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- it sucks big times. what an uncertainty.. ek to paisha lagao and upar se ye sari problems.. I'm fed up :bab (38):CommentQuote0Flag
- i think in gurgaon, all land has been acquired directly by builders from farmers, unlike in gnoida where govt has first acquired from farmers and then sold to builders.
Its only land which belongs to the govt and which the govt will use for building public utility services could be a point of contention, however, have heard that in Haryana , compensation is much higher !
Originally Posted by dheerajswamiit sucks big times. what an uncertainty.. ek to paisha lagao and upar se ye sari problems.. I'm fed up :bab (38):CommentQuote0Flag
- If martet price of a land is 4 Crore/Acre then it does not matter if you get 12L in UP or 40L in Haryana. The main thing is farmers now try hard to get their land back or minimum some more compensation in all over India. Be it UP/Haryana or Karnataka or Andhra.CommentQuote0Flag
- WE NEED TO LOOK AT ALL THE ANGLES.
All property sellers feel cheated when they come to know that the property thay sold for USD 100 has now appreciated to USD 1000. If the farmers too feel this way, nothing different about it.
Secondly, the law never requires 'sufficiency of consideration' as a pre-condition for a valid property sale. In other words, if the sellers (e.g. a Gurgaon farmer) sold his private land to a builder for USD 100 out of his free will, he cannot later claim the land back by arguing before the court that the fair market value of the land at the time of sale was USD 1000.
Therefore, no farmer can argue that he charged less than the market price from the builder, and the sale is invalid merely on that ground. Farmer has no remedy against the builder under the law of contract and equity, if the builder has completed his part of the contract (paid the 'agreed' consideration and not 'market price'.
The most important fact to be noted is that no writ petition can lie against private parties (i.e. builders). While in Noida, the govt acquired the land directly from the farmers (and therefore made themselves subject to Writ jurisdiction of High Court and Supreme Court), the Govt is not directly acquiring land from farmers in Gurgaon (thus farmers have a cause of action against the builder only under the law of contract).
There is absolutely no way out for Gurgaon landowners to sue builders, unless the builder has not completed his part of the contract.
For these reasons, Gurgaon would remain a much better place to invest than Noida.
Disclaimer: The above does not constitute any legal opinion. Please seek independent counsel before taking decisions.CommentQuote0Flag
- For these reasons, Gurgaon would remain a much better place to invest than Noida.
I guess you meant whole of Haryana ;)
- I agree Gurgaon is and will remain a safer place for invetsment as compared to NoidaCommentQuote0Flag
- Gurgaon investors might be afraid of investing in Noida, but their love for Gurgaon haven't lost yet. It is safe and give returns as it use to be.CommentQuote0Flag
- Misleading title. Gurgaon investors love to invest in new projects in Gurgaon.:DCommentQuote0Flag
- Gurgaon Investors Afraid To Invest In New Projects in Noida ExtnOriginally Posted by ggnkaaadmiMisleading title. Gurgaon investors love to invest in new projects in Gurgaon.:D
Ye, I think it was a mistake from news agency, title should be :
Gurgaon Investors Afraid To Invest In New Projects in Noida Extn... :bab (59):CommentQuote0Flag
- Originally Posted by DesignerYe, I think it was a mistake from news agency, title should be :
Gurgaon Investors Afraid To Invest In New Projects in Noida Extn... :bab (59):
NE is a lesson for everyone. Whenever anything looks unreasonably cheap from the other similar things then chances of something wrong is quite high. Launching rates of NE was really not justified as per the location, it was at least 30% low, and hence lots of investor attract and trapped, builder knew it very well that what they are selling to whom. Their main motto was to collect most of the money before any problem starts and builders succeed into it. I know few of my own friends who has purchased flat in NE in full DP plans. From the day one I was doubt in NE after looking into its launching rates and in March 2010 my doubt becomes confirmed when I saw lots of article in Newpapers that farmers of NE has filed cases against NE authority for capturing their lands illegally. As I also want to invest in same rate profile in Jan 2011 hence after analyzing all issues I invested in RNE GZB even at little bit higher price and knowing the fact that NE may get more appreciation % wise. Now story is open to everyone, and due to NE dispute rate of my own RNE Flat has increased a lot now (from 1643 PSF to 2000 PSF only in 7 months), and still increasing. Its all LUCK nothing else.
I sincerely want no investor loose any of his hard earn money in NE, all of us are same and it is just hard luck that in NE few of my friends get trapped because of greedy builder / authority / bribe. I hope all investor will get money asap from effected projects. There is no benefit to again trap by builders and if possible then take money back ASAP, not choose the option of re-allocations at all with in NE.CommentQuote0Flag