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Masterplan delay a jolt for Noida Extn homebuyers
In a fresh jolt to homebuyers in the stuck Noida Extension projects, the NCR Planning Board has refused to set a deadline for clearing the Greater Noida Masterplan 2021, without which the projects cannot take off. Four months ago, however, the Allahabad high court gave a compromise formula, saying while the land would remain with the builders, farmers would get increased benefits.
The trouble began in May 2011, when the HC returned the land to farmers in the Shahberi village and the Supreme Court upheld the order. The HC quashed acquisition in the Patwari village too.
Although the Shahberi projects could not be revived because of the SC order, a larger HC bench said in October that realty projects could go on only if the masterplan was approved by the NCR planning board, a central body.
The board has blamed the UP government for delay, as the Greater Noida authority moved court with a review petition, saying the NCR planning board did not have the powers to approve the state’s plans.
Now, the authority wants to resume the projects without the NCR board’s nod. Of the 2.5 lakh housing units planned in Noida Extension, one lakh have already been booked.
The home-buyers quoted the board’s member secretary Naini Jayaseelam as saying: “We received the complete Greater Noida Masterplan 2021 only in January 2012. The UP government itself delayed matters.“
Abhishek Kumar, president of a buyers’ association, said, “Buyers are suffering because of a Centre-state tussle.“
Replying to an RTI plea, the board said the masterplan would be placed before the statutory planning committee and its recommendations would be sent to the NCR board. The process could take two-three months.
hey staged demonstrations, took out protest rallies, argued with officials and filed RTI applications. And, while doing all this, they have been gradually losing hope. Nine months after the affordable housing dreams in Noida Extension received the first setback, life for thousands of homebuyers has changed forever.
Shweta Bharti (40) is an IT professional. She lives in a rented flat in Delhi’s Janakpuri and works there. “It’s a multipronged battle. We are paying monthly rents. EMIs are draining us. After five months of battle, a judgment in October raised hopes, but construction has not yet started,“ she said.
Devendra Kumar (35), another IT professional, said, “I stay and work in Mayur Vihar. But much of my time is consumed in pursuit of my house. We have formed a group with our office in Noida sector 5. We know this fight is taking a toll on our personal and professional life.“
For an average house cost of R20 lakh, a buyer has deposited 10% -R2 lakh. He was supposed to deposit 10% more at a later stage. His bank has financed 40% (R8 lakh). Forty per cent more was to be financed later. The monthly EMI is between R10,000 and R15,000.
An equally big amount goes in rentals per month.
Abhishek Kumar, president of a buyers’ association, said, “Going by the builders’ promises, buyers should have got the possession by now. Without rentals, we could have managed EMIs. But everything looks so uncertain now. No bank has offered us any relief.“
A larger bench of the HC raised hopes of a realty revival in October last year when it ruled that land would remain with builders and farmers would get increased benefits. But there was a catch. The court also said construction would not begin till land use changes made to Greater Noida’s master plan to create a Noida Extension housing hub were cleared by the NCR planning board in Delhi.
Four months have gone by but the approval has not come.
FRESH TROUBLE Meanwhile, builders have stopped giving money to the authority (to be distributed among farmers) and the authority is not giving plots of developed land to farmers as it cannot undertake development activity. Farmers have moved the Supreme Court, seeking their land back. LAND ACQUISITION ROW Dreams of affordable housing have been caught in legal hassles In Noida Extension, 2.5 lakh houses have been planned and 1 lakh units booked.
Considering the average cost of a house (R20 lakh), the idea was to rake in R50,000 crore.
Nearly 1,00,000 flats worth R20,000 crore have been booked.
Banks have sanctioned R2,166.2 cr as home loans and other construction loans for real estate projects in the THE STANDS “As soon as the NCR board approval comes, we will start construction. Immediate delivery of flats is our priority“ -ANIL SHARMA a builders’ representative “Noida Extension has become a battleground for UP and the Centre. Both are playing vote-bank politics.“ –DEVENDRA KUMAR a buyers’ representative “We received the Greater Noida master plan only in January 2012.
The Uttar Pradesh government itself delayed matters. We cannot set a deadline for the approval –NAINI JAYASEELAM, NCR board “We have filed a review petition in the high court, seeking early resumption of Noida Extension projects“ –RAMA RAMAN Greater Noida authority QUESTIONS THAT NEED ANSWERS Why the Greater Noida authority has failed to get its master plan cleared Why builders did not stop bookings after farmers challenged acquisition If land use was changed, resulting in halting of projects, whose fault is this Why the banks sanctioned loans when the title of the land was not clear
Source: http://epaper.hindustantimes.com/PUBLICATIONS/HT/HD/2012/02/20/ArticleHtmls/Masterplan-delay-a-jolt-for-Noida-Extn-homebuyers-20022012001008.shtml?Mode=1
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