House prices in Greater Noida slashed by up to 30 per cent after airport plan is scrapped

Soaring high on the hope that an international airport would come up at Jewar, the real estate boom in Greater Noida and
around Yamuna Expressway has gone bust, pricked by the Uttar Pradesh government's decision to scrap the airport.
Developers have invested between Rs4,000 crore and Rs5,000 crore in the region. If the airport had taken off driving the real
estate frenzy, the gains they say would have been an impressive Rs70,000 crore to Rs80,000 crore.

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SAI DHAM RESIDENTIAL SOCIETY at YAMUNA EXPRESSWAY

Up to 50 builders have invested around the Yamuna Expressway, a superhighway connecting Delhi and Agra via Noida and
Greater Noida in the National Capital Region (NCR).
Barely a week after the Uttar Pradesh government cancelled the airport plan, land prices are already down by 25-30 per cent.
The airport, former chief minister of the state Mayawati's pet project, was billed as the engine of an economic zone that
would drive growth in the Greater Noida-Yamuna Expressway region.
The announcement of the airport in early 2000 was followed by a dam-burst of investment in the region's real estate sector
in the following years. The investor outlook now looks grim.
'It was a high-investment area for both developers and buyers. But now it makes little sense for them to go 60-70 kilometres
away from Delhi and buy property there,' Shiv Priya, the executive director of Amrapali Group, said.
The sentiment is echoed by others.
'The only basis for the Yamuna Expressway till a few days ago was that it would have been colocated with the airport,' Sachin
Khullar, a real estate investor, said.

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SAI DHAM RESIDENTIAL SOCIETY at YAMUNA EXPRESSWAY

'Now that the airport has been scrapped, the place is no longer an attractive investment destination.'
Industrialists share the view.
'The state's politicians have cheated the Greater Noida Industrial Authority, which was formed exclusively to promote
industry in the region,' Aditya Ghildiyal, vice-president of the Association of Greater Noida Industries (AGNI), said.
'When the authority was formed, we were told the airport would be built, sooner or later. We have been backstabbed.'
Industrialists say the airport would have given a fillip to businesses trying to avoid double taxation in Delhi and Uttar Pradesh
after transiting through the Indira Gandhi International Airport (IGIA) in the country's capital.
This was a major factor that drove real-estate companies and five-star hotel chains to Greater Noida.
'Mayawati's government had allotted plots for five five-star hotels. But the investors are sure to pull out now,' Ghildiyal said.
'Had the airport come up, it would have not only earned the state huge revenue but also benefited Gurgaon and Faridabad.'
Realtors are already feeling the pinch. Prices of plots allotted by the Yamuna Expressway Industrial Development Authority
(YEIDA) are down from Rs8,000 per sq.m. to Rs6,400 per sq.m.
The authority had in 2009 allotted 8,350 plots of sizes ranging from 300 sq.m. to 4,000 sq.m. It sold 4.4 million sq.m. of plots
at Rs4,750 per sq.m., earning Rs2,090 crore.
Without the airport, the expressway will mean little for those wanting to come here,' he added.

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SAI DHAM RESIDENTIAL SOCIETY at YAMUNA EXPRESSWAY

The airport at Jewar, axed by Uttar Pradesh chief minister Akhilesh Yadav on May 9, never really took off since the idea was
first floated in 2001.
A clause in the agreement between the Centre and the Delhi International Airport Ltd. (DIAL), which operates the IGIA, states
that no new airport can come up within 150 km of the Delhi airport.
Citing this rule, the Centre in the past red-flagged the airport repeatedly. Whenever a proposal to revive the airport would
come up, DIAL, which has the right of first refusal, would shoot it down.
The Akhilesh Yadav government has asked state civil aviation officials to pinpoint a place in Agra or Mathura for building an
airport. The preference for Agra has baffled experts, who say that with passenger and freight traffic at Delhi airport growing
there is a very strong case to build a second airport near the Capital to ease the load.
'Look at Heathrow and Gatwick in London, or New York's JFK, LaGuardia and Newark. They are all located close to one
another,' Dr P.K. Sarkar, head of the transport planning department at Delhi's School of Planning and Architecture, said.

