Web 2.0 applications are complex information systems. Likewise any desktop applications, web applications are complex and require effective requirement prioritization preceded by effective decision aspect prioritization by involving diverse stakeholders. During the release of new increments, objective is to provide value to the software and simultaneously lowering the regression testing effort. This can be achieved by implementing all highest priority requirements along with those dependent on them so that next increments implemented requirements independent of already implemented ones. The challenges involved in aspect selection, requirement prioritization, and effective selection of the security requirements of Web 2.0 application makes its incremental deliveries a complex task as compared to that of desktop applications. The proposed requirement prioritization process is hybrid approach i.e. Based on combination of negotiations and methods to prioritize both decision aspects and software requirements. This technique reduces regression testing effort by taking an impact on regression testing as one of the parameters during prioritization and overcomes various problems related to prioritization of web 2.0 applications. This technique is applied on live system of “Virtual Classroom”, by employing three stakeholder groups with total 8 stakeholders. Results were promising since it resulted in the successful delivery of web application due to effective aspect and requirement prioritization thereby leading to reduced regression testing effort.