Army housing in Yamuna e-way area

NOIDA: In what must be music to the ears of protest-weary defence personnel, a new housing project is going to come up for them in the Yamuna expressway area. With 470 flats, it will be the seventh project in the country to house defence veterans.

The non-profit project was announced by the Armed Forces Officers Welfare Organization (AFOWO), which builds residencies for defence personnel. A demand survey has been launched to gauge the response from the interested groups.

Amit Kumar, project manager and spokesperson, said it would be a good investment for the people concerned.

"We have just launched a demand survey for 'two-bedroom and study' and 3BHK apartments. The purpose of the survey is to provide high-quality dwelling units to its members at genuine prices which are lower than the prevailing market price," Kumar said.

"We are launching it in the Yamuna Expressway region because now is the best time to buy a house there. And for investors, good returns can be expected in the times to come," Kumar said.

"For those who bought a flat at Rs 8.20 lakh in the Armed Forces Naval Officer Enclave (AFNOE), Dwarka, Delhi, in 1998, their flats have appreciated to over Rs1.75 crore. Other projects have similarly done very well," Kumar said. More than 375 servicemen own flates in AFNOE.

The prices of the flats will range from Rs 25 lakh to Rs 45 lakh. About 80% of these flats will be reserved for armed forces personnel and 20% for select civilians.Source>>