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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
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
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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.
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.
Ayesha ArvindAyesha Arvind, TNN
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Buyers caught between banks and builders' demands
NOIDA: Homebuyers in Noida Extension are in a quandary over their housing loans and the next set of installments that they have to pay the builders. After the Allahabad High Court verdict, while builders have begun dispatching demand letters, homebuyers have no word yet from the banks as to when fresh disbursements would commence for paying their installments.
"Banks are still mum on disbursement of funds so that construction activity of the residential projects can commence in Noida Extension," said Devender Kumar, a member of Noida Extension Flat Owners and Members Association ( NEFOMA). "Banks should immediately release the installments to the builders so that construction can begin in the stalled projects," added Kumar.
While buyers in some projects of Noida Extension have begun receiving installment demand letters, some builders have asked them to pay interest on pending dues. "The builder has sent a letter asking me to deposit Rs 57,000 as interest," said Sandeep Kumar, a homebuyer from Palm Olympia project in Noida Extension. "The builder should understand that we are in no position to pay till banks start disbursal of loans," added Kumar.
In yet another residential project, Earth Towne, buyers have been sent 'cancellation letters' by the builder for failing to pay installments in the last few months. "Our group of 12 people, which had booked flats in this project, was served the letters a few days back," said Ajit Singh, who has booked a flat in Earth Towne.
"We conveyed to their officials that payments should have been put on hold since the final clearance on all projects is yet to come and banks have stopped funding. However, they have said that we need to pay up irrespective of any such problem," added Singh.
Palm Olympia has said that their demands to buyers to clear default installments are strictly in accordance with the contracts signed between them. "However, if CREDAI writes to us, we are willing to wait till all matters are settled," said Neelesh Sharma, vice-president (marketing) of Palm Olympia. When contacted, Earth Towne Infrastructure officials did not respond.
Banks, however, have decided not to release funds, at least till the Greater Noida Authority gets its Master Plan 2021 approved from the NCR Planning Board. "There's no question of disbursing further loans until the projects have been cleared by the authorities," said the spokesperson of a leading bank. "It is not possible for banks to release loans on projects that are subject to approval of a planning board," he added.
CREDAI has, however, now stepped in to bring about some order. It will write to all developers of Noida Extension area requesting them to put on hold all demand letters and notices till some clarity is achieved on the actual situation in the area. "A meeting with the Authority can be scheduled only after Diwali following which we will get to know whether construction work can resume and also sort out issues like waiving off interest on installments," said Anil Sharma, president CREDAI (NCR) and CMD of Amrapali Group. "We request all developers to refrain from sending payment notices to the buyers," he said.
source : TOI
