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- NOIDA EXTENSION SET TO TAKE OFF
A statutory committee of the NCRPB approved the draft Master Plan for Greater Noida-2021, which will pave the way for an early resumption of construction of the stalled projects at Noida Extension.
There is positive news for homebuyers in Noida Extension. A statutory committee of the NCR Planning Board (NCRPB) on Thursday approved the draft Master Plan for Greater Noida-2021. Now, the draft plan will be considered by the NCRPB, whose approval will give the final go-ahead for the resumption of construction work in Noida Extension.
Government sources said the NCRPB, headed by Union urban development minister Kamal Nath, is now expected to meet within a fortnight to examine the Master Plan. Once the board approves it, work can resume in the housing projects of Greater Noida, particularly in the area popularly known as Noida Extension.
This will not only help realize the dreams of existing buyers to own a house in the region but will also pave the way for construction of thousands of other apartments in the affordable category in Noida Extension.
A go-head to the plan will not only bring huge relief to existing homebuyers, it will also put construction work back on track in the region. This will also have a huge impact on economic activities, besides employment generation.
However, because of the delay in the construction of the projects, developers have already decided to increase the price of projects, which are going to be launched now, bringing the current bracket between Rs 2,700 per sq feet and Rs 3,500 per sq feet. All the earlier apartments and independent houses, which were launched in 2010 and early 2011, sold between Rs 1,800 per sq feet and Rs 2,100 per sq feet. But now, the unsold units of projects launched earlier will also be sold at a minimum price of Rs 2,700 per sq feet.
Projects launched in Noida Extension are in the sizes of 700 sq feet for one-bedroom studio apartment, 900 sq feet to 1,300 sq feet for two-bedroom and around 1,600 sq ft for three-bedroom units.
Earlier, one could buy a studio apartment for Rs 12.50 lakh, a two-bedroom apartment for around Rs 18 lakh and a three-bedroom unit for Rs 25 lakh. But, now, prices will jump by 50% in the area. Even after this, prices of apartments in Noida Extension will be the lowest in the NCR region. In the other parts of Noida, prices of apartments have gone up to Rs 4,500 per sq feet.
Not only this, the resumption of construction of projects in Noida Extension will also have a salutary impact in controlling the prices in other parts of the NCR, particularly in Noida. Therefore, the sooner that construction of projects resumes in Noida Extension, the better will it be for homebuyers in the NCR.
In fact, many developers feel that the start of work in the Noida Extension will also help in regaining the momentum in the real estate sector, which is witnessing a slowdown.
Following the Allahabad high court order, the statutory committee of the NCRPB wanted to ascertain if the draft Master Plan of Greater Noida is in conformity with the NCRPB regional plan. “The committee wanted to ascertain whether the master plan is in conformity with the NCRPB’s regional plan 2021, which was the court’s direction. After seeking certain modifications in the plan, we have decided to recommend it to the board for further approval,” a senior NCRPB official said.
Officials said the proposed modifications aimed at a greener, more socially inclusive but also denser development in the area. The NCRPB had asked the Greater Noida authority to incorporate changes in its earlier plan so that at least 16% of the total proposed urbanizable area is under green cover, the officials said.
The Greater Noida Industrial Development Authority (GNIDA) will earmark 20-25% of the housing for the Economically Weaker Sections while preparing sector layout plans, NCRPB said in a statement.
Other modifications which the NCRPB had asked to be carried out in the draft master plan was the creation of infrastructural provisions like water supply, sewerage, drainage, power, solid waste management, as per its norms.
Senior officials said the environmental management plan being prepared by the GNIDA would be an integral part of the Greater Noida master plan.
In 2007, the GNIDA had acquired 3,000 hectares of land for industrial use. Later it carved 2,500 hectares out it for ‘Noida Extension’, a residential area. This led to farmers from around 40 villages approaching the courts for better compensation for their land.
“We found that development in Greater Noida is better planned than in other cities in the NCR, like Gurgaon and Faridabad. The existing green belt will be conserved by the authority and we have kept stringent conditions that there will be no conversion or shifting of the green belt by the authority,” said an official who attended the meeting.
Urban development authorities across the country have encroached upon green belts mercilessly. Most urban authorities take advantage of provisions allowing for compensatory forestation in other areas, which has no positive impact on the affected region. No such provision exists in the Master Plan of Greater Noida-2021.
As per the plan, the GNIDA will only allow industries with non-polluting clean technology in this region. The environmental management plan being prepared by the authority will be an integral part of the master plan.
THE RESUMPTION OF CONSTRUCTION OF PROJECTS IN NOIDA EXTENSION WILL ALSO HAVE A SALUTARY IMPACT IN CONTROLLING THE PRICES IN OTHER PARTS OF THE NCR, PARTICULARLY IN NOIDA.
- Tell owners or land acquisition void: SC
New Delhi: Land acquisition proceedings will become illegal if government fails to observe the mandatory requirement of issuing public notices to the affected parties, the Supreme Court has held, quashing Maharashtra government's acquisition of a piece of land for a defence unit.
