…And jus­tice for the farmers

HT Estates - - HTESTATES -

tion, he can’t take any pol­icy de­ci­sion. So noth­ing will hap­pen till af­ter the gen­eral elec­tions,” adds the in­vestor.

Far mers and their l ead­ers who claim to be the ag­grieved par­ties as the au­thor­ity has ac­quired their land have rea­son to protest. They ar­gue that in 2007 the Au­thor­ity took land from them at 800 per sq mt and in 2008 it al­lot­ted to the home­buy­ers in sec­tors 18 and 20 at 4,750 per sq mt. “Isn’t it un­just? We de­mand that the au­thor­ity give us 60% of the cost at which it sells our prop­erty to pri­vate de­vel­op­ers and home­buy­ers. We will con­tinue to fight till we get jus­tice,” says Man­veer Singh Te­va­tia, a farmer leader.

“The farmers are also di­vided on po­lit­i­cal lines and even if one sec­tion of farmers agrees to ac­cept the 64.7% of hiked com­pen­sa­tion, the other sec­tion sup­ported by an­other po­lit­i­cal party will come in the way of a peace­ful res­o­lu­tion. So un­less the Al­la­habad High Court comes out with a rul­ing which will be bind­ing on ev­ery party, out-of-court set­tle­ments will not help,” says a lo­cal bro­ker.

So should you in­vest here? Ex­perts say t his i s t he right t i me t o do a buy prop­erty around the Ya­muna Ex­press­way as prices are not ap­pre­ci­at­ing for two rea­sons – one, there is a slump in the realty mar­ket and, sec­ond, there are le­gal dis­putes re­lated to land parcels in the area.“Once the gov­ern­ment ac­cepts the pro­posal to hike the com­pen­sa­tion by 64.7%, the land prices are ex­pected to shoot up be­cause most of the farmers are likely to ac­cept the com­pen­sa­tion. A small per­cent­age of farmers who will re­main dis­sat­is­fied will con­tinue to fight the le­gal bat­tle, but that is not likely to ham­per the de­vel­op­ment work here,” says a lo­cal bro­ker.


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