Authority and the Builders ready to pay some extra
The Authority should renegotiate with the farmers so that they willingly part with their land. That is the only way to protect interests of buyers and save builders from going bankrupt. The recent Supreme Court and Allahabad High Court orders cancelling land acquisition by Greater Noida Authority in Sahberi and Patwari villages have left few options for buyers. Commenting on the possibility of the entire land acquisition being scrapped, a builder implementing a large project in the area said, returning money with interest to buyers would not be possible in that eventuality.
Developers after the recent Supreme Court and Allahabad High Court orders quashing land acquisition by Greater Noida Authority in Sahberi and Patwari say that completing the projects is the only way to safeguard the interests of buyers and builders. For this, the Authority and the builders are ready to pay some extra amount for the land to the farmers.
CMD of Amrapali Group, Anil Sharma, also pointed out that completing the projects was the only way to safeguard interests of buyers, the Authority and the builders. For this, the Authority should renegotiate with the farmers so that they willingly part with their land, he said.
The builders will pursue the matter in courts to find a solution. But they agree that is the only way to protect interests of buyers and save builders from going bankrupt.
The Authority’s chief executive, Rama Raman, agreed that completing projects was the most acceptable solution. For this, he said, the authority will plead for a judicial review to complete the land acquisition.
Regarding the ongoing dispute that centres on farmers claiming their lands were forcibly acquired on the pretext of industrialization, but subsequently transferred to builders for residential use at high rates, an official of the Authority said the land use was not changed but the plots acquired for industrial and residential use were switched.
He said the percentage of land to be used for industrial and residential purposes in the proposed township on 28,000 hectares of land remained unchanged.
completing the projects was the only way to safeguard interests of buyers and the builders, Greater Noida, Greater Noida UP, Land acquisition by Greater Noida Authority, Noida, Noida Land acquisition
