1. This writ petition is directed against the proceedings dated 111. 1996 issued under Section 4(1) of the Land Acquisition Act as well as the declaration dated 211. 1997 issued by the second respondent, whereby the property of the petitioners and other land owners were acquired for the purpose of Tamil Nadu Housing Board.

2. The factul matrix necessary for the disposal of the writ petition are as under:- Petitioners version

The petitioners were the owners of the land in Survey Nos.150/3I, 150/3C and 152/2 in Vilankurichi Village, Coimbatore North Taluk and after purchase of the property, the petitioners along with other land owners jointly formed a lay out in the year 1995 for the purpose of selling the lands in small plots as house sites. The property was purchased by the individual land owners by way of separate documents. Subsequently they got the approval of the lay out from the Director of Town and Country Planning as per the proceedings of the year 1995. The petitioners have also executed a registered settlement deed in favour of the local panchayat for providing road, park, etc. The petitioners executed several sale deeds in the year 1995 and 1996 to individual p