Greater Noida: The impact of Bhatta Parsaul incident has been looming large on people as the market rates of properties have taken a tumbling in the past few days.

According to experts, market rate (premium) of the plots of Yamuna Expressway Authority has come down by Rs 1,500 to 2,000 per square metre.

People, who were searching for plots in Yamuna city, are now preferring to find a home in Noida or Greater Noida. On the other end, investors too want to invest in places which are free of controversy. 

The internal development work of Yamuna City and the construction of Expressway have closed after the scuffle between police and farmers in Bhatta Parsaul on May 7.

Property dealers have maintained that people are calling up frequently to sell off their property in the area, and no one has expressed the desire to purchase plot in the disputed area.

Real estate agents Sunil Goel, Pushpendra Goel, Deviram and Subhas Bhati said before the violence, premium of plots of 300 to 500 Sq mt in Yamuna City had reached to Rs 7,000 to 8000 per Sq mt.

People are willing to sell allotted plots at Rs 5500 to 6000 per square metre. However despite the lowered price, no purchaser has turned up in the last 15 days.

The Authority has changed the location of over 400 plots in sector 18 and 20 as villages are adjacent to these sectors.
Deputy General Manager of Authority, Meena Bhargava said that location of only those plots have been changed which are near the villages. She added, “The area of villages has expanded due to increasing population of farmers, therefore the locations of few plots have been changed.”

JPN/Bureau