Increasing Connectivity Of Greater Noida

Development of new connectivity can add immense value to an area

. It not only provides opportunity to the developers to do more business but it also provides new options to end users. Best of all, it helps in containing the price rise of real estate projects in the main districts of a town.

The newly built bridge over Hindon river near Sectors 121 and 119 in Noida has reduced the distance of Greater Noida Sectors 1 and 4 from main Noida to almost half. Because of the bridge, Noidas connectivity has improved so much that the new area is being termed as Noida Extension. Since then, a number of developers in the area have launched apartments in the price range of Rs 9 lakh for one bedroom with a hall and kitchen (1BHK) apartment to Rs 15 lakh for a 2BHK and Rs 18 lakh for a 3BHK.

The distance of Sector 1 and Sector 4 of Greater Noida, where a number of real estate projects are being developed, has reduced to about 11km from the main market place, Sector 18 in Noida, because of the bridge. Earlier, the distance from Sector 18 to the place was around 18km. The distance from the main commercial centers like Sectors 61 and 62 too has come down to around 8km from the earlier 14km.

Before the construction of the new bridge, one had to travel to reach these areas via National Highway 24. Not only is the distance via NH-24 longer, but NH-24 also remains congested most of the time, and as a result homebuyers were reluctant to purchase apartments in these areas. The traffic along the stretch at Vijaynagar across Hindon river on NH-24 remains particularly bad.

At present, a number of developers including Gaursons, Amrapali and Supertech are developing large townships in the locality. The size of the each township is around 150 acre with all the latest amenities like schools, playgrounds, hospitals, market complexes and commercial property in fact, Supertech has two townships lined up. Besides this, a number of small developers have also joined in to develop condominiums on smaller plots of 20 to 30 acres.

As the area is offers such a huge land mass for development, a number of commercial projects are also coming up in the locality. A large multi-specialty hospital is being developed by Metro Hospital group in the area. Besides this, an IT park has also been proposed in the area. Just along the Hindon, Greater Noida authority is planning to develop a number of real estate projects. Such connectivity inevitably brings in a huge chunk of land into the mainstream on which residential complexes for the middle-class communities could be developed.

The availability of large chunks of land to develop the housing apartments has made developers keep prices at highly competitive range. Most of the apartments in these areas have been launched for around Rs 1,800 per sq feet as the basic selling price. This has brought prices of apartments here within the affordable range for the middle class. After making payment for the cash-down component, one can buy a two-bedroom apartment for an EMI of around Rs 12,000 per month. That means, one, whose annual income is Rs 3 lakh per annum can afford to buy a house in this area.

Not only this, the sudden increase in the supply of apartments in this part of the city has forced developers in the central part of Noida to not revise the prices upwards. Despite, rising demand, developers have kept prices under check for some time now. For more information visit:- Real Estate Projects

by: Asha Bhardwaj

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