Sanjiv Khanna, J.

1. As identical issues arise for consideration, Writ Petition (Civil) No. 427/2005 filed by M/s. Ashok Kamal Capital Builders Pvt. Ltd. and Writ Petition (Civil) No. 2663/2005 filed by M/s. Dyer‘s Stone Lime Company Pvt. Ltd. (hereinafter referred to as Capital Builders and Dyer‘s Stone respectively, for short) are being disposed of this by this common judgment.

2. Dyer‘s Stone purchased property No. 10, Alipur Road, Civil Lines, Delhi (herein after referred to as the property, for short) from the erstwhile owners vide sale deed dated 3rd December, 1956.

3. On 30th October, 1985 Dyer‘s Stone obtained permission from Delhi Administration (Land & Building Department) to develop the property as a group housing project. On 23rd December, 1987, Dyer‘s Stone entered into an agreement with the Capital Builders for development and construction of dwelling units. The dwelling units were constructed and sold to various third parties on execution of registered sale deeds. Requisite stamp duty has been paid on these sale deeds.

4. A portion of the property was requisitioned for Delhi Metro Rail Project w.e.f. 5th February, 2002 for a period of three years. Dyer‘s Sto