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Greater Noida West...Builders Paradise..Buyers Hell ?
It is actually Greater Noida!
News, Photos and videos of Projects of Amarpali, Supertech etc builders at Patwari, Sahebri etc villages..
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Spread over nearly 3,635 hectares, Noida Extension is around 4-5 km from Sector 121, Noida. The road from Sector 121 that crosses Hindon river reaches Sectors 1, 2, 3, 4, 16B, 16C, 10, 12, Techzone, Knowledge Park 5, etc in Greater Noida.
Noida Extention is living in uncertainty: Vijay Trivedi,deputy chairman, Noida Ext Flat Owners & Buyers' Association
OPEN LETTER TO GOVERNMENT OF UTTAR PRADESH G.NOIDA INDUSTRIAL DEVELOPMENT AUTHORITY THE NCR PLANNING BOARD & PRINT MEDIA
All photos on 6th August 2011 by Shri Suneel Dwivedi, PRO, parichowk.com...All photos are copyright/Legal action would be taken for copying photos
Greater Noida CEO Rama Raman on Master Plan 2021, Metro and Night Safari
Noida extension quick view of the sectors being developed, projects being developed...by parichowk.com .. on 13th August 2011
Video by parichowk.com on August 7, 2011
Noida Extension : UP Minister Jaiveer Singh said in a press conference that Greater Noida Authority and farmers of Patwari village in Noida Extension came up with an agreement on Saturday. According to the new agreement developed area to be given to farmers will be raised from 6 per cent to 8 per cent. The builders will also be allowed to construct more flats in the given area. This means the investors would not be affected. Patwari farmers' compensation was also raised by Rs 550 from Rs 850 to Rs 1400 per square metre. Press conference held at Greater Noida Board Room was also attended by Shri Surendra Nagar M.P., Shri D P Yadav, M.L.A., Shri Mohinder Singh, Chairman and Shri Rama Raman CEO, Village Pradhan of Patwari and Farmers of Pawari. Large no of media persons from Noida Greater Noida were present. in the case of Patwari village Allahabd High Court had directed to settle issue before 12th August.
In this segment of the latest episode of The Property Show, we look at the state of the projects in Noida Extension, where developers are having a hard time delivering projects and most deadlines have been pushed back by at least a couple of years. The best option right now would be sell as rates have appreciated little. A better investment option would be Noida Expressway, where most projects are under development and will be completed within a year. (Source NDTV)
Parichowk of Noida Extension
In a meeting spanning over three days, senior Authority officials negotiated with a group of 15 village 'representatives' from Patwari who were in turn being advised by a group of BSP leaders like Uttar Pradesh Minister Thakur Jaiveer Singh, MP from Gautam Buddh Nagar Surendar Nagar and D P Yadav. On Saturday finally, the Authority gave in to the Patwari villagers' two main demands viz. A substantial hike in compensation for the land already acquired and a blanket regularisation of all abadi claims. In return, all those villagers in Patwari who have approached the courts earlier seeking to reclaim their land will have to withdraw their pending petitions or, will have to take the required steps for recalling their petitions in case an order has already been passed on them.
Dream Valley Amrapali
On July 19, the Allahabad HC had denotified 589 hectares of land in Patwari that is the second largest piece of acquired land in the Noida Extension-Greater Noida area. The GNIDA had acquired the land in Patwadi three years ago after invoking the urgency clause on the pretext of laying down "industrial units" and 90 percent of the villagers eventually claimed their due compensation. Besides "Rs 1600-crore-worth" of real estate investments have already been put in the area. However, a little over two dozen villagers approached the HC this year submitting 50 odd petitions seeking the entire acquired land back. The HC order on the Patwari land had complicated matters in the Noida Extension-Greater Noida area since developers had gone ahead with major construction work in the area.
Dream Valley Chowk
July 29, 2011 Greater Noida
The story so far
It all started with the farmers of Shahberi village moving the high court earlier this year against the GNIDA, alleging illegal land acquisition and low compensation.
In May, the high court ruled in the favour of farmers, quashing the land acquisition by the GNIDA. On July 6, the apex court upheld the high court’s judgement, cancelling the allotment of five builders. Around 6,500 homebuyers were left in a quandary. Within a few days, SC asked developers to either give a refund to buyers or shift them to other projects.
