The Allahabad High Court’s judgment, which has awarded a greater compensation to farmers of Gautam Budh Nagar but has not stopped acquisition anywhere barring three villages, has left the real estate developers relieved.
With their projects finally getting a green light, the developers have hailed the judgment as a “balanced verdict”.
Almost all the major companies operating in the area — including Supertech Group, Amrapali Group and Gaursons — are getting ready for fresh bookings and new launches in the area.
“We will start bookings within the next three to four days,” said RK Arora, chairman and managing director, Supertech Group. New projects will be launched in a month, he said. These would be in the mid-segment (R3,000 per sq ft). “We will be launching around 4,000 units,” he said.
Manoj Gaur of Confederation of Real Estate Developers Association of India, Delhi-NCR Chapter (CREDAI-NCR) and managing director, Gaursons India, said the group would launch its second phase in another 15 to 20 days.
“We will be launching about 1,000 units in the premium segment and 3,000 units in the affordable segment,” he said.
Anil Sharma, vice president CREDAI-NCR and managing director, Amrapali Group, said work on the group’s earlier project, Leisure Valley, would start immediately and the group would launch 500 units after Diwali as part of the second phase.
In total, 2.25 lakh houses were planned in Noida Extension and bookings had been completed for one lakh units.