Projects jeopardised, Buyers cheated at Noida

noidamapBy Accommodation Times News Services
By Dr Sanjay Chaturvedi
The government of Uttar Pradesh, has faced protests against its proposed enforced land acquisition in 2011. These protests have been centred on the village of Bhatta Parsaul, Greater Noida and have resulted in sporadic incidents of violence since January of that year. In August 2010 there had been protests against the state government in Delhi and these had resulted in three deaths, many projects were jeopardised or stopped. Cancellations and refund suits are been filed and almost 1,00,000 homes are declared illegal.
Hindustan Times reported on 9th July 2012 that Farmers have filed in courts 1,500 fresh cases in a year against the three industrial development authorities in Gautam Budh Nagar—Noida, Greater Noida and Yamuna Expressway – and challenged land acquisition. At stake in Noida Extension is nearly 37,500crore, 17 projects and 250,000 flats under construc¬tion. Builders have already sold 100,000 apartments and complet¬ed 40-50 per cent construction. Acting on a bunch of petitions by farmers, a Division Bench comprising Mr Justice Sunil Ambawani and Mr Justice S S Tiwari set aside the acquisition of 589.13 hectares in Patwari and Dewla vil-lages in Dadri Tehsil of the Gau Tambuddh Nagar district.
Indian Express reported on 23rd March 2012 that Allahabad HC directed authorities to return 5 ha. of land to two Gautam Buddh Nagar farmers. On 31st March 2014 Times of India reported that 40% of new home units in Noida delayed. 99acres shows 28000 property listing and 396 residential projects for sale on 31st March 2014.
On4th Feb 2014 In a setback to private developers in Greater Noida, the Allahabad High Court has asked the authorities to return land acquired from villagers of Patwari to its original owners within two months.
Mr Justice Vikram Nath of Allahabad High Court passed an order on a plea by farmers, who said that despite a court order the Greater Noida Authority hasn’t returned the land procured against their wishes. Villagers claimed that the housing projects include those of big developers like Amrapali, Supertech, RG Homes, Patel and Nirala. They said at least 12-15 projects, including a housing project of the Greater Noida Authority, will be affected because of the Allahabad High Court order.
With the land acquisition issues and new Land Acquisition Act in place, Noida have been declining. Investors have decided to run away from and sell the stocks in distress. Rates have declined drastically and and no new registrations are reported.
One of the worst areas to invest, Noida will face a long legal battle to come up again on the main canvas of property purchasers.

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