Housing demand and prices may rise in Noida as well as Greater Noida with the launch of a new metro rail service, linking the twin-cities in western Uttar Pradesh, according to real estate developers and consultants. The new metro rail service, called Aqua line, runs through 21 stations — 15 of them in Noida and six in Greater Noida — and covers a distance of 29.7 km.
“The upgrading of infrastructure due to metro connectivity is expected to help in spurring the demand for residential units in the region. Also, it is expected to have positive fallout on the commercial and retail segment as well,” says Abhinav Joshi, Head of Research for CBRE India.
In the past also, Joshi said, metro lines have played a crucial role in uplifting the real estate profile of areas that it connects.
“Commutation will become easier from places like Noida Extension too. The market works on sentiment, and the sentiment is positive in the real estate sector,” said Prashant Tiwari, President of CREDAI western UP.
With improved infrastructure, he expects demand and rates for properties in Noida and Greater Noida region to get a big boost.
The new metro line has provided a great relief to home-buyers of this area.
Read More: https://economictimes.indiatimes.com/industry/services/property-/-cstruction/new-metro-rail-line-to-boost-housing-demand-in-noida-greater-noida/articleshow/67721152.cms
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Greater Noida Authority Approves Phase 2 of Aqua Line
The Aqua Line extension will comprise nine stations, officials said.
This news would bring cheer to residents of Greater Noida West. The Greater Noida Industrial Development Authority (GNIDA) on December 4 approved the second phase of the Metro link from Noida Sector 71 to Knowledge Park 5 in Greater Noida. The extension will comprise nine stations and cost Rs 2602 crore, top officials said.
This decision was taken at the Authority’s 113th board meeting. “NMRC would be the nodal agency for the project. The first phase of the Metro project comprising five stations from Noida Sector 71 to Greater Noida Sector 2 is expected to cost around Rs 1521 crore, officials said.
“The modalities and details on the DPR would be given later,” Chief secretary AC Pandey was quoted as saying.
The extended line of Noida Metro’s Aqua Line will have a total of nine metro stations out of which two will be in Noida and seven will be in Greater Noida. The metro stations in Noida include sectors 122 and 123 and the metro stations in Greater Noida include sector 4, Ecotech 12, Sectors 2, 3, 10, 12 and Knowledge Park V.
Almost a year ago, Noida and Greater Noida authorities, which will fund the Metro link, had decided to put the project on hold citing a fund crisis. They had also said that the project was not feasible as ridership would be low along the route.
Noida Metro Rail Corporation (NMRC), that was set up in November 2014, would construct the link. It has also constructed the over Rs 5,000-crore Noida-Greater Noida Metro link that is expected to be operational by end of 2018.
Home buyers of Greater Noida West, that now has a population of about 30,000 residents, have welcomed the decision. They hope that work would begin soon. “Also by the time construction is completed, over 50,000 residents would have moved into the area,” said Abhishek Kumar of NEFOWA.
Over 3.5 Lakh residential units are expected to come up in the area.
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Greater Noida: In Gaur Yamuna City situated Yamuna Expressway, Lord Krishna is going to be the tallest statue of God. This statue is not only of the UP West, but also the highest statue of Lord Krishna of India. The statue built on the cost of about 3.5 million rupees was worshiped on Thursday. It will take about one and a half year to build this statue.
Whose height is 135 feet from the ground. There are so many big statues of Lord Krishna that are in Mathura and Vrindavan and every year millions of followers pass through Yamuna Expressway for their philosophy. With the formation of this idol, not only will the area get a new identity. Rather, the area connected with the Yamuna Expression will also become devotional and simultaneously, 135 feet high statue of Lord Shri Krishna, built in Gaur Yamuna City of Delhi-NCR, will be the tallest statue of Lord Krishna in entire India.
This idol will be constructed by the famous sculptor of Jaipur, Vishnu Sharma Kreeng, with which two Puja Halls will be constructed. The temple premises along with the idol will be constructed in 1000 square meters and it will take about one and half years to build. Gaursons Group will spend the entire cost of making this idol.
About this, Manoj Gaur, managing director of Gaursons Group, says that it is a matter of pride for everyone that the Lord Krishna’s 135 feet high statue of God Shri Krishna in Gaur Yamuna City will be added and the name of Krishna God will be added from the Yamuna city. Thereby, the entire area will be painted in the color of devotion and holy.
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