A bench of justices H L Dattu and A R Dave said that besides notifying the acquisition in the official gazette, the authorities were bound to notify the affected persons through media notifications in at least two newspapers in the local region.
"Since the mandatory requirement as required under Section 4(1) of the Act is not complied with by the respondents, while acquiring the land in question, in our opinion, the entire acquisition proceedings requires to be declared as null and void.
"We restrict the claim of the appellants only to 50 per cent of the land in question, namely, land in Survey No.119/3 Pt situated at Village Malad, Taluka, Borivali, District Bombay Suburban," the bench said in an order.
Petitioner Kulsum Nadiadwala and other legal heirs of one Ismail Nadiadwala had filed the appeal in the apex court challenging a Bombay High Court order refusing to quashing the acquistion.
On 24.10.1975, the state government had issued a notification under Section 4 of the Land Acquisition Act, 1894, to acquire certain pieces of land situated in different villages for the purpose of establishing Central Ordinance Depot.
According to the appellants, they were the legal heirs of deceased Ismail Nadiadwala and the land was jointly owned by him with Ibrahim Nadiadwala.
But the authorities issued no notice to the them and, after hearing only Ibrahim Nadiadwala, an award came to be passed by the state government on September 23, 1986.
The apex court agreed with the legal heirs' contention that the authorities ought to have issued public notice at the time of the acquisition.
The bench cited the apex court's earlier ruling in the J&K Housing Board v. Kunwar Sanjay Krishan Kaul (2011), wherein, it was observed that all the formalities of serving notice to the interested person, stipulated under Section 4 of the Act, has to be mandatorily complied with in the manner provided therein, even though the interested persons have knowledge of the acquisition proceedings.
Section 4(1) of the Act, stipulated that a notification to that effect shall be published in the official gazette and in two daily newspapers circulating in that locality of which at least one shall be in the regional language, and the Collector shall cause public notice of the substance of such notification to be given at convenient places in the said locality.
- New buyers of Greater Noida flats will have to pay extra
LUCKNOW: The approval of the Greater Noida master plan by the statuary body of NCR Planning Board is all set to propel the real estate prices in the region amid indications from developers that they would go for a price revision once the draft gets the final nod from the board.
While prices of existing flat owners waiting for possession of property may not change, new buyers may have to shell out not less than 15% extra. The revision, a developer said, was necessitated by three reasons. First, the region faced a sharp slump in demand for housing by an estimated 30% compared to what was in 2010-11. This was essentially accentuated not only by the litigation (In October 2010, Allahabad high court had stopped construction in areas for which the plan had not been approved by the board) but also recession in the housing industry and the rising material cost. Now, with the draft plan all set to get a final nod, it's time for developers to cover some lost grounds.
Another reason for price increase is a huge sum that the developers have to pay to land owners as per the Allahabad high court order. There are a number of housing projects which would come up only after compensation is being paid. According to government sources, the compensation in the region will escalate by more than 60% percent. Obviously that would also contribute to the price revision,'' said an official.
Finally, the NCRPB statuary committee move to place in the rider of 16% green belt and construction of 20 to 25% of the houses for the economically weaker section (EWS), may also contribute its bit to the price revision on the higher side as builders may pass the burden on to the buyers. There have been a tendency of builders to recover the cost of land allotted to green belt and EWS from the middle or the higher class buyers,'' said a government official in the housing department.
Developers, however, insist of taking extreme caution in deciding price revision. Vice-president of confederation of real estate developers association of India (CREDAI), Anil Sharma said that there was a consensus among the builders about not revising prices of the existing flat owners waiting for possession. Yes, but there could be some revision for the new buyers. But that is only after the board gives the final approval to the master plan,'' he told TOI on Friday. Sharma said that the price revision may not be arbitrary as it may seem. If someone seeks to escalate the price by say 50%, it would make the project unviable. No one will come to buy the house,'' he said.
President of Noida Extension Flat Owners Association, Abhishek Kumar said that the builders should not play a spoilsport after commendable efforts made by the UP government and the Centre. As many as 1.5 lakh families are waiting to get their house in the region. We hope that it will be a smooth sail from here on,'' Kumar said.
- can any one tell me the site where is the master plan 2021 map.CommentQuote1Flag
- Originally Posted by ktbio11can any one tell me the site where is the master plan 2021 map.
check G.Noida authority website :)
Draft Master plan 2021
- NE news.. on NCR planning board approval
NCRPB gives green flag to draft master plan 2021 - YouTube
Noida Extension Master Plan can be approved today - YouTubeCommentQuote0Flag
- now that the draft plan is in picture, would this time be the right time to enter NE or should wait more untill fully approved master plan comes. As I understand even with the draft approval the hype will be created which will again bring the investors back to NE. Senior members kindly suggest. I am budget buyer and started searching for a flat since few weeks and due to expensive projects in Noida was being forced to reduce the area of the flat in my budget.CommentQuote0Flag
- Originally Posted by del_sanjuWill builder like Gaur (which have sold most of its flats Guar city 1 full n more than half of gaur 2 11,16 as per gaur.)
ask for more money from old buyers.
This we will only come to know at the time of FDN Final Demand Note.........
