Noida real estate faces a price reduction
After the UP government cancelled the Greenfield airport project at Jewar in Greater Noida, the property prices around Noida and Greater Noida slumped by 25 to 30 per cent.
The Yamuna Expressway‘s returns were linked to a large part on the development of the airport at Jewar and the consequent traffic generated on this highway.
It is already reported that the Yamuna Expressway development authority are cancelling many allotments as the project owners are not paying their commitments after the announcement made by the government.
The cancellation of the proposed airport at Jewar is showing its impact on the real estate market. Many five-star hotels were planned but now it is unlikely that they will come up.
Leading multinational companies, who had been eyeing for expansion in and around Greater Noida, are now staying clear of investing in the area.
Gurgaon is booming because of the airport and Jewar airport would have done the same to Noida and Greater Noida.
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Infrastructure development are highly important to Noida Government
Source: The Hindu business Line
Greenfield airport project at Jewar, infrastructure development projects, projects in India, property prices around Noida, Real estate projects in India, Yamuna Expressway
