Property prices set to soar in twin cities
The land row in Noida and Greater Noida will make houses costlier in both cities.india Updated: Aug 03, 2011 00:05 IST
The land row in Noida and Greater Noida will make houses costlier in both cities.
To pacify agitating farmers in Noida, the authority, which is short of land in any case, has squeezed out 125 hectares of developed land. This land, reserved for housing schemes in the city, will be used for allotment of plots among farmers in 20 villages.
Of the 54 villages in Noida, 40 have been agitating for plots for years. So, more land is still required.
“There will be no land left for allotment to developers. Demand for houses in Noida is ever-increasing. Land prices are bound to go up considerably,” said a senior official.
Apart from 10,000-odd farmers who are seeking developed land plots, about 4,500 farmers in 11 villages of Noida, whose land was acquired before 1997 (allotments were not made before this period), have also launched an agitation.
“For this segment, we’re looking for left-over plots,” said the official.
Planning department officials of the authority say in order to meet demand, the authority has the option of raising the floor area ratio (FAR) that allows construction of bulkier buildings.
“But, this alone cannot solve the crisis. Land rates have to go up,” an official said.
In Greater Noida, the situation is different. Here, two court decisions have quashed forcible acquisition of about 750 hectares of land in two villages. Other villages have also moved court.
“The process for an out-of-court settlement is on. If the farmers are paid more, land prices will automatically go up,” said an official.
Though Greater Noida has not yet exhausted its land bank, a large number of farmers in this city have to be allotted developed land plots as part of post-acquisition rehabilitation benefits.
“If there is no out-of-court settlement, land has to be re-acquired under the state’s new acquisition policy, which leaves less saleable land with the authority,” said another official.
First Published: Aug 03, 2011 00:01 IST