All I mean is ki hame us samay fight ke like mentally prepared aur UNITED rahna hoga......
LEGALLY, humne jo BBA sign kiya hai,.........us basis per to Builder ye kar hi sakta hai.CommentQuote0Flag
- G Noida authority hopes master plan approval will save it from bankruptcy
The Greater Noida authority is neck deep in debt.
The authority took bank loans and spent crores of rupees on acquisition of land from farmers and development activities in Noida Extension. “The amount that the authority needs to pay back has gone up to Rs. 5,500 crore. We are paying hundreds of crores of rupees per month only as interest,” said a senior official.
Explaining the financial crisis, the official said that the authority allotted land to builders through auction on payment of only 10% of the total amount. Builders have to pay the rest in installments over the next 10 years. “Since construction is halted and there are no new flat bookings, builders have stopped paying installments to the authority.”
“We desperately hope Greater Noida’s master plan is cleared by the NCR planning board soon and cash flow starts again,” he said.
The Allahabad high court in October last year asked the authority to pay 64% additional compensation and 10% share in developed land to farmers. This means the authority has to pay increased compensation worth Rs. 9,500 crore to farmers.
“It has to be shared by builders and other allottees. The authority told 95 builders, who launched projects in 38 villages of Greater Noida, including those in Noida Extension, asking them to deposit an additional sum of Rs. 1,750 crore for the land already allotted to them. But halting of construction activities has stopped the cash flow,” he said.
G Noida authority hopes master plan approval will save it from bankruptcy - Hindustan TimesCommentQuote0Flag
- Farmers upset with Greater Noida master plan approval
Buoyed by the approval of the Greater Noida master plan by the statutory committee of the NCR Planning Board (NCRPB), developers in Noida Extension said it would clear the way for starting residential projects, which came to a halt last year.
The developers are now waiting for the committee's recommendations to be approved by the NCRPB.
Farmers, however, were disappointed at the decision and said they would oppose any construction unless their cases in the Supreme Court are disposed of.
Confederation of Real Estate Developers' Associations of India vice-president R.K. Arora, who is also the chairman of the Supertech Group, said: "We are just waiting for the final decision to be announced by the board. We are hopeful that construction will start in another 15-20 days."
Supertech has three projects, Eco Village 1, 2 and 3 in Noida Extension, offering around 25,000 housing units. The company claims 1,200 units are already sold out.
"We have also paid part of the amount the Greater Noida authority had asked us to pay additionally to farmers after the high court order. The authority had asked us to pay Rs.2200 per sq metre additionally over the initial allotment rate," Arora said.
According to him, developers may pass on this burden to buyers. "Our land and construction cost has gone up, so the cost to the buyers will increase by 50 per cent," he added.
Another major developer, Amrapali, also hailed the NCRPB committee's decision. "The situation is clear now and it is just a matter of time before the planning board meets. After that it will take only a month to resume work," an Amrapali official said.
Amrapali has four projects in Noida Extension offering 20,000 units. For home buyers, the move has come as a huge relief. "It is only one step forward but a huge one. It all happened due to our persistent efforts," Noida Extension Flat Owners and Members Association vice-president Anu Khan said.
Farmers, on the other hand, claimed that their concerns were brushed aside by the planning board committee and have threatened to launch a district-wise agitation.
"We had apprised urban development minister Kamal Nath of the actual ground position and what the authority has done. We met its board members several times. If the board tries to overlook farmers, we will tell the Supreme Court, which is already hearing our case. There will be mass agitation," Kisan Sangharsh Samiti convenor Dushyant Nagar said.
Read more at: Farmers upset with Greater Noida master plan approval : Uttar Pradesh, News - India TodayCommentQuote0Flag
- NEFOMA update
Dear Member / Buyers
Don't worry as we are sure for NCRPB approval on 28th June 2012, Again we (NEFOMA Team ) 100% sure for Board Approval.
As the News are coming in Regards of Board Approval.....Lets amused "What the Board will do" ......As we (NEFOMA & You) get passed/ approved Master plan from NCRPB, we will also have capacity to make them (NCRPB Board) PASS......Don't worry enjoy....today happiness...do not think for future " IF TODAY IS GOOD, Tomorrow also be GOOD" do not destroy today happiness
Enjoy every movement of life whether it is BAD or GOOD......think +ve, remain +ve, work +ve than outcome will be +ve..........good news are coming wait 15-20 working days..........CommentQuote0Flag
- too bad decision of taking this thread off the sticky -
- this thread is still sticky but moved from Noida to G.Noida sectionCommentQuote0Flag
- Originally Posted by rohit_warrentoo bad decision of taking this thread off the sticky -
This very Imp. thread still Sticky in Greater Noida Section.... due to different city this thread Moved to Greater Noida City Forum.
Members also requested to create further Greater Noida & Noida Extension threads into Greater Noida City Forum.... Admin getting complaints that why Noida City Forum has lots of other City Threads....
- NEFOMA update : Watch Abishek Kumar (Nefoma President) on Delhi Aajtak TV channel ….. Tomorrow at 9.30am
Property Mantra …….Talk ShowCommentQuote0Flag