Alert: Is un-necessary panic necessary?

The farmers agitation/High Court land acquisition denoticification are unfortunate events for GNoida/YEIDA. It is tough times for investors in NE/YEA. Since fear spreads faster than patience does, lots of investors even in Noida 7X, Eway are panicking for no legitimate reasons. Such Noidawalahs will eventually realize in the aftermath of current storm that the rates of their flats have suddenly gone up by Rs 500SFT just because genuine demand for legitimate properties would come back sooner than later. The Noida asectors (Eway, 7X, 1XX) are different because


1) The land was acquired between 1999-2005 under various governments (including M Yadav) and not during current regime. The acquisition of some sectors of NE was done in haste under emergency clause as BMW wanted her $$$ ASAP after becoming CM. Same is not true with Noida sectors as land was acquired in most sector under normal circumstances for RESIDENTIAL purposes and cannot be clubbed with identical emergency acquisition.

2) Apparently, no court case is pending as land is duly registered with builders in Noida. Even if we assume that court cases exists, the courts would have certainly given status quo in all these 10-12 years. No status quo order exists. If farmers can get their land in Eway/7X so can they get 10 Janpath (PM) and 7 RaceCourse Road (Rahul baba's resi) housed on farmers land acquired some decades back and could still come under litigation by same logic.

3) There are property agents who had found it difficult to sell Naharpar, some GGN sectors/other NCR region projects, due to overwhelming response to Noida/NE projects. So it serves them well to spread negative news for Noida. In any case we do not deal in property selling and neither suggest to buy property in the given circumstances but our endevour is to spread awareness to the new owners to see through the news flow smartly so that they don't lose money in panic.

In nutshell, plot/flat owners who have booked their property with private builders(Eway/ Sector 7X, 10X) need NOT panic un-necessarily provided the builder has done registry of land in their names. By law, registry can only be done on builders name if farmers have 'transferred their land rights to authorities in liu of present and/or future compensation. The current tactics of those farmers where they had already sold their land in past is nothing but manifestation of greed and 'árm-twisting tactics of jungle-raj (currently being shamelessly promoted by even the main-stream parties finding opportunity of baking 'votebank rotis' on someone else's fire).

Please also note following

In recent times, Yamuna Expressway plots had stolen thunder as far as plots in NCR are concerned. It now appears that some of the land on YE townships/sectors may not be in possession of Govt. It would be an understatement that the prices on YE private townships were crazy (15-30 K psy) for a region that cannot boast about any nearby school/hospital/jobs in the vicinity, but that did not deter investors to pour funds in the region. YE plots are a good 100 km return drive from Noida/DND. Considering the costs of toll Rs1.5 per km and petrol prices where they are now, it was a non-starter from day-one. A small needle can really puncture bloated area if not supported by genuine demand.

At the same time genuine plots of GNoida sectors (Eta/Site-C/Ansal Golf Link 2) and Ghaziabad (Wave City NH-24, RajNagar Ext)) begged for attention as their prices are not only less than YE but they can boast of better existing infrastructure/Schools/Jobs/metro.

The flats in Noida Ext were sold because they were cheapest in NCR. However, now legitimate areas in Noida (Sector 7x, eway), Ghaziabad (NH-24, NH-58), Crossing Republic and RajNagar Ext could see a rebound and genuine demand.

The NE areas where high court has denotified were never given possesion by authority to builders. This means if the registry has been done for the land by the builder, it is safe. Some of the better builders in Noida Ext impacted by denotification are planning to re-allocate flats in other legal areas wherever feasible as per their feelers.

The days of reasonably-priced plots and flats may be getting over. The land aquisition process would now become tougher and costly process at the expense of development and land-less service middle class.All political parties are bending over backwards to woo the farmers. No one really thinks about a huge middleclass who aspires to have reasonably-priced homes. The future trend would be that the builders have to buy their land directly from villagers (not through public service garb) at the market rate.

We suggest to tread with caution till UP election scheduled in May/June 2012. Happy investing
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  • Alert: Was un-necessary panic necessary? :bab (35):
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  • Isn’t this an argument that you hear every other day?

    Isn’t this an argument that you hear every other day?

    For the aam aadmi, the Supreme Court’s judgements are a telling commentary on what is going wrong. The spate of judgements, coming in quick succession, has obviously upset some of the major loudspeakers of economic reforms. Some newspapers were quick to seek restraint in judicial activism reminding the judiciary of its limits. This was expected because it is this dominant group or individuals who have primarily been the beneficiary of the rot that had set in.

