Fresh land acquisition started in Noida Extension villages
No Comments Sub Category:Cities,Gurgaon,Realty News,Residential Real Estate Posted On: Nov 22, 2012
The Greater Noida Authority has started survey of acquiring land freshly in Noida Extension villages which also include Shahberi region, where several were hampered by Supreme Court.To acquire 156.3 acres of land in Shahberi village, the Supreme Court had destroyed the 2007 notification of the UP government last year. The authority had imposed a fine of Rs10 lakh on Greater Noida Industrial Development Authority (GNIDA) and ordered them to return the land to its original owners.
The authority has started measuring the land of Shahberi and Patwari villages and this news has brought happiness among the developers and home buyers whose money is stuck in various projects in the region.
After the Supreme Court judgment, Greater Noida Authority had distrubuted circulars to farmers of Patwari and Shahberi villages requesting them to return compensation income in return for the 156 hectares land. Out of 300 farmers around 131 have accepted compensation to the tune of Rs 17.5 crore. There are numerous farmers who may have still not necessarily came back to compensation income to the authority.
Real estate professionals claim that the authority’s process isn’t going to possibly be a simple one and hence the authority is going to face tough time.
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Developers, GNIDA, Greater Noida Authority, Greater Noida Industrial Development Authority, home buyers, Housing projects, land aquisition, land owners, Noida Extension villages, noida realty, Patwari villages, Projects in Noida, Real Estate news, Realty News, Shahberi, Supreme Court, UP Government
