Jewar Airport to give a further boost to Sector 150, Noida

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Updated: Jul 31, 2020 3:42 PM

Among the various pockets in Noida–Greater Noida, Sector 150 is the most preferred realty destination, having a blend of residential and commercial segments.

real estate, Noida, NCR region, Sector 150 Noida, Jewar Airport, Jewar Airport to boost Sector 150 Noida, Noida-Greater Noida ExpresswaySector 150 Noida has witnessed major activity in the residential segment with over over 12,000 unit launches, while subsequent phases of many projects are in the pipeline.

In its quest to accomplish ‘Atmanirbhar Bharat’, the Central government as well as many state governments have taken a slew of measures to attract investment in the country. Much like other states, the UP Government has been at the forefront of announcing measures which could attract multinational companies to its fold. Some of these include – formulating a policy for providing jobs to migrant labourers, relaxing labour law etc.

While these measures are bound to benefit the entire state, they will benefit the Noida, Greater Noida and Yamuna Expressway region immensely mainly on account of its superiority in terms of infrastructure and connectivity. With the Noida-Greater Noida Aqua Metro already operational — along with the upcoming Jewar Airport — infrastructure and connectivity are likely to receive a further boost.

As the region offers options of high standard living, any uptick in the economic activity is likely to increase the demand for residential and commercial properties in the entire region — particularly sectors like Noida’s Sector 150, which falls on the 24-km-long stretch of the Noida-Greater Noida Expressway, stand to benefit immensely from it.

“Being the hub of affordable inventory, the prospects of this NCR market remains strong. Some of the sectors on the periphery of expressway, like Sector 150 and adjoining sectors, have great prospects as the prices are still reasonable for homebuyers. As the sector has great connectivity via Metro and Expressway, it stands to benefit from any uptick. The planned International Jewar Airport adds another dimension to the prospect of the sector that is likely to witness a spurt in demand for both residential and commercial properties,” said Mani Rangarajan, Group COO, Housing.com, Makaan.com and PropTiger.com.

Industry experts say that sectors abutting the Noida-Greater Noida Expressway (also termed as ‘expressway’ in real estate parlance) have been one of the key zones in context of the Noida realty market with a healthy mix of new age commercial and residential developments along the expressway. The zone abuts the stretch of expressway approx. 20-km long and can be further be demarcated into two sub zones, in terms of development profile and stage of evolution. First half of the expressway (~ first 10 kms from Maha Maya Flyover) till about the intersection of Aqua line Metro and Expressway witnessed upswing in development from mid of 2000s, and bears a more developed profile, while the other stretch (~ 10 km) is emerging as the most promising zone of the Noida real estate market.

“Real estate activity in Sector 150 and its catchment, which broadly comprises of sectors 135, 137, 143, 143B, 144, 152, 152, 157, 161, 162, 163, 165, 166, 167, 168, has been on the rise both in terms of development as well as buyers’ interest. Over 50,000 residential units have been launchged in the entire region till now, out of which some projects have been delivered, while others are at different stages of completion,” says Ashutosh Kashyap, associate director, valuation & advisory services at Colliers International India.

Sector 150 has witnessed major activity in the residential segment with over over 12,000 unit launches, while subsequent phases of many projects are in the pipeline. The projects launched in the sector are largely in the premium segment, offering high-end amenities and USPs and entices seekers of premium living. The major driver for interest of lifestyle seeking home buyer has been availability of high-end living in their budgets, being offered by some of the renowned developers, all in one micro market with good connectivity to most of the commercial hubs of Noida.

“In addition, development of the Jewar Airport has further fuelled the sentiments in favour of the Expressway, aptly complemented with competitive office rentals, leading to upswing in the occupier’s movement on the expressway. All this bodes well in favour of the residential demand in Sector 150. With habitation over the coming years primarily on account of more completions, the sector is poised to witness a significant change in the profile and emerge as one of the premium sectors of Noida,” says Kashyap.

Developers say that among the various pockets in Noida–Greater Noida, Sector 150 is the most preferred realty destination, having a blend of residential and commercial segments.

“The expansion of the Metro network and the proposed Jewar Airport will play a significant role in the development of the city with ease of connectivity to other regions. This catches the attention of prospective buyers, who seek a fine lifestyle away from the city chaos and yet want to remain well connected with all prominent locations. Enjoying seamless connectivity not just to the other sectors of Noida, but also to the different parts of NCR, Sector 150 will set the stage that will transform Noida’s landscape. Fast-paced industrial development, expansion of corporate offices and foreign establishments in the region augur well for its residential realty market,” says Ashish Sarin, CEO, AlphaCorp, which is developing a prominent residential project in the region.

Deepak Kapoor, director, Gulshan Homz, says, “Alike other new sectors such as 143, 144, Sector 150 too is getting high attention from the buyers mostly because of the presence of reputed developers in the area and the fact that it is promising good connectivity to the buyers, including proximity to the Jewar Airport and the metro. The prices are competitive as of now and an appreciation of around 15% is expected in the next six months. The lifestyle that this sector is promising makes it one of the sought-after locations. With the news of Jewar Airport, the interest has increased as mobility will improve further.”

Kapil Kapur, director-sales, strategy & business development at Bullmen Realty India, says, “This sector has already witnessed a price appreciation of around 7% in the last six months. The projects are taking shape fast and are expected to complete as per the timeline given to the buyers. In the next six months, I see price appreciation between 12% and 16%. Properties here provide excellent infrastructure and people realize the scope of this area especially after the announcement of Jewar Airport. At present prices in the sector are hovering around Rs 4500 per sq. ft., which are most likely to see an upward trend soon.”

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