Rates to take a step down alongside Noida expressway

In the NCR region, that is subtly attached to the capital region of India, Delhi there extends two expressways that are built to let the residents enjoy the great community and work from far off places while travelling through these roads. The eastern region has been accurately acquired by the 22km long through Noida and Greater Noida. The other one runs for 18km in the regions of Dwarka.

All these expressways are developed to join the regions of Delhi NCR in a better way providing the areas extending adjacent to them to the real estate developers to create more and more property in Noida and in Dwarka.

These lands were also supposed to be given to the developers who want to build commercial spaces and give away office for rent in Noida, Greater Noida, Dwarka, and Gurugram. This, however, made both the regions a large hub for the working class people who migrated here from all over the country. This gave a major boost to all the realty developers to build more and more residential complexes.

As soon as the areas were changing into residential complexes, the southern areas started to experience water and sewage problems. Developers were unable to provide their residents with the daily needs. However, the eastern region thoroughly enjoyed the regular facilities of water and sewage but could not gather proper funds. These developers tracked the funds from the farmers and this became a major reason to manage all the funds and thus fulfil the increasing demands of people. Also, after the demonetization process, those launched flats which were left in the middle of the construction period were unable to be delivered on the expected date of delivery. One Unitech project called Grande, located in Greater Noida was launched in 2007 and even after 10 years, it could not be completed due to inappropriate funds. Now as the government orders all the realty developers to increase the supply, these well-built flats would be sold at much lesser prices given its history of in accomplishment. These flats are built along with the Yamuna Expressway and were targeted towards those who wanted to have the luxury as they were built across an 18 hole golf course.

Due to these reasons and the post demonetisation effect where people just stopped thinking of following their dreams and the wish to buy a house vanished all of a sudden, lowering the rates seemed to be the only option. These low rates would fill the empty flats and would decrease the number of new flats that were to be constructed to meet the demands after the Union Budget of 2017.

Greater Noida real estate to work more on affordable housing

The Real Estate’s new Union bill spells happiness for Greater Noida homebuyers, as the recently rectified budget will give more powers to those who want to buy plots in Greater Noida and will also keep in mind the concerns of the builders to a major extent. The Real Estate Regulatory Bill directly aims at bringing transparency in the real estate sector. However, the announcements were being planned from a long time but the finance minister made the right time to announce all of it with the Union Budget of 2017. However, after demonetisation, this area has more supply for residential units and less investors but after the affordable housing schemes it is turning out to be the opposite. Most of the housing units sold in Greater Noida now have a lot of takers but have less supply. Therefore, after taking some major steps a mega plan has finally been sorted out to cater affordable housing for all till 2022.
The budget is expected to establish state level regulatory authorities RERAs with whom developers have to register projects above a certain size. If this will not be carried out, the builders will have to pay major fines. The developers will now state all facts like possession dates, construction quality facts public on their websites so as to give clearer picture. The developers will have to focus more and more on the affordable housing. They will now be providing 3bhk flats in the price of 2bhk.
All these new rules are expected to set transparency in greater Noida properties. The Big Impact is that this will prompt homebuyers to purchase property without the fear of being cheated. This will bring in more creditability to investors and the belief to invest in the real estate sector. This will also give a clear legal recourse in case of any dispute or delay in the construction.
This has helped people who were interested in buying in Greater Noida as with this law the problems of the dust made by demonetisation will settle down and more over the development which tends to cater the needs which was stalled for a long time is finally getting its breath back. This is helping the Greater Noida real estate sector to become more transparent and the work has finally resumed and the building which were left unreconstructed the last quarter, are now coming to an end to supply its consumers their dream home.

Regular efforts for affordable housing for all

Metropolises such as Noida are under scrutiny and major comprehensive plans are being drawn to build better infrastructure. The Centre is facilitating adequate amount of funds for urban local bodies in states to make cities more liveable by providing them more and more properties in Noida. “We are taking into account the, roads, water supply etc. and creating a major five-year development plan,” Naidu said while talking about Bengaluru, Pune and Noida cities. He stated that more and more 1bhk flats in Noida will be created so as to provide the urban localities the desired liveable surroundings.

