Do real estate projects and infrastructure development go hand in hand? Yes, say realtors on the Yamuna Expressway.
Going by industry estimates, property prices around Noida and Greater Noida slumped by 25-30% after the Uttar Pradesh Government cancelled the greenfield airport project at Jewar in Greater Noida.
The Yamuna Expressway is a fast-lane highway connecting Delhi and Agra via Noida and Greater Noida. Realtors had reportedly invested over Rs 70 billion in the zone, hoping to gain from the development there.
The Uttar Pradesh Chief Minister, Akhilesh Yadav, had scrapped the Taj International Airport in Jewar that was hanging fire since the idea was first floated in 2001.
By Accommodation Times Bureau
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Resale Property In India
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By the extension of the Delhi Metro to Gurgaon and to the Noida, life of these respective cities became very easy. And now there is a good news for the Greater Noida extension that the Delhi Metro Authority has decided another extension plan of the Metro to the Greater Noida Extension. On one side, as it will hearten the life of the peeps of the town, on the other hand the real estate developers have also tighten their belts to earn an extra penny from the news. They have plotted many a residential and commercial property in the Greater Noida at quite higher rate.
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