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Showing posts with label greater noida property. Show all posts
Showing posts with label greater noida property. Show all posts

Wednesday, July 20, 2011

HC delays hearing on 2 villages’ land in noida extension

The Allahabad High Court, Wednesday, postponed its verdict on the legality of land acquisition in two villages of the Greater Noida area popularly known as Noida Extension.

The High Court will announce its verdict on July 26 on the plea of farmers and villagers from Roja Yaqubpur and Bisarakh Jalalpur villages, who went to court against the Noida Authority’s decision to acquire their land.

The court had already cancelled land acquisition in some other villages of Greater Noida in earlier judgements. And tomorrow the HC will hear pleas of farmers from Itheda, Haidarpur and four other villages.

On Tuesday, the High Court had quashed acquisition of nearly 600 hectare of land in Patwari and Dewla villages, falling under Dadri tehsil of Gautambuddh Nagar district.

The verdicts have come as a big jolt to builders and prospective home owners. Several builders have launched their housing projects in affected villages and thousands of people have made bookings in the upcoming dwelling units, some of which are either in various phases of construction or in the drawing board stage.

In total, pleas challenging the acquisition of almost 2,000 acres of land in Greater Noida and surrounding areas, popularly called Noida Extension, have been filed in the HC. It is believed that around 2.5 lakh flats are to be built on the land in question.


Yesterday’s order came barely a fortnight after the Supreme Court had struck down acquisition of 156 hectare of land by the state government in village Shahberi in the area, saying the authorities were “subserving” private builders in the name of public interest.

The apex court had on July 6 upheld the Allahabad HC order which had quashed the land acquisition by the Greater Noida authority under the urgency clause of the Land Acquisition Act and directed that the property be returned to the farmers.

It had also said the builders should return back the money collected towards the sale of flats in the village.

The issues being dealt by the HC include acquisition of farming and other land by the state government without giving farmers and villagers an opportunity to raise their objections and without being offered adequate compensation.KNow more about real estate greater noida.

Monday, July 11, 2011

Property prices in Greater Noida to increase sharply

Greater Noida Industrial Development Authority (GNIDA) on Friday said consumers will have to pay much more for properties in the region in future after the Supreme Court disallowed acquisition of 176 hectares of land from farmers.

The authority also said it will return the land to the affected farmers as per the apex court ruling and will strictly follow the new land acquisition policy of Uttar Pradesh in acquiring land for future projects.
"After this court order, we will acquire all future land (plots in greater noida) keeping in mind the market price and hence will have to pay higher land prices. Automatically, sale prices will increase and hence end consumers will be impacted severely," GNIDA Chief Executive Officer Rama Raman said.

 
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