State participation is the major key to achieving adequate infrastructure and it is therefore the essence of realising the ‘Housing for All 2022’ dream. Affordable housing will be a success only when these type of states perform. Around 23,000 houses still lie vacant in Delhi alone because of lack of infrastructure and therefore their buyers. “Where there are people there is a shortage of houses and now there are houses but nobody interested to reside in them. It is proving to be a grave problem,” said Naidu. The main infrastructure concerns that needs to be seriously looked after are drainage, sewage, main roads, byroads, rain water drainage, maintenance of water bodies, etc.
It is now supposed to be joint effort by the Centre, states and local bodies. People only set their keen eyes on better quality and good services. If the states can figure out a method to provide the correct measurements then there’s no going back. “They should try and study the development patterns of several states. Learn from other’s mistakes,” suggested Naidu.

Amrapali Dream Valley project’s action against MD

Homebuyers of Amrapali Dream Valley project have written a letter to the Prime Minister’s Office seeking the permission for impounding of the passport of Amrapali MD Anil Sharma.

The buyers are in a fear that Sharma may try to leave the country as the project is far from complete. Amrapali is one of top investors who is in debt of owing huge amount of money to Noida and Greater Noida authorities. Most of its projects are sold but is far from construction.

In a letter of appeal to Prime Minister Narendra Modi submitted on February 22, Dream Valley buyers have requested that impoertant measures should be taken to safeguard the interests of buyers who have deeply invested in Amrapali.

Meanwhile, the Noida homebuyers’ association on Thursday demanded explanation from the Noida Real estate authority on lack of investigation on their part and keeping a check on defaulting builders. They wrote a letter  seeking answers from the GNIDA, Nefowa referred to therecent arrest of Earth Infrastructure owner Avdesh Goel by the Delhi Police in response to complaints by the Economic Offences Wing. Goel was arrested on February 20 on the basis of complaints by investors in Amrapali.

Malls in India: Shopping, entertainment every thing

 

mallsMall are being constructed and designed as modern shopping complexes keeping focus on residents in the new luxurious housing units in Metro cities and in other urban centers also in India.

The malls accommodate every thing from retail chains to eating joints to entertainment zones. A customer can expect any to get every range of products including domestic and foreign brands.

There is a lot of scope for new malls in urban India, as the mall culture has been accepted by open hands by the Indians. The retail industry is only 4 pc in the mall and is expected to raise 30 pc in few years.

Top real estate developers have already launched several projects in the NCR region, which are attracting huge footfalls. According to a survey the ideal per capita mall space in India’s top urban centers is about 1.5 sq ft per person, but this can vary from city to city.

With an estimated urban population of 30 million people, one of the hottest markets the Delhi-NCR market can absorb more in it. With the rise in demand the average size of malls in India has increase as the developers are focusing on larger spaces. It is estimated that a large mall average size is 4,50,000 sq ft.

The larger mall allows the tenant to mix the various formats, and with the introduction of multi-brand the size needs to be larger as most of the areas are occupied by the foreign retailers.

The wave group and the DLF are going to open new malls in sector 18, Noida very soon. The malls will give a blend of entrainment and shopping with possible all the amenities. The Wage grup is alos plnning to extend arms in Tier-II cities in India.

Noida flat buyers stumble at Registration hurdles

Noida and Greater Noida development authorities have warned the default developers. The authorities have asked them to pay the due amount or to be ready for facing severe actions from the part of authority.
Home buyers are affected by the new decision of  Noida Authorities not to sanction the layout plans of default developers.

Home buyers are affected by the new decision of Noida Authorities not to sanction the layout plans of default developers.

It seems there is no end for flat buyers in Noida and Greater Noida. The latest registration hurdles has become a pouring of oil to their already- burning issues.

Those builders who have due-payments will not be allowed to register flats in the name of flat buyers. As a result those who have booked flats in Noida and Greater Noida will be troubled.

According to the latest reports, available with the authority, the government has lost Rs.4000 Cr in the form of default payment. Around sixty developers have not paid back the due amount.

Speaking on the issue Mr. H K Verma, additional CEO at Greater Noida Authority, said that the authority will not issue completion certificate to the default developers. He added that layout plans also will not be approved.

Around sixty builders are to pay the two authorities Rs.6000 Cr. The list contains some of the top and well renowned developers.

Noida flat buyers see no rays of hope ahead.

Noida flat buyers see no ready to-move-in home ahead, but barren land.

Mr. Verma informed that the authority is forced to take such harsh stand. It has to find sufficient fund for compensating the farmers. On the other side the Authorities are facing a severe financial crunch now.