Inspired by the victory of Shahberi village, farmers of Patwari village in the Noida Extension region went to the high court with similar demands and got a ruling in their favour on July 19. This ruling affected at least 20 projects and at least 25,000 buyers. This was followed by a spate of similar demands by emboldened farmers from at least 9-10 other villages of the region. The High court then decided to club all such petitions in a single hearing on Tuesday.
Exit is tough...
Though SC has asked developers to give an exit option to buyers and refund their money, the process is likely to get delayed. In fact, the process hasn’t even started yet. A Noida-based buyer, who spoke on the condition of anonymity, wants to exit Supertech Ltd’s Ecovillage 2 coming up in Noida Extension. But in the absence of a formal letter in this regard, he doesn’t know how to start the process. On July 19, the firm’s managing director, RK Arora, had announced that the company will contact its buyers soon. Many other buyers are finding themselves in a similar situation.
Most developers we spoke to said they would inform buyers about the two options as soon as possible, but admitted that the process may take time.
“We are in talks with GNIDA officials,” said Manoj Gaur, chairman, Gaursons India Ltd. “Buyers should not panic. Exit will not be an easy one. This is because we have already invested significantly on construction till date. And if any buyer comes to us seeking refund, giving away the money is not just a ‘sign on a cheque’ and ‘subsequent encashment’ of the cheque.”
But how long will they have to wait?
“The wait can be of six-nine months or even more, depending on the changing scenario,” said Smarjit Singh, managing director, Agni Property, a brokerage firm with a pan-India network.
...and so is shifting
The other option that developers have been asked to give is shifting homebuyers to other projects. However, this would work only if the shifts are happening outside Noida Extension. The reason: with more villages in the region moving court over the issue of land acquisition, other projects may also get affected.
For instance, for its Ecovillage 2, Supertech had given shifting options to Ecovillage 1 and 3. But on July 19, when the high court ruled in favour of the farmers of Patwari village, the land on which Ecovillage 3 was supposed to come up went back to the farmers.
Financing may pose a hurdle too
With uncertainty looming over the region, banks may exercise caution in financing projects there. HDFC Ltd refused to answer queries sent via email. Even ICICI Bank Ltd, which has a small exposure in this region, also refused to answer queries. When contacted on telephone, Punjab National Bank’s (PNB) termed the developments of Noida Extension as a Pandora’s box, “We adopt certain basic measures and precautions while disbursing loans,” said SK Singh, general manager, PNB. “Anything like developments in Noida Extension is completely not anticipated. There are more cases pending before the court.”
Moreover, even projects that are not affected in the region may face funding problems. Recently a reader from Ghaziabad, Ashish Dasgupta, wrote to us about such a problem. His lender, HDFC, refused to disburse the pending amount of loan for his project in Noida Extension even though the project is not affected by any judgement. Dasgupta has booked a flat in Mahagun Mywoods, Ebony Tower and his loan was approved by HDFC, Lohia Nagar, Ghaziabad. When he enquired with the branch about the status, the lender said that HDFC has stopped funding projects in Noida Extension.
Mint sent queries regarding the case to HDFC via email, to which the bank replied that it didn’t want to comment.
Noida Extenion issues - Press briefing by Greater Noida Authority CEO Shri Rama Raman, IAS, on 27th July 2011...Greater Noida Industrial Development Authority (GNIDA) on Wednesday invited farmers of the denotified Patwari village for talks on all contentious issues. At 589 hectares, Patwari has the second largest piece of acquired land in the area, besides "Rs 1600-crore-worth" of real estate investments riding on it. "The villagers have three main grievances, abadi (residential land) disputes, demand for higher monetary compensation, and for 6% developed plots. We have already begun resolving the abadi disputes and initiated the process of lease-back to return the abadi land to villagers. We will soon begin handing over the developed plots," Raman said. Asked whether the Authority will accede to the villagers' "demand of compensation at par with market rates for their land", Raman added that while the Authority will negotiate with the villagers and "ascertain the compensation rate that they are demanding, the same information will be passed on to the state, and the state government will take the final decision on the compensation rate".
March 2010: Noida Extension is basically Greater Noida’s Sector 1, this area is all set to give a tough fight to projects coming up in Noida, especially those in sectors 121 and 119, primarily in terms of price and location. Several builders have been allotted land here for constructing residential units both high- and low-rise structures. Commercial and corporate activity is also planned for the area as rates are less compared to the developed sectors of Greater Noida and Noida.
The nomenclature being used for the area is Noida Extension. This is to differentiate it from both Noida and Greater Noida, and also to make it clear to potential home buyers that it’s close to Noida and not as far as Greater Noida.