    Dismissing another petition filed by the Greater Noida Development Authority and several private builders, the Supreme Court lashed out at the growing incidence of violent land acquisitions: This is a sinister campaign initiated by several state governments against the people. It is forcing them (land owners) to become slum dwellers or take to crime.” It faulted state governments for using the ‘urgency’ or ‘emergency’ clause for private benefit. The nexus has grown thicker and wider – economists joining ranks with politicians, bureaucrats and builders.

    Following observation: “The justification often advanced, by advocates of neo-liberal development paradigm, as historically followed, or newly emerging, is that unless development occurs, via rapid and vast exploitation of natural resources, the country would not be able to either compete on the global scale, nor accumulate the wealth necessary to tackle endemic and seemingly intractable problems of poverty, illiteracy, hunger and squalor.” Together with the 50-page order on ‘black money, the country’s highest court has conclusively demolished the mainline economic thinking that weighs economic wealth over human welfare.

    Isn’t this an argument that you hear every other day?
    That rural India is literally on a boil is of no consequence. After all we are repeatedly told: land is required for manufacturing and industry; more industrial development means more employment; more employment means less of poverty.

    Land grab is happening at a time when the country is already in the throes of an unmanageable food crisis given that the galloping demands for food in the years to come requiring more area to be maintained under agriculture.


    The court appears determined. “We will not keep our eyes closed. 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,’ the apex court had warned.
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  • Originally Posted by StudRawk
    Isn’t this an argument that you hear every other day?

    For the aam aadmi, the Supreme Court’s judgements are a telling commentary on what is going wrong. The spate of judgements, coming in quick succession, has obviously upset some of the major loudspeakers of economic reforms. Some newspapers were quick to seek restraint in judicial activism reminding the judiciary of its limits. This was expected because it is this dominant group or individuals who have primarily been the beneficiary of the rot that had set in.

    Dismissing another petition filed by the Greater Noida Development Authority and several private builders, the Supreme Court lashed out at the growing incidence of violent land acquisitions: This is a sinister campaign initiated by several state governments against the people. It is forcing them (land owners) to become slum dwellers or take to crime.” It faulted state governments for using the ‘urgency’ or ‘emergency’ clause for private benefit. The nexus has grown thicker and wider – economists joining ranks with politicians, bureaucrats and builders.

    Following observation: “The justification often advanced, by advocates of neo-liberal development paradigm, as historically followed, or newly emerging, is that unless development occurs, via rapid and vast exploitation of natural resources, the country would not be able to either compete on the global scale, nor accumulate the wealth necessary to tackle endemic and seemingly intractable problems of poverty, illiteracy, hunger and squalor.” Together with the 50-page order on ‘black money, the country’s highest court has conclusively demolished the mainline economic thinking that weighs economic wealth over human welfare.

    Isn’t this an argument that you hear every other day? That rural India is literally on a boil is of no consequence. After all we are repeatedly told: land is required for manufacturing and industry; more industrial development means more employment; more employment means less of poverty.

    Land grab is happening at a time when the country is already in the throes of an unmanageable food crisis given that the galloping demands for food in the years to come requiring more area to be maintained under agriculture.


    The court appears determined. “We will not keep our eyes closed. 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,’ the apex court had warned.


    Sir,
    very well said and well put.We need to introspect.
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  • ' No Need To Panic: Investments Safe '

    ' No Need To Panic: Investments Safe '


    There is nervousness about Noida Ex. after the SC verdict against invoking the "Urgency" clause to acquired agricultural land for residential and commercial purposes. There are absolutely no need to get nervous. The authority is following court orders in letter and spirit. As directed by the AHC to settle the dispute out of court, Authority is regularly meeting the farmers and trying to find a solution by offering special packages, which include additional compensation, regularizing abadi land and allotting 6 % developed plots in lieu of the acquired land. Authority has already assured the villagers that their demand for increased compensation is being passed on to the state Gov.

    Homeybuyers who have booked flats should be provided all possible aid. Authority has already urged developers to either refund the money or shift them to an alternative project. If developers want to pull out of a projectm they can approach the authority for a refund. As the SC ordered builders to refund with interest the investments made by Buyers, Authority has already requested the builders to refund the money with interest, which should be equal to the prevailing home loan rates. At the same time the authority is trying its best to settle the dispute so that projects could be implemented on time.

    GNIDA is committed to providing all the required facilities. The place enjoys several territorial advantages like a proposed international airport near Jewar, International quality infrastructure privatized power and reliable water supply, and with more than 26 % of the total land area marked for green and open spaces,

    To improve connectivity, authority is going to start a public a public transport system. For this, planning for special purposes vehicles is in progress.

