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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Prime advantage of this project is its location, as the proposed metro station is just 1.5 Km from the society, The society is connected to numerous multiplexes, shopping complexes, commercial hubs, retail developments & institutions. World famous Delhi Public School & Wipro IT park are, in addition to numerous high-tech startups like Fully-Verified, neighborhood of this project. The Upcoming international airport, Night Safari & F1 racing track lies within a close radius. AVJ Heights again is the only project having market plaza within the premises.
For being a great investor you have to invest first and we suggest you that in Greater Noida there are various opportunities for you. According to the ‘RESIDENTIAL PREFERENCE SURVEY 2015‘ by real estate services and consultancy giant Colliers International, India, living in Noida is the best bet for people who like to lead a hassle-free and laidback life with enough amenities, even though many residents may have to travel long distances to Delhi or Gurgaon for the sake of their jobs
The research by Colliers on the basis of a Pestle study of comparative indices— based on political, economic, social, technological, environmental and legal parameters—includes five NCR cities of Gurgaon, Noida, Faridabad, Greater Noida and Ghaziabad. Colliers compiled its research with the help of field experts, as well as secondary sources like NUMBEO, Wikipedia, Google and other government databases.
“Pestle is a strategic tool which gauges macro environmental factors. Accordingly, we ranked cities on parameters such as political, economic, social, technological, environmental and legal, which impact a person’s decision making on which city to live in. The research shows some interesting pointers,” Surabhi Arora, associate director (research) at Colliers International, India, told TOI.
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Noida has emerged as a major destination for home buyers over the last few years. Noida and Greater Noida, along with Yamuna Expressway and Noida Extension, provide affordable alternatives to middle class buyers in the national capital region. Average home prices in these regions are significantly lower than in Gurgaon, which is associated with high-end apartments.
Here are 5 tips as you go house-hunting in Noida:
- Plot versus apartment: You can buy a plot for the price of an apartment along the Yamuna Expressway, which connects Greater Noida with Agra. The world class expressway provides easy access from Delhi. However, don’t expect immediate capital appreciation because there is an oversupply of plots in this area. Plots near the F1 track or in the integrated townships coming along the expressway are better options.
- Choosing a developer: Projects being developed by an unknown builder, or a first time builder, are prone to execution delays. They will be comparatively cheap, but may remain grounded forever. Samir Jasuja, chief executive officer of PropEquity says buyers should always pay a little premium but go with a reputed or branded developer who will ensure the execution of the project even though it may still get delayed.
- Project specification: Small may not always be beautiful. As buildings go taller, large open spaces become a necessity. Look for a project that is adjoining a public park, or has bigger common areas. There will be a small premium between a 25-acre and a 50-acre project to start with, but with time projects with better amenities command a bigger premium.
- Absorption: Some areas like the Yamuna Expressway and Noida Extension have large inventories and absorption could continue to slow down. Homes in areas with low absorption rate are less costly, but are suitable only for long term investors, who have a time frame of at least 5-10 years. You should invest in such properties only if you are an end user with no plans to dispose the property.
Geographical factors: Noida and Great Noida have high water table unlike Gurgaon where ground water is not available. Noida has better accessibility to Delhi as compared to Gurgaon, which relies only on the Jaipur Highway. However, both Noida and Gurgaon fall in seismic zone 4, where the risk of earthquakes is pretty high.
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Demand for residential units in all parts of the National Capital Region (NCR) has shown a positive trend. The strong demand for residential units has led to a rise in prices in almost all the micro markets in the NCR.
Demand for residential real estate in Noida and Greater Noida markets has also picked up substantially in the last two years. This led to a rise in supply of residential units in various price bands ranging from Rs 2,000 per sq feet to Rs 8,000 per sq feet in the market.
However, the region also saw a temporary hiccup in the supply side after the Allahabad high court decided to cancel the acquisition of land from farmers in the Noida Extension area by the Greater Noida authority. But, issues are likely to be settled as the farmers have accepted the increased compensation. It is expected that construction in the region will start soon.
The most encouraging thing is the development by the Noida and Greater Noida authority of good infrastructure like a network of roads and the Metro link to connect the region with the central part of Delhi.
The Metro and road network had already improved after New Delhi hosted the Commonwealth Games in 2010. The decision to build the Games Village in East Delhi, in particular, led to considerable improvement in the road and Metro network in Noida and East Delhi.
The good thing is that the authorities have not left things to drift after that, and took proactive measures to improve connectivity of the area to other parts of the NCR further. Even today, the farthest point in Noida is not more than 40 minutes by road from Connaught Place. The city is also connected by the Delhi Metro rail to Connaught Place and the central secretariat, with the commute time being only about 30 minutes.
