The Times of India 30.08.2012
Noida Extension plots to get ‘zero period’ respite by Authority
NOIDA: Over 3,000 individual plot owners in Sectors 2 and 3 of Noida Extension, whose investments had been hanging due to the land imbroglio for the past over one year, have got relief with the NCR Planning Board approving Greater Noida Master Plan
2021. The plots – in sizes of 120, 200 and 220 sqm – had been allotted
through a lucky draw by Greater Noida Authority in 2008.
The Authority
has said that ‘zero period’ would also be applicable on these
individuals.Last year, when the land row was at its peak, there
were proposals of hiking rates of these residential plots by around Rs
500 per sqm. However, the rates were not hiked and allottees had been
paying instalments at the original rates.
“My instalments are up to date
since we had been assured by the Authority that we would be given
possession of these plots,” said Saket Budhiraja, director in a
Delhi-based private company.Speculation of soaring land rates
has once again prompted property dealers to call up these allottees
offering them high rates for their plots
. Earlier, the same allottees
had alleged of being coaxed by property dealers to dispose off their
properties at cheap rates given the uncertainty prevailing over Noida
Extension.Allottees say they are now being offered more than
twice the rate at which they had been allotted these plots. “Property
dealers have been offering me between Rs 25,000-Rs 30,000 per sqm,” says
Sumit Bansal, employee in a Noida-based private firm. “Earlier, they
used to coax me to sell below Rs 10,500 per sqm, which is my original
rate of allotment,” he added.The allottees, however, complained
of having had received no communication so far from the Greater Noida
Authority after the clearance of the plan.
The Greater Noida Authority
has clarified that interest will not be charged on these allottees for
the ‘zero period’. “The concept of zero-interest period would be
applicable to all plot owners if their land falls within the Greater
Noida area covered under Master Plan 2021,” said Rama Raman, CEO of
Greater Noida Authority.
