Ready to move Property for Sale in Yamuna Expressway Greater Noida

The development body of Yamuna Expressway had formed in September last year a panel to probe whether builders developing group housing projects in the area had willfully flouted building byelaws. According to homebuyers, developers have not followed the sanctioned building layout map approved by the development body. The alterations, accuse the buyers, have been made to gain more profits. The panel will submit its report on March 15.

Data available with PropTiger.com show rates of property in Yamuna Expressway currently stand at Rs 3,100 per square foot (psf) while average rent for a 2BHK unit is Rs 15,000 per month. As the year progresses, trends indicate, rates may again show upwards movement, something that would bring cheer to those who have already invested along the 165-km stretch of the expressway. What could trigger the possible rise in property value in this affordable region?

Causing huge traffic jams and breaking down of vehicles, Noida roads are known for all the wrong reasons. The Noida Authority, however, now plans to up its sleeves and begin the task of resurfacing the damaged roads covering 300 kilometres of area. The drive will include all the arterial corridors which experience high traffic, internal roads in the residential and industrial pockets of the town and roads which have not been repaired in the last four years. The authority is presently awarding contracts worth Rs 300 crore for the road resurfacing work which is likely to begin in a few days.

Although planned for high-speed commuting, Yamuna Expressway has now become a notorious accident-prone stretch, raising safety concerns. The media has reported several cases of traffic violations, leading to 105 and 110 accidental deaths on the expressway in 2016 and 2017, respectively.

While it has already handed over a total of 4,317 plots till October last year out of 14,453 plots that were offered under the scheme, it now plans to deliver the remaining residential plots in two tranches. The Yeida will give possession letters to 5,500 allottees of such plots by March 31, and another 4,500 possession letters will be given by June 30. The authority will waive all default interest and penalty over payments because of the possession delay – all plots were to be handed over by 2014.