The long awaited verdict on the status of various projects of Greater Noida is defferred. Thousands of people invested their hard-earned money were waiting for the verdict. The court has to pronounce the verdict on all the petitions as they have clubbed together. Earlier, it was expected that the Allahabad High Court would pronounce the verdict on the acquisition of land of two villages of Greater Noida by the Noida authority.
As and when Court would pronounce the verdict,it would have bearing on the future of 11 huge residential projects of Greater Nopida. According to one estimate,more than 20 thousand people have invested their hard-earned money in these projects in order to have their own roof.
It may be recalled that on Tuesday, Allahabad High Court quashed the acquisition of two villages-Patwari and Dewla. The 589 acre land of both these villages was acquired by the state government. The latest verdict of the court will put question mark on the residential projects of Realtors like Amrapali, Ajnara, Panchsheel, Supertech and others. Earlier, the court quashed acquisition of Shebheri village.
The villagers welcomed the verdict with great joy, while all those who have booked flats in various projects are feeling cheated. The work on all the residential projects were going on in a very fast pace. Some builders have even constructed four-five floors. The Villagers argue that while the government agencies purchased their land at very dismal rates and later sold to private builders at very high rates.
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