Noida Extension Buyers Take on Builders

Home buyers who have invested in Noida Extension Real Estate projects are connecting online through discussion forums, facebook and other websites to vent out frustration against the builder lobby. Almost 100 people have signed up as members of a Facebook group that calls itself, 'Noida Extension Owners and Members Association'. The members include professionals from all walks of life.

NEOMA - Noida Extension Owners And Members Association is Noida extension owners and member association. The purpose and objective of NEOMA is to keep updated to all the Future residents of the Noida /Noida Ext. based on the users feedback. User can make their decision, owners can raise their voice in case of any issues.

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Supreme Court - Noida Extension News

Guyz look at Zee news. Noida extn ko rahat nahi....

नोएडा एक्सटेंशन को नंदीग्राम बनते नहीं देख सकते: SC

*नई दिल्ली। *सुप्रीम कोर्ट ने आज नोएडा एक्सटेंशन जमीन अधिग्रहण मामले में कहा
कि नोएडा एक्सटेंशन को दूसरा नंदीग्राम नहीं बनने दिया जाएगा। कोर्ट ने अपनी
टिप्पणी में कहा कि सरकार को जमीन अधिग्रहण को लेकर अपनी मानसिकता बदलनी होगी।

सुप्रीम कोर्ट ने उत्तर प्रदेश सरकार से पूछा कि खेती की जमीन अधिग्रहण करने से
पहले क्या इस बात की कोशिश की गई कि बंजर जमीन का अधिग्रहण पहले किया जाए। इस
दौरान कोर्ट में सरकार और किसानों के तरफ के पक्ष कोर्ट में मौजूद थे। सुप्रीम
कोर्ट ने इस मामले की जल्द सुनवाई करने से इंकार करते हुए कहा कि इसकी सुनवाई 5
जुलाई को होगी।Guyz look at Zee news. Noida extn ko rahat nahi....

नोएडा एक्सटेंशन को नंदीग्राम बनते नहीं देख सकते: SC

*नई दिल्ली। *सुप्रीम कोर्ट ने आज नोएडा एक्सटेंशन जमीन अधिग्रहण मामले में कहा
कि नोएडा एक्सटेंशन को दूसरा नंदीग्राम नहीं बनने दिया जाएगा। कोर्ट ने अपनी
टिप्पणी में कहा कि सरकार को जमीन अधिग्रहण को लेकर अपनी मानसिकता बदलनी होगी।

सुप्रीम कोर्ट ने उत्तर प्रदेश सरकार से पूछा कि खेती की जमीन अधिग्रहण करने से
पहले क्या इस बात की कोशिश की गई कि बंजर जमीन का अधिग्रहण पहले किया जाए। इस
दौरान कोर्ट में सरकार और किसानों के तरफ के पक्ष कोर्ट में मौजूद थे। सुप्रीम
कोर्ट ने इस मामले की जल्द सुनवाई करने से इंकार करते हुए कहा कि इसकी सुनवाई 5
जुलाई को होगी।Guyz look at Zee news. Noida extn ko rahat nahi....

नोएडा एक्सटेंशन को नंदीग्राम बनते नहीं देख सकते: SC

*नई दिल्ली। *सुप्रीम कोर्ट ने आज नोएडा एक्सटेंशन जमीन अधिग्रहण मामले में कहा
कि नोएडा एक्सटेंशन को दूसरा नंदीग्राम नहीं बनने दिया जाएगा। कोर्ट ने अपनी
टिप्पणी में कहा कि सरकार को जमीन अधिग्रहण को लेकर अपनी मानसिकता बदलनी होगी।

सुप्रीम कोर्ट ने उत्तर प्रदेश सरकार से पूछा कि खेती की जमीन अधिग्रहण करने से
पहले क्या इस बात की कोशिश की गई कि बंजर जमीन का अधिग्रहण पहले किया जाए। इस
दौरान कोर्ट में सरकार और किसानों के तरफ के पक्ष कोर्ट में मौजूद थे। सुप्रीम
कोर्ट ने इस मामले की जल्द सुनवाई करने से इंकार करते हुए कहा कि इसकी सुनवाई 5
जुलाई को होगी।
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  • the scenario you have outlined is becoming more and more possible day by day. whatever happens finally, cost of noida extension will go up dramatically. as USP of whole region was cheap homes near noida, it will be hard to move any inventory on new prices.
    Originally Posted by nitinthakur100
    As much as all buyers want to belive all will be well eventually, unfortunately, it may not turn out to to be so.

