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Noida Extension Buyers Unite Against Builders

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Noida Extension Buyers Unite Against Builders

Last updated: August 29 2012
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  • Re : Noida Extension Buyers Unite Against Builders

    I recommend all of you to please join the "Noida Extension Flat Buyers Association" , which has been formed by about 450 individuals who have booked flats in the Noida Extension Area. And it appears they have fixed a meeting in Community Hall Sec 61 , Noida to discuss further course of action.Also it is a forum which will help us voice our concern & raise a case in the court if the situation arises. Here is the URL for the same :

    ::NEFBWA-Noida Extension Flat Buyers Welfare Association::

    I have already joined the same. Another intresting thing about this association is that they have the copy of the judgement of both the High Court as well as the Supreme Court available on their website.

    So Please join this as it will help us connect better among ourselves & also form a solid platform to seek legal action if needed.

    Thanks & Regards,

    Comment


    • Re : Noida Extension Buyers Unite Against Builders

      Noida fiasco:the buyer-banker perspective
      Attached Files

      Comment


      • Re : Noida Extension Buyers Unite Against Builders

        Bisrakh holds key to Noida Extn fate


        The quashing of the “forced acquisition” of 156 hectares of land in Shahberi village has jeopardised 6,500 houses being built by key real estate players. Now, hundreds of farmers in the neighbouring village of Bisrakh, where more than a dozen builders have planned or launched
        their projects, have moved court, seeking quashing of land acquisition.
        Bisrakh has caused worries to the builders and the Greater Noida Authority as about 50,000 houses are planned in the village. In 2008, the Greater Noida Authority had acquired 608 hectares of land in Bisrakh.

        Farmer leader Manveer Bhati said, “In May, 21 farmers moved court. They sought quashing of 30 hectares of land. They have obtained a stay order. Early this month, 110 farmers had moved court, seeking the acquisition of 40 hectares of land. The petition will be heard on July 21. Even on Friday, 250 farmers left for Allahabad to file petitions in the high court.”

        The court is hearing the petitions separately. The petitioners say the land in these cases was acquired using the urgency clause of the Land Acquisition Act — something held illegal by the court and used as a ground to quash the land acquisition in Shahberi.

        The petitions also say the land use was changed to suit private builders. Unlike Shahberi, where 85% farmers had not accepted compensation, half of the 500 affected families had accepted compensation in Bisrakh.
        But they are ready to pay it back for their land. They say they were forced to accept compensation. The outcome of these cases will decide the fate of Noida Extension, where 2,000 acres of land has been acquired from farmers and allotted to builders for the construction of luxury houses.

        HT

        Comment


        • Re : Noida Extension Buyers Unite Against Builders

          चिपियाना बुजुर्ग के तीन किसानों को मिला स्टे

          ग्रेटर नोएडा। भूमि अधिग्रहण के खिलाफ अब किसान जाग उठे हैं और प्राधिकरण के विरोध में न्यायालय की शरण में जा रहे हैं। न्यायालय ने अब चिपियाना बुजुर्ग गांव के तीन किसानों को राहत देते हुए जमीन पर यथा स्थिति रखने का आदेश दिया है। यह आदेश चार जुलाई को कोर्ट ने दिया है।
          पीड़ित किसानों के अधिवक्ता ओमवीर बैसोया ने बताया कि प्राधिकरण द्वारा चिपियाना बुजुर्ग गांव की अर्जेसी लगाते हुए धारा-४ का प्रकाशन कर दिया गया और किसानों को लगा कि अब प्राधिकरण उन्हें सुन नहीं रहा है। जिसके चलते किसान हाईकोर्ट की शरण में चले गए। अधिवक्ता ने बताया कि कोर्ट ने चिपियाना बुजुर्ग के किसान तेजवीर, स्वतंत्र सिंह और गजेंद्र सिंह को राहत देते हुए आदेश दिया है कि उनकी जमीन पर कोई भी प्राधिकरण अग्रिम आदेश तक कब्जा नहीं ले सकेगा। इसके अलावा उक्त जमीन पर यथा स्थिति का आदेश दे दिया गया है।

          - Amar Ujala

          Comment


          • Re : Noida Extension Buyers Unite Against Builders

            Hello
            I just wanted to know whether only residential projects are being hampered by the agitating farmers or the commercial projects too are affected by these stay orders? Also, what about the projects on the Yamuna expressway? Are they too falling in this area of contention?

            Comment


            • Re : Noida Extension Buyers Unite Against Builders

              I guess we will have most of the answers to our questions by 21st evening. Let's keep our fingers crossed.

              Comment


              • Re : Noida Extension Buyers Unite Against Builders

                Originally posted by KapilRS View Post
                Dear Mogammo,

                Instead just commenting and putting your views u shuld go into depth becoz not only u many peoples are reading this forum and making their decisions. As far as i know abt the gaur project..land was acquired in 2002 by GNA (vill - Haibatpur, As confirmed by Gaur & GNA,), also kindly read the allabhad HC verdict, same has been mentioned cleary and handed over to Gaur in 2009. Land was acquired under Sec 6 not in Sec 17 ..it was clearly written in buyer's agreement. Nobody knows wht will happen in future but as of today Gaur is safe one. So please go in depth, everyone knowshalf knowledge very dangerous.
                can you please tell me on which page it is written?

