Greater Noida Authority cancels allotment of 1,200 plots

The Greater Noida Authority cancelled allotments of around 1,200 plots on Tuesday on account of non-payment of pending dues by their owners. 

These include 1,173 residential plots in different sectors of the city. Authority officials informed that allotments of 25 industrial plots and 12 institutional plots have also been cancelled.

Officials informed that the authority has taken the extreme step because it is reeling under a huge financial crisis to the tune of over Rs 6,000 crore to a number of banks and financial institutions. Non-payment of dues for several terms by plot allottees has added to the financial burden of the authority.

The cancellations were effected after the allottees failed to pay up three consecutive pending dues against their respective plots despite repeated notices issued by the Greater Noida Authority. Officials said that more cancellations might be effected in the near future as notices are being issued to several other allottees who have goofed up on making timely payments.

All plots, which had been allotted through different schemes by the authority since the year 2009, have been cancelled. Cancellation letters, said officials, have been issued to all allottees losing their plots.

“The cancelled plots will be put up for fresh allotments through a leftover scheme. The details of the scheme are being worked out following which the plots would be put up for sale,” said Manvendra Singh, DCEO, Greater Noida Authority.

Greater Noida Authority intends to raise revenues through the re-allotment of these plots so that debts and loans incurred by it can be cleared. A portion of the revenue so raised would also be used for paying compensation to farmers in lieu of their land in accordance with the Allahabad high court verdict of October 2011.

However, the authority also informed that it would give the first preference to original allottees of these plots to regain their allotments through a restoration process. Allottees would have to clear their pending dues together with penalties. “They will also be required to pay stiff restoration charges for regaining possession of their plots,” added Singh.

Training Program on Planning & Starting Property Consulting Business

In its objective to enhance professionalism in real estate and create a pool of knowledgeable and professionally competent property consultants, NIREM Institute of Real Estate Management has started offering a training program on ‘Planning & Starting Property Consulting Business’ on 11-12 November, 2013 at Delhi.

Through this training programs, NIREM aims to provide a knowledge platform to all those who want to start their own property consulting business. 

In the two-day program, participants are introduced to various aspects of real estate business including the right approach and method to start a property consulting business with a focus on handling customers in the most professional manner.

Few of the important topics are identifying and understanding the real estate markets, legal issues involved in property sales and transaction, coordination with builders and developers, lead generation and management, online marketing of properties, property sales skills, meeting clients’ expectation, quality in service delivery, consumer rights and protection, consultants’ rights and duties etc.

The course objective is to prepare a pool of professional real estate consultants who have thorough knowledge and competency to provide advice to clients about various aspects of property sales, purchase and investments.

Admission in this course is open to all those who want to start their own property consulting business and is offered on first-come-first-served basis. The program is scheduled on 11-12 November, 2013.

Those interested in joining the program may get in touch with the Admission Officer, NIREM at 011.42484988 or mail to info@nirem.org

New Land Acquisition Law to Kick in From 2014

Come 2014 and a new law will guide all land acquisitions by central or state governments, bringing in stricter norms and increasing landowners’ compensation significantly.

The ministry of rural development plans to notify the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Bill, 2013, commonly referred to as the Land Acquisition Act, with effect from January 1, 2014, little more than two years after it was first introduced in the Parliament. 

“We will notify the Act on January 1,” Jairam Ramesh, the rural development minister, said, adding that the entire process of the new Act coming into force is on the fast track. The ministry has invited comments from the stakeholders over the next 45 days after which these will be published in the official gazette and finalized within 90 days.

The Land Acquisition Act was passed by the Parliament during monsoon session and has already received the assent of the President. The law replaces the Land Acquisition Act of 1894 by establishing new rules for compensation as well as resettlement and rehabilitation. 

The most important feature of the Act is that the developers will need the consent of up to 80% of people whose land is acquired for private projects and of 70% of the landowners in the case of public-private partnership projects.

Besides, it provides for compensation as high as four times than the practice now in rural areas and two times in urban areas. However, industry concerns related to land use have not been addressed in these draft rules because it is a state subject.

“Centre will only come out with suggestive guidelines on issues where it does not have a legislative jurisdiction but these are desirable activity under the Land Acquisition Act,” Ramesh said.

Land acquisitions for factories, roads and housing projects in states like Haryana and Uttar Pradesh have sparked clashes between farmers and state authorities, resulting in huge project delays.

Responding to a proposal from some political leaders on acquisition of only wasteland for industrialization, Ramesh said the ministry has come out with the Wasteland Atlas of India, based on the 2008-09 figures, in association with the Indian Space Research Organization.