With the Metro finally crossing Delhi’s border into Noida, this satellite town in Uttar Pradesh, located across River Yamuna, is slowly but steadily gearing up to reap the benefits of this improved connectivity.
Already, one can see visible changes all over.
Property prices in Noida, which has a population of approximately seven lakh, have almost doubled in the last three-four years.
Multinational companies, which were located in the Capital, have moved and set up their offices there. Branded retail chains have also opened their shops in Noida.
Urban and realty experts said with the Metro entering Noida, the rapid pace of development is only going to accelerate.
Big-ticket developers like Unitech, Omaxe, Assotech, Eldeco, Parsvnath and the likes have moved in to cater to the growing demand for residential properties.
“With the Metro going to Noida, the suburb and its surrounding areas will definitely benefit.
The first signs of this will be visible in the next six months in the form of rental value going up,” said Ganesh Raj, national leader (real estate),
Ernst &Young, a global consulting firm.
“In the log run, realty prices will also show an upward trend.”
In the second phase, the 13.1 km metro link crisscrosses through sectors 15, 16, 18, 37 and sector 32 integrating Noida to north, central, east and south-west Delhi.
Eventually when the third phase takes off, the Metro would link Delhi to Noida’s Sector 62, covering almost half of the satellite town.
“Courtesy the Metro, Noida and Greater Noida would become sought after destinations. We shifted about a year ago from Malviya Nagar in Delhi,” said Ramesh Pradhan, a software professional living in Noida’s Sector-52.
“We have not regrets at all that we left the Capital and settled in Uttar Pradesh,” he said.