With the ongoing agitation by the farmers over the Shahberi village land acquisition the Supreme Court scrapped the deal. A lot of builders have been affected, Supertech, Amrapali and Gaursons and so are the people who have invested in the projects there… not the forget the farmers who sold the land. The core issue is that the land which was acquired by the Greater Noida Industrial Development Authority (GNIDA) for Rs.800 sqm was sold to the builders at Rs.12000 sqm. The farmers are not happy about this… since Rahul Gandhi is leading the cause of the farmers, one does not know if this is politically motivated or not.
I don’t think the farmers want the land back, they just want fair compensation for it at this point of time.. GNIDA seems to be at fault as they are the ones who were the biggest beneficiary for this deal. Lets see what developments happen in the future. I myself have invested in Gaursons and am uncertain about its future, though construction is happening in Gaursons site and their project does not have much land which comes under Shahberi Village. I would definitely wait before paying the next installment.