Wednesday, July 20, 2011

Noida Extn dreams crumble as court scraps another acquisition

              Panic gave way to complete despair among home-buyers in Noida Extension on Tuesday, as another court verdict ordered restoration of acquired land to farmers — the second such judgment in less than two weeks — putting in jeopardy the investments of around 30,000 buyers so far.
              The Allahabad High Court quashed the state’s notifications acquiring 589 hectares of farmland in Patwari village in Greater Noida. The land was later sold to builders through auction and 11 housing projects were coming up there.
              The verdict, involving the largest chunk under litigation in the area, will affect around 20,000 buyers of flats and villas as well as 4,250 people who were allotted plots of sizes between 120 and 220 sq metres through lottery by the Greater Noida authority in 2009 and 2010.
              The land in question will now have to be returned by the builders to the authority which will then hand it back to the original owners. The high court has so far reversed the acquisition of around 70% of land in Noida Extension.
              With three more farmers’ suits coming up in the next seven days, all land in the area seems set to be returned to farmers. These lands too were acquired by the authority by invoking the urgency clause without giving them the opportunity to raise objections. The Greater Noida authority is considering approaching the Supreme Court. No urgency for acquiring farmers’ land, says court
              Noida Extension, which is actually sectors 1 to 4 of Greater Noida, covers around 2,000 acres. GNIDA had acquired land in Patwari village three years ago after invoking the urgency clause on the pretext of laying down industrial units, and 90% of the villagers had claimed their compensation. However, around two dozen villagers had approached the Allahabad High Court earlier this year and submitted roughly 50 petitions seeking restoration of the acquired land.