Real estate lessons from Greater Noida where property rates don’t respond to market forces and leave housing societies looking like ghost towns

A government housing society with a single occupant.
A government housing society with a single occupant. © Pradeep Gaur/Mint

Time has stood still for the ghost housing societies of Greater Noida. Three years ago when this correspondent walked the broad roads of Sector MU-I in Greater Noida, with their lovely service road trees leading to gated communities, he had found few people actually living in the fully finished housing societies. Now in June 2018, nothing much has changed. What looks like an ideal picture perfect housing dream—villas, trees, roads, parking, community centre, parks—has one thing missing: human beings. If at dusk, the sight of the empty lightless windows gives the ghost town its name, even in the bright June day there were hardly any people in the area to point out directions.

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