Considering the problems of the flat buyers, the Authorities were thinking of not passing any such orders. However now they have no option to tackle the situation in which the Authorities are to pay huge amounts to the farmers as compensation.

Several notices were issued to the default developers. However the builders did not take any action or take the notices seriously. This prompted the Authorities to take tougher stand against these builders. Whatsoever, always the burden is upon the poor home buyers. Their wait to own their dream homes seems to get longer with this new issue.

Noida – Greater Noida Metro Link Details Announced

Noida Authority, while announcing the details of proposed metro link between Noida and Greater Noida on last Friday, revealed that two more metro stations are added.
Noida metro link details announced

Noida metro link details are announced by the Authority.

While announcing the details of the proposed Noida – Greater Noida metro link, the officials said that two more stations are added in the proposed  metro line. The officials said that the population is increasing in the areas of Greater Noida and on the Expressway. Considering this growing population the Authority has decided to add two more stations in the line.

As per the available sources, the proposed 29.707 km long metro line will have 22 metro stations. The metro line will be passing through Noida Sectors – 32, 51, 83, 101, 143, 147, Alpha and Delta, Knowledge Park 2 and Pari Chowk. Continue reading

Real estate in Ghaziabad is Growing Faster Compared To Noida

With the improvement in infrastructure, facilities and connectivity, real estate in Ghaziabad is growing faster compared to Noida.
Ghaziabad real estate

Ghaziabad real estate will thrive as the city achieves  better development.

Real estate in Ghaziabad is on the verge to become a hot real estate destination in around 5 years’ time as compared to Noida. Yet one should notice that Noida has achieved a level of growth in a quicker span.

Earlier if the real estate builders avoided Ghaziabad real estate due to its weaker development, the current situation shows that they are keen to build up projects in Ghaziabad. Due to the steady improvement, the city seems to be competent to Noida real estate. Ghaziabad might now obviously hold better investment chances than Noida. Continue reading

Real Estate Scam Worth Rs.3800 Cr Unearthed In Noida

Noida Authority has unearthed Real estate scam worth Rs.3800 Cr in Noida. The real estate scam occurred in 2011.
real estate scam shakes Noida

Real estate scam strikes Noida again.

Noida real estate is shocked as the Noida Authority unearthed a bigger real estate scam. The scam occurred while BSP was ruling the state. The BSP government had leased three lakh 81 thousand sq. m. land to three private companies and some individuals.

Noida Authority has already removed Nayab Tehsildar. Further, the authority has demanded the suspension of Noida’s additional district magistrate (land). Noida Authority is to file FIR against them. The investigation against them started soon after the BSP lost its reign. Real estate land scam took place in the year 2011.

Sources close to Noida Authority reveal that the scam involves three officials of higher grade. They are Harish Chandar, a PCS officer who was posted as secretary, Tahsildar Ajay Shrivastav and Nayab Tahsildar Manoj Kumar Singh. Continue reading

Migrant Real Estate Laborers Are Exploited: Say Reports

Real estate is in high demand for construction laborers. Labor shortage in the real estate sector creates higher trouble to the real estate developers.

Real estate developers find it difficult to finish their projects on time without having sufficient laborers.  The real estate sector has become the second best employment -provider in India after the Information Technology. However some reports say that a few real estate developers offers cash advances to the laborers for getting them on to the work site. Continue reading

Real Estate Hyderabad to Get 75-Crore Township by PRIL

Patel Realty India Limited (PRIL), a subsidiary firm of Patel Engineering, is all set to invest 75-Crore in two real estate townships in Hyderabad.

Hyderabad Real Estate to Get Smondo From Patel Group

Hyderabad Real Estate to Get Luxury Oriented Smondo From Patel Group (Image Source )

Mumbai-based Patel Engineering Limited plans to invest 75-Crore in two real estate township projects in Hyderabad. The Mumbai-based construction firm is  specialized in hydropower generation and irrigation. Continue reading

SRK Gets New Endorsement from Real Estate Firm

Shahrukh Khan –widely known as SRK got a new endorsement from Mahagun an NCR based real estate developer group.

SRK Gets New Endorsement from Real Estate Firm

Badshah of Bollywood Gets New Endorsement from Real Estate Firm (Image Sr.- flicker)

Endorsements always act as Extra Avenue of income for most of the Bollywood stars other than acting in films. Most of these endorsement deals bring a huge amount into their bank accounts. The rate of amount varies according to the rating of the star. Normally bigger stars get bigger amounts and it comes down in the order of hierarchy.

