Property Prices Expected To Rise For New Bookings at Noida Extension

GREATER-NOIDA-indian-real-estate-market

With the planning committee of the NCR Planning Board giving a nod to the Greater Noida Master Plan 2021, all stakeholders in Noida Extension feel that a giant burden has been lifted off their shoulders. For the first time in over a year, the one lakh homebuyers, Greater Noida Authority, farmers and developers are thinking on the same lines — redressal of grievances at the earliest.
However, along with the good news, there’s also a bad one. Developers say that while old buyers will remain unaffected, new ones will have to shell out almost double the rates as property prices have shot up as compared to last year.
Greater Noida Authority CEO, Rama Raman, said that his first priority will be addressing the grievances of all farmers whose lands have been acquired. The most elated are members of the Noida Extension Flat Owners and Members Association who have been fighting for their right ever since the land row started. “We will meet Authority officials next week to discuss farmers’ grievances since we had joined hands with them to fight this battle,” said Abhishek Kumar of the buyers’ body.
However, farmers are still an apprehensive lot. “The issue is a multi-layered one. Land in eight of the 11 villages in the area has been denotified by the court. Cases in more than 40 villages are currently pending in court. So how can the Master Plan be passed without first addressing these matters?” asked farmer leader Dushyant Nagar, a member of Kisan Sangharsh Samiti. Farmers of 11 villages will convene a mahapanchayat on July 1 to decide their next course of action.
Apart from buyers, this move comes as a major relief to developers whose investments have been tied in the projects without any earnings. Supertech chairman and managing director, RK Arora, said, “We hope to resume construction by July end.” Developers have also started sharing this news with homebuyers. “This win would not have been possible without the patience of homebuyers who supported us throughout the land row,” said Mohit Arora, director, Supertech.
While director of Gaursons, Manoj Gaur, said that this is a vital win in favour of buyers and the realty industry, Amrapali Group CMD, Anil Gupta hoped to hand over flats to buyers within a new timeframe. “This decision will improve the image of Greater Noida and Noida Extension. The land row had brought a negative impact in the region,” said Orris infrastructures managing director, Amit Gupta.
Source- TOI

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