[ecis2016.org] The Noida-Greater Noida Expressway has turned almost 20 unknown sectors of the city, into real estate hotspots
The 24-km-long Noida-Greater Noida Expressway, is a case study on how an infrastructure project can improve the brand positioning of a given market. It has turned around 20 nondescript sectors of the city, into property hotspots. Moreover, the Expressway has transformed the region – from an affordable destination, to a mid-segment and high-end residential zone.
You are reading: Noida-Greater Noida Expressway: Creating new property destinations
Since its inauguration in 2002, numerous residential complexes have come up on both sides of the Expressway, offering properties that the affordable market of Noida had not been witness to, earlier. What is most significant, is the fact that the Noida-Greater Noida Expressway, has catalysed economic activity in the region, with the corporate sector making a beeline for this stretch. Spotting the opportunity, several industrial houses and foreign establishments have made their presence felt along the Expressway. In the process, it has fuelled demand in the area, for luxury hotels, restaurants, shopping arcades and departmental stores.
Acting as a catalyst
The Expressway has been the catalyst behind the rise of affluent residential sectors (from 129 to 150), having robust social infrastructure and well-planned internal connectivity. More importantly, these locations do not fall under the category of ‘affordable’, as most of the projects here are premium townships. Right from Sports City to Golf Course and theme-based projects, to the tallest residential luxury apartment of Delhi-NCR, the region along the Expressway has seen a sea change, in terms of facilities, infrastructure and connectivity.
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The 24.53-km-long, six-lane Noida-Greater Noida Expressway, which connects Delhi with the two suburbs of Noida and Greater Noida, was built to ease congestion on National Highway 2. The Noida-Greater Noida Expressway also connects to the Yamuna Expressway, which connects Greater Noida to Agra.
The Expressway, hence, has been the lifeline for the rise and growth of the real estate sector in the region. Dhiaj Jain, director of Mahagun, points out that properties along the Noida Expressway have a location advantage, along with the basic amenities that any investor looks for, before investing. This place has excellent connectivity with central Delhi, which has bolstered its growth.
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“The region also has many knowledge parks, special economic zones and IT hubs and corporate giants like TCS, Birla Soft, Adobe and KPMG, have set up their offices here and employ lakhs of people. Moreover, this market has a plethora of options – from affordable housing to penthouses, and premium villas, along with competitive pricing for the investors,” says Jain.
Balanced development
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RK Arora, CMD of Supertech maintains that the availability of large land parcels around the Expressway, makes it an attractive proposition, not only for the developers but also for business establishments. IT companies and the educational institutions were the first to come up and developments have been taking place at a rapid pace.
“It may be just 23 kms but the Noida Master Plan 2021, has been methodical in spreading it out over 40 sectors, so that there is balanced development amidst growing population. Moreover, most of the sectors are closer to Delhi, as only three kms of the Expressway falls in Greater Noida, while the remaining 20 kms fall in Noida,” says Arora.
Most of the new launches in the last year in Noida, have been in the sectors connected with the Expressway. The sectors along the Expressway, are no longer seen as destinations that merely fulfil the residential needs of the working class of Delhi. Rather, the regions along the Expressway have emerged as self-sustained residential zones for the upwardly mobile and aspiring home seekers, for whom buying an affordable property in Noida does not mean a compromised housing solution.
(The writer is CEO, Track2Realty)
Source: https://ecis2016.org/.
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Source: https://ecis2016.org
Category: Lifestyle
