Plot Owners In Greater Noida Asked To Pay More To Compensate Farmers

In a move that has come as a rude shock for as many as 25,000 plot owners in Greater Noida, spanning 50 sectors, the development authority has slapped a demand notice, for an additional levy of Rs 1,287 per sq metre along with 11 per cent interest. The Greater Noida Industrial Development Authority's (GNIDA's) decision comes after the Allahabad High Court directed it to pay 64.7 per cent additional compensation to farmers, whose land was acquired.  

In an order dated September 28, the GNIDA said the additional charge of Rs 1,287 per sq metre would have to be paid by all plot owners, irrespective of when they bought the plot. This charge will be levied from May 1, 2013 and will attract an 11 per cent simple interest. Plot owners will have to pay the due amount in four equal installments. Non-payment of the charge will attract an additional three per cent penalty. According to the GNIDA order, the first instalment is due to be deposited by October 31, 2019.

Some residents welfare associations have decided to challenge the order in court.

With inputs from Housing.com News