Real estate news on SC order hits HUDA project, investors

Builders/ Developers, Investors/ Investment proposal, Land/plots, Chandigarh
Posted on May 11, 2012
pinjore-kalka urban complex DLF stalls the ongoing construction at the site, Ireo stops demarcation of land.

The fate of hundreds of people who have invested their hard-earned money in the Pinjore-Kalka Urban Complex hang in the balance, as the real-estate giants developing the area have stopped their construction for the time being. This follows the Supreme Courts recent order which told the Haryana government that the entire land acquisition carried out in the area for developing the complex deserved to be quashed.

Pointing out serious irregularities in the implementation of the Pinjore-Kalka Urban Complex project of the Haryana Urban Development Authority (HUDA), the Supreme Court had ruled on April 29 that it was “prima facie of the view that the entire (land) acquisition proceeding deserves to be quashed”.

“We direct the state of Haryana and its functionaries and also the impleaded respondents not to undertake further constructions on the land which was acquired vide notification dated September 26, 2007, read with the declaration dated September 25, 2008. This would mean that all the ongoing construction activities shall be stopped forthwith,” the apex court order had said.

The state government had issued the 2007 notification for acquiring 809.74 acres of land, where the complex is coming up. Out of the total land, over 450 acres of land is being developed by two major real-estate giants DLF and Ireo. While DLF has stalled its ongoing construction activities at the site, Ireo has stopped its demarcation of the land. According to sources, both the developers have already sold out the dwelling units on the land even before the construction is yet to be completed.

The construction is expected to remain stalled till the Supreme Court takes a further call on the issue. On April 29, a division bench of Justices G S Singhvi and S J Mukhopadhaya had noted that the bench would like to hear the views of all those, in whose favour the land was released by HUDA.

Under the HUDA project, as many as 31 new sectors are to be developed covering residential, commercial and industrial areas, on both sides of National Highway 22 between Pinjore and Kalka.

A spokesperson of the DLF told The Indian Express, “For the time being we have stopped the construction, but we would like to clarify one thing that the investors who have shown faith in DLF are absolutely secure. We had purchased the land directly from the farmers by giving them a fairly high compensation at that time, which was at least four times more than what HUDA was offering to the farmers at that time. The land was taken by us much before the acquisition was done in 2007. We had already applied for the licence, which was pending at the time, when the acquisition was done by the government. DLF has nowhere in the country neglected the interest of the land owners, whose land has been taken by us. In this case too, the farmers who sold their land to us are extremely happy and satisfied with the compensation. We respect the Supreme Courts order and shall present our point of view when required. Till that time, we have stalled the ongoing construction at the site.”

Similarly, Ireos representative told The Indian Express that as of date the construction process on the site had been stalled in the light of the Supreme Courts orders. Further course of action would be decided after the Supreme Court passed its verdict in the matter.

“There is no illegality involved in the project or award of the land to developers. The state government is as such contesting the case and we respect the courts orders. The developers, on their own, have stalled the constructions and we will wait for the courts verdict to decide further course of action. Since the matter is sub judice, I shall not like to comment anything on the issue,” said a senior official of HUDA.

COMPLEX FEATURES

A total of 31 sectors are to be developed, in which six sectors will come up in the first phase. While three of these six sectors will be located near Pinjore town, the rest will be close to the Himshikha Colony. Over 25,000 plots of various sizes are open to people. The plan, which includes commercial, institutional and industrial estates, has already been approved by the state government.

DLF project highlights

DLF Valley, Panchkula, is spread across 200 acres — out of which 36 acres are being developed in the first phase — situated on NH-22 Chandigarh-Shimla Highway. The project is located in Sector 3, Panchkula (Kalka Urban Complex of HUDA sectors). It will be a part of well-developed and much sought-after locality on the foothills of Shivalik Hills.

The DLF Valley will have a clubhouse, commercial/shopping centre, high school, primary schools, nursery schools and a dispensary.

All independent floors and group housing units are designed with minimum common areas and maximum space utility. Independent floors will have lawns, independent parking for all floors, terrace right up to first and second floors, and power back-up for all the development works.

Independent floors on 270 sq yd/230 sq mtr.

Independent floors on 500 sq yd/420 sq mtr.

Ireo highlights

The Ireo township is located adjacent to NH-22, spread over an area of 180 acres, and lies between NH-22 and DLF Valley integrated township. Plots available in sizes of 250, 370, 500 and 1,000 square yards. Besides, mid-rise apartments are available in 2bhk/3bhk and 4bhk; and villas available in 250, 370, 500, 1,000 square yards.

Source : http://www.indianrealtynews.com/other-city/sc-order-hits-huda-project-investors. html?utm_source=feedburner&utm_medium=email&utm_campaign= Feed%3A+Indian-Realty-News+%28Indian+Realty+News%29
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