    If SC also quashes acquisitions, and early signs indicate so, basis the vacation benches comments, then the farmers will take the land back. There will be a cooling off period, and then as per the new UP Land Acquisition policy, a new set of builders, or even the same builder will have to start the purchase process afresh.

    In my estimation, the mkt price will settle at the currently prevalent price of farmland on NH24 near Ghaziabad, which is Rs 10,000/- p sq yrd upwards (AFAIK)

    So dont think that farmers will settle out of court with current builder. They are all smart folks now and would want to sell afresh since they can get a higher price then. So why settle for less?

    Existing construction doesnt mean much to the SC or the Central Govt.

    Look at the case of Lavasa, despite existing construction and state govt permissions in place, the enviornment ministry has stopped work, is not helping and the courts are also non-committal till now.

    Must more has already been invested in Lavasa construction and infra then NE. Who's bothered?

    Nitin
    CommentQuote
  • Originally Posted by nitinthakur100

    Existing construction doesnt mean much to the SC or the Central Govt.

    Look at the case of Lavasa, despite existing construction and state govt permissions in place, the enviornment ministry has stopped work, is not helping and the courts are also non-committal till now.

    Must more has already been invested in Lavasa construction and infra then NE. Who's bothered?

    Nitin



    Very true !!
    CommentQuote
  • Originally Posted by alokgarg
    the scenario you have outlined is becoming more and more possible day by day. whatever happens finally, cost of noida extension will go up dramatically. as USP of whole region was cheap homes near noida, it will be hard to move any inventory on new prices.

    At the same time other repercussion might be that authority will screw infra development of NE big time as a result of fall out.
    CommentQuote
  • Originally Posted by saurabh2011
    There is a difference in starting HOME LOAN now or after 2 Years. because interest saved during 2 years can be adjusted into PRINCIPLE amount of flat which will effectively reduce the PRINCIPLE AMOUNT of loan taken. I have adjusted each & everything in 9% effective extra burden due to 25% flat appreciation. and main difference will be that A will take home loan of 8.25 lakh after 2 years (with less risk & less mental tension in NE) and B had taken home loan of 8.00 Lakh 2 years before than A, rest all has already been adjusted because we only considered interest part.

    Starting a same amount of Loan at this time or after 2 years has no difference as per you but as per me it has difference. For making it more simple think reverse. Lets assume you given your friend 10 Lac and he agrees that we will pay 15,000 PM for 10 years, Now let me know will you prefer to take 15,000 PM from next month or after 24 months, duration will be same & amount paid by your friends will also be same but think and analyze which situation will be more beneficial to you and why (if you make RD of 15,000 PM for 10 years and then after 10 years make FD for next 24 months). Because this is a reverse case hence in this case if you (Bank) prefer to take installment from your friend (Client) from next month then if your friend is smart then he (Client) will always prefer to start installment after 24 months to you (Bank).

    Finance is a sea and at least in this forum we can not calculate everything. I myself has taken 3 home loans in last 6 years and due to making Banking Finence S/w love calculations a lot hence just shared my POV. I knew it very well that most person think that taking HOME LOAN now or after 2-5 years are actually same because we have to pay same amount in any case, even using the same way property dealer also convince clients more for DP price. 6 years before I was also convince with same way for my first NCR property and then I think how its same? however you calculate HOME LOAN for 10 years with 80% Loan amount, but I believe in taking small properties and then taking home loan just for 4-5 years with maximum 40-50% Loan amount.


    Hi Saurabh,

    Yes good calculation but I have one more point here to mention and need answer on that..

    Use Case :
    Home Cost :30 lac in 2011
    ROI : 10%
    Interest for 2 years: 600000

    Now if the rate od properties increased by 20% in this 2 year which is minimum according to the inflation and all

    Then, in 2013
    Home Cost: 36 lacs
    ROI: 10% or more
    Interest: NIL

    So what is the difference.

