Budget Flats for Sale in Allahabad

Following an order of the Allahabad High Court, the Noida Authority has said it would not issue occupancy certificate to real estate company Omaxe for its project Grand Omaxe in Noida till the builder pays dues to the tune of Rs 250 crore. About 300 residents are already occupying flats in this project since 2012 without the units being registered.

In a recent hearing on May 16, the Supreme Court has stayed the liquidation proceedings against the Jaypee Infratech and has asked the builder to deposit Rs 1,000 crore by June 15 to refund homebuyers. Now, the matter has been listed for hearing on July 4.

The Noida Authority has started the process to acquire 54 hectare of land in two villages that are to be handed over to applicants to be developed as farmhouses. On March 21, Noida Authority chief executive officer along with senior officials of the district administration met the protesting farmers who have been agitating since March 1 after it became public that the Noida Authority was going to revive its attempts to acquire land to resolve the compensation issue.

In Noida, the period between 2011 and 2012 was declared a zero-interest period. During the zero-interest period, when construction was hit because of farmer protests, builders were not required to pay interest on land dues. After great deliberation and study, the move was launched. Now, authorities suspect developers of misusing the benefit offered to them.

The Noida Authority launched a multilevel car-parking (MLCP) facility in January to resolve the parking problems of the Sector 18 market. However, a hike in parking fee and issues such as flawed footpath design and lack of road infrastructure have played the spoilsport for the facility. So far, there are no as many takers for the parking space as the Noida Authority had expected.