Wednesday, July 20, 2011

Noida Extension Buyers Vie.

“Noida Extension”, to which around 30,000 people were looking into is now seems to be in dump. Because of its affordable houses, it was among the priority list of the investor s as well as buyers. A normal middle class family who have put up their hard earned money is now waiting for the supreme court’s verdict.

Noida Extension came up into the news with lots of new projects launches, there are more than 63 projects coming up in that area of some reputed builders and some new builders whom one has never seen. Though people have the apprehension about the upcoming builders of that region regarding project delivery whether they will be able to deliver the project or not and there’s one more possibility that they simply collect the money from the builder and run away with every thing.

NOIDA Extension has always been into a dicey situation. It is connected with NOIDA, Gr. NOIDA, Faridabad, Ghaziabad, delhi. So it was considered to be the best deal for the buyer. But no one has the clear picture about the land clearance. And the brokers whom you always find sitting out side the site or the builders office will always say ‘yes’ for everything.

You ask them “is the land clear? ”.

They will say “yes sir, it has got all the clearance”

You ask them “will I get all the ultra luxury here?”

They will say “ yes sir, off course you will.”

Brokers just have the one thing clear in their mind that they all they need to do is simple S A L E. they never considered the clients sentiments nor do they know about the business ethics.

And in all this hush hush NOIDA extension was sold!!.

With the news of Bhatta Parsol farmers compensation, the land allotted to noida extension and Yamuna authority came into the picture.the buyers raised their question about the land approval from the governments side. the farmers of extension also raised their voice againt the compensation. And the shahberi village people were the first among here. Builders got affected were amrapali, mahagun and supertech in the first. Farmers approach towards Authority have led the scrapping of projects. Farmers are demanding for new compensation according to them 589.13 hectares of land was acquired in 2008, and the compensation was paid at Rs.850 per sqm to 6,000 families and out of which 215 families are refusing for the compensation. Authority have sold this to builders at Rs.10000-12000 per sqm. Which now makes the farmer to look out for the more compensation from the authority side. Authority says that it want the compensation back from the farmers and land will be returned to them. And farmers says that if they need to return the compensation then they want the land to back in the same condition as they handed it to the authority 3 years back with the loss of crops too.

So the poor farmers seems to be in win –win situation, they already got their compensation which they have spend, can get their farmlands back.

Builders are keeping mum they are not in a position to comment on anything, where the reputed builders are offering to shift the buyers into their other projects, but what about others, the new comers who don’t have enough monetary background and who just entered with their first projects into real estate seems to be helpless. Acc. To authority norms builder has to pay back the entire amount in the 8 years. And most of them have got the maximum amount from the client’s side so they don’t seems to be in that much of trouble.

Who is the sufferer in the over all picture?


Buyers who have spent their time in searching for a project and making up their mind to put up their money in NOIDA Extension seems to be the sufferer here, they have lost their money, their time what not and with all this happening their dream to own a sweet home seems to be shattered. And on top of that they are paying EMI’s also to the bank, they are being charged of interest for taking a loan for a house which they can’t own.

All in all it’s a total loss for buyer, but we are still keeping our hopes high and waiting for the supreme court’s verdict in this regards.
This a time to connect with all the noida extension buyers , to help each other out so that we can fight against this vie.


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