    Atleast in first case there is some chance of profit booking if rates increases more than 10% per year

    If someone wait for this principal amount then I think only .1 % people can buy properties at the age of 25-30.

    So which is better option 1 or option 2 (And option 2 is like first save the money and then purchase then I think that is not good beacuse noone wants to live in their own property at the age of 50 )

    Please comments on this !!! because this question comes in my mind always !!!!

    BR,
    P
    CommentQuote
  • Originally Posted by fritolay_ps
    This point is not logical sir… if you delay your home loan so does not mean that you are saving interest and you could add that amount in your saving… Because you again have to take loan for same period (10 years) after 2 year… so you can not consider “virtual money” in calculation..

    Second point… yes..if flat cost is increased by 10% in two years… still Mr. B is much good condition…He has to pay loan for 8 years and not for 10 years..and 10% appreciation (approx 1 lakh adjustment with bank loan interest)


    Hey Fritoley, Saurabh,

    I just posted a comment on this then I saw the comments by Fritolay and I am 100% with the Fritolay as the same I think...:D :D
    CommentQuote
  • Originally Posted by Prabal_India
    Hi Saurabh,

    Yes good calculation but I have one more point here to mention and need answer on that..

    Use Case :
    Home Cost :30 lac in 2011
    ROI : 10%
    Interest for 2 years: 600000

    Now if the rate od properties increased by 20% in this 2 year which is minimum according to the inflation and all

    Then, in 2013
    Home Cost: 36 lacs
    ROI: 10% or more
    Interest: NIL

    So what is the difference.

    Atleast in first case there is some chance of profit booking if rates increases more than 10% per year

    If someone wait for this principal amount then I think only .1 % people can buy properties at the age of 25-30.

    So which is better option 1 or option 2 (And option 2 is like first save the money and then purchase then I think that is not good beacuse noone wants to live in their own property at the age of 50 )

    Please comments on this !!! because this question comes in my mind always !!!!

    BR,
    P


    For own living it is always better to purchase property as soon as person can purchase and budget is allowed. While I am comparing home loan / FD kind of thinks, it doesn't means investment in property is not good, for long terms or for self use it is always good at least in NCR (5 main Cities) 100%. I only want to say that if we are looking NE / YEW market with very high risk then specially for NE (not for other areas like CR , RNE , Noida-xxx, Maneser , IP...) it will be better to purchase new flats in NE only after 2 years even if person face total 5-10% loss (after adjusting every thing) in 2 years. I think in 2 years (after UP election) situation of NE will be much clear, that where the future of NE is going on and in which direction or Time Frame.

    Most of the person purchase property for self living and such huge investment with lots of tension is not better for general public who is investing in his first home in NCR.
    CommentQuote
  • In this below case, Court ask to pay more amount.



    Pay more for acquired land

    A trial court has directed the Union government to pay higher compensation to three Delhi residents whose land was acquired to build a link road in the western periphery of the national capital.

    Additional district Judge Bhupesh Kumar directed the government to raise the compensation to Rs 21.37 lakh per acre from the current Rs 15.70 lakh per acre announced by the land acquisition collector.

    The courts orders came on three separate pleas by Rohini resident Raj and Mundka residents Sunita and Kartar Singh,challenging a May 2007 notification of the government fixing the compensation rate at Rs 15.70 lakh per acre for their Mind village land.The plea had sought directions to the Union government and the DDA to hike the compensation.

    The government had acquired their plot along with a total of over 200 bigha of land to build a 100-metre link road to connect National Highway-10 to Dwarka sub-city in Mundka- Bakkarwala and for other developmental plans.

    The ADJ hiked the rate of compensation,relying upon a 2010 order of his predecessor,who had raised the rate of compensation from Rs 15.7 lakh to Rs 21,37,017.75 per acre in a similar case for enhancement of compensation for a similarly placed piece of land acquired by the government.

    -TOI
    CommentQuote
  • Dear Nitinthakur,

    Are you even aware whether SC is deciding fate of all NE projects or just the land belonging to shahberi village?

