Latest Real Estate News on 'Noida'

Flat buyers protest at realtor office

Comments Off on Flat buyers protest at realtor office   |  March 4, 2014

NOIDA: More than 100 people who have booked flats in the Jaypee Greens Klassic and Jaypee Greens Kosmos housing projects staged a protest in front of the builder’s office in Noida on Saturday, alleging a long delay in the houses being handed over to them.

The protest was called off after Jaypee Infratech CFO Sachin Gaur and other company officials met the flat-buyers. Both Klassic and Kosmos are along the Noida-Greater Noida Expressway and were launched in November 2008 and July 2009, respectively. The handover of flats, according to the Jaypee website, was to begin in 2012.

Vipin, who had booked his flat in Kosmos in 2009, was among the protesters. “Due to pressure from customers, the company has agreed to expedite work and provide firm possession dates,” he said.

When contacted, Gaur told TOI the flat-buyers’ issues had been recorded and would soon be sorted out. “A range of issues was discussed in the meeting and they will be shared with the top management of the company. Soon, all issues will be sorted out,” Gaur said.

Both Klassic and Kosmos are a part of Jaypee Greens Wish Town. Klassic is a residential community with 13 towers of 19 storeys and 2,886 flats while Kosmos has 16- and 17-storeyed towers with a total of 6,282 apartments.

National Green Tribunal questions sand miners

Comments Off on National Green Tribunal questions sand miners   |  February 24, 2014

NOIDA: The National Green Tribunal (NGT) on Wednesday asked 49 people accused of illegal sand mining in Gautam Budh Nagar to justify why they should not be penalized for degrading ecology. Police had caught them for illegal mining on the Yamuna riverbed in the district.

The principal bench of the tribunal headed by chairperson Justice Swatanter Kumar issued this order while hearing a petition against illegal sand mining.

On Wednesday, police and UP government informed the tribunal 129 people have been nabbed for illegal sand mining in Gautam Budh Nagar. The 49 people issued notices by the bench are among those 94 who have already been served notices by the police.

The tribunal has also given the state power to serve notices to the remainder 35 offenders. Further, the principal bench outlined in the order on Wednesday that the case would be restricted to the environmental aspects of illegal sand mining alone.

“We make it clear that the proceedings in this application shall be confined to ecological and environmental degradation resulting from illegal mining as well as for removal of seized sand against whom FIRs have been registered,” states the order.

Noida Authority cleans up Sector 20 mess

Comments Off on Noida Authority cleans up Sector 20 mess   |  February 24, 2014

NOIDA: A day after TOI reported that Sector 20 was littered with garbage across its lanes and parks for over a month, the Noida Authority rushed into action to clean up the mess on Wednesday.

Residents noticed Authority officials visit the sector and take stock of garbage lined up early in the day. By 2.30pm the entire sector was cleared of garbage into tractors. “Labourers were still working late in the afternoon to clean up whatever little was left,” said Suresh Tiwari, vice-president, Sector 20 RWA.

Tiwari said residents had been braving the apathy of Authority officials till the press took up their cause. “After TOI’s report, the sector has been cleaned up. We can now look forward to fresh air and stress-free morning walks,” said Tiwari.

When asked, deputy director Rajendra Kumar said they were busy pruning trees so there was a delay in cleaning up the sector. “There will be no further problems in garbage disposal ,” Kumar assured.

Registry charges for extra facilities in housing societies set to go

Comments Off on Registry charges for extra facilities in housing societies set to go   |  February 22, 2014

NOIDA: The stamps and registry department has decided to reduce circle rates, especially in the group housing and commercial categories, as it has failed to achieve the annual target revenue. Senior officials of the stamps and registry department said that they were not able to generate the revenue due to a steep hike in circle rates undertaken earlier.

The target revenue for Gautam Budh Nagar for financial year 2013-14 is Rs 1,536.60 crore. However, till January, the department has only managed to earn Rs 1,083 crore. Officials said that in the past few months the number of properties being registered have gone down due to the steep hike in circle rates. In 2012-13, the department’s target was Rs 1,835.30 crore, but it was only able to earn Rs 1,015 crore.

In the group housing category, the registry department charges 5% extra for each facility being provided, like swimming pool, club, etc. However, the aggregate of all facilities has a cap of 25%. “If the circle rate in group housing is Rs 55,000 per sq metre, then buyers end up paying Rs 67,500 per sq metre (25% extra) for enjoying five facilities. We have found this to be unjustified and proposed to curtail charges on extra facilities. We have also proposed slashing rates in the commercial category by at least 10%,” said a senior department official.

“The proposal will be sent to the district magistrate who in turn will send it to the Allahabad head office,” the official added.

Officials said that hike in circle rates of the residential category will be dependent on the lease rent, the rates of which are varied. “In some lease deeds, the authorities charge 1% as lease rent, while in others 2.5% is levied,” an official said.

Real estate experts have welcomed the move and suggest that this is the best time for investment. At the same time they have criticized the earlier policy of the government in hiking circle rates. While the current circle rates for residential category in Noida is Rs 55,000 per square metre, the commercial rates vary between Rs 75,000 to Rs 1.5 lakh per square metre. Surprisingly, in neighbouring Ghaziabad, circle rates for residential category is Rs 50,000 and commercial is Rs 1 lakh. If the circle rates in Noida are lowered, property would become officially cheaper even though market rates would remain higher in Ghaziabad.

Last year, circle rates were increased by the department despite opposition by city residents and homebuyers. At the same time the authorities had hiked property rates by up to 30%. Greater Noida Industrial Development Authority has last week in its board meeting announced a 10.21% hike in the allotment price across all categories of land in the city.