Latest of all Bollywood star endorsements is the SRK’s endorsement with an NCR based real estate developers Mahagun. Continue reading

Real Estate Indirectly Supports Illegal Sand Mining in Noida

Sand being one of the essential elements which determine the overall cost of production is illegally mined at higher level. Real estate constructions in Noida now depend highly on this illegal sand mining .

Illegal Sand Mining in India

Illegal Sand Mining in India causes environment troubles.

High pace developments taking place in the real estate industry causes high level land looting and illegal sand mining in Noida. Illegally mined sand is carried on to the construction sites on tractors. This has become a very common sight these days in Noida and Noida Extension.    Continue reading

Noida Real Estate Relaxes As Farmers Call Off Strike

Noida real estate builders can now resume their halted work as farmers call off strike.

Farmers' Plea Authority Hears

Farmers’ Plea Authority Hears

Noida real estate builders had a deep breath as the Noida farmers have called off their strike. Earlier farmers had blocked the construction of many residential projects in Noida and Noida Extension. Continue reading

Noida to Receive 300 M. Tall Brys Residential Tower

Brys Group announced their plan to begin the construction of 300 m. tall Brys Tower Noida in January 2013.

Noida real estate gets another tall residential project with the launch of Brys Tower. This is an indication to the growing land deficiency in Noida.

Brys Tower Noida

Brys Tower Noida

Brys Group one of the leading Delhi-based real estate developers, announced their plan to launch a residential tower of 300 meter in Noida. This can be considered as a sign of growth of Noida real estate. Noida real estate is now faces shortage of land for bigger residential projects. Launch of Brys Tower announces the arrival of new Noida residential projects with another standard. Continue reading

Labor Shortage Strikes Residential Real Estate Projects

labour shortage

labour shortage hits real estate India.

The severe labor shortage is alarming the real estate builders. Most of the housing projects are not yet completed due to labor shortage. Recently there has been a tremendous increase in labor shortage. Continue reading

Allahabad H.C. Stays Some Noida Real Estate Projects

Halted Noida Real Estate

Halted Noida Real Estate

Noida real estate construction particularly some residential projects, received a stay from the Allahabad high court. Considering the petition of over fifty farmers from Sarfabad village, a neighboring village of Noida Allahabad high court gave the verdict. As per the stay residential projects which spread over six hectares of land in Noida Sectors 120 and 75 will be standing still. Continue reading

Suburbs Become New Paradise for Real Estate Investment

Real estate investment has greater scope in the suburbs is clearly shown by the growth of Gurgaon and Noida. Recent trends show that the suburbs are more preferred to Metropolitans for Real estate investment. This is due to the change of attitude of the people and their living conditions. Comparing to the earlier days now even the wealthiest class people are ready to relocate and live in the suburbs. The upcoming “millions worth Luxurious apartments” are all built for this class of people. Suburbs remain the best place for real estate investment. If Real estate investment is a wise decision then Real estate investment in suburbs is wiser. Continue reading

Noida Turns Out to Be Investors’ Paradise

Noida seems to be affordable only for the elite group and the millionaires, why so? Why the realty developers construct more luxurious homes? How the normal people are affected? An analysis is done here. Growth is good in all the ways. But the growth should never be concentrated on a particular class or section of the people. It must include all the sections. The upcoming projects in Noida show that the city has become a hub for the rich and wealthy class. Noida, the hotspot of realty firms, has emerged as a “Millionaire Diva”. Continue reading

Unitech comes up with Gardens Galleria in Noida.

Unitech, one of the India’s leading integrated developers of large-scale real estate projects, has launched Gardens Galleria in Noida. It is part of Unitech’s existing 147 acres entertainment-cum-retail destination in Noida.
Gardens Galleria, designed by US-based firm Callihon, is spread over 8.36 acres, is strategically positioned adjacent to sector -18, Noida and Film City. It is minutes away from ITO, East Delhi, South Delhi, and Noida Expressway. The project is in the midst of established residential areas, offices, colleges and other commercial towers.