    Do you think that if SC decides Shahberi village case in favour of farmers, other portions of land belonging to NE would also be handed over to farmers?

    If you think so, could you please explain the grounds?

    Have you read Shahberi Case ? Or Are you aware of the grounds on which HC has denotified the Shahberi village land?

    Do you have any idea of the section under which land has been acquired in other parts of NE?

    If you are not, then I would suggest that better get these informations and then predict anything.


    Originally Posted by nitinthakur100
    As much as all buyers want to belive all will be well eventually, unfortunately, it may not turn out to to be so.

    If SC also quashes acquisitions, and early signs indicate so, basis the vacation benches comments, then the farmers will take the land back. There will be a cooling off period, and then as per the new UP Land Acquisition policy, a new set of builders, or even the same builder will have to start the purchase process afresh.As much as all buyers want to belive all will be well eventually, unfortunately, it may not turn out to to be so.

    If SC also quashes acquisitions, and early signs indicate so, basis the vacation benches comments, then the farmers will take the land back. There will be a cooling off period, and then as per the new UP Land Acquisition policy, a new set of builders, or even the same builder will have to start the purchase process afresh.
    CommentQuote
  • No relief for investors in noida extension.Its better for investors to invest in some very safe place and some place which is already approved and developed.I will suggest vasundhara the next hot location for property investment.MArket research nd trend shows vasundhara will be the major location fro property rates hike.
    CommentQuote
  • Originally Posted by Dayalshobh
    No relief for investors in noida extension.Its better for investors to invest in some very safe place and some place which is already approved and developed.I will suggest vasundhara the next hot location for property investment.MArket research nd trend shows vasundhara will be the major location fro property rates hike.


    Absolutely right, next Vasundhara GZB will see one of highest appreciation in whole NCR region . I also think the same because location of Vasundhara is super. In Vaishali / IP , land & flat Rates appreciation register hightest in any NCR areas during last 3 years. in IP good residential plot areas rates has been jumped to 80K PSY and in Vaishali it has jumped to 90K PSY. I know its surprising but true, most of the person are from Noida itself and can visit good residential locations of IP / Vaishali anytime and can take the rate idea of Land/RTM flats. I was myself surprises when I visited Vaishali for my friend last week.

    Now next best areas in terms of appreciation will be Vasundhara for sure, see below Hindustan times news posted by me GZB forum.

    https://www.indianrealestateforum.com/forum/city-forums/ncr-real-estate/ghaziabad-real-estate/16541-vasundhara-gzb-seeing-a-rise-value-for-money-ht?t=18769
    CommentQuote
  • It sucks for investors/end-users as they suffer the most in this kind of mess.
    People would be really skeptical about investing anywhere the issues are. Some people could go to Gurgaon and Delhi as it is a safe destination and have provided(still giving) good ROI. Some others that can't afford these places will go even farther like Dharuhera, Bhiwadi etc.


    Originally Posted by Dayalshobh
    No relief for investors in noida extension.Its better for investors to invest in some very safe place and some place which is already approved and developed.I will suggest vasundhara the next hot location for property investment.MArket research nd trend shows vasundhara will be the major location fro property rates hike.
    CommentQuote
  • Great nervousness about Greater Noida

    The ground beneath Rafiq Ahmad’s feet slipped when he switched on the television after he returned home from work on Monday evening. Sipping tea in his rented Chhatarpur Extension accommodation, he froze when he heard that the UP government had been warned by the Supreme Court against invoking the “urgency” clause to acquire agricultural land for construction of high-cost residential flats.

    Ahmad (45) has booked a two-room house in an upcoming residential project in Bisrak village of Greater Noida.

    “I have paid the developer Rs 10 lakh, for which I took a loan from a government bank. As soon as I heard the news, I got scared and rushed to the site,” he said. He was satisfied only after he saw the building work in progress.

    Spooked by agitations over land acquisition and cases in courts, people who have invested their savings in projects beyond Noida have been making a beeline to the offices of developers to check if all is well on ground.

