New Delhi. You must have often read and heard that due to the arbitrariness of the builder, home buyers have to face difficulties and their money also gets stuck. But, this time the builder's mistake cost him dearly, that too a full 1500 crore rupees. The Allahabad High Court has given a verdict in favor of Yamuna Expressway Industrial Development Authority (YEIDA) by dismissing the petition of Vanalika Developers Private Limited in this case.

This case is of the year 2011-2012, when BSP and SP were in power in UP. Vanalika Developers had challenged the decision of Yamuna Authority in the court. This case is related to the surrender of 100 acres of plot purchased in Sector 22D of Yamuna Expressway. This plot was initially given to a consortium of 4 companies. It included Sunworld Infra Company, Vanalika Developers, Odian Builders, and Vanalika Infra Company. This project was being managed by the special purpose company Sunworld City Private Limited.

The case
got stuck due to mutual disputes within the consortium and no construction could be done on this land. The court said in its order that Vanalika Developers has a 15% share in this consortium. Hence, it has no legal basis to challenge the decision of the authority.

How much was the plot bought for?
This plot was bought for Rs 205 crore in 2011-12 during the BSP and SP government. The authority has declared its price as Rs 1700 crore as per the current rate. It is obvious that now it needs Rs 1500 crore more for this 100-acre plot. The court has also given its decision in favor of the authority and has asked to pay the money.

Home buyers opened front.
Amidst this fight between the builder and the authority, home buyers have also opened the front. Those who have invested in this project have announced to protest if the plot is surrendered. Along with this, they have also demanded an investigation against the builder by CBI and ED. They say that their invested money should be returned with interest.

What did the court say?
The High Court said in its decision that the case of Vanalika Developers is complicated due to its internal dispute and not due to any wrong step of the authority. It also said that this matter should be resolved through a suitable forum like NCLT, where the case is already pending. On the other hand, the current Yogi government of the state has said that the matter will be resolved transparently. After the court's order, it is believed that the auction of this plot will start soon and the hopes of township development on it have also increased.