The Greater Noida Industrial Development Authority (GNIDA) seems to be in damage control mode but not much is their hands.
With the apex court directing GNIDA to hand over land to the villagers and farmers, nearly 10,000 houses being built by key real estate players, may never see the light of day.
Though builders have offered refund and relocation, the authority has little options.
GNIDA has allotted 2,000 acres of land worth Rs 9,600 crore to builders in Noida Extension.
“In case of acquisition of greater parts of land in Noida Extension being set aside in future, it will be extremely difficult for the authority to acquire this big a chunk elsewhere swiftly due to the ongoing farmer agitation, besides mounting political and judicial pressure,” said an official. No official is willing to come on record. Otherwise, the common refrain is: “We have to respect the court decision. Though we will never give trying to find a solution in the interest of thousands of people who invested their hard-earned money in pursuit of their dream houses, there is not much hope at this stage.”
Returning money to builders is equally nonviable — both financially and for the sake of the authority's reputation.
“We have failed to make Shahberi farmers fall in line. The amount (R4,000 per sqm) the farmers want is way higher than the highest compensation (Rs 1,100 per sqm) any development authority has ever paid in the state,” another official said. He said, “Hike in compensation will lead to hike in land rates and cost of houses, undermining the concept of affordable housing.”