    Their nervousness stems from the fact that petitions have been filed by the Greater Noida Industrial Development Authority and developers and builders challenging the Allahabad High Court order cancelling the notification for land acquisition in Greater Noida.

    In fact, the Supreme Court was hearing these petitions on Monday when it told the UP government: “You take it (agricultural land) from one side and give it to the other. This has to go and if it does not go, this court will step in to ensure that”.

    Ramesh Singh (35) who has booked a three-bedroom flat for Rs 40 lakh in the area, said he rushed to the site-office of the developer after he heard the news. “I have a loan. Though people told me not to panic, I was feeling uneasy,” he said. He works in Lucknow, but plans to move to his new home for “better prospects”.

    A senior marketing official of the Supertech Ecovillage blamed the media for the “panic” among customers. “Since morning, we have received many calls and visits from those who have booked houses. It is obvious that when the customer has spent so much money, he or she will be tense about the property when such propaganda is spread,” he said.

    The company staff, the official said, had been doing all they could to pacify agitated customers. “We have shown them all necessary documents, including lease papers. Investors have seen for themselves that our 1500-odd workers are at work,” he said.

    Supertech Ecovillage will consist of 49 residential towers, comprising more than 6,000 LIG, MIG and HIG flats. “Of these, 5,000 have already been booked,” the official said.

    Supertech claims that construction of Ecovillage will be completed by 2013 and the apartments will be ready for occupancy by 2014.

    A senior sales official with Gaur City maintained that the “line is clear” as far as their project is concerned. “Since last evening, we have received about 50 calls, and around 50 walk-ins. Earlier, when the High Court order had come, the level of panic was greater. But we assured them that Gaur City was safe. It is only areas like Shahberi that are facing problems,” he said.

    Gaur City proposes to build 22,000 flats in two phases. The official said 40 per cent of these have already been booked, mostly by the upper-middle class.

    “We do try to cover people from all income grades. Around 95 per cent of our target customers take housing loans. Only 5 per cent self-finance,” the official said.

    -Indian Express
    CommentQuote
  • Illiterate media is indeed responsible for the panic

    Originally Posted by fritolay_ps
    Great nervousness about Greater Noida


    A senior marketing official of the Supertech Ecovillage blamed the media for the “panic” among customers.
    -Indian Express


    Disclaimer: The purpose of this post is neither to encourage people to invest in NE nor predict that everything will be fine in NE projects. I have invested in NE project and I am also scared about the future of NE projects but I really do not like reports presenting incorrect facts.

    I feel very aggrieved and frustrated the way news is presented by the media and the way people react to it without giving it due attention and thought. Primarily, it is responsibility of the media to present news with correct facts and in accurate manner. Reaction of people is understandable considering that it is not possible for a large bulk of people to understand news after analyzing its technical aspects.

    If a channel presents a program on destruction of earth claiming that end of earth is near citing some collusion of planets, even a literate person may not be able to scrutinize the news taking into consideration its technical aspects. People are expected to be scared. (Though it is a different thing that people have stopped believing a news channel because it has lost its credibility for telecasting such news only.)

    Some times, I think UP Police was right in recent treatment meted out to reporters. I personally feel regulating media is as important as fight against corruption.

    Straight to the point:

    The news telecast by a news channel yesterday and reports published on news site and in newspapers subsequently claimed Supreme Court is very strict on Noida Extension and future of NE is in grave danger.

    I read the entire report and SC no where mentioned Noida Extension. The SC was discussing a particular case only (Shahberi Case) and it made general remark regarding the land acquisition done by States through emergency clause(Section 17 of Land Acquisition Act, 1894) depriving farmers to raise their objection under section 5A of Land Acquisition Act.


    It is important to note that SC was passing remark in a case where land was acquired using emergency clause and where there was no such urgency though it is still open for authority to prove before SC that there was indeed a situation to invoke Section 17.

    I am not sure under what section land was acquired in other parts of NE but if land in other parts of NE was not acquired using section 17, then facts will differ drastically from Shahberi acquisition case.

    So it is very important to know that under what clause land was acquired in other parts of NE before making prediction about the future of NE and jumping to the conclusion.

