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This is an archive article published on July 11, 2011

Scared buyers flock to Noida Extension

The investors in various residential projects in Noida Extension continued to make a beeline to the offices of real estate companies on Sunday.

The investors in various residential projects in Noida Extension continued to make a beeline to the offices of real estate companies on Sunday. After the Supreme Court upheld an Allahabad High Court order quashing state acquisition of land in Shahberi village,buyers have been trying to ascertain the status of the projects they have invested in.

Paan Singh,one of the investors at Supertech’s Eco Village-II,said many worried investors turned up at its site office.

“There were many of us. We started gathering since 9 am and were there till 11 am. The builder has convinced us that our investments are unharmed,” he said.

Prashant,who has also invested in Eco Village-II,said the manager at the site assured them that they will be given the option of shifting to a different tower or project of the company,if required. “They have shown us the map and said that our money is safe,” he said.

Many investors returned home after being assured that their investments were safe. There were others who thought that the builder was keeping them in the dark. Amit Sharma,an investor,said,“The builder failed to convince us that there will be no hidden clause while returning our money.”

Meanwhile,farmers seem to be trying to devise a strategy against the Greater Noida Authority. “We have agreed that we will go to court against the Authority. Even those who have taken compensation will approach the court. We will soon declare war against Authority officials. We will rally on motorcycles,take out a silent protest march and demand action against senior authority officials,” said Manveer Bhati of Bisrakh village.

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