Greater Noida: The Supreme Court's decision to cancel land acquisitions in the Noida Extension area has left thousands of investors in the lurch. But in Shaberi village, the order has made many farmers happy.
Sixty three-year old Rajpal Arya was a relieved man after the Supreme Court on Wednesday asked the Uttar Pradesh government to return the 156 hectares of land they had acquired in Shahberi village to the farmers.
Two months ago, Arya was shocked when he discovered that the Greater Noida Authoritity had removed his name from his own property - all supposedly for industrial development, but actually, for glitzy real estate development.
Like hundreds of farmers, Arya had refused compensation. He just wanted his land back. Today other villages like Roja Jalalpur plan to follow in Shahberi's footsteps and get their land back from developers.
One of the real estate sites, which was buzzing with construction activity until Wednesday, was holding a deserted look on Thursday. After the Supreme Court has passed an order in favour of the farmers, it is the thousands of investors, who have booked houses in properties across Shahberi Village, whose dream house seems like a distant reality.
Rajiv Agarwal, an IT professional from Noida, had booked an apartment with Mahugan, one of the developers affected by the Supreme Court judgement. He had invested all his savings.
"I have been getting sleepless nights for the past two months," said Rajiv Agarwal.
Today Rajiv is upset and angry....and what's making him angrier is the fact that getting a refund is not so easy. However, developers say, they are working a way out.
"No need for investors to worry. We are either going to refund the money or relocate you to a property of your choice," said Mahagun Director Amit Jain.
The judgement comes as a blow for over 5000 investors, who have got caught in the middle of the land mess. For many that dream home will probably remain just that - a dream.