Month: August 2018

About 150 farmers from eight villages in Jewar area came to the university to meet Adityanath

Uttar Pradesh Chief Minister Yogi Adityanath on Friday promised justice to the local farmers who are unhappy with the money they are getting for the land being acquired by the state government for the Jewar International Airport.

Adityanath asked the district administration here to resolve the issue and submit a report on it within eight days, Jewar MLA Dhirendra Singh said.

The chief minister gave the directions after a discussion with the farmers during a visit to the Gautam Buddha University in Greater Noida.

“I assure the farmers that they will get justice and appropriate compensation for their land. I also want to tell them not to get misled by the opposition, he said, according to a press release issued by the MLA.

The people who are opposing this on Friday are the same people who never wanted Jewar to get an airport,” the chief minister said.

About 150 farmers from eight villages in Jewar area came to the university to meet Adityanath.

The ambitious project had reportedly hit a hurdle in June following stiff resistance from the residents of these villages, which fall under its phase 1.

Much of the conflict is over the categorisation of the area as urban or rural, which determines the amount the farmers get under the land acquisition law.

The farmers reportedly want to be paid four times the circle rate. The government wants them to take just double, according to an official.

The chief minister said once the airport is operational, it will change the region’s landscape by generating employment and improve amenities for the local people.

Villagers from Dayanatpur, Ranhera, Rohi, Kishorpur, Banwaripur, Siwara, Ramner and Paarohi attended the meeting.

The UP government is to spend Rs 40 billion on land acquisition for the airport, which was scheduled to start operations in 2022-23.

About 1,441 hectares of land has been identified for the first phase of the airport project.

The Union Civil Aviation Ministry had in June said the process of land acquisition was expected to be completed in two months.

The ministry expected that bids for the Public Private Partnership (PPP) project would be invited by October and the foundation stone-laying ceremony held in December.

The state’s civil aviation department would spend Rs 15 billion, while the Noida Development Authority would provide a matching amount.

The Greater Noida Authority and the Yamuna Expressway Industrial Development Authority (YEIDA) would spend Rs 5 billion each, according to the plan.. – https://www.business-standard.com/article/current-affairs/jewar-airport-yogi-promises-fair-deal-in-land-acquisition-from-farmers-118080301433_1.html

NOIDA: The National Capital Region (NCR), led by Gurugram and Noida, accounted for a major 28% of the 24-million-square-feet office space absorbed across the country in the first half of 2018.

The Office Space Absorption report prepared by real estate researchers Colliers International indicates Gurugram, a real estate hub, recorded the biggest leap among NCR cites by absorbing 3.7million square feet — a 111% rise on a year-on-year basis over the first half of 2017. In fact, the report suggests, Gurugram’s office space absorption for this period was on a par with that of Mumbai.

Similarly, Noida registered a 100% increase in office space absorption in the first half of 2018, as compared to the corresponding period of 2017, owing to an influx of co-working spaces, along with the entry of technology companies. Colliers International’s report puts the figure at 2 million square feet, which is expected to shoot up to 3.5million square feet by the end of the year.

The 2 million square feet has largely been picked up by Landgis (Toshiba) Candor TechSpace (1,00,000 sqft along Noida Expressway), Genpact-Candor TechSpace (90,000 sqft along Noida Expressway), Syscom Solutions (90,000 sqft in commercial sectors), Insta Office (85,000 sqft in commercial sectors) and ACE Global (Arohant IT park, 80,000 sqft along Noida Expressway).

Among major occupiers, the technology sector accounted for 42% of the gross absorption, followed by the engineering and manufacturing sector at 23%, the banking and financial services and insurance sector at 15%. The report shows that there had been a dip of 13% in rental rates on a year-on-year basis in commercial sectors.

In Gurugram, technology companies accounted for 33% of the total leasing volume, followed by banking, finance and insurance companies with 27%, and flexible workspace operators with 20%.

“Gurugram has already overcome negative market perception, if any, cashing in on its corporate hub tag,” Surabh Arora, senior associate director (research), Colliers International, said.

“The reason for Noida’s sudden improvement in office space absorption is the influx of co-working spaces, along with robust road and metro railway infrastructure, which have now become primary growth drivers in the city,” Arora explained.

During the same time in 2017, the office absorption in Noida stood at 0.9 million sqft. “The office market space absorption is picking up in Noida, which is emerging as a favoured corporate and industrial destination. This is the first time when so much space has been picked up in Noida, in the past several years,” Arora further said.

“We expect the demand level to remain strong in the coming quarters, taking office-leasing activities in 2018 to the highest level of the past three years. Positive policy initiatives from the government, a robust supply pipeline and major infrastructure development are contributing to the overall performance of the office market,” Saif Lari, assistant manager, Colliers-NCR said.

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