Buyers, farmers in fix after GNIDA scrap Unitech’s land acquisition

In a major jolt to hundreds of investors cum flat-buyers, the Greater Noida Authority on Friday scrapped land acquisition of MU-II Sector. 

The authority informed that after failing to receive a whopping Rs 1,054 crore due amount from Unitech builders, the acquisition of 100-acre land has been quashed with immediate effect. With this decision, dreams of as many as 354 home buyers, who have invested their hard-earned money, shattered as fate of their flats is now stuck in limbo.

According to the authority officials, Unitech, a real estate developer company was allocated the huge chunk of land in 2006 following which the realtor approached buyers to book flats. 

“Though the builder started booking after allotment but within nine years, the developer hasn’t been able to pay the remaining amount to the authority even after repeated reminders.”

Reacting over the issue, buyers said that they were being deceived by Unitech and the local authorities. The builder had assured to give possession in 2010 but uncertainty is looming now. 

Now, everyone is feeling deceived by Unitech as Rs 30-40 lakh has already been paid by the majority of buyers. The farmers’ bodies claimed that due to complicity between authorities and builders, the buyers and farmers have been suffering. 

“Buyers had already paid over 60 per cent money before this new problem reared its head. The quashing of project does not only affect buyers but also affects farmers who had sold their piece of land. 

“Now, after the structures have been erected, these lands cannot be used for agriculture,” said Dushyant Naagar, a farmers’ rights activists from Greater Noida.