Noida, Greater Noida, Yamuna Expressway, Ghaziabad and Gautam Budh Nagar will continue to provide a huge opportunity to end users as well as investors
Noida, Greater Noida and Yamuna Expressway are going to be the examples of planned urbanization in the country. Apart from these, the authorities of Ghaziabad and Gautam Budh Nagar are proposing a number of other large planned developments in the NCR.
On the whole, the area is likely to witness an unprecedented growth in the coming times. A senior official in the Noida authority said that the new Uttar Pradesh government under Akhilesh Yadav is taking keen interest in the development of the area. The new incumbent’s decision to continue with the proposed developments along Yamuna Expressway and Noida City Centre, and the large townships on NH-24 and Dadri is a clear indication that the model of planned urbanization will continue in the area. The proposed planned developments will not only help in the optimum utilization of land in maximizing growth but will also help in containing the prices of real estate in the region. The huge supply of land in Noida, Greater Noida and Yamuna Expressway is already helping in keeping the real estate prices under check in the region, compared to those in Gurgaon.
Besides Jaypee, a number of developers have been allotted land to develop townships and other housing projects along the Yamuna Expressway. An official of the Yamuna Expressway authority said that Supertech, SDS Infrastructure, Orris, Anushria Realtors, Anova Infracon, Silver Sands Estate, Aminiti Builders, Ajnara, Nimbus and Fab Distributors are the prominent developers allotted land in the area.
The Yamuna Expressway, which has been constructed by Jaypee Infra, a real estate arm of Jaiprakash Associates, will go a long way in the urbanization of Greater Noida and the Agra corridor. The 165km-long nonstop Yamuna Expressway is one of the longest access-controlled sixlane rigid pavements in India. It will provide direct access to the Yamuna Economic Zone, the international airport and aviation hub, which have been proposed along the Yamuna Expressway. The Yamuna Expressway was one of the key infrastructural projects of the former Mayawati government in UP, and besides connecting Delhi to Agra through the Noida-Greater Noida Expressway, it will touch 1,182 villages of Gautam Budh Nagar, Bulandshahar, Aligarh, Hathras (Mahamaya Nagar) and Mathura district.
The expressway will also ease traffic on Delhi-Agra NH-2, which is already congested and runs through the heart of cities like Faridabad, Ballabhgarh, Palwal and Mathura. The Yamuna Expressway will reduce the travel time between two cities – New Delhi and Agra – to around 100 minutes from the present nearly 5 hours. Coming up along the proposed Taj Economic Zone and the Taj International Hub Airport and being within easy reach of Delhi, Noida and Greater Noida, the Yamuna Expressway project will accelerate the overall development of the region.
With improved connectivity, a Special Development Zone is being developed between the Yamuna and the GT Road, in three phases. The authority has already acquired land up to Jewar, and has handed it over for development to developers. Out of 35,000 hectare, 35-40% of the area will be developed for main activities like industry, IT, educational institutions, warehousing, transportation, sports facilities and allied services.
The infrastructure along the expressway may also trigger further private development and buttress the plans to set up an international airport on the expressway. However, the state government has cancelled its plan to develop an airport at Jewar – people involved with the development of the area say that the airport is viable at Jewar alone. The UP government’s decision to widen the NH-24 to eight lanes will provide a huge boost to the supply of real estate in NCR. The NH-24 connects Nizamuddin Bridge on Yamuna to Mayur Vihar Phase II, Patparganj, Indirapuram, Noida, Crossings Republik, townships of Ansal API, and Wave City. This will also improve the connectivity of the proposed mega townships in Noida Extension. The proposed widening of the NH-24 will reduce the travel time of more than one million people living in these urban centres. The new UP government has also taken keen interest in resolving the land acquisition issues in Noida Extension, which was affecting the construction of around 2,00,000 residential units. It is believed that the final approval of the master plan from the NCR Planning Board is expected any time, which will pave the way for the resumption of construction in the region.
The Noida authority is also learned to be in the process of clearing the building plan of the Noida City Centre. The project is over 160 acres in the heart of Noida in Sectors 25A and 32. This will further enhance the attraction of Noida in the NCR. Out of 160 acres, 152 acres are being developed by Wave City Centre. In the first phase, which will be completed by 2016, Wave Infratech will construct around 1,400 apartments and malls with shopping area of 20 lakh sq ft.
With these kinds of development, Noida, Greater Noida, Yamuna Expressway, and other parts of Ghaziabad and Gautam Budh Nagar will continue to provide a huge opportunity to end users as well as investors. With such huge land banks available at a commutable distance from Delhi and Noida, the region will continue to be the hub of activities in the realty sector.
The huge supply of land in Noida, Greater Noida and Yamuna Expressway is already helping in keeping the real estate prices under check in the region, compared to those in Gurgaon
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