JEWAR AIRPORT: JET, SET, GO!: Advantages of Yamuna Expressway Projects

The first phase of the Jewar airport, with two operational runways, will be constructed on 3,000 acres and be operational by the middle of 2022

The Union government has finally given nod for an international airport at Jewar on Yamuna Expressway, which will greatly boost commercial activities in Noida, Greater Noida, and Yamuna Expressway.

An airport at Jewar will also give fillip to commercial activities in areas like Ghaziabad, Meerut, Hapur, Moradabad, Aligarh, Mathura, all the way up to Agra.

Arun Vir Singh, CEO of Yamuna Expressway Industrial Development Authority (YEIDA), said the authority would select a concessionaire by September 2018, through global bids likely to be issued in the next couple of months, for constructing the airport.

The foundation stone for the airport would be laid by October, while work on the ground would commence by March 2019, Singh said, adding that the first of the four phases would be ready by mid-2022.

The airport will be built on 12,500 acres at a cost of around Rs 15,000 crore. The cost of land acquisition will be borne by the UP government.

The first phase with two operational runways will be constructed on 3,000 acres and be operational by the middle of 2022.

Singh said that in the first year itself, the airport would handle around 1.2 crore air-travellers, according to one estimate. A report by PWC said that the airport would have passenger capacity of 10 crore by 2050.

The plan envisages multimodal mass transit systems like elevated roads, elevated and underground Metro network to connect the proposed airport at Jewar with IGI airport and commercial centres like Greater Noida, Noida, Ghaziabad, Meerut, among others.

In order to attract more passengers, the government is working on many fronts to improve connectivity of various parts of the nearby states and the existing IGI airport in Delhi.

The UP government is inspecting the feasibility of connecting the proposed airport with Sarai Kale Khan in Delhi through a dedicated Rapid Rail Transit System (RRTS) corridor.

The National Capital Region Transport Corporation, which is already working on other RRTS alignments, is also looking into the dedicated RRTS between Jewar and Sarai Kale Khan.

Singh said that the government has already approved a proposal to connect Sarai Kale Khan with Meerut, Panipat, and Alwar through 3 dedicated RRTS. Apart from Sarai Kale Khan-Jewar airport RRTS, the Noida-Greater Noida Metro, which is under construction, would be extended to the proposed Jewar airport.

Residential projects such as Shubh Villa and other surrounding on Yamuna Expressway would be the best option for living.

RIGHT TIME TO BUY YOUR HOME

Recent policy reforms have made home-buying safer and the market buyer-friendly. Thus, this may be the best time to buy a house

Rocketing property prices combined with costlier home loans and project delays forced a majority of homebuyers to defer the purchase of their dream homes. However, recent policy reforms as well as structural changes have not only made home buying safer and the market end-user friendly, they have also changed the way realty business is conducted.

Property rates are almost constant for a few years now, developers have shifted their focus to affordable housing, home loans are at 10-year low, and there are various government incentives like PMAY.

With this consumer confidence has increased and buyers have again started flocking to the market. Moreover, Akshay Tritiya is round the corner, which is considered an auspicious time for owning a home.

Top reasons for buying a home now:

1. Huge unsold inventory: Developers are battling with huge unsold inventory and, in addition, 1.72 lakh unsold units are likely to be available in 2018. “With so much ready-to-move-in (RTM) inventory, developers are keen to offload them at the earliest. This may provide good deals in the market,” Anuj Puri, chairman of ANAROCK Property Consultants, said.

2. No GST on ready-to-move-in homes: Ready-tomove-in units with Occupancy Certificate (OC) do not attract GST. So, purchasing such properties can be beneficial for homebuyers. In addition, with rising inflation, interest rates are likely to harden in the future. So, for buyers, it is the right time to avail of a home loan at the best rate.

3. Special offers on Akshay Tritiya: Developers will roll out a plethora of special offers, discounts, freebies and schemes to attract homebuyers during Akshay Tritiya. Buyers will obviously evaluate such offers for their intrinsic value.

“For Indians, buying a home is a very significant investment, and developers are aware that they must offer true value to someone who is making such a heavy financial commitment in favour of their projects. They will have to ensure that the special festive discounts they offer are indeed meaningful and not just superficial retail enticements since they know that the market currently has no shortage of options for serious buyers,” Puri says.

4. Prices may increase in near future: Realty prices are down currently owing to various reasons. That, however, will not be the case forever. In fact, prices have already started rising in some markets.

“This is a good time to invest in property as the prices are already low and are only expected to increase in the coming time. Also, buyers have a variety of choices and can opt for either ready-to-move-in or properties under construction. Real estate is set to see a boom and with the implementation of RERA and GST, it is easier for buyers to make their choices and invest in property wisely,” Anupam Varshney, head (sales and marketing) at Vatika Ltd, said.

RIGHT TIME TO BUY YOUR HOME!

Harinder Dhillon, VP (sales) of DLF, says: “This is a perfect time to buy a house as the realty sector has picked up the pace in the aftermath of demonetization, GST, and RERA. Luxury market, too, is buoyed by new launches, especially in the Delhi NCR. Prices which have been stable in the last few years are unlikely to fall further. Hence, it is advisable not to postpone the decision of buying a home.”

5. Ideal time for end users: All in all, it seems to be an ideal time to purchase a house for end use, if not for investment. The market is totally buyer-friendly at the moment. If one has good financial planning and feels that the future is safe, it is the right time to purchase a house and seal the deal.

Industry experts say that home purchase must be seen as a longterm investment, and well-selected properties – those in good locations and with the right configuration and amenities – always appreciate over the long term.

It is, however, important to understand the fundamentals of location, connectivity, good amenities and legal soundness of the project, which are essential for price growth to happen.

source : TOI dated 14th April 2018

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