Prices to be ‘Controlled’: Noida Extension homes to stay within budget, promise builders:
The full judge bench of the Allahabad High Court set up to hear the land acquisition cases in Noida, Greater Noida and Noida Extension in Gautam Buddh Nagar district is hearing the cases daily and though both developers and buyers hope that the case will be resolved soon, those who bought apartments in the area are worried about their home loans, currently put on hold by the banks and valid only for six months.
Sumit Saxena, who bought an apartment in Noida Extension, is eagerly waiting for the high court’s decision. His loan was approved in May but was put on hold by the bank when the issue came up. “I am worried that since the loan is valid only for six months, I may have to apply for a fresh one if the issue is not resolved soon,” he says.
According to Anil Kumar Sharma, CMD, Amrapali Group, “we are waiting for the court’s decision. We will not be passing any extra cost to existing buyers. In case costs are increased, they would not be more than 20%. But these would be levied only on new buyers. Even if costs were to go up in the future due to the land acquisition issue, these will still be in the affordable range.”
Source : HT for information.
