he Noida Extension land acquisition fracas was all about the authorities allowing developers to acquire land at considerably low prices from farmers and also changing the planned use pattern from industrial to residential. Farmers revolted and were able to gain wide support from different quarters.
After massive agitations and high court orders, the authorities gave the verdict that the affected farmers were eligible for compensation from the land allottees that had acquired their land at meagre prices. Going by prevailing trends, it was to be expected that builders of projects on the plots will pass on the added costs to consumers. They have gone ahead and done so, raising the cost per unit in order to pay the stipulated compensations as demanded by authorities.
Also, the construction work on a majority of the projects in this area has been stalled since the acquisition row. This has resulted in limited availability of options, which in turn has enabled developers to have their own way with regards to the pricing for unsold inventory. Higher prices resulted and were accepted, as they were still perceived to be on a comparatively lower side.
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