The authorities of these twin cities have now decided to extend the Metro further to Greater Noida and construct more Metro lines to create new alignments, so that residents of these places will not have to travel much to catch a train. On top of this, the Metro connectivity will now be extended to Noida Extension also, which is a part of Greater Noida. This will also be beneficial to another township, Crossings Republik.
With the various alignments of the Metro, connectivity to areas like Sectors 50, 51, 71, 74, 78, 81, 137, 143, 144, 147, 149, 150, and 153 in Noida will improve substantially. The proposed alignment will also improve the connectivity to Pari Chowk, Sectors Alpha 1, Alpha 2 and other parts of Greater Noida.
The best part of this is that apartments in Noida and Greater Noida, and Noida Extension in particular, are in the affordable range for the average middle-income group, despite the fact that prices have risen substantially in Sectors 74, 78, 143, and 147 in the last one year.
Despite rise in prices, one can buy a two-bedroom apartment for around Rs 30 lakh in Noida. In fact, some developers are selling smaller units for as little as Rs 27 lakh. With fresh launch of projects in Noida Extension, the availability of affordable apartments will further improve.
Around 2,00,000 apartments are likely to be built in Noida Extension area in the next five years. In 2010, when most of the housing projects were launched in the area, it was one of the most attractive destinations for buying affordable houses. Developers were selling two-bedroom apartments for Rs 16-22 lakh. A three-bedroom apartment was available for as low as Rs 24 lakh. At these prices, one could not have bought a similar apartment even in B-grade cities. But as the region went through a difficult time in the last 15-20 months, prices are likely to go up. However, developers have not disclosed the new prices; sources say they will be in the range of Rs 2,700-3,200 per sq feet.
As the distance from this area to Connaught Place is only around 18km and commuting time is around 35 minutes by car, the area is suitable for middle-class families. With the entry of the Metro line into the area, accessibility of the area will improve further.
Noida and Greater Noida are having a flurry of developments in the other sectors as well with around a dozen projects being implemented in Sectors 74, 75, 76, 77 and 78. According to one estimate, a total of around 20,000 apartments are being built in these sectors.
Besides these sectors, a large number of projects are being developed on Noida-Greater Noida Expressway. Around 1,25,000 apartments will be constructed on both sides of the expressway. At present around 30,000 apartments are up for sale by various developers here.
A number of premium projects like Unitech’s Golf Home, Jaypee’s Boomerang Residency, Krescent, Orchards and Golden Isles, among others, are available. The area will also be the site for the highest proposed building so far in the NCR — Supernova — by Supertech. A clean approach from central and South Delhi increases the attraction of this region.
Besides excellent road connectivity, the region also gets ample groundwater and a steady supply of Ganga water. The infrastructure in the region is being developed by the Noida and Greater Noida authorities, which are government bodies. Therefore, there is no compromise in quality and size.
Besides physical infrastructure, the area has good social infrastructure like schools, hospitals and shopping malls. The only area where Noida and Greater Noida lag behind Gurgaon is the number of operating commercial establishments. Because of this, both the suburbs lag immensely in creating jobs for their residents, forcing them to look for employment in other parts of the NCR.
But, large developers like Jaypee and Unitech, which have entered the Noida market in the last five years, have planned to build high-quality commercial space in Noida and Greater Noida. This might change the landscape of the suburbs by providing residents jobs at a walking distance ; also, it would lead to appreciation in the prices of residential real estate, which in turn would be a huge opportunity for investors.
|Trade Tax exemption of U.P. Government is admissible
||Trade Tax exemption of Haryana Government is not admissible
|The land rates are lower
||The land rates are high.
|Better accessibility to Delhi and the area will have three different access. Taj International Airport will connect the city to the GLOBE.
||Only one highway, NH-8 is providing access to the area
|Minimum road width is 80′-0″
||Minimum road width is 45′-0″
|Privatized Power distribution and 24 hours power availability.3740 MW Power generation plant coming within 10 km radius
||Condition of power supply dependent upon Haryana State Electricity Board
|Water is sweet, portable and water table is high. At the moment the company can have a boring on fixed prices and have 24×7 supply
||Ground water is not available. At present intermittent flow of supply from 65 km long drain which is called the western Yamuna Canal
|No polluting industry is permitted
||Polluting industry is permitted
The place To Be……………..
- National Capital Region (NCR) ranked third in terms of the number of software companies, after Bangalore and Mumbai.
- 35 minutes from New Delhi (24 Km, 8 lane expressway linking GN to Delhi, now operational).
- 55 minutes from Indira Gandhi International Airport.
- Proposed Taj International Airport and Aviation hub near G. Noida.
- 160 k.m. long Taj Expressway connecting G. Noida to Agra- 1:20 hrs.
- 850 Km high speed corridor connecting Delhi to Varanasi in less than 10 hours.
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