Prices may shoot up on Expway

The court's decision to denotify land in Noida Extension may augur well for developers who have projects along the Expressway.

The court's decision to denotify land in Noida Extension may augur well for developers who have projects along the Expressway.

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"The valuations will go up as this will put a cap on new land supply in the area," said Anckur Srivasttava of GenReal Advisors, a real estate advisory firm.

Greater Noida has the most developer-friendly land allotment policy.

In Gurgaon, group housing area ought to be over 10 acres.

"But in Noida, a two-and-a-half acre group housing can easily be available with only 15% payment at the time of booking...," he said.

So now, medium-sized and small developers focusing on Greater Noida may show signs of duress, he said.

Besides, though court decision hits just a few projects, the panic in the market can have large scale repercussions.

"The farmers' petitions may have a larger bearing in other areas," said Sachin Sandhir, MD and country head, Royal Institution of Chartered Surveyors.

"The fundamental issue is take a second look at the Land Acquisition Act, quick fixes will not help," he said.