Power Crises In Uttar Pradesh A Threat For Commercial Property In Noida

Business areas experienced failures of more than 16 hours a day last week even after energy from the Northern Grid were renewed

. Industrialists grumble that lack of sufficient energy has not only pressured them to terminate future purchases but has also led to smaller profits making them unable to pay off loans.

These streams of events have in turn taken a toll on the property in Noida especially commercial property in Noida. Commercial property in Noida bears the maximum brunt because power cuts majorly affect the production and functioning of these Corporate houses or industries.

Even though there is a grid for providing energy to areas, several areas are only provided power for 4-5 hours a day, said chief executive of Noida Entrepreneurs Organization, Vipin Malhan. If areas continue to suffer failures, we will have no alternative but to move base to nearby states which make sure sufficient energy, added Malhan.

The serious energy crises have pressured industrialists to write to Samajwadi Party supremo Mulayam Singh Yadav challenging his involvement to end the problems. Industrialists have reported that they are compelled to pay set charges to the energy submission companies to utilize relationships, regardless of whether or not they are provided energy. Over 90% of industrialists in the city have acquired of loans to set up areas. With no development, it has now become difficult for us to pay off these loans, said Malhan.

Even after recovery of provide from the North Lines, Paschimanchal Vidyut Vitaran Nigam Limited is yet to make sure round-the-clock energy to areas. The discom had informed that areas would get 12-hour energy from Aug 5-15. However, Lucknow requested us to increase provide to 16 time on Aug 6, said CL Gupta, superintending professional of PVVNL.

Though the power shortage but it is also a known fact that Noida enjoys the maximum inflow of new industries and corporate houses and it will remain the same. The reason behind this being Noida is a place still having a potential to grow par excellence, another assurance being the ongoing talks between the UP government and the Uttarakhand Govt. to overcome this problem. The main barricade in front of the upheaval of commercial property in Noida is that these talks are taking more time than it was ever thought of. Still the chances are that proper care will be taken of the proposition and the commercial property in Noida will be revived.

by: Rahul Chauhan

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