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3/14/2019

Metro Extension Will Drive Real Estate In Noida And Ghaziabad

Delhi Metro’s Blue Line has been open for public use which makes the connectivity between the national capital and deeper pockets of Noida smoother. The Blue Line is a 6.6 km extension. This new route will pass through Noida’s sectors 52, 59, 61, 62, terminating at Electronic City near the National Highway-24 as well as link Greater Noida with Noida through the Noida Metro’s Aqua Line. The same Blue Line will be extended to Sahibabad, Ghaziabad via Indirapuram and Mohan Nagar soon.

Noida’s Electronic City and other nearby areas are home to some of the leading IT, ITes and multinational companies which employs a huge workforce. With such enhanced connectivity via Metro to so many residential pockets of Noida, the demand for ready-to-move-in and rental properties is expected to rise in residential sectors such as 51, 52, 71 and 77. However, property prices are expected to remain stagnant in sectors 51 and 52 as the prices here are already high whereas the affordable sectors 71 and 77 will witness a hike. For those looking for property investment, the rise in property prices will also make these sectors lucrative. Those who have offices in Noida Expressway can choose to stay in developed areas of Noida Sector 41, 49, 50, and 51. Investors who are seeking to put money in the property market could consider this period as the best time. The GST for under-construction affordable property (properties below Rs 45 lakh or 60 sq meter) has been reduced to 1 percent whereas it is 5 percent for standard housing.

The Prime Minister recently inaugurated the domestic airport at Hindon Air Base in Ghaziabad and flagged off the Metro between Dilshad garden and new bus stand. These two developments are going to result in an immense impact on Ghaziabad’s real estate market. Noida and Ghaziabad have a massive number of working-class people living. The launch of the domestic airport here will witness a further boost in the real estate sector with an appreciation of property and rise in prices of under construction properties.

The Vice President of CREDAI Manoj Gaur stated on the development, “Definitely we will see an upsurge in the interest of people. Ghaziabad arrived on the real estate map of Delhi NCR long back, and latest developments will make it stand out given the advantage of pricing that people enjoy here as opposed to Gurgaon, which is another place near the airport".         

The President of CREDAI — Ghaziabad chapter Gaurav Gupta also spoke about the areas that will be gaining significant traction of this real estate boom in the city, "New Metro line from Dilshad Garden to New bus stand in Ghaziabad is another development that has set the real estate market on fire here. The areas that are going to gain maximum from it are Raj Nagar Extension, Siddharth Vihar and Indirapuram among others". He added, "Though Raj Nagar Extension is already buzzing with people and has been a success since the time it was announced, realtors have seen that the two announcements have made more people show interest here. As we are the closest to the airport and the new metro, we are poised to gain the maximum".

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