Developers said circle rates in Noida are unrealistic. “We have raised this issue on various platforms through CREDAI. In some cases market rates are below prevailing circle rates in Noida, but the buyer has to pay a higher registration tax,” said Manoj Gaur, president CREDAI (west UP) and MD of Gaursons. “This decision should have been taken earlier as it will reduce the burden on buyers,” said Amit Gupta, MD, Orris Infrastructure and Assocham member.

Slum dwellers decry Authority’s flat plan

Comments Off on Slum dwellers decry Authority’s flat plan   |  February 17, 2014

NOIDA: A demonstration was held in front of the Noida Authority office on Friday to highlight alleged irregularities in the allotment of flats under the JJ Dwellers Resettlement Scheme. Protestors alleged that the list of allottees issued by the Authority contained a number of fake names and non-applicants.

The protest was held by the Noida JJ Sanyukt Punarwas Manch, an association of slum-dwellers in the city. Members demanded that the scheme be scrapped as the survey conducted to select allottees was faulty.

“Strict action should be taken against those who have connived with the Authority to misappropriate flats. Officials found guilty of irregularities should be punished,” said Gangeshwar Dutt Sharma, the association’s convenor.

The association claimed around 3,500 names had been listed by the Authority for the flats in Sector 122. “The actual number of families living in slums is much higher. The scheme has been launched to benefit a few influential individuals,” added Sharma.

The Noida Authority said the list of flat allottees was published in advance to invite objections and suggestions from the general public. “We are in no hurry to finish the allotments. Objections raised by slum-dwellers will be considered on their merit after which the final list will be published,” said Akhilesh Singh, DCEO, Noida Authority.

According to members, a survey undertaken by the Authority to identify slum dwellers that had been abandoned mid-way had found more than 11,000 slum dwellers.

Members accused the Authority of setting a high price tag to the flats. Such figures would not be affordable to those engaged in low-paying professions, they said.

Farmers agitate for abadi land

Comments Off on Farmers agitate for abadi land   |  February 16, 2014

NOIDA: The protest by farmers in Gautam Budh Nagar against the state government entered its sixth day on Tuesday with a dharna continuing unabated in Greater Noida.

Upping the ante against the Samajwadi Party government for not granting approval to the policy of returning abadi land (land under habitation) to farmers, a group comprising 70 district villages are camping outside the Greater Noida Authority office.

The policy was not cleared in the cabinet meeting held last week in Lucknow. It had been sent by the Authority for its approval last March. As per the policy, abadi land that had been acquired along with farmlands in Greater Noida by the previous Bahujan Samaj Party (BSP) government was to be returned to the rightful owners.

Under pressure from farmers during the height of the land acquisition row two years ago, the BSP government had been forced to promise the return of portions of land that had been acquired despite being inhabited by villagers.

“We have met Samajwadi Party leaders as well as senior government officials in the last two years demanding return of abadi land. The approval of the policy would have a direct impact on the lives of 10,000 farmers in the district,” said farmer leader Manvir Bhati.

Farmers are also enraged over the state government’s lack of focus on the development of Greater Noida. They have alleged that the government’s decision to utilize funds generated in Greater Noida for the other districts of UP does not augur well for the development of Gautam Buddh Nagar.

The agitators have also demanded that lease deeds that are being granted to industries in the city should contain a clause for providing mandatory employment to a certain percentage of local youth.

Mixed land use policy to soon be implemented after govt’s approval

Comments Off on Mixed land use policy to soon be implemented after govt’s approval   |  February 10, 2014

NOIDA: After an in principle approval of mixed land use policy for specific areas within industrial and residential sectors in November last year, Noida Authority on Thursday held a meeting with residents and entrepreneurs to discuss the issue.

Taking the proposed policy a step closer to its implementation, over 60 suggestions and objections were received by a panel of officials, who said that the proposal will be forwarded to the state government for its final approval.

The meeting, which was initially scheduled to be held on Monday, was attended by over a hundred people including office bearers of the Federation of Noida Resident Welfare Association (FONRWA) and Noida Entrepreneurs’ Association (NEA).

In favour of mixed land use, FONRWA has called the commercialization fee formulated by the Authority “unreasonable and exorbitant”.

As per the proposed policy, interested allottees owning residential and industrial property will be able to convert it into mixed land use by paying 50% of the cost difference between the prevailing residential or industrial sector rate and the reserve price of the commercial rate of the area where the property is located.

“The conversion cost should be 10% instead of 50% and commercial activity should also be allowed on 18m-wide roads instead of only on 24m roads,” said NP Singh, president, FONRWA.

“The Authority should also allow ATMs, nursing homes, laundry services, grocery shops and banks in residential sectors,” he added.

Seeking relaxed land use norms for guest houses, restaurants, nursing homes and banks in industrial sectors, entrepreneurs said that the policy should not be limited to just auto showrooms.

“Industrial Sectors like 9 and 10 need to be commercialized as the plots are too small to run industries here. Owners can be charged a conversion fee amounting to 50% of the circle rate,” said Vipin Malhan, president, NEA, adding that the policy should not be limited to just 24m-wide roads.

The proposal to allow guest houses in residential areas was unanimously opposed. “Most people don’t mind allowing commercial use of residential property because it fetches money. However, care should be taken so that sanctity of residential areas is preserved,” said Singh.

“Guest houses could prove to be a nuisance,” added another RWA member. Singh said that affidavits need to be taken by the Authority from owners desirous of adopting commercial activities to ensure adequate parking facilities, especially in residential areas.

According to Authority officials, suggestions and objections would be studied. “They will be discussed with senior officials,” said Manoj Rai, OSD, Noida Authority.

“Once we have disposed of these, it will be approved by the Noida board,” Rai added. The Master Plan-2031 and Noida’s building byelaws will be amended once the policy gets a final nod from the state government, officials said.

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