Noida Extension Finished - Prepare for the worst!

17 Replies4327 ViewsLast Reply: 8 years ago
deepauls
Veteran Member
Started 8 years ago
Reply
SC upholds Allahabad HC order, asks govt to return land to Greater Noida farmers - The Times of India

Today's SC decision has put a stop on all NE Speculations. The matter is finished. All the investors money is sunk!

The Noida Extension is finally finished!

Don't take this decision relevant to only Shahberi context! It will be applied to all land, taken in similar fashion, as soon as the hearings for all lands come across.

SC has shown no mercy to middle class buyers - not considered them as the party too!


SC upholds Allahabad HC order, asks govt to return land to Greater Noida farmers


NEW DELHI: The Supreme Court on Wednesday upheld the Allahabad high court order quashing the acquisition of land in Greater Noida as well as transfer of the land to 7 builders.

The SC also imposed a cost of Rs 10 lakh on the Greater Noida Industrial Authority (GNIDA) for nexus with the builders and directed it to hand over the land to the villagers and farmers.

"GNIDA allotted the land to builders in complete violation for which the land was acquired," a bench comprising justices G S Singhvi and A K Ganguly said.

The bench said even before the government approved the use of land from industrial to residential purposes, the authority allotted the land to some builders.

The SC said that Greater Noida Authority was in collusion with builders to acquire the land first for public purpose and then in brazen violation of law transfer it to builders.

The court said it will give detailed reasoning for arriving at this judgement later.

The court passed its order on a petition filed by GNIDA and real estate developers and builders, including Supertech and Amrapali, challenging the high court order which had quashed the notifications for land acquisition in Greater Noida adjoining the national capital.
Read more
Reply
17 Replies
Sort by :
Oldest
Filter by :
All
  • Nazia Saeed
    New Member
    8 years ago
    Fate of Sec 70's

    I'm looking to buy 2Bhk flat in Aims Avenue 2 in Sec75.So with this decision of SC,what will be the future of 70's sectors.
    CommentQuote
    Flag
  • deepauls
    Veteran Member
    8 years ago
    About 6000 people to be affected by SC land order - Yahoo! News

    About 6000 people to be affected by SC land order

    New Delhi, July 6 (PTI) About 6,000 people who had booked flats in residential complexes being built by realty firms like Amrapali at Greater Noida, will be affected by the Supreme Court''s order asking the state government to return land to their original owners.
    But an apex body of the realtors assured that the affected flat owners will either be moved into other projects or their money will be returned.
    Amrapali, which is the biggest of the seven realty firms who have to return land following the Court order, said the firm has already sifted about 3,000 of its buyers to other company projects without any price escalation.
    While Amrapali said it will return 40 acres of land it had got from the Greater Noida Industrial Development Authority for its housing projects, Supertech - the second biggest of the seven firm, said the verdict was "victory of people who want to develop slums and unauthorised colonies".
    The Supreme Court today upheld the Allahabad High Court order quashing the acquisition of over 156 hectares of land from farmers in Greater Noida and allotting it to builders.
    "The Supreme Court''s decision has affected the projects of 6-7 builders including Amrapali and Supertech. About 6,000 buyers have been affected but developers have taken steps to compensate buyers by shifting them to some other projects or refunding money," apex realtors'' body CREDAI President (Western Uttar Pradesh Chapter) Manoj Gaur told PTI.
    The association said that it would approach the Greater Noida Authority for some workable solution and noted that seeking refund for investment made on land purchases would be "last resort".
    "After Allahabad High Court judgement only, we started shifting buyers to other projects at the same price. About 3,000 have already shifted and some others, about 3-4 per cent, opted for refund," Amrapali Chairman and Manging Director Anil Sharma said.
    CommentQuote
    Flag