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 Yamuna Expressway Industrial Development Authority (YEIDA) has announced the launch of a new scheme on October 9 under which they will be selling over 1000 plots near Jewar Airport. The plots will be available in various configuration and buyers will get the allotment after two years.
As per the authority officials, interested buyers can apply online for the scheme from October 11, while the brochures will be available from October 15. The plots will range between 120 and 500 square meters and they will be located in sectors 18, 19, 20, 22A, 22C and 22D.
The 30km long Noida-Greater Noida Metro Link’s trail is going to commence in April. The NMRC – Noida Metro Rail Corporation confirms the trial of this long stretch after the UPPTCL i.e the Uttar Pradesh Power Transmission Corporation Limited gave its nod for the disbursal of electricity immediately.
The trial was scheduled to start in December 2017 but got delayed due to the insufficient power supply from UPPTCL that pushed the Noida-Greater Noida Metro Rail trial for the tenure of more than three months. Mr. PD Upadhyay, Executive Director, NMRC was quoted saying, “The UPPTCL has started supplying 400KV electricity supply from its Sector 148 power substation from February 28 to the 30km Noida-Greater Noida Metro link. UPPTCL’s top officials have also conducted an inspection and written to their staff in Noida to immediately start power supply. It is good news because now, we can start trials on this Metro link in April and make way for commercial operations after completing the necessary formalities related to safety.”
In order to make a smooth coordination between the Delhi and Jewar airport, the YEIDA officials has recently finalised to appoint a firm to study ways to connect the two airports.
According to YEIDA, CEO Arun Vir Singh, “The authority will now invite companies in the first week of this month to participate in the process. A company will be selected within a month to put the study in place.”