                Comment


                • Re : Noida Extension Buyers Unite Against Builders

                  DDear Investors,

                  There is a program organized by on 22nd JULY (i.e. today) AT 7 PM by AAJ TAK
                  at GOLF HOMES, SITE OFFICE

                  And there is a meeting on Sunday 24th July at 2 pm GOLE CHAKKAR. The Investors are gathering in huge numbers. But we need more and more people to join.

                  Please circulate this information. We need support. This issue is spreading like fire and in today's papers it states that its reaching Greater Noida and Noida too. Please we need support! We all need to be together before the our dreams are ruined, shattered and smashed!!!

                  My sincere request to people whose projects are not under dispute right now to also come forward for support. We cant see entire Noida doomed!!

                  Please put this information on yahoo groups also. We need to be united like farmers. This is the last chance to save our dream home. After 26th, we can fight for refund if required but this is last time we can save our home!! Please be there! Lets at least give it a last shot!
                  Thanks....

                  Comment


                  • Re : Noida Extension Buyers Unite Against Builders

                    CREDAI to challenge High Court Order

                    Below is verbatim transcript of interview of Pankaj Bajaj, President of CREDAI NCR with CNBC-TV18’s Shereen Bhan on 20.07.2011.

                    Q: Real estate developers are in a state of shock at this point in time but you have now decided to take legal recourse and the options for approaching both the Supreme Court and the Allahabad High Court?
                    A: Legal recourse is one of recourses that we have. We are exploring every possibility to resolve the whole situation is right now.

                    Q: What could be the other options?
                    A: We could talk with the authorities for a settlement; we could seek some compensation from them. We could get them to allot alternate pieces of land. We could also get the authority to come to a negotiated settlement with the farmers.

                    Q: Is the authority willing to even talk to you at this point in time?
                    A: Of course! We are in constant touch with the authority and they realise that just like our buyers are in a soup, so are we as buyers, we are the authorities buyers and hence, we are in a soup too.

                    Q: What option do you think is mot feasible and practical at this point in time given the state of affairs that the Greater Noida authority itself finds itself in and they are going to have trouble acquiring new tracks of land to give to the developers and that’s going to be a long process, isn’t it?
                    A: What we have been told informally that the farmers are not really interested in taking back the land in as much as they want higher compensation. Because a lot is at stake for the authorities as well so they might go for a negotiated settlement with the farmers.

                    Q: So will you then negotiate with the farmers yourself. Will the authority negotiate on your behalf and will you then workout a better compensation for the farmers?
                    A: The charter of the two authorities Greater Noida and Noida bar the members from direct interface with the farmers, though we can have formal channels with the farmers. The actual formal interface would have to be between the authority and the farmers.

                    Q: What is the legal opinion that you have got so far because you have got the Allahabad High Court order, you have got a Supreme Court order. What are lawyers telling you? What are experts telling you about where you stand currently?
                    A: There is some element of surprise and in that third and fourth party interests have not been considered while giving this order. I am sure the honorable High Court has its reasons and we are yet to read the order but I don’t think the interest of the developers and the end customers have been adequately represented.

                    Q: Would you approach both the Supreme Court as well as the Allahabad High Court?
                    A: Yes.

                    Q: What is at stake here because when Shaberi case happened the reports that we saw suggested that there were projects close to Rs 40000 crore that were stranded on account of this. Now this is another 608 hectares being done away with in that sense. What is the cost that we are talking about here?
                    A: The numbers are little exaggerated. The total number of apartments which are likely to get affected in Noida Extension is between1 lakh to 1.5 lakh apartments. Typical apartment ticket size would be Rs 20 lakhs, so we are talking about Rs 20000-30000 crore in total and roughly half of that - orders are already been passed on.

                    Q: After Shaberi happened, real estate developers came and said that we will either relocate customers or we will compensate them, refund their money with interest. Does that still stand? Because where do you relocate them is also a question, or even this has been done away with?
                    A: I don’t think that’s looking feasible in the very short term.

                    Q: Compensation or relocation?
                    A: We had builders who had five projects in the area; one of them got affected as they could have shifted the allottees of the affected project in the other four. But if all five get affected where does he relocate them to. The other thing is the money that is collected from the customers and the whole business model depends on collecting money in advance from the customers and investing in the land and construction. That money has been invested; it’s not lying in the bank.

                    Q: That’s very important because you can no longer assure buyers who had invested in these apartments of compensation or relocation?
                    A: I am not saying that. I am saying that some kind of settlement would have to come with the authority. The solution to this problem now lies with the authority and the government. They would either have to give us alternate pieces of land or compensate us for the expenditure that we have done on behalf of the customers in constructing half of the buildings.

