Central govt shelves Jamshedpur Airport Project

Mail News Service

Jamshedpur, March 2: Shelving of the Dhalbhumgarh Airport Project by the Central government has left thousands of investors in the lurch. When the Airport project was announced, many investors had taken it as an opportunity to invest money in land and real estate around the Airport site. Many local farmers sold their land to investors and got good bargain for the deal. Buoyed by the announcement of the project, an airport colony was also set up and named here. Plots were demarcated and sold around the proposed airport area. A colony was also set up one km away westward from Dhalbhumgarh police station. People from Chakulia, Ghatsila, Jamshedpur and other places came here and bought land in hoards. The rush to purchase land led to spiraling of its cost in a small span. But the news of the project’s closure has poured cold water on the dreams and aspirations of investors as land prices have started plummeting, sources said.