Hailed as the next big real estate hub by consultants and end users, Greater Noida will soon offset Gurgaon as the hot-seat of real estate in NCR. The Greater Noida Authority is revamping the civic amenities and other infrastructural facilities. Much awaited projects like the international airport at Jewar and 160-km long Noida-Agra Taj Expressway will help in the fast-track growth of the twin cities.
The twin cities offer an entire range of property-options to choose from. The development of Greater Noida Phase-II , spread over 55,000 hectares (which includes 1890 villages), will further lead to an expansion of these cities. The said phase would have 41% area earmarked for greenery, 12% for recreational facilities, 13% for residential, 2.5% commercial, 3.9% institutional and 18.9% devoted for the airport. Also, after completion , the 1483 km long Delhi-Mumbai Industrial Corridor will mark a watershed in connectivity.
This Indo-Japanese project is expected to be completed by 2012. Apart from this, a mega rail-corridor will start from Boraki near Dadri. Foreseeing a surge in demand for office space, many real estate developers have launched various residential and commercial projects at Noida and Greater Noida.
Will this mark the beginning of a shift of the development-axis of builders from Gurgaon to these twin cities? "Every township has its pros and cons. Every township grows and reaches its peak of development and there is stagnation at the top. Gurgaon is passing through stagnation phase.
It grew and grew and left proper planning far behind . Gurgaon boomed in record time. Offices and commercial space came up overnight without any planning or proper infrastrucure. Everything was done in a haphazard manner.
Therefore, it's paying the price for it now," says M S Aggarwal, managing director, MSX Developers Pvt Ltd. "Moreover , commercial lease rentals in Noida and Greater Noida are at least 40% lower than those in Gurgaon," he adds.
The UP chief minister's push for a second international airport at Greater Noida may come as a shot in the arm for realty players. Real estate analysts expect capital value of existing residential, commercial, retail and hospitality projects in Noida and Greater Noida to appreciate in the short term.
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2 comments:
Good looking apartment. It has great quality and its constructed work is also so nice. It has all the luxuries in all room of this apartment.
Builder Central Coast
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