                    Q: What are banks saying because you have got consumers who have taken EMIs, loans to actually pick up these flats, real estate developers themselves who have taken loans from banks? What are banks saying at this point of time. How worried are they?
                    A: The banks are worried but also understand that construction had not progressed to a very advanced level in these projects. So the bank exposure is not to the extent that otherwise would have been in such projects.

                    Q: So will there be a decision on moving both the High Court and the Supreme Court by tomorrow, in the next 24 hours?
                    A: Yes.

                    Q: Also the possibility of a negotiated settlement with the Greater Noida authority?
                    A: Yes.

                    Comment


                    • Re : Noida Extension Buyers Unite Against Builders

                      Originally posted by bundolo View Post
                      Below is verbatim transcript of interview of Pankaj Bajaj, President of CREDAI NCR with CNBC-TV18’s Shereen Bhan on 20.07.2011.

                      Q: Real estate developers are in a state of shock at this point in time but you have now decided to take legal recourse and the options for approaching both the Supreme Court and the Allahabad High Court?
                      A: Legal recourse is one of recourses that we have. We are exploring every possibility to resolve the whole situation is right now.

                      Q: What could be the other options?
                      A: We could talk with the authorities for a settlement; we could seek some compensation from them. We could get them to allot alternate pieces of land. We could also get the authority to come to a negotiated settlement with the farmers.

                      Q: Is the authority willing to even talk to you at this point in time?
                      A: Of course! We are in constant touch with the authority and they realise that just like our buyers are in a soup, so are we as buyers, we are the authorities buyers and hence, we are in a soup too.

                      Q: What option do you think is mot feasible and practical at this point in time given the state of affairs that the Greater Noida authority itself finds itself in and they are going to have trouble acquiring new tracks of land to give to the developers and that’s going to be a long process, isn’t it?
                      A: What we have been told informally that the farmers are not really interested in taking back the land in as much as they want higher compensation. Because a lot is at stake for the authorities as well so they might go for a negotiated settlement with the farmers.

                      Q: So will you then negotiate with the farmers yourself. Will the authority negotiate on your behalf and will you then workout a better compensation for the farmers?
                      A: The charter of the two authorities Greater Noida and Noida bar the members from direct interface with the farmers, though we can have formal channels with the farmers. The actual formal interface would have to be between the authority and the farmers.

                      Q: What is the legal opinion that you have got so far because you have got the Allahabad High Court order, you have got a Supreme Court order. What are lawyers telling you? What are experts telling you about where you stand currently?
                      A: There is some element of surprise and in that third and fourth party interests have not been considered while giving this order. I am sure the honorable High Court has its reasons and we are yet to read the order but I don’t think the interest of the developers and the end customers have been adequately represented.

                      Q: Would you approach both the Supreme Court as well as the Allahabad High Court?
                      A: Yes.

                      Q: What is at stake here because when Shaberi case happened the reports that we saw suggested that there were projects close to Rs 40000 crore that were stranded on account of this. Now this is another 608 hectares being done away with in that sense. What is the cost that we are talking about here?
                      A: The numbers are little exaggerated. The total number of apartments which are likely to get affected in Noida Extension is between1 lakh to 1.5 lakh apartments. Typical apartment ticket size would be Rs 20 lakhs, so we are talking about Rs 20000-30000 crore in total and roughly half of that - orders are already been passed on.

                      Q: After Shaberi happened, real estate developers came and said that we will either relocate customers or we will compensate them, refund their money with interest. Does that still stand? Because where do you relocate them is also a question, or even this has been done away with?
                      A: I don’t think that’s looking feasible in the very short term.

                      Q: Compensation or relocation?
                      A: We had builders who had five projects in the area; one of them got affected as they could have shifted the allottees of the affected project in the other four. But if all five get affected where does he relocate them to. The other thing is the money that is collected from the customers and the whole business model depends on collecting money in advance from the customers and investing in the land and construction. That money has been invested; it’s not lying in the bank.

                      Q: That’s very important because you can no longer assure buyers who had invested in these apartments of compensation or relocation?
                      A: I am not saying that. I am saying that some kind of settlement would have to come with the authority. The solution to this problem now lies with the authority and the government. They would either have to give us alternate pieces of land or compensate us for the expenditure that we have done on behalf of the customers in constructing half of the buildings.

                      Q: What are banks saying because you have got consumers who have taken EMIs, loans to actually pick up these flats, real estate developers themselves who have taken loans from banks? What are banks saying at this point of time. How worried are they?
                      A: The banks are worried but also understand that construction had not progressed to a very advanced level in these projects. So the bank exposure is not to the extent that otherwise would have been in such projects.

                      Q: So will there be a decision on moving both the High Court and the Supreme Court by tomorrow, in the next 24 hours?
                      A: Yes.

                      Q: Also the possibility of a negotiated settlement with the Greater Noida authority?
                      A: Yes.
                      FQA tells lot and clear the intention of Buyers
                      If You Guys Are Going To Be Throwing Beer Bottles At Us At Least Make Sure They Are Full

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