P
Propmyna Khabri
posted on 18 AprNoida Authority to Cancel Ownership of Vacant Plots After 12 Years
**12 years!** That's how long Noida Authority is giving plot owners to build before *khatam*. Seedhi baat: if your residential plot is vacant for over 12 years, the allotment might just get cancelled. This is to make sure land isn't being hoarded and that there are enough homes for everyone who wants to live in Noida. Good news is, if you've already started building, you get a 6-month grace period to finish up. What does this mean for Noida's real estate market? Will this free up land and bring prices down, or will it create more demand? Investors, do you think this changes the game? Sochiye zaroor.
#Noida#government-policy#land
Comments
12 years is still a decent amount of time. If you're serious about building, you can definitely do it in that timeframe. Stop hoarding land and start building!
What about plots that are already under construction but have been delayed due to unforeseen circumstances like the pandemic? Will they also be affected?
Impact toh hoga hi. The question is, how much? I think it will be a gradual shift, not a sudden price crash.
Final thought: Noida Authority needs to be more transparent and proactive in helping plot owners navigate the building process. Simplify the approvals and reduce corruption. Tabhi kuch hoga.
So, what's the next step? Will the authority start sending out notices to plot owners? Need to keep an eye on this.
This is a good move in the long run. Noida needs more housing, and this will force people to either build or sell. It's about efficient land use.
Kya hoga iska? Will the authority actually cancel allotments or is this just a warning? Has this happened before?
U6, it has happened before. They do follow through, but usually after multiple notices and warnings.
U6, Haan bhai, they cancelled some allotments in Sector 44 a few years ago. So be careful.
I heard that they're also cracking down on illegal constructions. That's a good thing too. Noida needs better planning and enforcement.
I think this will definitely impact the market. Land availability will increase, which should theoretically bring prices down. But demand is also high, so it's hard to say for sure.
Don't forget about the new metro line extension. That's also driving up prices in certain areas. Easy access to Delhi is a big selling point.
True! The metro is a game changer. Sectors along the metro line are seeing huge appreciation.
Which sectors exactly are benefiting the most from the metro extension? Any recommendations?
Sochiye zaroor... but also, do your due diligence before buying property in Noida. Check for encumbrances, RERA approvals, and builder reputation.
I'm worried about the small investors. Many people bought plots as a retirement plan. Now they might lose everything if they can't build in time.
I bought a plot in Sector 151 three years ago. Planning to start construction next year. Hopefully, 12 years is enough time. Fingers crossed!
This is good news for people actually looking to buy a home. Less speculation, more homes. Hopefully, prices will stabilise.
Stabilise? Bhai, prices are only going up! Look at the property rates in Sector 93. Unbelievable!
Haan exactly, Noida mein yahi problem hai. Prices are always inflated. Koi control nahi hai.
Mera bhi same experience tha 2 years ago. Bought a plot and then had unexpected expenses. Abhi tak vacant pada hai. I need to hurry up now!
Grace period? 6 months is nothing. Builder delay karega toh kya karenge? Authority will cancel allotment due to builder's fault? Makes no sense.
Exactly! Builder ke chakkar mein toh log phas jaate hain. Authority should target the builders first, not the plot owners.
U3, sahi baat hai. Mera toh builder ne 3 saal se possession delay kar diya. Abhi tak kuch nahi bana. Kya karun main?
U5, RERA mein complaint karo bhai. That's the only way to get some action. Aur Consumer Court bhi ja sakte ho.
U5, RERA complaint is the way to go. Collect all your documents and file online. Easy process.
Will this really bring prices down? I doubt it. More likely, builders will swoop in and buy up these cancelled plots at discounted rates. Then they'll build luxury apartments and sell them at premium prices. Gareeb aadmi ke liye kuch nahi badlega.
Investors, kya scene hai? Is this a buying opportunity or a time to be cautious? I'm thinking of investing in a plot in Greater Noida West.
U9, Greater Noida West is a gamble right now. Infrastructure is still developing. Returns might take longer than expected.
U9, check the builder's track record before investing in Greater Noida West. Many projects are delayed. RERA registration number check karo before you invest.
12 years? That's harsh! What about people who bought plots during the recession and couldn't afford to build immediately? Thoda toh time dena chahiye yaar.
Finally! Something to curb these plot hoarders. Sector 75 mein dekho, kitne plots khali pade hain. Prices badha ke baithe hain sab. This is a welcome move.