EMIs trouble Noida Extn home buyers

2011-07-27 16:44:35

The house has come crashing down on 26,000 flat buyers in Noida Extension. Not only is there now little prospect of their being relocated to another house in the area, they will also have to keep paying EMIs on post-dated cheques or risk being branded as defaulters.

The builders had offered to relocate the initial 6,000 affected buyers when the Supreme Court upheld an Allahabad high court order cancelling the land acquisition in Sahberi village.

Tuesdays order by the high court has shut the door on the option of shifting to another project. Over 15,000 more buyers in the other villages of Noida Extension are living on tenterhooks with an
impending sense of doom. Their fate is likely to be sealed by the time the week comes to an end.

I can do precious little in the present circumstances except wait and watch. I will wait till the first week of August and then ask for a refund. If the entire Noida Extension area gets denotified, I will not have the option of relocating, said Jitendra Sindhi, a distressed buyer whose under-construction flat in the Neo Town project is located in the Patwari area.

Real Estate Noida
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