Delay in KMP Expressway disappoints realtors, entrepreneurs
Owing to liquidity crisis with its developer, DS Construction, Kundli-Manesar-Palwal Expressway (KMPE) has missed several time limits.
Its recent deadline has been set to May 2013 by state governments of Haryana and Delhi after resolving the financial level of the developer.
The delay in the project has disappointed many entrepreneurs and realtors who were betting high on the project.
Around 20,000 ready to shift flats lying vacant at Sonipat, which is expected to emerge as new satellite city of New Delhi.
If KMPE starts running, it would boost the infrastructural development in the region including transportation, electricity and water supply which would further improve the revenues of Kundli Industrial Area. Also it is expected to increase the annual revenue generation of industries based in Noida by around 10 percent.
There is no rise in office space rentals as KMPE is getting delayed. Once KMPE becomes operational, the office space business would amount to about 20 percent of the net realty business in Sonipat whereas the city is expected to register at least 60 percent growth from the current levels.
To read more real estate news:
Buying house is no more a better investment for youngsters
New target for property tax inspectors
Source: The economic Times
Delhi, DS Construction, Entrepreneurs, Haryana, Kundli Industrial Area, Kundli-Manesar-Palwal Expressway (KMPE), New Delhi, Noida, Realtors, satellite city, Sonipat
