GHAZIABAD: It’s lastly a lightweight on the finish of the tunnel for almost 3,000 allottees who’ve waited patiently over a decade for his or her plots in Wave City challenge alongside NH9.

The GDA Board, more likely to meet on Aug 5, is ready to approve Wave Metropolis’s detailed challenge report for 4,000 acres of land after it was rejected a number of instances since 2021 over an unpaid Rs 401 crore land conversion price.

As soon as authorised, the realtor, Utpal Chadha Hi-Tech Developers Pvt Ltd, could take one other six months to develop the land and hand it over to the allottees. It’s going to additionally pave the best way for an additional 5,000 allottees, who have gotten possession of their plots, to register their properties.

Prabhakar Mishra, an allottee who’s ready to get his plot registered, advised TOI that he invested within the scheme in 2009 quickly after it was rolled out. “Think about investing your hard-earned cash in a dream home however not with the ability to construct it. Our plots have been caught for 15 years as a result of the property couldn’t be registered. It has taken the govt. greater than a decade to be aware of our issues. We hope that the GDA is not going to delay the challenge additional and provides its nod to the structure to make manner for the registration of tons of of allottees within the township,” mentioned.

The Wave Group launched the township challenge — with tech-integrated properties and sprawling inexperienced areas — underneath the state’s hi-tech township coverage in 2009-10. The developer was to develop 4,312 acres of land over a interval for the challenge however failed to amass the land following farmer protests.

“A portion of the land that we have been to amass got here underneath ‘Lal Dora’ enlargement areas. So, we did not pay money for the whole land earmarked for the scheme. Subsequently, the challenge dimension was downsized to 4,196 acres for which we submitted a revised DPR to GDA for approval,” a spokesperson from Wave Group mentioned.

Traditionally, Lal Dora delineations have been established throughout British rule in 1908, marking areas outdoors formal settlements for agricultural functions. These lands have been exempted from common constructing bylaws and municipal laws, however their homeowners usually confronted challenges in proving possession, hindering property transactions and entry to monetary companies.

Out of 4196 acres, the developer claims to have already developed 50% of the land and handed over plots to just about 5,000 households. “The remaining half that’s but to be developed, for which we’ve submitted a number of DPRs however are but to get approval, has been caught following some objection flagged by the CAG. It affected shut to three,000 allottees who had invested within the challenge,” mentioned the spokesperson.

The challenge was stalled since 2017 after a CAG audit flagged non-recovery of almost Rs 401 crore in land conversion fees from the developer.

Issues began to alter in 2023, after a high-powered committee, headed by the chief secretary, was set as much as look into the challenge. In Feb this yr, the committee noticed the “curiosity of homebuyers is paramount” and directed the GDA to approve the revised DPR of the challenge. Wave Group will, nonetheless, must mortgage land and different property value round Rs 400 crore with the GDA for the DPR to be authorised.

“GDA board, which is assembly on Aug 5, will clear the DPR of the Wave Metropolis challenge, after which almost 5,000 allottees may get their plots registered and one other 3,000 are anticipated to get possession,” mentioned an official from GDA.