Board irons out development bottlenecks
Jan 12, 2013, 01.41AM IST TNN

NOIDA: Several development projects were approved in the joint board meeting of the Noida, Greater Noida and Yamuna Expressway authorities on Friday. Even though the main focus remained on boosting connectivity and developing industrial clusters, the authorities even attempted to pacify agitating farmers by amending provisions related to land acquisition.

Noida Authority CEO Sanjeev Saran said rapid population growth has led to an urgent need to improve the transportation system. An additional 170 buses, including 20 semi low-floor buses and 50 feeder vehicles, will be started at the cost of Rs 40.5 crore. "The Authority will develop the city bus terminal in Sector 82 on 3.9 hectare with world-class infrastructure," he said.

Concerned over rampant accidents on Noida-Greater Noida Expressway, an Rs 15 crore Intelligent Transport System (ITS) will be installed to monitor and manage traffic flow.

To counter farmers' agitation, the board passed several amendments in the provisions to sort out abadi regularization, disbursement of developed land, enhanced compensation and inherited and non-inherited property issues.

"The land in Gautam Budh Nagar district was acquired in three phase in 1976, 1979 and 1997. Earlier, those farmers whose land was acquired in 1976 were eligible to get 5% abadi land, while those whose land was acquired between 1979 and 1997 were kept out of pool. The board has approved to grant abadi land to these farmers too," said Rajesh Prakash, administrative officer, Noida Authority.

"The minimum size of developed plots to be given to farmers whose land was acquired will be 40sq.mtr. The 5% developed plots will also be given to those farmers who were found eligible for plots below 40sq.mtr," Prakash added.

Around Rs 650 crore has already been disbursed towards enhanced compensation to farmers and the board has approved another Rs 450 crore. For village development work, the engineering department will not need approval from the land records department now.

The number of highrises in the city is expected to increase in the next two years, so there is a need of updated fire safety infrastructure. "The Authority will buy 72m hydraulic machines in case of fires in highrises," Saran said. A 1MW solar power plant will be developed on a 5 acre plot over the Sector 135-152 irrigation drain mainly for streetlights.

NOIDA: Several development projects were approved in the joint board meeting of the Noida, Greater Noida and Yamuna Expressway authorities on Friday. Even though the main focus remained on boosting connectivity and developing industrial clusters, the authorities even attempted to pacify agitating farmers by amending provisions related to land acquisition.

Noida Authority CEO Sanjeev Saran said rapid population growth has led to an urgent need to improve the transportation system. An additional 170 buses, including 20 semi low-floor buses and 50 feeder vehicles, will be started at the cost of Rs 40.5 crore. "The Authority will develop the city bus terminal in Sector 82 on 3.9 hectare with world-class infrastructure," he said.

Concerned over rampant accidents on Noida-Greater Noida Expressway, an Rs 15 crore Intelligent Transport System (ITS) will be installed to monitor and manage traffic flow.

To counter farmers' agitation, the board passed several amendments in the provisions to sort out abadi regularization, disbursement of developed land, enhanced compensation and inherited and non-inherited property issues.

"The land in Gautam Budh Nagar district was acquired in three phase in 1976, 1979 and 1997. Earlier, those farmers whose land was acquired in 1976 were eligible to get 5% abadi land, while those whose land was acquired between 1979 and 1997 were kept out of pool. The board has approved to grant abadi land to these farmers too," said Rajesh Prakash, administrative officer, Noida Authority.

"The minimum size of developed plots to be given to farmers whose land was acquired will be 40sq.mtr. The 5% developed plots will also be given to those farmers who were found eligible for plots below 40sq.mtr," Prakash added.

Around Rs 650 crore has already been disbursed towards enhanced compensation to farmers and the board has approved another Rs 450 crore. For village development work, the engineering department will not need approval from the land records department now.

The number of highrises in the city is expected to increase in the next two years, so there is a need of updated fire safety infrastructure. "The Authority will buy 72m hydraulic machines in case of fires in highrises," Saran said. A 1MW solar power plant will be developed on a 5 acre plot over the Sector 135-152 irrigation drain mainly for streetlights.
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  • true.... it will take at least 5 years to consume current available inventory
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  • Seniors - Please suggest where should we buy......should we wait or explore now.

    Regards
    Sudhanshu
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  • its ROMANO top floor rate, romano project is near NE,
    500/SQFT etc, min stands 4200 for top floor ST EXTRA
    Pls visit supertec Capetown to see supertec actual picture.
    SEC 7X is 5000 minimum for RTM projects.
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  • Originally Posted by jollygood
    I called them, there is an additional 550 psf to be paid over the bsp of 3499. Also I believe this is flexi payment plan so you end up paying close to 75% in next 60 days.
    And then the builder reputation..


