Day after nod, Noida Extn developers hit the road

Within hours of the news that the National Capital Region Planning Board (NCRPB) had cleared the Greater Noida Master Plan 2021, the preparations began.

Through the night, the 25 builders who had been stopped from advertising plots erected stalls, printed pamphlets and lined up their salesmen to start all over again.

Early Saturday morning, the roads along Noida Extension came alive. It was a sight not seen in the last 10 months after the Allahabad High Court stopped construction – salesmen flagged down cars, invited people to tents, and tried to sell them dream homes.

Representatives of Amrapali group said they had instructed their personnel to bring in as many customers as they could.

"Now that the NCRPB clearance has come, construction will start soon. It is important to get the business model back on track. Over the past 10 months, we got very few inquiries. Only through bookings can we recover our losses. Every other builder is doing the same thing. This creates an atmosphere of vibrancy which will boost investor confidence," one of the representatives said.

Rajinder Singh, a businessman from Delhi, was one of those who came to the area to look for a flat. "I thought I should come early and book. I heard reports that prices will go up. The houses here are still cheaper than in Delhi."

Officials of Supertech group agreed that there was a possibility that real estate rates would see a surge. "We have consistently said that to cover the losses we incurred in the 10-month period, we have to raise prices. However, the increase will be kept as low as possible. Meetings will be planned in the near future, and we will protect existing buyers."

Builders, however, will have to wait until next week before they can actually start construction activities again.

... contd.

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