GREATER NOIDA: A fortnight after Allahabad High Court's order on land acquisition in Noida and Greater Noida, the status of projects in these areas remains far from clear.

While all stakeholders had hailed the order at the time, the initial euphoria has died down as all construction activity remains stalled. Greater Noida Authority's direction to builders to not resume work till issues pertaining to changes in Master Plan-2021 are resolved, has again shook the confidence of both developers and thousands of homebuyers.

Developers say there is not much they can do in the current scenario. Following Monday's directions to halt work, developers like Amrapali and Supertech, who have multiple projects underway in the Noida Extension-Greater Noida area, have informed their investors.

"The Authority will be communicating with the NCR Planning Board within a week and we think buyers will have to wait for around a month before the whole issue gets sorted out," said Anil Sharma, CMD of Amrapali Group. "We have stopped all construction work in the area for now and are awaiting the Authority's directions on the next step," said RK Arora, chairperson of Supertech.

After NCRPB approves the changes to the master plan, the developers will take up their concerns about accumulated interests on installments, increase in floor-area ratio etc with the Authority. At a press meet last week, the developers' organization CREDAI had said that developers were willing to bear the accumulated interest on bank loans, they would want GNIDA to waive off the interest on their installments.

Meanwhile, several buyers' associations of Noida Extension-Greater Noida have scheduled a meeting with CREDAI for next week to seek clarifications and answers to their queries. "Most developers have conveyed to the homebuyers the Authority's directions to stop construction work in the area. What can we do in such a situation but wait and watch?" said Abhishek Kumar, who has booked a flat in Supertech's Eco Village-II project.

The Noida Extension-Greater Noida area has at least 50 private housing projects under construction. Bookings have been made for around 100,000 housing units in different sectors. At least 70% of these housing units have been financed by banks and other financial institutions. In all, 2.5 lakh houses are planned in the area and bookings worth Rs 20,000 crore have been made already, developers claim. The total worth of these houses is around Rs 50,000 crore and an investment of roughly Rs 1,500 crore has already been made.
Vandana KeelorVandana Keelor, TNN

GREATER NOIDA: Early resumption of construction at Noida Extension's housing projects is now ruled out as Greater Noida Industrial Development Authority (GNIDA) has ordered builders to keep work on hold till the court-mandated approvals are obtained. While the Authority did not say how much time the process would take, sources told TOI it would take at least a month.

Delivering its 'Diwali gift' order of October 21 that ended months of uncertainty about the fate of these housing projects and 20,000 buyers, Allahabad High Court had made it clear that development in the area would be subject to clearance of GNIDA's Master Plan 2021 by NCR Planning Board (NCRPB).

After meeting some property developers on Monday, GNIDA CEO Rama Raman ordered a halt to any ongoing construction till the "matter is sorted out". The stay applies to projects in Noida Extension and other parts of Greater Noida. No approvals or completion certificates will be issued during this period.

Raman said the Authority had initiated formalities, and "details of all changes made in the (master) plan had been sent to the government for approval, and the state would forward the same to NCRPB". He added GNIDA was "hopeful of getting the required nod soon", but denied it had received any notice from the Board to halt construction. "It is not NCRPB's prerogative to issue any such notice to the Authority."

Raman said the Authority was required to inform NCRPB of changes to its Master Plan but it did not necessarily need the Board's approval. "According to the state's norms regarding Master Plan approval, any change in the plan must be in conformity with the NCRPB (guidelines). Changes in MP-2021 were incorporated way back in 2007, and at the time we had informed NCRPB," he said, adding that changes made in keeping with NCRPB guidelines could be got approved by the state government.

Raman said GNIDA would also seek HC's clarification on the order that seemed based on "a previous Allahabad High Court judgment of 1996 that directed the corresponding NCRPBs of all states to consult the federal agency".

The construction stay applies to projects in Noida Extn and other parts of Greater Noida. 


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