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नोएडा एक्सटेंशन में निवेशकों को बिल्डर लिखित में यह आश्वासन देने के लिए तैयार हैं कि उन पर किसी प्रकार का एक्स्ट्रा आर्थिक बोझ नहीं पड़ने दिया जाएगा। अन्य मुद्दों पर भी दिवाली के बाद बिल्डरों और निवेशकों के बीच मीटिंग होगी। रविवार को नोएडा एक्सटेंशन फ्लैट ऑनर मेंबर असोसिएशन ने मीटिंग की थी। मीटिंग में निवेशकों ने यह निर्णय लिया था कि वे बिल्डरों से इन तीन मुद्दों पर लिखित आश्वासन लेंगे: मौजूदा निवेशकों पर किसी प्रकार का आर्थिक बोझ न डालना, फ्लोर एरिया रेश्यो (एफएआर) न बढ़ाना, खाली जगहों पर और टॉवर न खड़ा करना। बिल्डरों के संगठन क्रेडाई के एनसीआर के वाइस प्रेजिडेंट और आम्रपाली ग्रुप के चेयरमैन अनिल शर्मा ने बताया कि असोसिएशन के लोगों से मेरी बातचीत हुई है। बिल्डर निवेशकों को यह लिखित आश्वासन देने को तैयार हैं जो निवेशक फ्लैट बुक करा चुके हैं, उनसे किसी प्रकार का एक्स्ट्रा कॉस्ट की वसूली नहीं की जाएगी। निवेशकों की अन्य मांगों पर विचार करने के लिए दिवाली के बाद निवेशक और बिल्डरों के बीच मीटिंग होगी। वैसे, सभी बिल्डरों के प्रोजेक्ट के कॉस्ट बढ़ गए हैं। ऐसे में निवेशकों को भी थोड़ा नरम रुख अपनाना चाहिए।
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नोएडा एक्सटेंशन फ्लैट ऑनर मेंबर एसोसिएशन ने बिल्डरों से तीन वादे लिखित में लेने का फैसला किया है। ये हैं, बुक फ्लैट के दाम नहीं बढ़ाना, एफएआर नहीं बढ़ाना और तय खाली स्पेस में नए टावर नहीं खड़े करना।
यह भी तय हुआ है कि बैंकों से लोन शुरू कराने के लिए कई टीमें बैंकों में जाएंगी। फिर भी लोन पास नहीं होने पर प्लॉनिंग कमिशन से अपील की जाएगी। किसानों के रुख को देखते हुए सहमति बनी कि अगर वे हाई कोर्ट के फैसले के खिलाफ सुप्रीम कोर्ट गए, तो खरीदार भी सुप्रीम कोर्ट जाएंगे।
एसोसिएशन प्रेजिडेंट अभिषेक कुमार और फाउंडर देवेंद्र ने बताया, करीब 250 खरीदारों की मीटिंग रविवार को नोएडा एक्सटेंशन में हुई। उनका कहना था कि मामला कोर्ट में होने से हुई देरी का असर पुराने खरीदारों पर नहीं पड़ना चाहिए। बिल्डरों ने यह कहा है, लेकिन इस वादे को लिखित में मांगा जाएगा। इसके अलावा, ग्रेटर नोएडा अथॉरिटी ने फ्लोर एरिया रेश्यो (एफएआर) बढ़ा दिया है। खरीदार चाहते हैं कि जो एफएआर फ्लैट बुक कराते समय था, वही रहना चाहिए। अगर एफएआर बढ़ा, तो बिल्डरों को फ्लैट में ज्यादा कंस्ट्रक्शन की छूट मिल जाएगी। इससे फ्लैट के डिजाइन में बदलाव हो सकता है। उन्होंने यह आशंका भी जताई कि बिल्डर अपने नुकसान की भरपाई के लिए टावरों के बीच खाली जगह में नए टावर बना सकते हैं। तय किया गया कि ऐसा नहीं होने दिया जाएगा। अभिषेक ने बताया कि दिवाली के बाद बिल्डरों और बैंकों से मुलाकात की जाएगी। अभी तक बैंक नोएडा एक्सटेंशन का मामला कोर्ट में बताकर लोन देने में आनाकानी करते रहे हैं, लेकिन अगर अब भी बैंकों का यही रवैया रहा, तो बैंकों के खिलाफ प्लॉनिंग कमीशन के उपाध्यक्ष मोंटेक सिंह आहुलवालिया से मिला जाएगा।
यह भी तय हुआ है कि बैंकों से लोन शुरू कराने के लिए कई टीमें बैंकों में जाएंगी। फिर भी लोन पास नहीं होने पर प्लॉनिंग कमिशन से अपील की जाएगी। किसानों के रुख को देखते हुए सहमति बनी कि अगर वे हाई कोर्ट के फैसले के खिलाफ सुप्रीम कोर्ट गए, तो खरीदार भी सुप्रीम कोर्ट जाएंगे।
एसोसिएशन प्रेजिडेंट अभिषेक कुमार और फाउंडर देवेंद्र ने बताया, करीब 250 खरीदारों की मीटिंग रविवार को नोएडा एक्सटेंशन में हुई। उनका कहना था कि मामला कोर्ट में होने से हुई देरी का असर पुराने खरीदारों पर नहीं पड़ना चाहिए। बिल्डरों ने यह कहा है, लेकिन इस वादे को लिखित में मांगा जाएगा। इसके अलावा, ग्रेटर नोएडा अथॉरिटी ने फ्लोर एरिया रेश्यो (एफएआर) बढ़ा दिया है। खरीदार चाहते हैं कि जो एफएआर फ्लैट बुक कराते समय था, वही रहना चाहिए। अगर एफएआर बढ़ा, तो बिल्डरों को फ्लैट में ज्यादा कंस्ट्रक्शन की छूट मिल जाएगी। इससे फ्लैट के डिजाइन में बदलाव हो सकता है। उन्होंने यह आशंका भी जताई कि बिल्डर अपने नुकसान की भरपाई के लिए टावरों के बीच खाली जगह में नए टावर बना सकते हैं। तय किया गया कि ऐसा नहीं होने दिया जाएगा। अभिषेक ने बताया कि दिवाली के बाद बिल्डरों और बैंकों से मुलाकात की जाएगी। अभी तक बैंक नोएडा एक्सटेंशन का मामला कोर्ट में बताकर लोन देने में आनाकानी करते रहे हैं, लेकिन अगर अब भी बैंकों का यही रवैया रहा, तो बैंकों के खिलाफ प्लॉनिंग कमीशन के उपाध्यक्ष मोंटेक सिंह आहुलवालिया से मिला जाएगा।
Source NBT
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नेफोमा मेम्बेर्स को यह जान कर ख़ुशी होगी की अनिल शर्मा जी ने यह घोषणा की है की वो यह लिखित में देने के लिए तैयार है की किसी भी existing buyers पर बड़े हुए रेट का भार नहीं डालने जा रहे | जी न्यूज पर 21 तारीख को जैसे ही verdict आया मेरा शर्मा जी से मेरा पहला सवाल था की आप लोग क्या existing buyers को लिखित में देंगे की उन पर बड़ा हुआ भार नहीं लिया जाएगा | तब अनिल शर्मा जी ने यह वादा किया था की वो इस पर जरूर कोई कदम उठाएंगे |
इसके साथ ही Palm Olympia के buyers के लिए भी खुश खबरी है | जब Palm Olympia के MD से यह पुछा गया की जिस तरह से आप लोगो ने अपने buyers को demand letters भेजा है | अनिल शर्मा की statement के बाद क्या आप letter return लेने के लिए तेयार है | तो उनका कहना था की अगर अनिल शर्मा जी ने यह कहा है तो हम उनकी बात मानने के लिए तैयार है |
