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Noida – Greater Noida Expressway Paves Way for HIGH-END Development
The real estate boom in twin cities of Noida and Greater Noida continues unabated. With Special Economic Zones (SEZs), hotels, commercial and residential complexes in pipeline, the cities forecast strong and sustained growth for all real estate segments.
Development of residential, commercial, and institutional area along the Noida-Greater Noida Expressway in the next 10 years could be phenomenal.
The sectors around the Expressway are likely to see an additional population of 15.84 lakh by 2021. The projected additional population is 11.53 lakh.
Outlined below is the distribution of Zones as per their relative distance and the Sectors brought under each zone:
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Zones
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Relative Distance
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Sectors
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Zone 1
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Less than 1 Km
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92, 96-99, 106, 128, 133-136
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Zone 2
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1-3 Km
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42, 43, 45-48, 82, 104, 107, 109 and 110
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Zone 3
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3-5 Km
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49, 50 and 101
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Zone 4
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6 Km
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72-79, 114-120 and 122
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Noida sectors are expected to account for 74% and Greater Noida will account for 26% of total population till 2016. The average population density for per hectare for Noida is estimated to be 500 hectare whereas it is 350 hectare for Greater Noida.
Noida – Greater Noida Expressway is 23 km long. Of this, only 3 km fall under Greater Noida and the remaining is with Noida.
Real Estate Projects
Authority of both cites have planned a multitude of real estate projects. Unitech, a strong player in Indian realty, has planned a world-class mini-city ‘Unitech Express City’ which would come over a large area of 347 acre land in Sectors 96, 97, 98. The proposed city will feature hospitals, parks, post office, fire station, banks, commercial and residential complexes, sub stations and more. The beauty of the city will further be enhanced by wide roads.
Special Economic Zones (SEZs)
A multi-product SEZ has been allotted to come over a 2500 acre land and nine IT SEZs to different companies. At present, these projects are under the review of the state government.
Luxury Hotels
Builders have lined up to develop luxury hotels in Sector 96, 97, and 98. Of ten hotel sites, the authority has allotted 9 sites. Other projects are to be developed by property developers such as Omaxe, Ansal, Parsvnath, and Supertech.
Considering the fast paced development to embrace the area along the 22.5 km Gautam Budha Highway in future, several sub stations including two 220 KV stations have been planned. The project will involve a whopping investment of Rs 500 crore. The Authority is doing its level best to not leave any stone upturned as far as development of infrastructure facilities are concerned. The entire stretch of the expressway will be made WiFi thereby allowing people to surf web on their laptops in moving cars.
Developers’ Opinion
Developers see the expressway project to hold ultimate potential in terms of commercial and institutional growth. The projects planned along the expressway involve heavy investments. However, low end projects for middle class income group will also be developed about three to five kilometers from the expressway.
News Published Under: Real Estate India | 1 Comment »
Interesting article..but how to you explain the fact that prices for Unitech apartments in Greater Noida have fallen, from 18 months back!