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What newspapers say about Noida

Last updated: May 31 2012
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  • What newspapers say about Noida

    Without airport, Noida real estate prices crash

    Bindu D. Menon





    Infrastructure development in the region can offset the impact of airport project being shelved.

    Realtors invested over Rs 7,000 crore in projects along the Yamuna Expressway hoping to gain from the airport in nearby Jewar that the UP Government has cancelled.




    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 per cent 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 7,000 crore in the zone, hoping to gain from the development there.
    Over Rs 10,000 cr invested

    Mr Shobhit Agarwal ,Managing Director, Protiviti Consulting Pvt Ltd, says, “The Yamuna Expressway's returns would be linked to a large part on the development of the airport at Jewar and the consequent traffic generated on this highway. Investment in the Yamuna Expressway is expected to be in excess of Rs 10,000 crore. Investments done by real estate developers along the Yamuna expressway will be hit.
    “There are already reports of some of them not paying their commitments to the Yamuna Expressway development authority leading to cancellation of allotments. Also, projects being developed or proposed have a lot of consumer investments at an early stage — all these would likely be adversely affected.”
    The Uttar Pradesh Chief Minister, Mr Akhilesh Yadav, had scrapped the Taj International Airport in Jewar that was hanging fire since the idea was first floated in 2001.
    Mr Manoj Gaur, Managing Director, Gaursons India Ltd, says, “Cancellation of the proposed airport at Jewar will definitely have a huge impact on the market. Many five-star hotels were planned but now it is unlikely that they will come up. Airport at Jewar was much needed as it could have boosted not only the real estate but would have also brought the movement of MNCs to Noida and Greater Noida.”
    Prop Equity's Mr Samir Jasuja says, “The announcement may negatively impact prices by 5-10 per cent for projects around and in Greater Noida and Yamuna Expressway. Several projects in this region are around 20 km away from Pari Chowk and availability of basic infrastructure is still a major challenge. Our research shows that prices in Greater Noida have already trickled down by around 3 per cent in the first quarter sequentially from Rs 2,564 (in the fourth quarter of 2011) a sq. feet to Rs 2,492.”
    Official sources say that the Government was not keen on clearing the project in Greater Noida because it was too close to the Indira Gandhi International Airport in Delhi. The Aviation Ministry's norms stipulate that a second commercial airport cannot come up within a radius of 150 km from the Delhi airport. Land for the Jewar airport is located about 72 km from the Delhi airport.
    Two views

    Also, leading multinational companies, who had been eyeing development in and around Greater Noida, are now staying clear of investing in the area. Airbus, for instance, has put on hold its plans to set up a factory in Greater Noida.
    Mr Sanjay Rastogi, Director, Saviour Builders Pvt. Ltd, says, “This is a big jolt for the job industry as well as the real estate sector. Infrastructure always plays a main role for the development of any particular area. Gurgaon is booming because of the airport and Jewar airport would have done the same to Noida and Greater Noida. Airports should come up keeping in mind the density and infrastructure and not the distance as is the case in India. Residential market will remain stable, but commercial market will be affected.”
    However, not all realtors agree that the scrapping of the project is bad for the industry as a whole. Mr Neeraj Gulati, Managing Director, Assotech Realty, says, “We feel it is not going to affect at all. In any case, people had expectation that the delivery of such a task will take very long time. Moreover, Noida has a niche of good infrastructural development and being near to the capital enjoys preferential treatment from all segment of customers



    source: http://www.thehindubusinessline.com/...cle3436469.ece
  • #2

    #2

    Re : What newspapers say about Noida

    Welcome back Zohaib in your new avatar :-)

    Comment

    • #3

      #3

      Re : What newspapers say about Noida

      This is how brokers work. they first talk good things about an area.. sell it to buyers.. then move out to other areas..
      Now to sell other areas.. they start telling all negative things about first area...

      Comment

      • #4

        #4

        Re : What newspapers say about Noida

        My personal opinion is that airport might contribute for the development of area, but if the connectivity is good either by road or metro, then a person will not mind to go further in suburbs.

