In yet another jolt to the Uttar Pradesh government’s plan to build a residential hub on 2,000 acres in 11 villages in Noida Extension, the Allahabad high court on Tuesday, July 19, set aside the acquisition of 589 hectares in Patwari village.
The real estate developers who have been affected by the Supreme Court verdict on Shahberi village demand Greater Noida Industrial Development Authority to compensate them.
Sale of housing units have virtually come to a halt in Noida Extension following a Supreme Court order quashing land acquisition from farmers by the state authorities in some parts of the area.
Developers who have suffered by the Supreme Court judgment on the Noida Extension land acquisition have organised a press conference on Thursday, July 14, to share their side of the story.
Mahagun has promised full refund to the buyers who booked flats in its project at Noida Extension.
Noida extension seems to be taking its toll. India’s largest home loan provider State Bank of India (SBI) said on Friday, July 8, it will not finance real estate projects which are mired in disputes over acquisition of land.
Hours after the Supreme Court order, several worried investors at Shah Beri village rushed to the offices of developers demanding their money back or a house at an alternative site.
Corporators of the Bruhat Bangalore Mahanagara Palike, cutting across party lines, have accused the Mantri group of encroaching government land.
The Reserve Bank’s decision to raise key policy rates by 25 basis points today is likely to have a negative impact on the real estate sector.
I was recently asked about the role IT has played and will continue to play in the demand for high-end housing in Bangalore.