Excellent infrastructural developments, proximity to Delhi, moderately low property prices turned out to be the reasons behind the growth of the real estate development of the city in the past few years. Over a dozen of projects have been launched since the time Yamuna Expressway was announced. Leading developer in this group was of course Jaypee Group; the builder has bought sweeps of land on both sides of the Yamuna expressway at a very low price from the Mayawati Government in lieu for developing the expressway itself. The F1 race track, the night safari, proposed airport and the stadium on the expressway are the highlight projects around the region in the vicinity that are nearing their respective completion dates.
Renowned developers active in Delhi-NCR like Supertech, 3C's, Jaypee, Earth Infrastructure, Amrapali, Gaursons, Panchsheel, Ajnara and others have made maximum profits from the projects around expressway. Brokers opine that the farmers' protest will have no impact on the prices of the projects around the expressway. They further added that the apartments will be sold on the current prices only and nothing less or more.
Farmers' Protest: Current Scenario
For past couple of weeks Noida has been creating news headlines, though not for correct reasons, farmers residing in the villages in and around expressway are demanding a higher compensation for their land that was purchased by the UP Government for the construction and development of the Rs 9739 crores Yamuna Expressway. Though there might be a disagreement about the nature and quantum of impact of protest, but there will a unanimous opinion on the fact that political color is attached to it and as result of this protest a number of projects will be affected. The result of the protest has affected the investor's interest in the region and might be held back on the whole.
As per the market experts the protest was used as a medium to create a buzz in the current U.P. political scenario. Realtors working the region believe that farmers' protest is a political issue and will remain a hot topic till the next U.P. assembly elections that will be taking place in 2012. As the opposition parties don't have many issues against the BSP government to be highlighted they will surely try and keep the farmers' protest burning and alive till the elections to gain maximum benefits out of it. In spite of the protest, the agents still feel that the expressway is an excellent investment option and the prices will certainly go up in the long duration of time.
The agitation has started from Noida Extension and has spread to the areas close to Jewar, which is the proposed site for the new airport in U.P. Misinformation or unawareness about the whole issue and the actual place where the protest is taking place is creating a stir among the end users. Market analysts believe that it is important for them to recognize the fact that the problem exists 20 kms beyond the expressway; as a result the prices of the projects will remain unaffected.
Effect on investments and property prices
Though the protest is actually beyond the expressway but still it would be erroneous to say that it will not have any effect on the investment situation of the Yamuna Expressway. To begin with, there has been dissemination of a negative reaction in the investor group active in the area. Even though if the investments in the region do not go down, they will surely reach a stage in the midst of which purchases and investments will be deferred.
A large number of real estate agents in the area think that in due course of time the prices in this area will increase and have been asking their clients and investors to hang on. Initially, customers and investors were told that the projects around the expressway will have full occupancy but in reality the picture is different as many flat holders have withdrawn the booking amounts and some have even cancelled their bookings. Many apartments are vacant now as there are no buyers because of the farmers' protest in the area. However there are end users who are still hanging on to their bookings on the advice of their brokers as they are sure that there is no way that the agitation will have an impact on the land.
Developers' offices are flooded with customers and investors who are eager to inquire about the chances of survival of their flats but to their vain they have nothing new to tell them. On an average, a developer is getting 100 calls every day related to the issue and they tell them the same thing: the farmers' protest in Greater Noida has no relation with land acquisition for Yamuna Expressway project or compensation rates.
The market analysts believe that Noida land acquirement is just a political matter and it has very little to do with the land rates or projects that are developed in the area. For the developers who have a lease deed in place from the Expressway authorities by now have a little to worry about. They are bound to develop the region as committed to their investors. But for the developers who have just pre launched their projects at an early stage without having the lease deed in their name could be the ones who will be hit the most out of this protest.
Article Source: http://EzineArticles.com/6329112
Renowned developers active in Delhi-NCR like Supertech, 3C's, Jaypee, Earth Infrastructure, Amrapali, Gaursons, Panchsheel, Ajnara and others have made maximum profits from the projects around expressway. Brokers opine that the farmers' protest will have no impact on the prices of the projects around the expressway. They further added that the apartments will be sold on the current prices only and nothing less or more.
Farmers' Protest: Current Scenario
For past couple of weeks Noida has been creating news headlines, though not for correct reasons, farmers residing in the villages in and around expressway are demanding a higher compensation for their land that was purchased by the UP Government for the construction and development of the Rs 9739 crores Yamuna Expressway. Though there might be a disagreement about the nature and quantum of impact of protest, but there will a unanimous opinion on the fact that political color is attached to it and as result of this protest a number of projects will be affected. The result of the protest has affected the investor's interest in the region and might be held back on the whole.
As per the market experts the protest was used as a medium to create a buzz in the current U.P. political scenario. Realtors working the region believe that farmers' protest is a political issue and will remain a hot topic till the next U.P. assembly elections that will be taking place in 2012. As the opposition parties don't have many issues against the BSP government to be highlighted they will surely try and keep the farmers' protest burning and alive till the elections to gain maximum benefits out of it. In spite of the protest, the agents still feel that the expressway is an excellent investment option and the prices will certainly go up in the long duration of time.
The agitation has started from Noida Extension and has spread to the areas close to Jewar, which is the proposed site for the new airport in U.P. Misinformation or unawareness about the whole issue and the actual place where the protest is taking place is creating a stir among the end users. Market analysts believe that it is important for them to recognize the fact that the problem exists 20 kms beyond the expressway; as a result the prices of the projects will remain unaffected.
Effect on investments and property prices
Though the protest is actually beyond the expressway but still it would be erroneous to say that it will not have any effect on the investment situation of the Yamuna Expressway. To begin with, there has been dissemination of a negative reaction in the investor group active in the area. Even though if the investments in the region do not go down, they will surely reach a stage in the midst of which purchases and investments will be deferred.
A large number of real estate agents in the area think that in due course of time the prices in this area will increase and have been asking their clients and investors to hang on. Initially, customers and investors were told that the projects around the expressway will have full occupancy but in reality the picture is different as many flat holders have withdrawn the booking amounts and some have even cancelled their bookings. Many apartments are vacant now as there are no buyers because of the farmers' protest in the area. However there are end users who are still hanging on to their bookings on the advice of their brokers as they are sure that there is no way that the agitation will have an impact on the land.
Developers' offices are flooded with customers and investors who are eager to inquire about the chances of survival of their flats but to their vain they have nothing new to tell them. On an average, a developer is getting 100 calls every day related to the issue and they tell them the same thing: the farmers' protest in Greater Noida has no relation with land acquisition for Yamuna Expressway project or compensation rates.
The market analysts believe that Noida land acquirement is just a political matter and it has very little to do with the land rates or projects that are developed in the area. For the developers who have a lease deed in place from the Expressway authorities by now have a little to worry about. They are bound to develop the region as committed to their investors. But for the developers who have just pre launched their projects at an early stage without having the lease deed in their name could be the ones who will be hit the most out of this protest.
Article Source: http://EzineArticles.com/6329112
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