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.