Just saw the confirmed news on Zee TV that the Allahabad HC has STAYED ON CONSTRUCTION in Sector 1, Greater Noida (This is the Noida Extension Area). Many builders projects, including Supertech Eco Village 1 are under construction here. Thousands of buyers will be effected.

This has given way to a new dimension to the fight for land. I would rather say it is virtuyally a Doomsday for the NOIDA investors.
It is just a beginning, and many fresh Stay Orders will start pouring in. Investors should just keep away from Noida. NO NOIDA SECTORS (NEW, including 7.x and 100.x, gnida and YEA) ARE IMMUNE NOW! JUST KEEP AWAY FROM THEM.

IT IS MY ESTIMATE THAT IT WILL BE YEARS BEFORE THE SITUATION CAN BE RESOLVED. IT MAY TAKE EASILY 10-15 YEARS FOR THE LEGAL BATTLES TO END AND CONSTRUCTION COST WILL GO MANYFOLDS BY THEN - AND BUILDERS MAY NOT SUSTAIN THE PROJECTS FOR THAT LONG AT ANY COST.

For those people who have taken loan (for officially announced litigated properties UNDER STAY), the best will be to talk and start NEGOTIATING with the banks. For others, try to hold the further payments to the builder whose properties are in litigation and awaiting "DATES OF HEARING" (All dates of hearings are important now, because there are now much greater chances that with the hearing dates, HC will put stay order on construction on these properties).
Read more
Reply
109 Replies
Sort by :Filter by :
No replies found.