Enable Cookies

We’ve detected a problem with your cookie settings

Make sure your cookies are enabled. To enable cookies, follow these browser specific instructions. https://support.google.com/accounts/answer/61416?hl=en For further assistance please mail us at support@clicbrics.com.

12/9/2019

Real Estate Markets In Noida And Greater Noida Get A Boost With Noida Metro's Aqua Line

Noida Metro under Noida Metro Rail Corporation and as the eleventh metro system in India recently began its operation on January 2019.  First announced in the year 2016, the first line of the metro route is called Aqua Line, covering 21 metro stations. Visioned by the government to provide a world-class metro with sustainable development, the aqua line connects Noida and Greater Noida in Uttar Pradesh. It offers safe and eco-friendly transportation services to commuters travelling between these two twin cities.

Aqua line metro route

Aqua line is the first phase of Noida metro route, starting from Noida's Sector 51, running through several sectors and ending at Sector 148. The same route continues by entering the Greater Noida zone, beginning at Knowledge Park II and ending at GNIDA Office. The cost of ₹ 5,503 Crores to provide new and faster transportation infrastructure with metro has resultantly influenced real estate of both the regions.

Despite the real estate properties sold at affordable prices, some parts of Noida and Greater Noida at large have been facing a shortage of buyers. The unsold inventories in housing projects were observed in more significant numbers, compared to Gurgaon and Delhi. One reason being less infrastructural development, such as the absence of a robust transport network. Both regions never failed to offer housing properties to home seekers. The presence of reputed builders and their projects are in abundance. The need was an infrastructural push, which aqua line has answered. The demand has picked up its pace and property prices may rise in the coming days. 

Real estate on the rise due to aqua line

Some of the sectors of Noida covered by aqua line include 50, 76, 101, 81, 144, 145, 146, 147. Builders who have invested in and around these sectors are namely, Omaxe, Ambience, Aims, Maxblis, Dasnac, Ajnara, ATS, Sikka, Godrej Properties, and more. Similarly, some highly regarded names in real estate who have invested big in Greater Noida areas include Shri, SDS, Paramount, Omaxe, and Purvanchal.

Properties have begun to see good value appreciation and builders are ready to undertake more projects. The unsold inventories are now seeing the light of the day and people who already own a property(s) in regions close to aqua line no more have connectivity and travel issues. Value of their properties has increased. Among the new projects launched, 50% contribution is seen from the affordable housing projects. Moreover, property listings in both cities continue to show steady growth.

Extension of the aqua line approved by the Uttar Pradesh government

Aqua line is soon going to be extended as Phase 2 development. It will comprise of nine stations in the regions such as Noida Sector 121, Noida Sector 123, Greater Noida Sector 4, Eco Tech, Greater Noida 2, Sector 3, Sector 10, Sector 12 and Knowledge Park 5. The construction will take place in two phases with five stations in the first phase and four stations in the second phase. 

Connectivity will obviously improve, and the extension will result in settlement of around new 1.5 lakh families in the next three years. While stating on property prices, Amit Modi, Vice President, Credai, Western UP, said, "Prices may just increase by 5 per cent, considering the current market scenario, but that too will depend on several factors such as location, size of the project and most important the track record of the real estate developer".

While the project is operated under NMRC, Delhi Metro Rail Corporation (DMRC) will assist in designing and preparing the tender documents.

Comments

Loading ...

Real Estate news, delivered to you weekly

Cookies are disabled in your browser please make them enable in your browser setting other some features may not work properly.
notification icon

{{noti.title|truncateString:100}}

notification icon

{{noti.title|truncateString:100}}

{{noti.title|truncateString:100}}

×