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Showing posts from October, 2011

Farmers, Noida Ext allottees stand to gain

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If you were one of those who found themselves stuck in one of the controversial projects in Noida Extension, the deal seems to be now in your favour. With the Allahabad high court expected to increase compensation for farmers, who are protesting alleged illegal land acquisition, the cost of the land will go up. So the same land will cost more to the developers, who will recover this extra cost from new homebuyers. And in such a scenario, existing apartment allottees will see a price appreciation. By Shyamal Banerjee/Mint This also means that new homebuyers will find the deals more expensive than before. Apart from the developers, at least 4,000 plot owners in the area will also get affected and will have to shell out extra. The Allahabad high court completed the hearing of all 491 remaining petitions in the ongoing land acquisition controversy in Greater Noida on 30 September and has reserved its final judgment. Sources close to the development say that the judgment may come a