Developers Opine That Infrastructure Projects On Yamuna Express Way Will Facilitate The Revival Of Real Estate Sector

Approval of a 700-acre Electronic City project near the upcoming Noida International Airport by the Uttar Pradesh cabinet will further boost the real estate demand in Noida, according to developers.

The Yamuna Expressway Industrial Development Authority (YEIDA) will acquire land for the project and allot it to the companies.

“This will attract large electronics manufacturing companies from across the globe who have been looking towards India as their destination for expansion. Besides Noida and Greater Noida, the biggest and the most effective positive impact will be seen on the housing, office and retail market of Faridabad which is being connected with expressways, highways and metro rail for easy accessibility,” said Mohit Goel, CEO, Omaxe Ltd.

According to Ashok Gupta, CMD, Ajnara India Ltd, it is a good sign for the real estate sector in the state.

“In fact, the announcement of the electronic city near Jewar will give a boost to the projects on Yamuna Expressway, which is already getting the attention of the buyers and investors,” Gupta said.

The Yamuna authority has planned Film City, logistic park, toy park and Heritage city along the Yamuna expressway.“We are sure that Yamuna Expressway will see more development after the announcement of electronic city in this budget by the UP government. The expressway is the centre of attraction since the time Jewar airport was announced and got further boost when the work started here recently. In the coming few months, the appreciation on this stretch will be good, and hence it is an opportunity for the investors as well as the end-users,” said Harvinder Singh Sikka, MD, Sikka Group.

Dhiraj Jain, Director, Mahagun Group said that the focus on infrastructure and employment will help the real estate sector grow.

(Source: Economic Times)