Real estate market is going to be shaken by the decision of Supreme Court today especially in Gurgaon. Not only the real estate market even the Congress government is going to be shaken by this decision. The Supreme court has today held that a lot of land that was been bought up by private builders and middlemen between 2007-2010 is actually a result of malafide decisions taken by the then government allowing them to buy the land.
According to the PIL filed, A lot of land which is to be acquired by the government for the sake of the public infrastructure development, residential areas in public development, was bought up while the accusations was still on by the builders including giant players like DLF, Aditya Build and many others. And all this land was sold to developers.
Supreme Court slammed the Congress Government while this was being done Congress government instead of taking any steps decided to drop the accusations proceedings for several acres of land. Therefore hundreds of acres of land was basically allowed to be sold at very lower prices. Due to which private builders profited and farmers suffered.
Giving a big blow to Congress, Supreme Court has today ordered for setting aside the decision taken in 2007 by the Bhupinder Singh Hooda-led Congress government to drop the land acquisition proceedings for over 600 acre Manesar land and has ordered that land owners who are entitled to actual value of land must be compensated as this whole process was carried out illegally.
Supreme Court clearly stated that in our view, “Those decisions were clear case of fraud on power and as such are annulled” and has now ordered that Manesar land released from acquisition by the Hooda government and on which licenses were given to builders will now vest in HUDA/HSIDC. All licences granted in respect of lands covered by the deemed award of August 26, 2007, will stand transferred to HUDA/HSIDC.
Builders won’t be entitled to recover money paid to landholders. The sale consideration paid by builders to landholders shall be treated towards compensation under the award and the landholders will not be required to refund any amount to such builders
SC has also directed the CBI to investigate transactions including unearthing unnatural gains received by “middle men” in Manesar land case. “Claims of builders entitled to refund will be taken up after settling claims of third parties from whom the builders had collected money. No interest will be payable on such amounts,” the SC order said. “Buyers from whom money was collected by builders will either be entitled to refunds or plots/apartments,” the order said.
The Congress party and his son in law has now to pay back for the loses they have done by illegally carrying out the land allocation process. Congress government who always pretend that they are with the farmers has snatched the rights of farmers and made them suffer, now should return them their deserving credits.