Home | Everything | News | Diaries | Contact Qubrex +91 9811987371
The Prices Have Shot Up By Over 15 Times In Villages Such As Jevar Bangar, Nimika, Thora, Sabota ...


By Sumit Kumar, Section Greater Noida Real Estate
Posted on Tue Jan 08, 2008 at 04:33:24 AM EST

WITH THE Cabinet giving 'in principle' approval to a new airport in Greater Noida, land rates in Jevar, where the airport is proposed to be built, have shot up ten times. The airport now only requires a nod from the Group of Ministers, which would decide on the legal aspects of allowing an airport within 150 km of the Indira Gandhi International Airport.

The revival of the Taj International Aviation Hub project by Uttar Pradesh Chief Minister Mayawati soon after taking charge and the Taj Expressway Project clearing administrative bottlenecks along with the Cabinet's approval to the airport has hiked land prices in the area.

Jevar Sub-Registrar J.N. Singh said, "As the market rates were hiked considerably in the last one year, the state government hiked the circle rates effective from September 3 considerably to check the evasion of stamp duty Circle rates outside town area for agriculture land was hiked from Rs 16 lakh to Rs 40 lakh per hectare. For other land, rates were hiked from Rs 12 lakh to Rs 30 lakh and from Rs 8 lakh to Rs 20 lakh. For Jevar town area, the hike is from Rs 20 lakh to Rs 60 lakh."

"This has resulted in increased revenue collection. This year from April till December-end, revenue collection has been more than Rs 11 crore and is expected to touch Rs 15 crore by Marchend. In the last financial year, it was just Rs 6.5 crore," said Singh. Property dealer Ulkesh Bharti said, "Before the announcement of the airport project a year ago, agriculture land rates were between Rs 25,000 and Rs 50,000. Today the rates range between Rs 3 lakh and Rs 7 lakh depending on the location of the land. Work on the Taj Expressway project too hiked the rates."

"The vaages around the airport site such as Ranera, Rohi, Kishorepur, Banwaribans and Pirthali Sivala have witnessed a steep hike. Villages such as Jevar Bangat: Nimika, Thora, Sabota, Dayanatpur, which fall in the Taj Expressway and airport project areas, have witnessed a hike of over 15 times," said Bharti.

"The airport will be spread over 2,314 hectares. A passenger and cargo terminal has been planned at the aviation hub. A training institution for air hostesses and pilots too has been planned in the hub. For stay of passengers, hotels and rest houses too have been planned," said an authority official.

"Land Acquisition, payment of compensation and rehabilitation of the affected families will be done by the state government on priority basis and work at the project would start soon upon approval from the Center. The land acquisition process is already on. The project would be executed on a private epublic participation basis," he added.

Source: Hindustan Times January-08-2008

< Affordable Housing For Everyone | Atharva by Raheja Builders in Sector 109 of Gurgaon - A Video Report by Qubrex Properties >

Login

Make a new account

Username:
Password:

Related Links

. Noida
. Also by Sumit Kumar
Display: Sort:
The Prices Have Shot Up By Over 15 Times In Villages Such As Jevar Bangar, Nimika, Thora, Sabota ... | 0 comments (0 topical, 0 hidden)
Display: Sort:
create account | faq | search