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.
Country’s first woman Finance Minister has presented her maiden budget on July 5 and the real estate sector which has lots of expectations with her has got many announcements to cheer. Starting from rental housing to affordable housing and tax benefits to better infrastructure, here are some of the key highlights that are going to add feathers to the real estate market of India:
The Delhi Development Authority (DDA) has launched the first phase of the ambitious Housing scheme for the year 2019 recently. The Authority has decided to sell a total of 1250 flats in the first phase and on a first-come-first-serve basis. These flats are situated in Ramnagar Colony, Narela and Seersapur. According to the latest news report, 700 flats already booked by prospective homebuyers within 24 hours of the launch.
Anita Meshram, the divisional commissioner informed that the district administration will commence land acquisition for Jewar Airport by January-end. The authority will acquire acquiring 1,334 hectares land for the proposed airport.
She further said that the administration already sent its report on the land to the Yogi Adityanath-led Uttar Pradesh State Government. This report is sent under Section 19 of the Land Acquisition Act and the same will come into action once the notification for land acquisition is issued by the Government.
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.