The destination already comprises of an international standard themed amusement park Worlds of Wonder and The Great India Place, a shopping mall. The mall, a combination of entertainment, retail and hospitality, in Noida will comprise of hyper market, departmental stores, international shops, spa, gymnasium, banks, ATMs, food and fun joints. The project comprises 230 retail outlets and there is also parking facility for 8,500 cars. Unitech has already got over 10 lakh patrons a month in its three operational malls the Metro Walk in New Delhi, Great India Place in Noida and Gurgaon Central.

Commenting on the launch, Munish Baldev, head-retail of Unitech said, “We are happy to launch Gardens Galleria in Noida. Unitech has already developed 1.3 million sq ft of mall area in New Delhi, Noida and Gurgaon since 2006, and is developing another 4 million sq ft of retail space in cities such as Kochi, Gurgaon, Bangalore, Lucknow, Mohali, Bhopal, Bhub­aneswar, and Dehradun. We have always been bullish about the retail development space and have been developing the shopping malls as per our business plan. We have been getting strong traction from retailers for leasing of the mall-space under development.”

Genesis Luxury, Genesis Lifest­yle, French Connection, Nautica, Louis Philippe, Van Heusen, Calvin Klein are among some of the major brands who have their stores in Galleria. The company is also developing another 4 million sq ft of retail space in cities such as Kochi, Bhopal, Bhubaneswar, Bangalore, Dehradun, Mohali, Lucknow, and Gurgaon in the next 4-5 years.

Two Indian Real Estate Deals in Asian Top Ten list.

Two real estate deals in India — the sale of Leela Kempinski Kovalam and Noida’s deal with Wave Mega City Centre – have been ranked among the top ten in their categories across Asia according to a recently published study by Real Capital. Both deals took place in August 2011.

Real Capital tracks and analyses real estate deals worth over $10 million across apartments, hotels, retail, industrial, office and development projects over the world. The Purchase of Leela Kovalam by Saudi Arabia-based industrialist Ravi Pillai, which was pegged at about Rs 500 crore ranked 10th in Asia-list of largest hotel sellers.

Bangalore and Mumbai have been named among the most active Asian markets in the office space.

Delhi was ranked sixth and Mumbai eighth in the most active Asian apartment markets. Tokyo tops the list followed by Singapore, Hong Kong, Osaka and Beijing. While Chennai comes in at eighth position among active hotel markets, India did not rank in the big league when it comes to retail deals.

Buyers back in Real Estate Sector this Navaratra.

Buyers are back in the realty market this Navaratra, lending credence to this festive season’s reputation as a golden period for business in this sector.

There is flurry of activity in the offices of realty firms as buyers are coming out to seal deals. The mood is likely to remain upbeat till the end of summer vacation of schools.

“I am sure that this positive momentum in the market will continue till summer vacation when even more end users are likely to clinch deals,” Samir Jasuja, the chairman and managing director of Prop Equity, says.

“After Navaratra, summer vacation in schools is regarded a good time for realty, as people wait for the end of term of their children to shift houses or buy one. The summer is a time of transfers and relocation; a time of school admissions and hunting for a house near schools, so that children can have an easy commute,” Jasuja says.

Gaurav Mittal, the managing director of CHD Developers, says: “The mood is really upbeat in the market with people finalizing deals in property. While market warms up during Navaratras even during bad times, this Navaratra is different. The quantum of deals is unexpected, though a welcome development.”

Jasuja says, “Notwithstanding a slew of legal battles, buyers are taking a final call on their new purchases in Noida and Greater Noida.” A report of Prop Equity says that the current financial year has proved to be good for almost all the big cities of the NCR including, Noida, Gurgaon, Ghaziabad, Greater Noida and Faridabad.

Sanjay Khanna, the director of Kailash Nath Developers Pvt Ltd, says: “I hope the worst is over for realty market and transactions take place till the end of summer vacation in schools. This Navaratra is proving to be very auspicious for the realty world. I know that NRIs, too, find the summer months an ideal time to return to their roots in order to buy property. Their search for a property also starts during the summer. This is the time when they visit India in order to meet their relatives and, side by side, also look for nice properties. They do not mind paying slightly more for good properties.”

Realty watchers say that April-June period records a high quantum of property transactions. Realty market picks pace from Navaratras. This is a time when end users finalize their deals and those looking for new homes on rent, also shift. The summer is also a time when the resale market picks up nicely.

