Builders
BMC’s plan to levy a 100% premium on some areas like flower bed, parking and balconies appeared to have been made under the premise that developers were indulging in commercial exploitation. Maharashtra Chamber of Housing Industry (MCHI) recommended a maximum of 25% premium on compensatory FSI and that “this area should not be inclusive of [...] Continue Reading »
We all know that builders do violate a few big and small Floor Space Index (FSI) norms. But due this, home buyers have to suffer. Similar situation happened when there was a CID inquiry being conducted into alleged violations of FSI norms in the apartments on Palm Beach Road, Mumbai. Some residents seem to know [...] Continue Reading »
Residents of Ayyappa Society at Madhapur woke up to a chaotic Monday morning. Over 700 police personnel were stationed at the site to deal with any trouble, as plot owners/builders opposed the demolitions. The demolitions brought traffic at Madhapur market area to a standstill. Other roads leading to the society were also closed by the [...] Continue Reading »
DLF, which owns a majority of the buildings in Gurgaon, most of which are located in the Cyber City area, has been trying to negotiate with the Municipal Corporation of Gurgaon (MCG) over the wall wrap advertisement rates for over a year. Those ads were being displayed on their own buildings. Demands hav been made [...] Continue Reading »
Builders, who were allotted land by the Greater Noida Industrial Development Authority (GNIDA), have stopped all construction work in Sahberi and the Authority officials pulled down whatever hoardings, property advertisements etc remained there. The authority has begun the process of returning land to farmers. Developers affected by the Sahberi order have also been given the [...] Continue Reading »
Land acquisition in Sahberi and Patwari, where over 30,000 apartments and plots were sold, has been declared illegal by courts. The Allahahad High Court is due to hear cases regarding more villages this week, but the fate of nearly 70,000 apartments in Noida Extension is uncertain. Demands for higher compensation have spread to neighbouring areas [...] Continue Reading »
The final hearing of the acquisition of land in Greater Noida Extension including Patwari where the notifications were quashed by the division bench of Allahabad High Court has arrived. The hearing will be on July 26. A bench of the court deferred till July 26 hearing in about two dozen other writ petitions filed on [...] Continue Reading »
The Patwari farmers got what they wanted. It was their 600 hectares of land which was acquired by the builders and was given back as per the Allahabad High Court order to Greater Noida Authority and developers. For about 600 hectares in Patwari, the total compensation paid to farmers was over 450 crore. Yet they [...] Continue Reading »
The seven major builders active in the Noida Extension area on Wednesday announced they would repay – with interest – all those home buyers who wish to withdraw from the stricken housing projects after the Supreme Court’s order on Tuesday. In spite of the developers’ assurances, many members of Noida Extension Owners’ and Members’ Association [...] Continue Reading »
The pricing of properties in Noida Extension was between Rs 15 and 25 lakh for a 2/3-BHK flat since the rates and the unit sizes offered were less than those compared in Gurgaon. The per unit rate begins at Rs 45 lakh for a 2-BHK flat. However, the only way in which the SC judgment [...] Continue Reading »