        Imagine, right now it takes around 1 hr from south delhi to sector 62 noida with a lot of traffic stunts. If a person is able to drive at a speed of 80 KM/h on a lane like greater noida express highway, then mentally it will be much closer like chandni chowk has come much closer to noida sector 50 after metro service.

        I have seen in US people drive 30 mins - 45 mins (one side) for job and they travel around 50 kms to 70 km (30 miles to 50 miles) daily (one side). Those people see it as relaxation time as they drive peacefully after a hectic day from work, and find it good to spend some time with self.

        But here a person is more tired in driving rather than work.

        So conclusion is, provide a express road connectivity or metro and people will buy in buland shahar as well...

        Comment

        • #5

          #5

          Re : What newspapers say about Noida

          Originally posted by supercoool View Post
          My personal opinion is that airport might contribute for the development of area, but if the connectivity is good either by road or metro, then a person will not mind to go further in suburbs.

          Imagine, right now it takes around 1 hr from south delhi to sector 62 noida with a lot of traffic stunts. If a person is able to drive at a speed of 80 KM/h on a lane like greater noida express highway, then mentally it will be much closer like chandni chowk has come much closer to noida sector 50 after metro service.

          I have seen in US people drive 30 mins - 45 mins (one side) for job and they travel around 50 kms to 70 km (30 miles to 50 miles) daily (one side). Those people see it as relaxation time as they drive peacefully after a hectic day from work, and find it good to spend some time with self.

          But here a person is more tired in driving rather than work.

          So conclusion is, provide a express road connectivity or metro and people will buy in buland shahar as well...
          but fuel price are killing in India.

          Instead of Airport, cheaper fuel would help GN more.

          Comment

          • #6

            #6

            Re : What newspapers say about Noida

            It does not require an IIT graduate or MIT topper to guess who you are ......You could have used the same id .........


            Originally posted by Devilswisdom View Post
            Without airport, Noida real estate prices crash

            Bindu D. Menon





            Infrastructure development in the region can offset the impact of airport project being shelved.

            Realtors invested over Rs 7,000 crore in projects along the Yamuna Expressway hoping to gain from the airport in nearby Jewar that the UP Government has cancelled.




            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 per cent 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 7,000 crore in the zone, hoping to gain from the development there.
            Over Rs 10,000 cr invested

            Mr Shobhit Agarwal ,Managing Director, Protiviti Consulting Pvt Ltd, says, “The Yamuna Expressway's returns would be linked to a large part on the development of the airport at Jewar and the consequent traffic generated on this highway. Investment in the Yamuna Expressway is expected to be in excess of Rs 10,000 crore. Investments done by real estate developers along the Yamuna expressway will be hit.
            “There are already reports of some of them not paying their commitments to the Yamuna Expressway development authority leading to cancellation of allotments. Also, projects being developed or proposed have a lot of consumer investments at an early stage — all these would likely be adversely affected.”
            The Uttar Pradesh Chief Minister, Mr Akhilesh Yadav, had scrapped the Taj International Airport in Jewar that was hanging fire since the idea was first floated in 2001.
            Mr Manoj Gaur, Managing Director, Gaursons India Ltd, says, “Cancellation of the proposed airport at Jewar will definitely have a huge impact on the market. Many five-star hotels were planned but now it is unlikely that they will come up. Airport at Jewar was much needed as it could have boosted not only the real estate but would have also brought the movement of MNCs to Noida and Greater Noida.”
            Prop Equity's Mr Samir Jasuja says, “The announcement may negatively impact prices by 5-10 per cent for projects around and in Greater Noida and Yamuna Expressway. Several projects in this region are around 20 km away from Pari Chowk and availability of basic infrastructure is still a major challenge. Our research shows that prices in Greater Noida have already trickled down by around 3 per cent in the first quarter sequentially from Rs 2,564 (in the fourth quarter of 2011) a sq. feet to Rs 2,492.”
            Official sources say that the Government was not keen on clearing the project in Greater Noida because it was too close to the Indira Gandhi International Airport in Delhi. The Aviation Ministry's norms stipulate that a second commercial airport cannot come up within a radius of 150 km from the Delhi airport. Land for the Jewar airport is located about 72 km from the Delhi airport.
            Two views

