GHAZIABAD: It is finally a light at the end of the tunnel for nearly 3,000 allottees who have waited patiently over a decade for their plots in Wave City project along NH9.
The GDA Board, likely to meet on Aug 5, is set to approve Wave City’s detailed project report for 4,000 acres of land after it was rejected several times since 2021 over an unpaid Rs 401 crore land conversion cost.
Once approved, the realtor, Utpal Chadha Hi-Tech Developers Pvt Ltd, may take another six months to develop the land and hand it over to the allottees. It will also pave the way for another 5,000 allottees, who have got possession of their plots, to register their properties.
Prabhakar Mishra, an allottee who is waiting to get his plot registered, told TOI that he invested in the scheme in 2009 soon after it was rolled out. “Imagine investing your hard-earned money in a dream house but not being able to build it. Our plots have been stuck for 15 years because the property could not be registered. It has taken the govt more than a decade to take note of our problems. We are hoping that the GDA will not delay the project further and give its nod to the layout to make way for the registration of hundreds of allottees in the township,” said.
The Wave Group launched the township project — with tech-integrated homes and sprawling green spaces — under the state’s hi-tech township policy in 2009-10. The developer was to develop 4,312 acres of land over a period for the project but failed to acquire the land following farmer protests.
“A portion of the land that we were to acquire came under ‘Lal Dora’ expansion areas. So, we failed to get hold of the entire land earmarked for the scheme. Subsequently, the project size was downsized to 4,196 acres for which we submitted a revised DPR to GDA for approval,” a spokesperson from Wave Group said.
Historically, Lal Dora delineations were established during British rule in 1908, marking areas outside formal settlements for agricultural purposes. These lands have been exempted from regular building bylaws and municipal regulations, but their owners often faced challenges in proving ownership, hindering property transactions and access to financial services.
Out of 4196 acres, the developer claims to have already developed 50% of the land and handed over plots to nearly 5,000 families. “The remaining part that is yet to be developed, for which we have submitted several DPRs but are yet to get approval, has been stuck following some objection flagged by the CAG. It affected close to 3,000 allottees who had invested in the project,” said the spokesperson.
The project was stalled since 2017 after a CAG audit flagged non-recovery of nearly Rs 401 crore in land conversion charges from the developer.
Things started to change in 2023, after a high-powered committee, headed by the chief secretary, was set up to look into the project. In Feb this year, the committee observed the “interest of homebuyers is paramount” and directed the GDA to approve the revised DPR of the project. Wave Group will, however, have to mortgage land and other property worth around Rs 400 crore with the GDA for the DPR to be approved.
“GDA board, which is meeting on Aug 5, will clear the DPR of the Wave City project, after which nearly 5,000 allottees could get their plots registered and another 3,000 are expected to get possession,” said an official from GDA.
Source Homevior.in
