Property Prices Set to Soar in Twin Cities

The lands in Noida and Greater Noida will make houses costlier in both cities. Out of 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 land is ever increasing; land prices are bound to go up considerably. Apart from 10,000 odd farmers who are seeking developed land plots, about 4500 farmers in 11 villages of Noida, whose land was acquired before 1997 have also launched an agitation.

The authority says in order to meet the demand the option of raising floor area ratio that allows construction of bulkier buildings. But this alone can’t solve the crisis. The land rates have to go up.

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 of out-of-court settlement is on. If the farmers are paid more, land prices automatically will go up. If there is no out-of-court settlement, land has to be reacquired under the state’s new acquisition policy, which leaves less saleable land with the authority.

Talks Fails, GNIDA CEO faces ‘Hostile’ Crowd.

Greater Noida: 11 days left for the state government to work out an out of court settlement with Noida Extension farmers, the GNIDA has rushed talks but without success. The discussion between authority and the farmers of Patwari village failed on the issue of compensation, because back to back court orders quashing forcible land acquisition. The fate of 1 lakh houses in Noida Extension hangs in the balance.

The CEO of GNIDA Rama Raman, faced a hostile crowd of farmers, who said if the authority could not hike the compensation then there is no point of holding this discussion. They also accused the authority of trying dividing farmers by giving rehabilitations and other benefits to selected farmers, to weaken the movement against land acquisition.

Farmer leader said the authority is trying to play divide and rule policy by keeping land of some influential farmers. He told CEO, no out of court settlement could be reached out without hiking the compensation. The CEO said 4 bighas of land belonging to the village head would be regularized and not termed as encroachment.

The discussion between the authority and the Patwari village’s farmers failed on the issue of compensation. The authority wants to acquire the land and pay according to new acquisition and rehabilitation policy which allows the authority to give farmers bigger developed land plots, Rs 200 more per sqm as cash compensation, besides annuity payouts.

Farmers should be Given Right to Sell 100% of their Land – BJP

The BJP has said that the draft Land Acquisition and Resettlement and Rehabilitation Bill 2011, which is now in public domain, is good but cannot be accepted in its existing format.

Sangh Priya Gautam, the former Union minister said, farmer should be given the right to sell 100% of their land. In Greater Noida, the Formula 1 racetrack required only 1000 acres of land but 2500 acres were acquired and allotted to a private builder by the government.

Land should be taken on lease from farmers. The ownership should remain with farmers, said a BJP leader. Another major aspect of the centre’s draft is that the urgency clause can be imposed only at the time of natural calamity or can be imposed in case of national security.

Gurgaon Farmers Plan to Move Court for Trust Land.

Gurgaon: Farmers of Ullawas village decided to move to High court of Punjab and Haryana to reclaim land leased for 33 years to the Rajiv Gandhi Charitable trust in 2009. The land was leased for setting up a charitable eye hospital on 5 acres of Panchayat land. They have also decided to move court to reclaim an acre of land leased to another social organization, the Church Gate Medical Society, for setting up a dental facility.

We will also file a petition against government officials who were instrumental in pressuring the panchayat head and members to pass the resolution and sign lease deeds in favor of these societies. The deputy commissioner on the direction of Harayana Government threatened to dissolve the panchayat and dismissed sarpanch, forcing them to pass the resolution and sign the leads.

However, Prakash the Sarpanch, refused the allegations of pressure on the Panchayat by the deputy commissioner. A bunch of politically ambitious farmers are trying to flare up the issue to gain political mileage.

Real Estate Suffers due to Regional Laws

3D Realty Handshake
In past few years, the realty sector has shown tremendous growth but according to experts, it may still remain a regional play in the country. The underlying reason is that different regions have different laws.

JLLM,Jones Lang LaSalle Meghraj, a property consultant firm’s  Country Head and Managing Director Anuj Puri said that developers experience difficulties in having a pan-Indian presence due to the different procedure and different laws in every state for acquiring land, property taxation and approvals for projects.

Since there is a need of understanding local dynamics for developing realty projects, many developers take property sector as a regional business.

The problem for developers of having a pan-India presence cannot be helped until there is in land acquisition process and regulatory approvals are the belief of many consultants and developers.