When ready the new expressway will cut down traveling time between Delhi and Agra by at least one hour. The decision to site a new international airport at Jevar, half way between Agra and Greater Noida will help accelerate economic development of the whole region and give a big boost to tourism, according to business circles in Agra. Mayawati government’s recent decision to create a new division at Aligarh will improve administrative efficiency and many more projects in Aligarh district, including the BPO sector will come up. The Yamuna Expressway Authority has greensignalled projects for developing industrial clusters at half a dozen points.

The Jaiprakash group has already secured the contract to build a 1,047-km long expressway connecting Greater Noida to Balliya in east UP. Despite the current phase of economic slow-down, rising prices and inflationary pressures, land developers and colonisers in the whole of Agra region are hopeful of a turn around soon enough to sustain the boom in the property market. Agra’s urban profile is all set to undergo a dramatic makeover in the coming years, according to land developers.

The assessment is based on the perception that the stock market would not be able to attract new investors who are out for a quick and safe return on their savings, says Amit Kumar a financial adviser. People with surplus funds and taxable incomes have already planned buying flats in one of the upcoming complexes on Shamshabad Road, the new hub of development activity, he adds.

Fatehabad Road running parallel to Shamshabad Road south of Agra is developing as a new urban cluster with myriad residential colonies promoted by dozens of builders. Close to the Taj Mahal and in close proximity to the Agra Cantonment, the whole area is now dotted with new colonies with facilities for both segments: the Rs.10-15 lakh category and the high profile property owners wanting a quality life in the range of Rs.25 lakh and above.

Though the market is showing mixed trends at the moment, there are enough buyers in the lower segments, says Hari Om Dixit, a leading real estate developer.

"Investments are not flowing because of the high construction costs and long gestation periods, but overall the housing industry is doing well. Flats are being booked depending of course on the location and costs," Dixit adds.

Several private studies and surveys have confirmed that the Agra property market is set to grow once the civic infrastructural base is strengthened and broad-based.

Communicational advantages and proximity with Delhi have fuelled the trend in Agra, which is supported by at least 30 reputed builders. "Within the next five years you will have sprawling residential complexes and malls in all directions of the city," predicts financial planner Sudhir Gupta.

The earliest organised housing activity and development projects was initiated by the Vibhavs and later in the 1980s by the Eldeco group. Both the groups are still engaged in prestigious projects in Agra. Drive in any direction you will find new residential complexes and malls coming up. "Agra still has a lot of potential in real estate, the trend has just begun. To support the housing activity there are umpteen number of banking and financial institutions offering soft loans. Even the LIC has attractive schemes," explains Sudhir.

With migration from rural areas continuing at a brisk pace, the entry of FMCG and IT companies, the search for one's own private space has picked momentum. "In the tourism sector alone there are thousands of skilled and trained people who need houses in the coming years. Also Agra is fast turning into a retirees' final resting ground. We have seen this trend among the army officials, but now even government employees in other sectors are planning to settle down in Agra which has enough educational institutions and entertainment outlets," says industrialist RK Gupta.

Pawan of Nikhil Estates says there's no support from the government, the costs have gone up and the affordability has gone down. "But in days to come, there will be more money in the market and the property market should boom in the near future. Even today the number of inquiries have increase which means people are into planning mode. The market is set to do better in the coming days," Pawan adds.

The housing industry can do better if the government agencies like the Agra Development Authority turn friendly. Sumit Vibhav of Vibhav Builders says the land prices have definitely appreciated but the boom can come only if there is sustained infrastructural development and the new colonies are provided basic amenities.

Instead of competing with private builders the state agencies should rather concentrate on the more primary task of adding to the civic infrastructure, Sumit adds.

Housing and land development activities in Agra started late compared to other big cities, but lately the tempo has picked up and leading national players have added both an element of competition and variety of choices before the buyers who stand to gain from every angle. The Agra Development Authority has of late taken a series of measures to upgrade infrastructure and pump in more money on several developmental projects. Anuraj Srivastav, the vice chairman of ADA is keen that some roads particularly Yamuna Kinara road and the MG Road are upgraded to international standards. Anurag is also trying to introduce an efficient city bus service to connect outlying areas. The city also has a plan for a Metro type rail network.

With a gradual increase in the purchasing power of the residents and better educational standards there should be a big demand for houses. This is the guiding principle that is sustaining the real estate market in Agra.

A new trend catching the fancy of Agraites is buying road-side properties that open up on the main roads or the highways.

Two factors appear to have induced this trend, says Sanjay Place property dealer Polly Bhai. One, the security fear, given the state of law and order in the city, and the other, communicational accessibility 24x7.

Multi-storeyed apartments have come up all along the Bypass road, the national highway to Delhi, MG Road, Fatehpur Sikri road, and Fatehabad road.

Speedy transport across the city and convenient parking slots are the primary concerns of the house buyers, these days, says flat owner Amit Agarwal of Siddharth Apartments in the Civil Lines area. “Those who want to buy a flat look for locational advantage from the communication point of view, which seems practical and fair. Most city roads are choked to capacity and every day there are traffic snarls and delays consuming precious time. A flat owner of Khandari road for instance can easily cross over to the Bypass road or the MG Road the life line of the city,” Amit explains.

Kamla Nagar in Agra once used to be a posh colony, but now the trend is towards closed and insulated multi-storeyed buildings in Agra. “Gone are the days of spacious living, open spaces and lush green lawns. Like so many other big cities Agraites too are switching over to a new life style and with lots of working couples the flats alone offer them the privacy and security. Little wonder a dozen big multi-storeyed buildings are coming up on the main roads and the highways,” according to hotelier Surendra Sharma who feels a “big house is ok for a big joint family, but if the family size is small its safer and convenient to live in a flat.”

Even within the city older houses are making way for commercial complexes or residential flats. Belanganj, Bhairon, Jeoni Mandi road, Pathwari, Hospital road, are all witnessing hectic construction activity these days.

Even the Agra Development Authority has planned its most prestigious project ADA Heights in this area.

Land developers feel the Mathura to Firozabad national highway via Agra and the Taj Expressway from Greater Noida to Agra will be the future developmental hubs of West UP. The Taj Expressway Authority has already announced its plan to develop industrial clusters and commercial complexes all along the 160- kilometer stretch. “This will definitely ease a lot of pressure from Delhi,” according to a property agent Bunty.