In a significant drawback to real estate tasks being designed in Noida, the Allahabad high court on Wed approved a verdict magnificent remain on 802 miles of area providing comfort to farm owners.
The court also damaged down on the area management for not submission with the previously purchase of categorizing authorized and unpublished area in the area. Projects in the places between Areas 74 and 79 and Areas 112 and 119 in Noida are likely to be affected by the verdict. A large number of real estate models are being designed by at least some designers in the area.
The court also requested the management not to let anyone to change the characteristics of the area and also instructed it not to intervene in the relaxing ownership of area by farm owners. The court approved the transaction while listening to a lot of applications authorized by villagers of Noida who stated that their places were incorrectly owned and operated by the management in 1982. The court requested the area justice of the peace to appear before it on the next time frame of listening to. But there are still a few projects which have high return on investment because of its sheer presence in market and the customer satisfaction it has generated in years, one of it is Logix Blossom Greens Noida.
Speaking to a news agency, S D Kautilya, advice for the petitioners said, “The court has controlled the management from continuing in the situation. The next time frame, however, is yet to be set and until that time the court has put a remain on 802 miles of area in Noida.”
Explaining the qualifications of the situation, Kautilya said, “The situation represents a area deal in which the management had by error obtained the area of farm owners who had not marketed it. Though the HC had, on Oct 21, last year instructed the then area justice of the peace to look into the problems of the farm owners and fix it within 15 days, the issue could not be settled.”
The town headman of Sorkha, Naresh Yadav, said that the management had later authorized a incorrect affidavit that the farm owners had not resulted in for listening to on the set time frame. The court then quashed the applications after which the farm owners contacted the court with clean ones looking for position quo on the said area. Still there are a number of projects placing Noida in the property chart buster to name a few there are a couple of projects from Logix Group namely Blossom County Noida and Logix Blossom Greens.
“The Power has marketed area to contractors at Rs 12,000 per sqm, but they have only compensated 10% as first part of instalments. If the Power wants to negotiate our requirements, it can come back the hit amount to the contractors and assign the plots of land to Noida farm owners,” Yadav said.
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Logix Blossom Noida
Logix Blossom Greens Sector 143
Blossom Greens Greens Noida Sector 143