by Mr. Santhosh Kumar,
CEO – Operations & International Director,
JLL India
The Supreme Court’s decision to overturn the Allahabad High Court’s order of scrapping the land acquisitions in Noida extension will come as a big respite for al house owners & the builders operational in the region.
The farmers, residents & developers have been at loggerheads with each other over this issue for the past few months.
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| Mr. Santhosh Kumar, JLL India |
The decision effectively means that the 32 housing societies in that region will not have to compensate the land losers (farmers) by paying approximately Rs. 2,000 per square feet, which was earlier imposed on these societies by the Greater Noida Authority.
Also, the Greater Noida Authority will not have to give 10% of the developed land to land owners.
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