Dealers created an artificial price hike in last two months. They did bulk purchasing from the owners at little profit (who were btw pissed off as no development for so many years, money stuck and files going on loss). Then started selling those for even 7~8 lakh profit.
The genuine buyers who jumped in based on this artificial hike, paid huge sums. Now on ground, there's no development and possession is probably out of question for next 3-4 years.