Uncertainty Over 10,000 Flats

The fate of nearly 10,000 houses in Noida Extension hangs in the balance, after the Allahabad High Court's decision to set aside the acquisition of over 150 hectares of land in Chak Shahberi village by the Greater Noida Industrial Development Authority (GNIDA). Key real estate players have started construction activities. Those who booked flats with Amrapali builders are the worst hit. Under the name of `Smart City', Amrapali has planned 5,700 units on 41 acres of land. Of them, 4,000 have already been sold. Mr Mohit Gupta, marketing director of Amrapali, said, "Meetings are being held with GNIDA officials. Our construction had just begun. We have decided to shift the project to Dream Valley, in tech zone IV sector off the Greater Noida Expressway."Independent villas built across five acres by Mahagun Builders' - the Myra wing - stand on an area whose acquisition has been set aside by the court. Contrary to the promise of industrial development, the GNIDA planned to use the land for multi-storey residences to be developed by builders on relaxed conditions, the court said.

May 14th 2011, Hindustantimes