Noida Expressway likely to see massive realty growth

2011-09-02 16:50:37

Realty experts say that Noida-Greater Noida Expressway is going to see an unprecedented development spanning residential, commercial, as well as institutional sectors. This developing area is providing all the facilities to residents, well within their reach too, in social and commercial infrastructure.

Developers have already sniffed an opportunity here and are planning for residential and commercial projects. The recent Supreme Court verdict, which settled a dispute of allotment in 14 5-star hotel plots, has given a leg up to major developments on the expressway.

According to the apex court verdict, the Noida authority will now charge Rs 70,000 per sq metre (earlier it was Rs 700 per sq metre) for allotment. The Noida authority has plans to develop an international standard sports complex along with other major projects in the area. A proposed multipurpose sports complex here will have an indoor stadium, an exclusive stadium for athletics, a football ground and cricket field, bowling alleys, among others. A world-class 18-hole golf course, spread over 180 acres, is being developed in Zone 3 of the expressway, in Sector 101.

The India Expo Mart, Noida''s answer to Delhi''s Pragati Maidan, is already operational, which has come up at the end of the Greater Noida expressway. A knowledge park has been proposed along the expressway; this is likely to have 24 engineering and management institutes. At the Noida end of the expressway, in Sector 93, the existing landmarks are Amity University, Balak Inter College, Lotus Valley School, Logix Techno-Park, Mayoor International School, Parsvnath Prestige Apartments, and ATS Green. As per the plans of Noida Authority, Arogya Dham, a super-specialty world-class medical city is to come up along the expressway on over 50 acres, which will also have commercial establishments, residential options for the attendants, wider roads, lush green landscape, and parks and open spaces.

Some high-end projects are going to change the residential scenario here entirely. Two premium residential projects from Unitech, Unitech Cascades and a golf-themed residential condominium, Unitech Grande, are already receiving great attention from property seekers. Amrapali Group has also launched Amrapali Platinum in Sector 119 and Amrapali Zodiac in Sector 120. Logix Groups Logix Blossom Greens in Sector 143 offers luxury 2-, 3-, 4BHKs, penthouses and villas with private parking areas, exclusive tower dedicated to senior citizens with a lush green meditation park.

Omaxe, another major player has launched premium luxury residential projects like The Forest and the NRI City along the expressway. Utopia, the project from Eldeco, over 18 acres, will have every facility a resident may look for.

Anil Sharma, the chairman and managing director of Amrapali Group, says: "This destination is turning into a favoured property destination in the vicinity, as it has excellent connectivity and good infrastructural development. Here, existing properties have seen 80% appreciation in the last one and a half years rates went up to Rs 2,900 per square feet from Rs 1,600 psf."

Rakesh Yadav, the managing director of Antriksh Group, says: Noida Expressway has become the hub of realty activities in Noida. The eight-lane expressway connectivity is a major contributing factor for the growth of real estate development around the stretch and also because of its close proximity to Noida. A number of highways parallel to the expressway have also been planned to ease the traffic further." Prashant Tiwary of Prateek Group says:"Although most of the projects involve high investment, projects for the middle class and the tight-budget buyers are also to be developed in a 3-5km stretch along the expressway the proposed rates are Rs 5,000 to Rs 7,500 per square feet.

Supertech is building Ecociti, a project it claims is being constructed on zero-carbon emission concept by using special generators, machinery and ecological sanitation. R K Arora, the chairman and managing director of Supertech Limited, says, "Our core approach is based on the idea that all the ecologically responsible aspects of the building are made visible as part of the projects role as an eco-habitat."

Real Estate Noida
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