projects. "

Yes… Authority plots are supposed to be more secure but current land acquisition issue can spoil any property…We have seen same in NE in which Patwari land acquisition was canceled by court in Aug and 3 Authority scheme got impacted… Sector 2 (2200 plot approx)… sector 3 (Plots & built-up houses)…

In case land acquisition is canceled than allotment on land is by default is null & void and authority will have to give back money to allottee with 4-8% interest (as per authority’s policy).

In case of re-sale…. Buyer is caught in very tricky situation… Yes… any legal documentation is also stand null/void if allotment is already canceled by HC but buyer may have to put his all efforts to get his money back from allottees…which is not a easy task. If Allottee is moved to other city/out of country and buyer’s money is stuck.

Worst case if plot is sold 2-3 times…. So last buyer will have very bad nightmare..
 
Old October 25 2011, 08:13 PM   #38
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Magadh Pride you are right about the acquisition issues in YEIDA plots. I M not sure if it is sec 18 of 20 but some of the blocks in one have these sectors have been moved. Of course the allotees are no where close to be given possession and it will be many years to do that even if everything goes right. People have bought these plots in secondary Market even without going to the site, on the basis of just looking on the map. Also even if you wanted to go to see the plot there are no roads or plots that exist. The whole region is in the middle of a big bubble and is a very high risk investment. Allotment was at the rate of 4750 per metre and the premium went up to as high as 10000 per metre for good located 300m plots. The prices have cooled down now but it is important to make sure that you have a clean deal as lots of plots have ATL done and can't be sold without permission of the authority. It is a good avenue for people with lots of coloured money to park their funds for long term investment needs e.g. to meet goals like their children's marrige after 20 years. What helps is that the White component is very low and has to be paid in instalments over 8 years.
If you had 2 crores lying around in White money then going for a 4000 m plot would have allowed you to make a nice country house or could have been used commercially.( sorry about dreaming and going a bit overboard in the last few lines)
 
Old October 26 2011, 10:35 AM   #39
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Thanks... Looks like its not for me (and many others like me)



Quote:
Originally Posted by Trickcyclist View Post
Magadh Pride you are right about the acquisition issues in YEIDA plots. I M not sure if it is sec 18 of 20 but some of the blocks in one have these sectors have been moved. Of course the allotees are no where close to be given possession and it will be many years to do that even if everything goes right. People have bought these plots in secondary Market even without going to the site, on the basis of just looking on the map. Also even if you wanted to go to see the plot there are no roads or plots that exist. The whole region is in the middle of a big bubble and is a very high risk investment. Allotment was at the rate of 4750 per metre and the premium went up to as high as 10000 per metre for good located 300m plots. The prices have cooled down now but it is important to make sure that you have a clean deal as lots of plots have ATL done and can't be sold without permission of the authority. It is a good avenue for people with lots of coloured money to park their funds for long term investment needs e.g. to meet goals like their children's marrige after 20 years. What helps is that the White component is very low and has to be paid in instalments over 8 years.
If you had 2 crores lying around in White money then going for a 4000 m plot would have allowed you to make a nice country house or could have been used commercially.( sorry about dreaming and going a bit overboard in the last few lines)
 
Old October 26 2011, 10:40 AM   #40
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Originally Posted by Veeru Dada View Post
So you think all people who invested in gurgaon, noida, greater noida are end users??? sir je you are entirely wrong.
And since when you have become a judge to tell people that who soever have invested in YEA are greedy... your attitude smacks of " I know all and am GOD of investments and you lesser mortal who invested in YEA are lousy greedy fools. Its only in hindsight that you are showing this superlative judgement of yours...
Pls take it in lighter vein
well said
 
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