The new projects coming up here are located adjacent to Noida’s Sector 121 and face the 130 m road now known as the Noida-Greater Noida Link Road. This stretch is current ly under onstruction, with the first 10 kms likely to become operational within the next three months. A 60 m road connect from NH 24 also passes through the area.
This stretch is almost ready (work on 1.5 kms needs to be completed). “A 100 m wide commercial belt is planned on one side of the 130 m road as per the Master Plan 2021,” says Mukul Singhal, CEO, Greater Noida Authority.
Metro connectivity is com- ing here soon, too, with the Delhi Metro Rail Corporation Ltd (DMRC) having sent a detailed project report (DPR) to the Greater Noida authori- ty proposing the route for Phase 1. As part of this phase the Metro is expected to con- nect the Sector 32 City Centre to Barolla, the Expressway, Pari Chowk and Knowledge Park 4, covering a total of 29 kms. Phase II of the project will connect Knowledge Park 4, sector I in Greater Noida and Noida sectors 71, 72 with the Sector 32 City Centre.
Metro connectivity to the area is expected in the sec- ond phase. There is a reason- able expectation that it will come up soon,” says Singhal.
Developers who have been given land in this area include Supertech, Amrapali and Gaursons India Limited.
Gaursons have been allotted 130 acres to develop a township. “This is perhaps the first township that has been allotted by the Greater Noida Industrial Development Authority,” says Rahul Gaur, managing director, Gaursons India Limited.
Besides residential, the township will also have commercial and institutional areas. Almost 45 acres have been left as green areas. Saviour, another developer, is a partner in the project.
The housing products on offer are three types of two- BHK: 915 sq ft, 1,060 sq ft and 1,175 sq ft and three categories of three-BHK apartments: 1,270 sq ft, 1,405 sq ft and 1,480 sq ft. There will be 15-20 storeys on offer. The flats are priced at Rs 16 lakh onwards.
Supertech Eco I
Besides apartments for retail, plots are being offered to Cooperative Group Housing Societies (CGHS) where “we are offer- ing tailor-made apartments for govern- ment and PSU employees,” says Gaur. The township will also comprise a stadium offering facilities such as football, cricket and badminton academies besides schools, hospitals, multiplexes, hotels and offices. “We will open the retail sale of residential units within 15- 20 days. Construction will be spread over four phases. It will take us about five years to develop the entire town- ship. The Cooperative Group Housing Scheme will be delivered in the next 27 months,” adds Manoj Gaur, joint man- aging director of the group.
Mall under construction in Noida Extension near New Holland Tractors
The Supertech group has also launched Eco Village, a project that’s spread over 50 acres. It will be constructed in two phases and is expected to be complete in 30 months. On offer are one- to four-BHK apartments with areas ranging from 550 sq ft to 2,275 sq ft. The cost of the apartments start at Rs 9.75 lakh “Noida Extension will become the next preferable destination soon in terms of connectivity because of the proposed metro line and the infrastruc- ture development in the area,” says R K Arora, chairman and managing direc- tor, Supertech Group.
There would be both high rises (plus- 15 storeys) and low rises (plus-five storeys) in the Eco Village and it’s to be completed in four phases, the first one getting over in 15 months. “We hope to complete the formalities within one month and construction will begin in the first week of May,” says Arora.
According to Anil Sharma, CMD, Amrapali Group, which has its Amrapali Smart City project here, “We have been given 100 acres and plan to build 6,000 housing units right from 500 sq ft to 1,700 sq ft. The focus is on affordable homes. There will be 2,000 low-rise apartments and 4,000 apartments in 15-storey structures. Costs of the apartments will range from Rs 9 lakh to Rs 30 lakh. Construction will begin in April. The first phase comprising 3,000 apartments will be delivered within two years.”
Of the 120 petitions already submitted in the high court, 35 were moved in May this year following the high court order on land acquisition. And now, more petitions could pile up. 120 petitions cover an area of 2000 hectares, that villagers claim have been acquired by invoking the emergency clause.
July 7 2011 While the Supreme Court order triggered a wave of celebration in Sahberi village, it also set off a ripple effect in neighbouring villages, where emboldened residents are now seeking to reclaim their land.
The court order may be limited to 400 acres in Sahberi, but it may soon open the floodgates of litigation. And this could spell more trouble for buyers and developers who have invested in Noida Extension...More
BLUNDER BY Greater NOIDA AUTHORITY ...