            Also, leading multinational companies, who had been eyeing development in and around Greater Noida, are now staying clear of investing in the area. Airbus, for instance, has put on hold its plans to set up a factory in Greater Noida.
            Mr Sanjay Rastogi, Director, Saviour Builders Pvt. Ltd, says, “This is a big jolt for the job industry as well as the real estate sector. Infrastructure always plays a main role for the development of any particular area. Gurgaon is booming because of the airport and Jewar airport would have done the same to Noida and Greater Noida. Airports should come up keeping in mind the density and infrastructure and not the distance as is the case in India. Residential market will remain stable, but commercial market will be affected.”
            However, not all realtors agree that the scrapping of the project is bad for the industry as a whole. Mr Neeraj Gulati, Managing Director, Assotech Realty, says, “We feel it is not going to affect at all. In any case, people had expectation that the delivery of such a task will take very long time. Moreover, Noida has a niche of good infrastructural development and being near to the capital enjoys preferential treatment from all segment of customers



            source: Business Line : Features / Investment World : Without airport, Noida real estate prices crash

            Comment

            • #7

              #7

              Re : What newspapers say about Noida

              Originally posted by Jai_Singh View Post
              but fuel price are killing in India.

              Instead of Airport, cheaper fuel would help GN more.
              On this note, one question came in my mind. Thought to throw this in the forum.

              As we all know VAT is very high in India than a lot of other countries. And I believe main reason is that this is one of the main source of Govt income.

              Govt also earns a lot of from tax paid on different services, but still not everybody pays tax.

              Although govt expects from every responsible citizen to collect a sales receipt so that shopkeeper cannot hide this sale income. But this govt expectation costs a poor middle class man around 12-13%. And to save this 12-13 % most of the people do not collect proper receipts from shopkeepers.

              If all above is correct (as I don't have complete idea how this service tax system works), then shouldn't govt find a mechanism to avoid this 12-13% extra cost on middle man. If one person has nothing to pay from his pocket, I am sure each and everybody is going to collect receipt for all sales (even for a ballon on roadside).

              I am sorry as this is off topic, but just VAT on fuel prices compelled me to throw this.

              Any thoughts...

              Comment

              • #8

                #8

                Re : What newspapers say about Noida

                Facts are stranger than fiction

                I like your optimism that you can drive at 80km/h on the Noida expressway currently but 5 years down the line when people start moving in, you wont be able to move beyond 8kmp/h. We are talking about addition of lacs of cars on that expressway.

                Think about it!





                Originally posted by supercoool View Post

                Imagine, right now it takes around 1 hr from south delhi to sector 62 noida with a lot of traffic stunts. If a person is able to drive at a speed of 80 KM/h on a lane like greater noida express highway, then mentally it will be much closer like chandni chowk has come much closer to noida sector 50 after metro service.

                I have seen in US people drive 30 mins - 45 mins (one side) for job and they travel around 50 kms to 70 km (30 miles to 50 miles) daily (one side). Those people see it as relaxation time as they drive peacefully after a hectic day from work, and find it good to spend some time with self.

                But here a person is more tired in driving rather than work.

                So conclusion is, provide a express road connectivity or metro and people will buy in buland shahar as well...

                Comment

                • #9

                  #9

                  Re : What newspapers say about Noida

                  Your lanuguage tells you are Zohaib....

                  Originally posted by Devilswisdom View Post
                  I like your optimism that you can drive at 80km/h on the Noida expressway currently but 5 years down the line when people start moving in, you wont be able to move beyond 8kmp/h. We are talking about addition of lacs of cars on that expressway.

                  Think about it!

                  Comment

                  • #10

                    #10

                    Re : What newspapers say about Noida

                    I am not Zohaib!

                    Comment

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