    After the feasiblity report, the first phase of alignment has been finalized by the DMRC. A detailed drafted project report has also been submitted to the DMRC. A joint committee with memebrs from various authorities has been formed for a review of this project report. A progress meeting of the committee is being held every fortnight. A project evaluation and review technique (PERT) chart has already been submitted for implemetation; this gives comparative details of board and standard gauge technology. The project is expected to be completed by 2014

    Above same related news regarding metro also published on 5th Aug - Times of India (Times Property)- Noida Edition and 6th Aug - Times of of India(Times Property)- Delhi/ Gurgaon Edition
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  • It is very simple..
    If you check your BP (status of your NE Project) EVERYDAY, you will panic and will have a roller coaster ride.

    If you have strong heart to leave this for 2 years and then revisit, there is absolutely nothing to panic.
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  • Originally Posted by ondabhai
    It is very simple..
    If you check your BP (status of your NE Project) EVERYDAY, you will panic and will have a roller coaster ride.

    If you have strong heart to leave this for 2 years and then revisit, there is absolutely nothing to panic.


    Although farmers are asking for and back, their core objective likely is to get higher compensation. Noida Extension (actually North Greater Noida) is extremely good real estate location.

    It’s very well connected with NOIDA and Ghaziabad and several new roads were planned to connect this place even better). So sooner or later, there will be projects built on this land, as it will be practically impossible to restore land to original status.

    I think No one should make protest group against developers at this point. Best interest at this time is in working together to find a solution and in other hand Authorities and Farmers are already negotiating.
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  • We are happy .... and delighful after so many discussion and observation finally says ...

    Certainly ... there were no need to Panic .... :D but ready for another Battle when you choose a new property now... :bab (35):


    Before buying an apartment it is crucial to carefully examine all types of legal documents related to the building and the land. A buyer has the right to ask and verify the certificates and documents cleared by the respective agencies or boards with regard to the property. Some points to be verified are as follows:

    * Check whether the property has clear legal titles or not - The builder has to get clear title for the land or plot. This will ensure that the property is clear, marketable and it traces any charges or encumbrances created on the property and its present status.

    It is required to examine the documents of ownership in government revenue records. This will ascertain as to whether the property has clear and marketable title and to confirm whether it is affected by any encumbrances, rights or interests of any third party, The purchaser through his advocate/solicitor should investigate this matter before entering in to an agreement

    * See if the developer has the right to transfer the property. He also needs to check if the transfer of property approvals from the statutory land development or planning authority or competent authority constituted under the Urban Land Ceiling and Regulation Act and the Income Tax Act are provided.

    See if the land on which the property is going to be developed is not a:

    * Agricultural land: Only a farmer is eligible to buy an agricultural land. Some builders use agricultural land for constructing building for residential or commercial purpose. In such cases the builder needs to get the approval from the concerned authority to convert the agricultural land to that of a land for non-agricultural purpose.

    This permission is essential from the Collector, when the tenure of land is changed from agriculture to nonagricultural purpose for residence, commercial & industrial use. Also the land revenue tax receipts need to be checked. These are issued to agriculturists by the village thasildar on payment of land revenue tax

    * Adivasi land: Adivasi/tribal land can be traded only among recognised tribes. A transaction not within this ambit is not legal, unless taken over by the government for projects or as part of a land acquisition scheme.

    * Reservations/acquisitions: Check if the land has been reserved for a particular project, such as irrigation, or if the owner has been notified about an acquisition project by the state or central government.

    Check these documents

    * 7/12 document: This is the basic document of title and proof of rights. It includes the name of owner/tenant, land area, agricultural land survey, etc. It is available with the thasildar of the village.

    * Encumbrance certificate: This certifies that the land is not involved in a legal dispute. It can be obtained from the Sub-registrar’s office, where the deed for the land has been registered.

    * Release certificate: The seller could have pledged the land previously to take a loan. To ensure that all the loan payments have been made and that no amount is due, ask him to produce the release certificate from the bank.

    * Check if the builder has all the approvals from the Municipal Corporation, Area Development Authorities, electricity boards, water supply and sewage boards

    Sourced with Legal Advisory Reuter
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  • I would like to know everyones opinion on this -If Samajwadi party comes to power, then how willl sectors 7x be impacted?
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  • Originally Posted by pakapoor
    I would like to know everyones opinion on this -If Samajwadi party comes to power, then how willl sectors 7x be impacted?


    They will shift Assembly and Taj Mahal next door to your project. Feel happy and :bab (48):
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  • Any latest update on this?
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