QUICK BITES
AFTER THE COURT VERDICT THAT AWARDED 64.7% ADDITIONAL AMOUNT AND 10% OF THE DEVELOPED PLOT AS COMPENSATION TO FARMERS, NOIDA AND GREATER NOIDA AUTHORITIES HAVE BEEN ISSUING NOTICES TO ALL THE DEVELOPERS AND BUILDERS WHOSE PROJECTS COME UNDER THE DISPUTED AREAS
THE GREATER NOIDA AUTHORITY IS ALREADY IN THE PROCESS OF COLLECTING MONEY AT THE RATE OF RS 2,015 PER SQ METRE FROM BUILDERS AND RS 1,465 PER SQ METRE FROM INDIVIDUAL RESIDENTIAL PLOT ALLOTTEES OF NOIDA EXTENSION.
WORK TO RESUME AT NOIDA EXTENSION
The uncertainty over completion of projects launched in Noida Extension is lifting, as the Greater Noida authority is planning to re-schedule developmental work in and around Noida Extension. A K TIWARY writes
Encouraged by positive indications from the NCR Planning Board to go ahead with the Master Plan 2021, the Greater Noida authority is planning to re-schedule developmental work in and around Noida Extension.
There is also a clear indication from the Allahabad high court on a review petition filed by the Greater Noida authority. So, you may now breathe easy about that dream house of yours. The uncertainty over completion of projects launched in Noida Extension appears to be lifting.
If the trend of these positive developments continues, developers and builders can restart construction work this month itself. They have been waiting for this moment since the Allahabad high court verdict over the land row. Sources say that the Master Plan 2021 of Greater Noida has almost been cleared and is awaiting a formal announcement of the sub-regional cell, Uttar Pradesh.
Anil Sharma, the vice president of Credai and the chairman and managing director of Amrapali Group, says: "This is a relief for builders and developers whose projects have been delayed since the dispute erupted over land acquisitions. After the Supreme Court verdict, which quashed the land acquisition of Shahberi, a number of projects were in limbo."
In a writ petition number, Ramesh Kumar Bhagchandka versus UP and others, it has been said that the Master Plan 2021 does not have any approval of the NCR Planning Board, which is a statutory body constituted under the an act of 1985. According to the act, a plan must first be prepared and if necessary land acquisition would be done.
In the present case of Noida Extension, the acquisition proceedings have been undertaken and thereafter the land was sought to be utilized by allotment to builders for raising construction that go contrary to the plan. Under these circumstances, the petition says the proposed acquisition is illegal be set aside. In this context, the Allahabad high court has directed the Greater Noida authority to obtain clearance from the NCR Planning Board for its master plan, and then go ahead with the development process.
Experts say there is no provision for approval of the master plan prepared by the development authority from the NCR Planning Board. The provision is only for sub-regional plan; the Master Plan of 2021 was sent to the NCR Planning Board for approval in 2006 and 2009, though.
According to the rules, the NCR Planning Board can raise objections to the plan within 60 days from the time the plan was submitted to them by the development authority. After the expiry of this period, it cannot be challenged. It was thus that the Greater Noida authority urged the Allahabad high court for review of the decision over the master plan.
The Greater Noida authority has now clubbed its Master Plan 2021 with the newly drafted Master Plan 2031 and sent it to the Housing and Urban Planning Department, Lucknow, for approval, to avoid a similar situation in future.
The Housing and Urban Planning Department is preparing sub-regional plans for development authorities like Yamuna, Noida-Greater Noida and Ghaziabad Authority. The sub-regional plans of Noida and Greater Noida have almost been cleared.
Impact of court’s verdict
After the court verdict that awarded 64.7% additional amount and 10% of the developed plot as compensation to farmers, Noida and Greater Noida authorities have been issuing notices to all the developers and builders whose projects come under the disputed areas.
In line with the court verdict, the Noida authority has to disburse Rs 1,100 crore more to the farmers, as compensation. The Noida authority has decided to pass on 50% of this burden to the builders. Besides, facing heavy financial crunch, an extra burden of Rs 9,500 crore including cost of developed plots, the Greater Noida authority is already in the process of collecting money at the rate of Rs 2,015 per sq metre from builders and Rs 1,465 per sq metre from individual residential plot allottees of Noida Extension. An extra Rs 550 per sq metre will also be charged from educational and institutional allottees.
Noida Extension, over 3,000 hectares, comprises Sectors 1, 2, 3 and Ecotech 13. The Greater Noida authority allotted land to more than three dozen builders like Amrapali, Supertech, Nirala, Eros, Antriksh, Earth, Ajnara, Gaursons, etc, at rates which ranged between Rs 10,000 and Rs 11,600 per sq metre through open tenders. In addition, a total of 4,250 residential plots were allotted through lucky draw at the rate of Rs 10,500 per sq metre.
Builders are planning to increase prices in this area at the rate of Rs 500 per sq ft, to absorb the increased burden. Chetena Sharma, a buyer at Noida Extension, says: "The decision to levy an extra charge will hit the property market. It will not be affordable for middle-class salaried people. For the average middle class, a house will remain a dream."
Rakesh Yadav, the managing director of Antriksh Group, says: "Undoubtedly, property in Noida Extension, which was earlier known for its affordable rates, will now be costlier. We are bound to revise prices owing to this extra burden coupled with increasing price of raw materials."