Mega Stone Developer

Present

Sai Dham Residential Plots Just 7.50 Lacs on Yamuna Expressway

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SAI DHAM RESIDENTIAL SOCIETY at YAMUNA EXPRESSWAY

Yamuna Expressway is a highway which connects Greater Noida to Agra directly through an access
controlled six lane (later proposed to be eight lane). Yamuna Expressway is facilitated by 4 toll
plazas and 6 interchanges along the entire length which is 165 kms making the route to Agra
through Greater Noida commutable in just 2 hrs. Yamuna Expressway is surrounded by major
cities such as Noida , Faridabad, Khurja, Dadri, Aligarh, Mathura, Agra etc. woring as a trade route
as well as facilitating International Tourism too.

Yamuna covers approx 2689 Sq Kms of area insix districts which is supposed to be developed in
two phases. The beginning of Yamuna Expressway is covered by Greater noida and then Yamuna
expressway development authority starts. Yeda is an ambitious project wherein object of
international tourism and educational institutes are given the preference. On the very starting is
Gautam Buddha University and then comes Noida University, Galgotia University etc. As far as
tourism is concerned Yamuna Expressway proudly boasts of Buddha international Circuit which is
the hub for Formula 1 Racing. Then comes the Night Safari which is the fourth of its kind in the
world. International Sports Stadiums for cricket Tennis Football etc are being developed in the
vicinity. An international airport by the name of TAJ international Airport is proposed in the
vicinity. Also a helipad is proposed which would take the tourists directly from the Buddha
international circuit to Agra offering commutation a new high.
Plots Sizes :Type

Sizes

Sale Price (in Rs.)

Classification

Free Hold

60 sq yards

On Request

Residential Plots

Free Hold

100 sq yards

On Request

Residential Plots

Free Hold

103 sq yards

On Request

Residential Plots

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SAI DHAM RESIDENTIAL SOCIETY at YAMUNA EXPRESSWAY

Industries are already there in the vicinity such as IOC Refinery, Mathura, Sugar Mill Chatta, Locks
Manufacturing, Aligarh and ranging from Agro Based Food Processing, Ready Made Garments,
Wooden Furniture, Paper & Paper products, Leather Based, Chemical & Chemical based, Rubber,
Plastic & Petro based, Metal Based (Steel Fab.), Engineering Units etc. Offering a promising future
for the locality. This is alluring people from all over India to invest at Yamuna Expressway in
property be it Residential plots, Residential flats, Commercial plots, Commercial shops in malls etc.
The best bet in all has been the residential plots which have always been the investors first choice.
Residential Plots in Yamuna Expressway are being offered in many a projects such as Sai Dham,
Upcountry, Orris, Jaypee etc. Even Yeda itself has offered residential plots for the public and plots
at Yamuna Expressway are being purchased hand in hand. Unlike Noida; Authority as of now has
no such limitation on construction on plots at Yamuna Expressway of two and a half storey and
one can construct upto four floors with stilt parking at the ground level and thus rentals are going
to be high at the locality.
COMING SOON DEVELOPMENT BY META STONE DEVELOPER IN YAMUNA EXPRESSWAY

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SAI DHAM RESIDENTIAL SOCIETY at YAMUNA EXPRESSWAY

Within few years the area would be fully developed with the international tourists flowing in and
that will make the property rates skyrocket in the vicinity. Therefore it is very much advisable to
invest in real estate with apartments at Yamuna Expressway starting from 25 lacs and Plots in
Yamuna Expressway starting from 7.5 lacs.

Mega Stone Developers Pvt. Ltd.

Office Address- Vishal Chamber, 516, 5th Floor, Sector-18 Noida
Ph.- +91-120-4575756, +91-9711116322
Marketing- +91-9911125352, +91-9211945658
E-mail- info@megastoneindia.com

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SAI DHAM RESIDENTIAL SOCIETY at YAMUNA EXPRESSWAY