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- while you are right that anything can happen in RE, do you have any concrete info of court cases or disputes by farmers on any sector 7x and expressway lands. without this info, your post is just fear-mongering. of course it's plausible, but then world ending tomorrow is also plausible, and by this logic, maybe all old sector land is also disputed and noone should buy there too.CommentQuote0Flag
- Not 7X SECTORS
There is no issue as such with 7x sectors, please do not circulate rumours & make people panicky so that they may change their purchasing decisions.CommentQuote0Flag
- Originally Posted by alokgargwhile you are right that anything can happen in RE, do you have any concrete info of court cases or disputes by farmers on any sector 7x and expressway lands. without this info, your post is just fear-mongering. of course it's plausible, but then world ending tomorrow is also plausible, and by this logic, maybe all old sector land is also disputed and noone should buy there too.
If this fire spreads ( which i am sure it will ) - anything done under BMW will be affected - someway or the other.
- >> To Pranjan Das & Alok Garg
Thanks for your comments.
My post points out that the SC has set a "legal precedent". This is not a rumor but a fact. Any politically motivated person can now use this legal precedent.
>> To Mr. Bajaj
Exactly my sentiments. I've invested in NExp. myself... but that's no reason to stop thinking independently / ignore new developments or not admit mistakes.
This clause has been used not only by UP..but many states in India...its NOT new...
If a certain area of land has been fully acquired by authority....compensation fully paid....and no court case by farmer for that land.....then ITS TOTALLY SAFE....ABSOLUTELY NO ISSUES....EVEN IF FARMER WANTS TO BE GREEDY ..NOTHING CAN HAPPEN...
Noida expressway land has been acquired long time ago....it has no issues at all
As per reports 22 pecent of NE has issues...78 p.c is safe....now THIS needs to be confirmed that which is that 22 percent...CommentQuote0Flag
- At this point of time, no land in noida/gnida is secure which was acquired after 2008. u just need to wait and watch and keep your money safe, as sfe as possible.
cash is king.CommentQuote0Flag
- >> To Zohaib
Thanks for your reply, but I respectfully disagree.
Yes, Section 17 has been applied many times over many decades, but it is only in the last few months that these SC judgments have come.
The political climate is also terrible.
>> To Munish
Correct. I don't like to be prescriptive, but NExtn/YEIDA buyers should seek refunds and NExp/7.xx buyers should keep a watch for upcoming cases.
Those with cash can look at IP or RTM (registered properties) in Noida/GN.
- Just stay away from NE till the dust settles. Don't invest as long as you see some of the builders in clean areas are starting construction again.
People who are already invested should wait as long as they could to see what pans out of their project or negotiate with builder to have an easy way put. Some of the builders are moving the buyers to another location, so see if you are getting a good deal in those new projects.
Looking at the way SC made the decision, it seems like the land actually listed in this hearing is going back to farmers. I don't see any other way around it that farmers and builders can negotiate. NA already got scolded from SC about their behavior and I don't see them approving this land for residential purpose, which means no utilities etc.CommentQuote0Flag
- Added new info re: related SC judgment of 1998
As some members requested, I've unearthed the last significant SC judgment pertaining to Noida land acquisitions. This was way back in 1998 in a dispute around Sectors 44/43 and that NA won... unlike in the current judgment where NA lost.
Om Prakash & Anr vs State Of U.P. & Ors on 15 July, 1998
The SC clearly points out that "mala fide" intention of Govt. is an important factor (search for "POINT NO. 3" in the judgment). In the 1998 case, NA won because acquisition was clearly for "public good". Obviously, handing over land acquired under emergency clause to builders will be tough to justify as "public good" in current/future cases.
The one positive thing I can make out is that the amount of construction that has happened is also an important factor. This bodes well for some of the almost RTM projects like 3C LB/LP, Amrapali Sapphire, Mahagun Moderne etc.
- Going by the SC order, no land in this country acquired by any Authority like GNIDA is safe because most of the land in most States have been acquired under this clause. So if the problem is in Noida now, it will be somewhere else. I think this whole issue has not been handled the way it should have been. I was expecting a solution to this problem by SC not such a judgement which is sadly providing no solution to the poor middle class investors.CommentQuote0Flag
- Thanks Varshar for so nice info...CommentQuote0Flag