Source : TOI
AFTER THE COURT VERDICT THAT AWARDED 64.7% ADDITIONAL AMOUNT AND 10% OF THE DEVELOPED PLOT AS COMPENSATION TO FARMERS, NOIDA AND GREATER NOIDA AUTHORITIES HAVE BEEN ISSUING NOTICES TO ALL THE DEVELOPERS AND BUILDERS WHOSE PROJECTS COME UNDER THE DISPUTED AREAS
THE GREATER NOIDA AUTHORITY IS ALREADY IN THE PROCESS OF COLLECTING MONEY AT THE RATE OF RS 2,015 PER SQ METRE FROM BUILDERS AND RS 1,465 PER SQ METRE FROM INDIVIDUAL RESIDENTIAL PLOT ALLOTTEES OF NOIDA EXTENSION.
WORK TO RESUME AT NOIDA EXTENSION
The uncertainty over completion of projects launched in Noida Extension is lifting, as the Greater Noida authority is planning to re-schedule developmental work in and around Noida Extension. A K TIWARY writes
Encouraged by positive indications from the NCR Planning Board to go ahead with the Master Plan 2021, the Greater Noida authority is planning to re-schedule developmental work in and around Noida Extension.
There is also a clear indication from the Allahabad high court on a review petition filed by the Greater Noida authority. So, you may now breathe easy about that dream house of yours. The uncertainty over completion of projects launched in Noida Extension appears to be lifting.
If the trend of these positive developments continues, developers and builders can restart construction work this month itself. They have been waiting for this moment since the Allahabad high court verdict over the land row. Sources say that the Master Plan 2021 of Greater Noida has almost been cleared and is awaiting a formal announcement of the sub-regional cell, Uttar Pradesh.
Anil Sharma, the vice president of Credai and the chairman and managing director of Amrapali Group, says: "This is a relief for builders and developers whose projects have been delayed since the dispute erupted over land acquisitions. After the Supreme Court verdict, which quashed the land acquisition of Shahberi, a number of projects were in limbo."
In a writ petition number, Ramesh Kumar Bhagchandka versus UP and others, it has been said that the Master Plan 2021 does not have any approval of the NCR Planning Board, which is a statutory body constituted under the an act of 1985. According to the act, a plan must first be prepared and if necessary land acquisition would be done.
In the present case of Noida Extension, the acquisition proceedings have been undertaken and thereafter the land was sought to be utilized by allotment to builders for raising construction that go contrary to the plan. Under these circumstances, the petition says the proposed acquisition is illegal be set aside. In this context, the Allahabad high court has directed the Greater Noida authority to obtain clearance from the NCR Planning Board for its master plan, and then go ahead with the development process.
Experts say there is no provision for approval of the master plan prepared by the development authority from the NCR Planning Board. The provision is only for sub-regional plan; the Master Plan of 2021 was sent to the NCR Planning Board for approval in 2006 and 2009, though.
According to the rules, the NCR Planning Board can raise objections to the plan within 60 days from the time the plan was submitted to them by the development authority. After the expiry of this period, it cannot be challenged. It was thus that the Greater Noida authority urged the Allahabad high court for review of the decision over the master plan.
The Greater Noida authority has now clubbed its Master Plan 2021 with the newly drafted Master Plan 2031 and sent it to the Housing and Urban Planning Department, Lucknow, for approval, to avoid a similar situation in future.
The Housing and Urban Planning Department is preparing sub-regional plans for development authorities like Yamuna, Noida-Greater Noida and Ghaziabad Authority. The sub-regional plans of Noida and Greater Noida have almost been cleared.
Impact of court’s verdict
After the court verdict that awarded 64.7% additional amount and 10% of the developed plot as compensation to farmers, Noida and Greater Noida authorities have been issuing notices to all the developers and builders whose projects come under the disputed areas.
In line with the court verdict, the Noida authority has to disburse Rs 1,100 crore more to the farmers, as compensation. The Noida authority has decided to pass on 50% of this burden to the builders. Besides, facing heavy financial crunch, an extra burden of Rs 9,500 crore including cost of developed plots, the Greater Noida authority is already in the process of collecting money at the rate of Rs 2,015 per sq metre from builders and Rs 1,465 per sq metre from individual residential plot allottees of Noida Extension. An extra Rs 550 per sq metre will also be charged from educational and institutional allottees.
Noida Extension, over 3,000 hectares, comprises Sectors 1, 2, 3 and Ecotech 13. The Greater Noida authority allotted land to more than three dozen builders like Amrapali, Supertech, Nirala, Eros, Antriksh, Earth, Ajnara, Gaursons, etc, at rates which ranged between Rs 10,000 and Rs 11,600 per sq metre through open tenders. In addition, a total of 4,250 residential plots were allotted through lucky draw at the rate of Rs 10,500 per sq metre.
Builders are planning to increase prices in this area at the rate of Rs 500 per sq ft, to absorb the increased burden. Chetena Sharma, a buyer at Noida Extension, says: "The decision to levy an extra charge will hit the property market. It will not be affordable for middle-class salaried people. For the average middle class, a house will remain a dream."
Rakesh Yadav, the managing director of Antriksh Group, says: "Undoubtedly, property in Noida Extension, which was earlier known for its affordable rates, will now be costlier. We are bound to revise prices owing to this extra burden coupled with increasing price of raw materials."
Source : TOI
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