[Web-share] Business Line : Features / Investment World : Land row aftershocks hit Noida Extension in Delhi NCR

Business Line, a part of 'The Hindu' publication, rightly mentions the status of the Noida Extension area as-- "Once a bustling hub for property business, the road to Noida Extension now wears a deserted look."

The Allahabad High Court struck down acquisition of over 150 hectares of land in Chak-Sahberi village at Greater Noida (dubbed Noida Extension by builders). For the large cluster of housing projects in this area, there seems to be no end to the uncertainty looming over the fate of these projects. If anything, worry lines have deepened with each passing day.

Builders are attempting to put up a brave face to the crisis – some claim the worst is over and that market is getting back on its feet. Others shrug off downcast sentiments as a temporary blip. But brokers and property agents have a different story to tell. A site visit reveals just how unnerved the market is.

Land acquisition problems have created panic among buyers of properties under development in the Greater Noida region.

Noida Extension reportedly has projects by 50-55 developers planning an overall 10,000 units, but there is no official word on how many proposed units could be affected.

Photo & full article directlink: Business Line : Features / Investment World : Land row aftershocks hit Noida
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