An under construction building in Sector 107, Noida.
In what came as a relief to real estate developers and homebuyers related to the ongoing land dispute in Sector 107, Noida, the Supreme Court has declared that there is no need for the review petition that was filed by Noida Authority against the cancellation of the land acquisition notice to Maharishi Ashram. The Supreme Court issued the order over a double bench judgment by the High Court.
A land dispute between Noida Authority and Maharshi Ashram at Sector 107 has been on for some time now. Noida Authority had acquired Maharishi Ashram’s land citing the urgency clause in the Land Acquisition Act, 1894. The ashram had then approached the High Court against acquisition of their land. Consequently, builders had to stop work on ongoing projects on the land. The issue had been subjudice for quite some time.
Praveer Kumar, chairman of Noida Authority, said that he would take necessary steps only after properly studying the references of the hearings at the Supreme Court. He also said that there were four ongoing residential projects in Sector 107. These were Amrapali Heartbeat City, 3C Lotus 300, Great Value Sharanam and Sunworld Vanalika. These projects have more than 5,000 residential flats in all.
"The dispute at Sector 107 is over and Maharshi Ashram has filed an affidavit for an agreement that it is ready to accept 10 per cent developed land and an additional 64.7 per cent as compensation, to which the Authority has also expressed willingness," added Kumar.
Farmers, too, have agreed to take 10 per cent residential land and an additional 64 per cent as compensation.
Homebuyers of Sector 107 are happy with the removal of the stay order on construction, which was in place for more than two years now. Puneet Parashar, president of the Sector 107 buyer's association, told City Spidey, “We are going to distribute sweets on August 6 to celebrate the order."
