Over 20K customers affected by Allahabad HC order: CREDAI

The Allahabad High Court order has impacted 11 projects in Greater Noida,CREDAI said.

Apex body of real estate players CREDAI on Tuesday said it will challenge the Allahabad High Court order to quash acquisition of nearly 600 hectares of land in Greater Noida,a step that will affect over 20,000 buyers.

The Allahabad High Court order has impacted 11 projects in Greater Noida,CREDAI said.

“Along with buyers,we will go to the court against this order,” Confederation of Real Estate Developers Association of India (CREDAI) Vice-President Geetambar Anand told reporters here.

The realtors’ body said developers have become “victims” following quashing of land acquisitions by courts,asking government to buy land from farmers in a transparent manner.

“Over 20,000 buyers have been affected as per our initial estimation. From the developers’ side,11 projects have been affected by the court’s order,” CREDAI Vice-President,NCR,Anil Sharma told reporters here.

Most of the projects have been partially affected and developers include Amrapali,Supertech,Panchsheel,Arihant and Nirala,Sharma,who is also the Chairman of the Amrapali Developers,said.

“It is a huge area. Apart from houses,there are many schools,colleges,medical facilities and roads that have all been affected,” he added.

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CREDAI members met Greater Noida Industrial Development Authority (GNIDA) officials today to sort out the issue and discussed ways to protect interests of both buyers and developers,Sharma said.

“Along with builders,it’s also the responsibility of the authority and the government to protect the interests of home buyers,” he added.

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