Builders’ plainspeak: Get set to pay more

R K Arora,Chairman and Managing Director of Supertech group,which has 20 projects in Noida,Noida Extension and Greater Noida said that there would be no price hike for those buyers,who have already booked their flats with the company. But,it may not be the same for those looking to buy new flats in the NCR region.

“We have decided that no existing buyer will have to incur the burden. But since the money will have to be raised through some source,prices for prospective buyers will definitely rise. They might rise by 30 to 40 percent,” Arora said.

Other companies,which have projects in the region,also were of the view that prices would inevitably rise.

Gitambar Anand,CMD of ATS Builders said,“It would not be fair on existing buyers if we ask them to suddenly pay more. But prices in the future will have to rise. We have not decided now by how much though,” he said.

Builders,however,believe that the verdict signals the end of the standoff between farmers,the administration and construction companies.

Anand said,“Four parties were involved in the conflict,the flat buyers,the developer,the Authority and the farmers. The decision benefits all four groups. Flat buyers have been reassured about their investment and same is the case with the developers. The Noida Authorities,once the added compensation is paid and developed plots given,will have the chance to finally see the end of the conflict. The farmers too will get their due with a significant increase in what they will receive from the administration.”

By and large,both builders and flat buyers have hailed the judgment,calling it “intelligent and balanced.”