Anxious homebuyers decide to meet today | india | Hindustan Times
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Anxious homebuyers decide to meet today

india Updated: Oct 22, 2011 23:04 IST
HT Correspondent
HT Correspondent
Hindustan Times
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A day after the Allahabad high court cleared land acquisition in 60-odd villages, barring a few where no real estate activity was on, hope has begun floating for thousands of middle-class buyers.

They have decided to meet at the Noida Extension roundabout on Sunday, where they protested for months when courts first quashed land acquisition in village Shahberi and Patwari.

"These people despite having put in their hard-earned money in pursuit of their dream houses remained in despair for months because of the ongoing acquisition imbroglio," said Ravi Sinha, a buyer.

And there are several issues to deal with such as accumulated interest on EMIs, changes in builder-buyer agreements.

"The court order has fuelled fresh hopes of resumption of projects. But the authority is not saying much. Builders are already asking for payments of instalments with interests," said office-bearers of Noida Extension Flat Owners Members Association.

The Confederation of Real Estate Developers' Association of India (CREDAI) has said despite the court order to the authority to pay more cash and bigger developed land plots to farmers, the existing buyers will get flats at committed prices. At a press conference held on Friday, builders termed the court order 'good and balanced, but not giving entire relief to any stakeholders - the government, farmers, builders and buyers'.

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