After several postponements, the Allahabad high court is likely to begin the hearing of Noida Extension land acquisition cases from Monday. However, homebuyers are less panicky this time around.
The Greater Noida authority has struck deals with farmers in three villages — Patwari, Itaidha and Haibatpur — and is in talks with other villages in the area, where 2.25 lakh houses have been planned. But these houses are facing a threat as farmers are moving court to get their land back.
The farmers contend the authority has grabbed their land and they want it back, thus creating panic among real estate players and homebuyers. Courts have quashed forcible land acquisition carried out by the authority in Shahberi and Patwari villages, affecting 26,500 houses.
A total of 1 lakh buyers have booked houses in Noida Extension. “We’re paying relief and offering high value plots to those agreeing to allow resumption of stuck real estate projects,” said an authority official. “The authority will seek the court’s approval to the agreements being worked out and time to resolve the issues in all villages of the area,” he said.
After announcing an out-of-court settlement with farmers in Patwari a month ago, the authority is now working out similar pacts in Haibatpur and Itaidha. While 20,000 houses booked in Patwari “look safe”, a deal in Haibatpur and Itaidha will save 12,000 units.
Unlike the increased compensation-based pact in Patwari, the authority is mainly offering developed land to farmers in the two villages. Farmers were already entitled to plots measuring 6% of the total land acquired. As per the Patwari pact, the area was hiked to 8% and farmers were paid an increased compensation of Rs 550 per sqm — taking the earlier cash package from Rs 850 per sqm to Rs 1,400 per sqm.
{{/usCountry}}Unlike the increased compensation-based pact in Patwari, the authority is mainly offering developed land to farmers in the two villages. Farmers were already entitled to plots measuring 6% of the total land acquired. As per the Patwari pact, the area was hiked to 8% and farmers were paid an increased compensation of Rs 550 per sqm — taking the earlier cash package from Rs 850 per sqm to Rs 1,400 per sqm.
{{/usCountry}}The authority is spending more than Rs 300 crore in Patwari. It will give farmers in Itaidha and Haibatpur 11% plots, 3% area increase in developed plots will roughly amount to the cash benefit given in Patwari. In Itaidha, builders are buying these plots at Rs 18,000 per sqm.