With Saturday's meeting between builders and buyers failing to clear clouds of uncertainty, about 300 buyers - who have booked flats in projects planned at village Shahberi- protested at Noida Extension and demanded immediate refund with compensation. They alleged both the authority and builders were not doing much to ensure their investments were safe.
Noida Extension, billed to be a mega housing hub in the NCR, is in the midst of a major crisis after a court judgment quashed the forcible acquisition of entire land in Shahberi, causing the fate of thousands of under-construction and planned houses to hang in the balance.
Ravi Garg, who has booked a flat in Panchsheel Green, said, "Farmers are rejoicing as they have got their land back. We don't have any problem. But what's our fault? We have also put in our hard-earned money. I had myself taken a loan of R15 lakh. No one is concerned about us."
"The builder is saying when the authority returns money to builders, buyers will be refunded. They cannot put us on hold like this."
Buyers who demonstrated at Noida Extension said they were pooling in money and bracing for a long-drawn battle. Manoj Indoria, general manager (sales) at Panchsheel, said, "Our project falls in two villages - Itaidha and Shahberi. Of the 29 towers, 12 are safe. We have already requested the buyers to get in touch with us before they can be relocated."
Sushil Kumar Srivastav, who has booked a flat in Eco Village I with Supertech, said, "The builder is saying my money is safe. But there is no clarity. There is no guarantee." A resident of Delhi's Laxmi Nagar, Srivastav has taken a loan of R11.5 lakh. Om Prakash Mishra of Vaishali ( Ghaziabad ) had opted for the same project and took a loan of R10 lakh. He said, "Farmers of Bisrakh where the project is located has stopped construction work off and on. Panic has definitely set in."
Amit Sarkar of Ghaziabad had taken a loan of R5.5 lakh and booked a flat in Panchsheel Green. "The builder is saying my money is safe. But there is a lot of uncertainty looming as farmers from other villages are moving court seeking quashing of land acquisition," he said.
On Friday, Greater Noida CEO Rama Raman said those who have booked flats in Shahberi village would be relocated or refunded and told builders to approach each and every buyer and ensure speedy redressal of their problems. But his instructions have failed to help much. On Saturday too, hundreds of anxious buyers swamped developers' corporate offices as well construction locations and site offices in Noida Extension.
The Greater Noida CEO has said builders have to relocate buyers but no relocation will be done without buyers' consent. "Builders must refund those who don't want to relocate. We will bail out builders too, mainly to ensure buyers get their money back if they so wish," he said. But despite frequent meetings with builders, buyers are looking anything but assured.