GNA demands more money for plots bought 20 years ago

For around 25,000 families the Diwali this year is unlikely to be as joyous as the the Greater Noida Authority (GNA) has asked them to pay an additional amount for the plots purchased by them 20 years ago.

The GNA, in a notification, has asked the buyers to deposit additional amount with interest as per the Allahabad High Court order.

The Allahabad High Court in its October 2011 order asked the GNA to pay 64.7 per cent additional compensation to farmers from whom the land was acquired.

"Following the Allahabad HC's order to pay an additional 64.7 per cent compensation to farmers, the authority will charge more money from people at Rs 1,287 per square metre (sqm). People will also have to pay an 11 per cent interest on the amount from May 11. Hence, one will have to pay an additional Rs 4,29,766 for a 200 sqm plot," the GNA said in a statement.

According to the statement, the additional amount could be paid in four instalments at an interval of three months. Thus, a 200 sqm plot buyer will have to pay Rs 1,27,258 as first instalment on October 31. The amount includes interest.

To pay the additional compensation to farmers, the GNA had to borrow Rs 4,500 crore from banks and now it's demanding additional payout from the plot buyers.IANS