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A ray of hope for property buyers

Noida Extension Flat Buyers' Association has welcomed the Patwari pact.

india Updated: Aug 08, 2011 02:13 IST
Kapil Datta

Noida Extension Flat Buyers' Association has welcomed the Patwari pact.

"At least some pattern has emerged on which the authority can negotiate with other villages," association president RP Tyagi said. "We are thankful to the court which considered investors' problems and allowed time to the government for such a settlement," he said. "We also thank the farmers who kept our interest in mind and reached the settlement," he added.

Usha Sachdeva, an investor, said, "It is a big relief to us." There are fresh hopes among buyers who invested their hard-earned money in pursuit of dream houses in projects under-construction or planned in village Patwari. "With specter of entire Noida Extension project being jeopardised, even relocation was not an option. We know that with the kind of money - Noida Extension was supposed to be an affordable housing hub - we put in, we would not have been able to buy houses anywhere else," most Patwari buyers said.

"After Shahberi, I felt good that I had booked my house with Supertech's Eco Village I. But the Patwari judgment crashed my dreams. Now, there's fresh hope," said Sandeep Sharma, a buyer. "I have paid R4 lakh till date. My loan was not sanctioned by the bank, which said it had stopped financing Noida Extension projects. I had arranged money from my friends to pay the installments," he said.