Vijay Jindal, the chairman and managing director of SVP group, says: “It is a hectic period from Navaratra and through the summer months. A lot of transactions take place at all levels.” He says that during the summer, buyers give priority to those projects which are close to good schools.

Gulshan Homz : Press Release

Gulshan Homz, part of the GC Group of companies, has announced the launch of its new residential project:  Gulshan Ikebana at Sector 143B, Noida Expressway spread over 12.5 acres land with apartments of sizes 1400 sqft (3BHK) to 2300 sqft (4BHK+Study) and offers a sleek, infinitely flexible, multi-dimensional and open life and is well conceptualised for quintessential living. Ikebana is designed keeping all the modern needs, indulgences and luxuries in mind so one would enjoy excellent location advantage with lust green surrounding and seamless connectivity which will offer natural retreat and also excellent metropolitan convenience and vibrance.

Amenities:-

  • Water softener plant, Bus shelter
  • Club, Karaoke theme Restaurant
  • Internet Connectivity,24 x 7 Security
  • Intercom Connectivity, Customer Care Centre
  • Rain Water Harvesting, Water Softener Plant
  • Swimming pool, Steam/Sauna/ Massage Rooms
  • Yoga Centre, Indoor Games
  • Jogging Track, Badminton
  • Basketball Court ( Half Court), AC Gymnasium
  • Special Play-pan for kids, Immaculate Landscaping
  • Aerobic Dance Floor, Coffee Shop
  • AC Unisex Beauty Salon, AC Banquet / Party Hall / Guest Lounge
  • Business Lounge, Laundry Services
  • Cabs on call, Amphitheatre
  • Kids Lounge, Regular in- Compound OPD
  • Ambulance on Call, Doctor on Call
  • Stretcher Lifts, Wheel chair for Elderly and sick

About the Developer:

Gulshan Homz has constructed luxurious living spaces and the Group has improvised its skills over the years to launch a number of premium projects. They have stamped a mark of excellence in luxury Real estate developer with honest morale, integrity, sound business ethics, transparency and invaluable experience. With a vision to pass on a green environment and prosperous cities to the future generations they look forward to developing luxurious real estate options.

Gulshan Homz Launches New Project “Gulshan Ikebana” At Sector -143, Noida

Gulshan Homz, part of the GC Group of companies, has announced the launch of its new residential project: Gulshan Ikebana at Sector 143B, Noida Expressway. Spread over 12.5 acres, Gulshan Ikebana will host luxurious high rise apartments of sizes 1400 sqft (3BHK) to 2300 sqft (4BHK+Study). Highlights of the project are:

  • Gated Community with 24×7 Security Access-controlled entry and exits
  • Convenient Shopping Complex
  • Landscaped Parks and Playgrounds
  • Sewage treatment
  • Rain Water Harvesting & all other amenities
  • Proper boundary wall around the periphery
  • In premise maintenance services
  • 24×7 Power Backup
  • 24X7 Water Supply
  • Landscaped Greens
  • Exclusive Recreational Facility
  • Community Shopping
  • Healthcare Centre
  • Sauna /Steam
  • Badminton Court
  • Swimming Pool
  • Basket Ball Court
  • Massage Room
  • Gymnasium
  • Wheel Chair Ramp for Elderly /Sick
  • Jogging Track
  • Baby Day Care Centre
  • Indoor Games Facility

More details of Gulshan Homz Ikbana are available at gulshanikebana.propertywala.com

After Noida Lucknow to have the Realty Focus.

Real estate gurus in the Noida region are worried a lot on Tuesday. Mega projects such as construction of the Formula 1 motor racing track were possible due to considerable political backing during the Bahujan Samaj Party (BSP) regime. However, farmers, caught in the recent land acquisition row in the same area are rejoicing after the UP election result.

As Noida and Greater Noida, next to Delhi, had gained in prominence under Mayawati as the UP chief minister, Lucknow would get the same treatment now, experts said after the results to the five state elections were announced.

So, now Lucknow may well become the new real estate capital of Uttar Pradesh under the Samajwadi Party’s rule in the state, as a result of clear shift from Noida at present.

Sanjay Sharma of Qubrex, referred to industrialist Subrata Roy’s close associations with the SP. “They (Sahara) would gain. Sahara has Sahara City Homes in Lucknow and various places in Uttar Pradesh. He also said that “They have acquired a lot of land in UP”.

As a result, even the small developers in Lucknow will benefit from this shifted focus.