If CREDAI, the apex body of realtors in the country is to be believed, then the otherwise hapless Noida Extension could very well spring back to life within the next six months. Real estate companies are working day and night and have promised to deliver approximately 50000 plus homes in Noida Extension within the coming six months. If this materializes then it will bring huge and well deserved sigh of relief to thousands of families who have waited for years to get possession of their dream homes. People rightly have their fingers crossed for the same.
Located off the Greater Noida Expressway, merely 8KMs away from the ever busy Noida City Centre metro station, a plethora of residential societies have been constantly stuck at various different stages of development and construction. All these societies cumulatively sport 3 Lakh plus apartments but not even a single one of them could be handed over to their rightful owners because of the long pending legal issues. Possession of their dream homes has sadly evaded all these families. But this long standing legal bottleneck has been done away with when the Supreme Court upheld the acquisition of land by the realty developers from the farmers.
CREDAI has now got into action and very recently stated that post the SC verdict, the speed at which these projects are delivered will very soon gather pace. CREDAI has put together a database, in which it has sought feedback from a major chunk of developers operating in the Greater Noida West region and the consensus is such that close to a whopping 50000 apartments will be handed over to buyers within the coming months. While rest of the homes whose possession has not been given, will also be very soon handed over from sometime next year, when the momentum is expected to gather quick pace.
Therefore atleast over one Lakh individuals are expected to move into Noida Extension in the early phase of the New Year. Thus the infrastructure in the area is expected to fall in place pretty soon while the growth/development will become visible to one and all pretty soon. The basic physical and social infrastructure is taking shape beautifully in the region. The all important GNIDA has already laid out power cable and provisions for uninterrupted supply of water are already in place. A cutting edge school has already been developed while land has been allotted for a hospital as well.
GNIDA has also put the process of installing streetlights on fast track, along with a much needed plantation drive in order to keep the pollution levels at Noida Extension in check. Thus a major chunk of it is great news for the buyers. The one and only point of concern is the fact that the extra charges which one might have to shell out as the implication of the additional compensation which has to be paid to the farmers. CREDAI is also making sure that because of the pressure of delivering projects in a timely fashion; no compromise whatsoever is made as far as the quality of materials used and construction is concerned.
So here’s hoping for a timely delivery of all the homes in Noida Extension, as soon as possible.