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 a result Real estate experts in the Noida region are under pressure now.
After the results to the five state elections were announced, Experts said that 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.
So, now Lucknow may well become the new real estate capital of Uttar Pradesh under the Samajwadi Party’s rule in the state.
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”.
Due to this shifted focus, even the small developers in Lucknow will benefit.