    Though I mentioned in one or two of my previous posts that future of all NE projects will be same. But after reading Shahberi case completely, I am giving a different opinion.

    I came across following fact presented by Greater Noida Authority while reading Shahberi case.

    “The Builders Residential Scheme-BRS-01/08-09 did not invoke appropriate response and thus considering, that the village Shahberi was contiguous to the land acquired in village Aimnabad by notification under Section 6 dated 12.12.2006, Village Bisrakh under Section 6 dated 30.6.2008 and village Patwari under Section 6 dated 30.6.2008; the land use of village Shahberi was changed in Master Plan 2021 after giving public notice and inviting objections.”

    Thus I believe that land in Aimnabad, Bisrakh and Patwari was acquired under Section 6 and farmers were given an opportunity to raise their objections. Thus fate of projects launched on land belonging to above villages may be different.

    The facts of Nandigram are also different from NE. SC has just made observation that it will not allow repeat of Nandigram in other states and SC has asked following questions.

    “Did you give an opportunity to the farmers to raise their grievances before acquiring their land?

    What are you offering them in return?

    Are you going to give them a flat each in the multistoreyed residential complex?”

    So if authority satisfies SC that they are compensating them enough, then SC may pass judgment in favor of authority.
    Besides, SC has asked government in the form of suggestion to dump Land Acquisition Act and that’s for
    entire country. And most important part of the observation made by SC is:

    “The court said it would not deviate from the statutory principles. But at the same time, it expressed concern over the manner in which agricultural land was being acquired without surveying availability of barren land.”

    Even SC has limitation. SC has clearly mentioned that it would not deviate from the statutory principles and thus it will review whether GNA acquired land in violation of any statutory principles laid down in Land Acquisition Act or not. It will review procedural compliance of the rules laid down in the Act.

    I came across other facts also while reading shahberi judgement that I would like to share here. Many are claiming that farmers’ have been deprived of their land but few petitioners in Shahberi Case are:
    Modern Public School
    Arya Sahitya Prachar Trust
    Radha Swami Satsang Beas

    I have no idea how many petitioners are original tenure holders.

    Further, SC has asked for detailed hearing that will take place on 5th July.

    So let’s see what SC finally decides. But even if SC passes judgment against authority, don’t start pointing guns immediately before being aware of correct facts such as section under which land was acquired in different villages.
    CommentQuote
  • Hi Can u please attach the document realted to that case or some link from where one can read that Supreme Court Case.
    CommentQuote
  • First of all, I have no stake in NE.

    However, I must say that NE made me rethink about my dream to own a roof in NCR. Until middle of last year, I was not aware of NE and like many here, I used to think that I will not be able to afford a roof for us in NCR.

    Then a friend told me about this new development called NE and I started doing some ground work. While doing the ground work, I came to know some options, which are not that bad like NP/Manesar(etc) and equally priced to NE.

    So I started further work keeping NE and the new area option open. Finally visited NE and was not comfortable for some reasons and skipped the idea of NE. Otherwise I would have been in a similar situation like many here.

    The reason I am saying this bcoz, NE gave hope to many like me. I believe, whoever opted for NE is prepared for 4-5 years as that's the minimum period required to make the place livable.

    Now, no one knows what will happen in 4-5 years time.

    As I said earlier, there are three types of people creating these nonsense and nuisance
    1. Joker Type : Don't have much idea, hear something from somewhere... understand even lesser and then pass the mis information just for FUN

    2. Frustrated Type : These people never gathered the courage to do anything... always thought today is a bad day and tomorrow will be a better day... unfortunately that better day never came and they vent their anger everywhere on every single matter

    3. The Vulture Type : These are smart investor, who like vulture, create panic and get their prey

    Lets be sympathetic to those who's entire life saving is at stake. Be considerate to the dream and aspiration of other people.

    Just ask a simple question to yourself ... Are you adding any value by your post?
    If you, yourself is convinced that you have an authentic news and you are helping other by your rumour, go ahead and post nonsense.

    Otherwise, let sanity begins... don't always look for Anna or Ramdev to guide you... you yourself can guide you too!!
    CommentQuote