    PLS visit site U get actual picture.
    min. ticket size 50+ lac for romano 2 BHK.
    44 Lac + PLC + ST + registry + on possession charges meter sheeter etc.
    all this for higher floors.
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  • 3499+550=4050 for residual top floor inventory for uc property with 60_75% down payment ! Do we say it's gud deal?
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  • The 550 was declared later, initial advt talked of only 3499. The main idea was to check if prices are cracking, but still seem to be holding even with negligible sales.

    Are the hidden charges so high, that the builders have no further leeway to drop prices. Or do they fear a contagion if one drops the price.
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  • Any Builder in a under construction property would give u 15-20% discount if you buy in down payment plan or Maximum payment. So, what's a big deal ? 20% means another 800 Rs. i.e. 4800 per sqft for a Top Floor....... Too Costly even in the current downturn.

    I think the rates are more or less stagnant but if you calculate the amount required to hold a Unit i.e. interest, maintenance & inflation etc then there is loss.
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  • The downturn is not RE or India specific. World economy at large is staring at recession.

    CRUDE OIL has fallen to �� 20a barrel from 125 an year ago, Indian stock market has fallen 30%in last one year n is back to rather lower than previous Modi times.

    In Japan interest rates are negative, in �� these are 1_2%.............
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  • Dollar 20
    EURO 1-2%
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  • supertech romano

    Originally Posted by tushar11
    3499+550=4050 for residual top floor inventory for uc property with 60_75% down payment ! Do we say it's gud deal?


    Romano is offering 3699 BSP in Subvention scheme in which EMI will start at the time of possesion.
    I dont find any problem in this as anyone can book the property on todays rate and will start paying after 2, 3 years. (Considering the time taken by supertech to complete the project.)
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  • If one can - he should get his registry done ASAP
    https://api.indianrealestateforum.com/api//v0/attachments/fetch-attachment?node_id=72787
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  • As forwarded by a dear friend
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  • Increase in fees is still in discussion....it may be delayed. I enquired for a change in my registered property for Sec 53 Noida
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  • Owners of unregistered flats face notice, hefty fine


    Noida: The district administration is set to crack down on homebuyers, who have bought flats in the vicinity of the Okhla Bird Sanctuary (OBS) but have not registered them. But residents claim they are being victimised because several developers have already charged registration fee.

    According to latest updates on builder properties accessed by TOI, 26 developer projects, with 16,710 flats under them, have received completion certificates. But, only 810 flats have been registered.

    The district administration is considering imposing 10 times the registration fee as penalty on violators.

    Gautam Budh Nagar


    Additional district magistrate Rajesh Yadav said on Thursday that notices would soon be issued to residents who were living illegally in unregistered flats.

    "If the residents fail to submit a satisfactory reply to the notices, stringent action will be taken against them," he said. "Living without registry is a violation of the law. Ten times the registry fee can be charged as a penalty from the occupants," he said.

    "Apart from these properties, three residential societies have also been identified in Greater Noida, where residents have been issued occupancy certificates by the Greater Noida Authority but the flats have not been registered," the official said.

    Several developers have charged the buyers anywhere between Rs 3 lakh and Rs 4 lakh towards what they said was "buying stamp and other registry expenses" and have delivered the flats. This has led to a situation where thousands of people living in flats that have not been registered.

    "We buyers are sandwiched between the Noida Authority and developers. A year ago we paid the amount for registry but the registration hasn't been done yet," said Sandeep Singh, a homebuyer.

    Amit Gupta, a homebuyer, said many developers had collected money for registry of flats, but they had not started the process despite having occupancy certificates from the Noida and Greater Noida authorities. "The developers are probably using the money collected from homebuyers for some other purpose," said Gupta, who is living in an unregistered flat and has refused to pay the developers extra money.

    District magistrate N P Singh said he had held a meeting with the developers. "I chaired a meeting with developers where they accused the Noida Authority of not providing sufficient staff required for the process. I have asked the Noida Authority chairman to look into it and do the needful," Singh said.However, CREDAI (Confederation of Real Estate Developers' Associations of India) president Getamber Anand said that it was unfair to the buyers if they were not getting the service they had paid for. "We will raise the issue through the CREDAI platform," he said.

    The issue of flat registry is causing a huge revenue loss to the government. The government is to get nearly Rs 450 crore in revenues after registering over 80,000 flats, falling within a 10-km radius of the OBS.

    Centre had cleared eco sensitive zone on August 19, 2015 but even after there are many home buyers have failed to get possession of their flats as many developers are payment defaulters of Noida Authority. Without clearing due payments, the Noida Authority will not issue occupancy certificate.

    Most of them have been living in the flats when the eco sensitive zone was not declared and completion certificates were not issued by Noida Authority.





    Owners of unregistered flats face notice, hefty fine - Times of India
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  • Noida wetland
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