Noida Greater Noida: Good living quotient

Updated: May 25 2013, 21:47pm hrs
NoidaThe Noida-Greater Noida Expressway is poised to become a self-sustaining urban pocket. (Reuters)
The Noida-Greater Noida Expressway is poised to become a self-sustaining urban pocket in the NCR with good infrastructure and reasonable prices

Noida-Greater Noida Expressway is the alternate to Dadri Road connecting Noida and Greater Noida. The Yamuna Expressway also starts from this expressway just short of Pari Chowk in Greater Noida. This area has emerged as a major growth corridor and one can witness increased real estate activities here. Sectors abutting this corridor are 44, 45, 92-94, 96-100, 105, 108, 125-137 and 141-168. These sectors lie towards the south and south east of Noida.


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This 23 km long corridor has attracted real estate investors and buyers with its good infrastructure facilities and connectivity to the other regions of NCR. This stretch gives quick access to the major business districts of Delhi like Jasola, Nehru Place and Okhla also the prime residential market of south Delhi. The new developing corridor i.e. Faridabad-Noida-Gurgaon Expressway will also pass almost midway through this corridor and increase the connectivity of Noida with Ghaziabad, Faridabad and Gurgaon.

It is also proposed to connect this highway with DMIC (Delhi Mumbai Industrial Corridor). This corridor will thereby have connectivity from all the major towns between Delhi and Mumbai. This area is getting Metro connectivity which will make this region easily accessible from other parts of NCR. The proposed Metro line in this corridor will have 22 stations, out of which 15 stations will come in Noida and 7 in Greater Noida. This line would be an extension of Noida City Centre in sector 32. The proposed stations on the route are expected to come up at Sector 50, 78, 81, 83, 101, Dadri Road, Sector 137, 142, 143, 144, 147, 149 and 153. The Noida-Greater Noida Expressway is one of the prime development corridors in the country, and unique as connectivity options are already functional or are making good progress.

Noida-Greater Noida Expressway offers a mix of residential and commercial developments on both sides of the corridor. This area has seen tremendous growth in residential projects owing to high demand from the commercial and IT/ITeS developments in the vicinity.

The administration authorities of these areas are more focused on a comprehensive and multi-dimensional development of infrastructure and the economy. Various special economic zones in some of the Sectors like 144-147 and 164-166 will become major employment hubs and as these economic zones will provide direct and indirect employment to people, the demand for housing in neighbouring localities will also increase.

This area has been witnessing a healthy demand along with the supply from various reputed developers like Jaypee, Supertech, Amarpali, 3C, Assotech, Logix, Unitech and Eldeco. These developers have come up with the concept of integrated townships, group housing and plotted developments in this area. In totality, location-wise and in terms of proximity to Delhi, this stretch offers good residential options. This location has become one of the self sustaining urban pockets of NCR region.

Projects which were launched at the price range of Rs 2,600 per sq ft two years ago are now selling in the range of Rs 5,500 per sq ft. The prices are still reasonable compared to other areas of NCR taking infrastructure into account. The property rates have showed stability and have witnessed an average hike of 28 per cent per annum over the last 2-3 years. Being the most prime developing corridor this area still has several projects that suit the large and varied mid-income group segment i.e. ticket size of Rs 45 lakh Rs 1 crore.

Noida-Greater Noida Expressway is poised to be a great location for long and short term investors and occupiers. With an investment period of 2-5 years one can expect a minimum of 20-40 per cent returns on their investments. The Noida-Greater Noida stretch will offer better livability, and would be a good option for investment as well as end-use.

The author is MD, Black Olive Ventures and adjunct professor, RICS SBE