V. K. KHANNA, J.:- This writ petition has been filed by petitioner No. 1, which happens to be a Housing Co-operative Society registered under the U. P. Co-operative Societies Act and also by other petitioners who happen to be its office-bearers. The petitioner-society was formed with the object of acquiring land for its members in order to build their own houses and to do incidental work in connection therewith. More than 60 acres of land situated in village Chhalera Bangar and Suthari were acquired by the Society between Jan., 1973 to Sept., 1975.

2. U. P. Industrial Area Development Act, 1976 was enacted for the constitution of an authority for the development of certain areas in the State into industrial and urban township and for matters connected therewith. The State of U. P. by a notification dated April 17, 1976 declared the area comprising the villages mentioned in the Schedule annexed to the notification to be an industrial development area within the meaning of the 1976 Act to be called "New Okhla Industrial Development Area (hereinafter referred to as the "NOIDA"). Soon after the constitution of the Noida Authority a notification under Sections 4 and 17 of the La