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Current Status of Noida Extension

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Current Status of Noida Extension

Last updated: July 11 2011
16 | Posts
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  • #11

    #11

    Re : Current Status of Noida Extension

    Price increase or not, saving your money should be the most important thing right now. Why you want to invest here when there are tons of other places in NCR to invest? Stay away and come back if everything clears up, which can take few years if the case goes to the court.

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    • #12

      #12

      Re : Current Status of Noida Extension

      Manoj Bhai,

      Looks like this mess is just getting started now. Court case even in SC would take years to solve and this would impact investors/end-users a lot. On top of it, lot of builders are also going to apex court which would complicate the situation further. Noone know you will win at the end - investors, builders, NA or farmers.



      Originally posted by MANOJa View Post
      The Greater Noida Authority has moved the Supreme Court against the order of the Allahabad High Court in the Shahbery land acquisition case by filing special leave petitions (SLPs).

      Some builders are also learnt to have moved the apex court against the high court decision.

      On May 12, the Allahabad High Court cancelled the acquisition of 156 hectares in Shahbery village.

      The next day, acquisition of another 72 hectares in Surajpur village was denotified by the high court.

      On May 30, acquisition of 170 hectares in Gulistanpur was also cancelled. The biggest jolt to the Greater Noida Authority was the cancellation of the acquisition process itself.

      This created panic among the builders.

      The GNIDA intends to file 31 SLPs.

      Officials are compiling details of encroachments in the area notified by the Greater Noida Authority. These details will be presented before the apex court to explain the use of the emergency clause for the acquisition of land.

      Though the Greater Noida Authority has tried to persuade the farmers for direct sale of land to builders, so far only 12 farmers with a mere 4 hectares have given their consent for it.

      Having failed to convince the farmers for direct sale of land, the authority decided to move the SC.Farmers have filed 31 SLPs in the Allahabad High Court against land acquisition in Shahbery.

      The authority will also file 31 SLPs in the apex court within a day or two, officials said.



      The Tribune, Chandigarh, India - Delhi and neighbourhood

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      • #13

        #13

        Re : Current Status of Noida Extension

        As said earlier, better wait for the haze to clear up .

        Waiting for sometime & watching the situation, looks the best policy, as for now .

        As, djvjain, if safety of yr. investment is the prime concern for u, refrain from investing in this region, till the picture gets clear .

        To put it in a different way, investing right now, could be a double edged sword, u may get severely wounded or u may get lucky & earn a decent packet . Depends on yr. risk taking appetite, but for most, it is a touch me not situation, as for now .


        Originally posted by jags123 View Post
        Manoja,

        Looking at all these developments should a end user with a budget of 10 Lakhs in hand and rest loan enter noida extension right now with booking or wait for some time ?Whats the opinion?Are prices going to reduce because of all these or they will remain stagnant only?
        Please read IREF rules | FAQ's

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        • #14

          #14

          Re : Current Status of Noida Extension

          Govt blinks, more Noida farmers to get plots

          Under continued pressure from farmers, the state government has authorised the development authorities in Noida and Greater Noida to “interpret anew” (read revoke) its earlier order, which had denied farmers the right to be allotted developed plots, in addition to cash compensation, in lieu of their land acquired.

          The order had said farmers benefiting from a lease back policy (transfer of abadi land, mistakenly acquired by the authority, back to farmers) will not get developed land plots and reservation in housing schemes.

          Farmers had threatened an indefinite agitation from June 26 against this issue.

          Now, thousands of farmers will benefit from this change in stance. Noida and Grater Noida chief executive officer (CEO) Rama Raman said, “Yes, we have decided to give plots even to those who will be getting back their abadi land as part of our lease back policy. The plots will measure 5% of the total land acquired — this does not include the land leased back.”

          Sane fate

          Apart from farmers benefiting from the lease back policy, there are thousands who have been awaiting allotment of developed plots. Part of what is termed abadi land by farmers has been identified as encroachment by the administration.

          The authority says till this dispute is solved, developed land plots allotments cannot be made. On May 16, hundreds of farmers stormed builders’ construction sites in Noida ans stopped work on more than 20,000 dwelling units because they had not been given the said plots. Farmer leader in Sarfabad, Naresh Yadav, said, “In our region alone, there are more than 800 claims of the 5% plots pending since 2005.
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          • #15

            #15

            Re : Current Status of Noida Extension

            Thanks to all for sharing their views. Just to update, I have already invested in a project in Oct'10 but have only paid 10% advance booking and nothing else.

            Now as we have some decisions from Hn. SC, is there any change of views for NE? I heard from some ppl that many of the Builders have just stopped the sale of the land, not because of the verdict but because of anticipation of rates being increased in near future.

            NE is a very lucrative location in NCR and ofcourse ppl want to invest in near future may have to shell more amount (30-40%) due to increased circle rates etc. Reason being, builders will buy the land higher price directly from the farmers and of-course the same will be handed over to the end customer high premium.

            Farmers also doesnt have any choice except to sell out their land to the builders. Because their land is no more in farming condition due to excavation. Further, due to this whole episode, Authority is also in a kinda vengeance condition and thus they will not allow these farmers to sell their lands in smaller parts (100-200-500 yards area plot sizes). This is evident from the statement of Authority CEO.

            No idea wht will happen tomorrow. On Sunday, Farmers have done a Mahapanchayat and decided to move to SC for rest of the land also. I am sure in next 30 days time we will have a clear picture on all the projects of NE.

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            • #16

              #16

              Re : Current Status of Noida Extension

              Eco Village II - Money Refund Meeting

              Hello all,

              I am also a victim who have invested in Eco Village II.

              It is a request to all the people who have invested in Eco Village II that please join below group and come to a meeting so that we can combinely ask for what we want instead of

              1. Investing again in their NE or Noida projects (I hate this word now!!!)
              2. Deduct our precious 15% money

              Please raise our voices together, we WILL succeed...

              https://groups.google.com/group/eco-...8822ad21?hl=en

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