Developers to bear enhanced compensation burden
Builders in Noida who have their upcoming residential or commercial projects in hand will have to pay enhanced compensation to the farmers.
Greater Noida authority (GNA), in a meeting with the developers has passed orders to pay an extra sum of Rs 2,015 per sq mt within next three months.
According to the data collected by Greater Noida Authority, there are around 95 upcoming projects across 38 villages in Noida city. All the 95 developers will have to share the burden of enhanced compensation.
Developers are availed to deposit their first payment to GNA and rest of it should be paid by January 2012. However, GNA officials say that the norm will come into action only after next board meeting.
Source: The Tribune
38 villages in Noida city, Board meeting, Builders, Commercial projects, Compensation, Developers, GNA officials, Greater Noida authority (GNA), Noida, Residential projects
