Skip to content
Subscriber Only

Delhi Building Boom Hits Snag as Farmers Take on Developers

Rohit Saxena used to spend weekends huddled in a makeshift tent on the side of a dusty road in one of New Delhi’s fastest growing suburbs, darting into the baking sun to hand passing cars brochures for residential developments.

The heat and jostling with rival brokers in the software hub of Noida, east of New Delhi, was worth the reward, said Saxena, who closed 10 deals per weekend and in his best month earned 29 times India’s per-capita annual national income. The tents are now abandoned after courts ruled in favor of farmers protesting the acquisition of their land for development, scaring away buyers already saddled with higher borrowing costs.