With government major policy reforms like RERA, GST, and Housing for all initiative, today even a mid-segment buyer can think of buying their dream home. Whether it is a tier-1 city or tier-2 city most of the developers are focusing on the development of affordable homes that are in reach of maximum homebuyers.
In a recent development, the Gautam Budh Nagar has finally acquired the first portion of farmland for the proposed Jewar International Airport. The acquired land parcels have been transferred to the project’s implementing agency.
The Yamuna Expressway Industrial Development Authority (YEIDA) recently revealed that since the announcement of Jewar Airport, investment has received a major boost in and around the Yamuna Expressway areas.
The Uttar Pradesh State Government gave nod for the Jewar airport bid document prepared by Price water house Coopers [PwC]. The proposal will now be sent to Union civil aviation ministry for clearance officials said. The ministry is expected to send clearances for the same by the December-end. After which, the project will have an open international bidding for the tendering process.
NAIL, i.e. the Noida International Airport Company Limited will be responsible for the bidding process. This is a company formed by the Yogi Aditynath-led Uttar Pradesh State Government in August 2018 to get the Jewar International Airport project rolling. The company NIAL recently formed a core team of 10-members that include officials from YEIDA for the handling of airport-related work.
In order to expedite the work of the Jewar Airport, the UP Government has directed all the three authorities i.e. Noida, Greater Noida and Yamuna Expressway to provide funds for the same. The order has been given by the UP chief secretary Anup Chandra Pandey, in a recently held meeting in Lucknow.
The meeting was also attended by CEOs of the three authorities as well as Noida international airport limited (NIAL), the agency which has been appointed to supervise the airport development work. Speaking after the meeting, YEIDA, as well as NIAL CEO Arun Vir Singh, said, “As discussed earlier too, the Noida authority and the state government will both have a stake of 37.5% each in the company while the Greater Noida authority and the YEIDA will have a stake of 12.5% each.”
According to a latest report by a top real estate services and investment management firm, Noida has emerged as the third most sought-after commercial destination in India followed by Bengaluru and Hyderabad. The report released by Colliers International revealed that flourishing start-up culture, lower rentals, well-developed infrastructure, and improved connectivity have geared up the commercial real estate in Noida.
The report stated, “Noida registered 100 percent growth in the office space absorption in H1 2018 as compared to 2017. Close to 2 million sq ft of office leasing was recorded during the period. However, the figure is expected to grow to 3.5 million sq ft by the year-end.”