G Noida projects to resume in a month
The Allahabad High Court judgment has been welcomed by the authorities of both Noida and Greater Noida.delhi Updated: Oct 22, 2011 01:46 IST
The Allahabad High Court judgment has been welcomed by the authorities of both Noida and Greater Noida.
The Greater Noida industrial development authority has said all projects in Noida Extension would resume in a month, even though the court had stayed the projects till Greater Noida’s master plan-2021 was cleared by the NCR planning board.
“We had already sent our plan to the NCR planning board, seeking their suggestions and objections,” said Rama Raman, Greater Noida chief executive officer. “Now that the court wants it approved by the planning board, we will get it done and all projects will resume in a month.”
The authority had already told builders to pay R2,250 more per sq m for funds spent on out-of-court settlements.
Plus, for fresh auctions, the authority has hiked the residential land price by more than 50%.
But the hiked compensation for the farmers might spell trouble for the Noida authority. The court has asked the authorities to pay 64% additional compensation and give 10% developed land to farmers.
But unlike the Greater Noida authority, the Noida authority had neither increased cash compensation, nor increased the area of plots given as part of rehabilitation benefits despite a sustained agitation.
Asked how the authority would allot bigger plots in the face of paucity of land and increased compensation, as it has maintained the quantum of relief paid could not be hiked further, Noida authority chairman Balvinder Kumar said: “Let us go through the judgment. We accept the judgment. It couldn’t have been better. We will do the needful.”