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Beginning of the End?

Last updated: February 23 2010
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  • Beginning of the End?

    Surely for Greater Noida and YEIDA.

    For NOIDA - I guess the hype will fade. If this is true - then Gurgaon will be the place to work, live and invest in...

    Hope this is just a rumour....

    Cheers

    See article

    ]http://timesofindia.indiatimes.com/city/delhi/UP-for-Meerut-airport-G-Noida-realty-may-skid/articleshow/5605019.cms[/URL]
  • #2

    #2

    Re : Beginning of the End?

    Well I don't think this news will have any great affect on GNoida prices.

    First of all the GNoida prices were not solely dependent on the airport. The proposed airport was quite a distance from Gnoida. The city was and will keep developing irrespective. I think GNoida needs better public transport connectivity to Noida, Delhi, Faridabad etc and basic amenities like good schools, hospitals, malls etc.

    GNoida is going through what Gurgaon went through over the past few years. Lack of good public transport always hampered growth there and Noida got way ahead of Gurgaon.

    The airport may have helped in the rate of price appreciation but just the airport alone cannot be responsible for entire city's growth.

    Secondly, I am not sure if an airport in Merrut is even true, it could surely be a rumor to make some money in RE. First of all no state govt. can unilaterally decide to go for airport development. any new airport has to be passed by the Ministry of Civil Aviation before any work can be done on it. SoI am not sure how is the state govt. calling consultants on its own.

    We all know the equations between the various state govts and central govt. I'll be really surprised if Merrut airport is approved when Jevar airport was not!!

    Comment

    • #3

      #3

      Re : Beginning of the End?

      I think a major draw for GN/YEIDA/Sports City etc was that they would have an international airport close by and it would attract corporates to set up shop there. So with this news that advantage will disappear. If there are no growth in jobs - no point in having transportation, schools etc. The area will not grow like other cities where jobs are being created. It might be good place to retire if all the infrastructure you are mentionning is put in place. No way you can live in GN and work in Delhi!!

      Well - I think it will be either Jevar or Meerut - cannot have two international airports so close to IGI.

      I did some further research after reading the article. They surely are going ahead with a feasibility study and look to be serious abt this project. Still in the preliminary stages but they are working on it. The feasibility study might come back and say - not feasible or profitable - but if Jevar airport was feasible, this sure can be made feasible. I didnt have time to go through the 72 pages fo the RFP - but here is the link:

      ]http://civilaviation.up.nic.in/Rev%20RFQ%20cum%20RFP-3.pdf[/URL]

      Also the Centre - in this case GOI ministry of civil aviation only comes in play once the final security clearances and approvals are required. Any state can start working on an airport plan without GOI clearances. The final OK though will come from Center. The Nagpur international logistics hub was conceived by the state govt of Maharasthra, they planned it, proposed it, got the go ahead and built it. Maybe someone can update us on how much business that place is doing now..

      As for clearenaces from Center, it will depend on who has larger land holdings in this part of the state v/s Jevar.

      Cheers

      Comment

      • #4

        #4

        Re : Beginning of the End?

        I am not an expert at Govt. rules, but then based on what you have quoted, the UP govt. should have gone ahead with the construction Jevar airport long time. As far as i understand the GOM in the central govt. has so far not given the go ahead for this project and hence no activity on this. All airports unless private come under Airport Authority of India which is Controlled by DGCA and Ministry of Civil Aviation. Or am I missing something here?

        I am not surprised by what happened in Nagpur, understand the govt, in Maharashtra as compared to the one in UP in the last 10 yrs.
        Originally posted by Sushantg View Post
        Also the Centre - in this case GOI ministry of civil aviation only comes in play once the final security clearances and approvals are required. Any state can start working on an airport plan without GOI clearances. The final OK though will come from Center. The Nagpur international logistics hub was conceived by the state govt of Maharasthra, they planned it, proposed it, got the go ahead and built it. Maybe someone can update us on how much business that place is doing now..

        As for clearenaces from Center, it will depend on who has larger land holdings in this part of the state v/s Jevar.

        Cheers

        Comment

        • #5

          #5

          Re : Beginning of the End?

          Well - no - they can't start construction before they get clearances. But they have all the right to plan, propose and prepare feasibility reports and present it to GOI. Only once the Center clears any proposal will the construction start. As I said the Nagpur project was built only after they got the go ahead.

          So now - if they go ahead with this - a report is prepared , it will be a fight between Meerut and Jevar and UP govt will say at least approve one of them - you cant keep stalling both projects

          If the Private partner in Meerut is GMR - you can be assured that Meerut will win and will get a small international airport with the traffic shared between the two airports as decided by the GMR consortium. They dont want to lose their IGI revenue by creating another international airport within 70 kms of Delhi which will only benefit the Jaypee Group. Would you let it go? and that also after spending billions in IGI modernization. Unless Jaypee and GMR form a JV for the Jevar airport with GMR getting its share of the kitty - can't see why Jevar would ever come up in the next 10 years.


          Cheers

          Comment

          • #6

            #6

            Re : Beginning of the End?

            maybe a dampener for G.Noida but airport never was a consideration for Noida RE market.. that depends on jobs scenario in the micromarket - which I think is pretty robust.. commercial realty in Noida is pretty cheap as compared to Gurgaon so lot of companies do prefer Noida.. G.Noida is a fair comparison to Manesar, etc. - which btw will suffer the same fate given the abundant supply in Sohna Road & Golf Course Extn / New sectors..

            I think more than big bang projects like Airports or sports cities, more localized civic / maintainence issues will swing the prices + or -.

            they heydays of RE are over .. whether its Gurgaon or Noida or whatever.. No reason is good enough for expecting a 40% yoy growth anywhere..

            what say..

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