When Greed clouds your thinking...this is what happens....you make BLUNDERS:- 1.The damage to RE scene by Gnoida authority is the biggest ever in this region...the brand value has been dented...investors will think 100 times before investing in Noida-Gnoida region 2.Gnoida authority in its GREED to make as much as possible by selling land totally forgot its goal...to develop Greater noida city as a planned and green city which will attract buyers 3. Greater noida city was given a cold shoulder (as most of land already sold..not much money can be made) and all attention to yamuna expressway and noida extension I ask what was the need of noida extension when nealry 90% of Greater noida main city is not even developed...people dont live there...roads are empty...plots vacant...as there are no efforts by Gnoida authority to create jobs in city. 4. Instead of concentrating on Greater noida city where residential, commercials..are EMPTY...Gnoida authority started talking about developing Noida extension and yamuna expressway. How the hell they can even think about knowing the fact that they havent even achieved 10% in Greater noida main city. Look at the sectors like ETA, Sigma, Omicron, Xu, Mu....they ALL look like Ghost towns..not a soul..its so less developed that it looks scary...With no jobs in city and such under developed sectors WHO in his normal senses will move to the city. 5. As if this was not enough..Gnoida authority started talking Big about noida extension and Yamuna expressway region to be developed as "World Class"...Gnoida authority..wake up...at least develop what u started 20 years back...then talk about expansion. 6. Now with farmers spoiling their show in Yamuna expressway and Noida extension (and RIGHTLY SO)...Gnoida authority is panicking...WHY ??...They have to be blamed themselves....Not only they have ruined investors and end users hopes....they are left with 3 regions to direct their already complacent mind...greater noida city, yamuna expressway, noida extension WHAT THEY SHOULD HAVE DONE: ============================ 1. Greater noida authority could have easily invested all their energy in Greater noida main city and invited MNCs to set up bases in city at good incentives....this would have developed all under dveloped sectors and investors in the region would have gained confidence. 2. Once nealry 80-90% Greater noida main city developed and a sizeable population (more than 7-8 lakhs) residing in city..with MNCs, good infrastructure...the prices of sectors in Gnoida would have touched a new high...commercials, office spaces would be doing good..rather than being empty like now. Metro and public transport in city working well 3. Once Greater noida well developed..THEN THEY SHOUD HAVE talked about yamuna expressway and noida extension as a cheaper option to greater noida ALL IS NOT LOST =============== 1. If Gnoida authorty wakes up even today..they can do damage control Instead of paying the media to print some news about greater noida infra projects worth millions "proposals"..which everyone is seeing from past 7 years...(there is a video clip of CEO talking about metro reaching pari chowk by 2012)...ITS TIME FOR ACTION 2. Like Wipro was allotted 140 acres of land at throwaway prices to attarct jobs in city...Gnoida authority should immediately located at least 8-10 HUGE sites around Greater noida city and INVITE COMPANIES DIRECTLY...not builders...invite MNCs to set up base directly in city..give them heavy discounts and incentives...with 8-10 such huge MNC campuses around the city...Huge job oppurtunities will come in city within 2-3 years.... 3. In the meantime MNCs are building their campuses...get metro to city as soon as possible...IF YOU DONT HAVE THE FUDS FOR METRO....There is an equally good , fast and much cheaper option...BRT CORRIDOR ON EXPRESSWAY. There is ample land adjacent to noida expressway...Start a BRT Corridor with ONLY A.C Buses from Alpha commercial belt, Pari chowk and straight to Noida expressway...Ending at Botanical Noida metro station. 4.Use these 2-3 years to make the region in reality a No power cut zone..new power stations,etc to meet demands 5.Increase the Police force by at least 2 times...give traffic police a free hand to chaalaan violators...even if they take bribe..the violater will still have to pay...and next time will be careful Within 3 years...with No power cut, more police presence and better security, 8-10 HUGE Corporate offices, Metro / BRT running from city...People will start moving in...thereby making sectors full.. Investors in sectors will gain as resale, rentals will increase...commercials will gain as they will have business...city will develop ONCE THIS IS ACHIEVED....then only talk about noida extension or yamuna expressway.. WAKE UP AUTHORITY...ENOUGH IS ENOUGH....JUST TALKING ABOUT "PROPOSED PROJECTS" AND SHOWING THEM ON PAPER WILL NOT MAKE THIS CITY...YOU ARE KILLING A GOLDEN GOOSE....WAKE UP....