Mega Project of 500 Acres of M-Tech Developers, in Gomti Nagar Extn. area. Plots available on original booking at Rs 4375/- per sqyds. Plots on resale (original Booking of Rs 3100/-) are available on resale. Brokers are asking premium of Rs 400 to Rs 500/- per sqyds & Rs 600/- over plot size of 200 sqyds.
Is it really advisable to pick these options at such high premium. What credentials M-Tech Developers are producing in support of their project ? The company has so far not displayed any documents to prove that they have acquired land or sought approvals to bring Township in Lucknow.
Official Website of U.P Goverment is absolutely silent on details of Mega Projects. We have not been able to understand why U.P Government has no dedicated information bank as provided by Punjab Goverment. (http://puda.nic.in/mega-projects.htm)
Artificial Inflation created by New & Upcoming Developers can be dangerous too ? What will happen to premium amount paid by Investors if project does not take off ?
Why Developers & Governments are not working in the interest of Common Man ?
As per our recommendations premium amont shall never exceed 50% of Reservation amount. If it is happening somewhere, Developer is artificially supporting it.
Nexus between U.P Govt. & Developers shall always be seen with suspicion & checked ?
Monday, January 29, 2007
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