Thriving realty along the metro link in Noida

The adjoining areas of Delhi NCR have been constantly feeding exodus of working class population that has habilitated in Noida. Already cluttered with multiplying population base, Noida has witnessed, sprawling commercial and residential real estate in past three years.  Being termed the media city of northern India, Noida hosts all the electronic channels in the northern zone. Moreover, with religious sites, amusements parks and Budha international circuit in Greater Noida, this part of Uttar Pradesh has become a sorted terminus to settle for.

Owing to skyrocketing prices in Gurgaon and exorbitant accommodation in Delhi, Noida, lately has been accommodating non-natives in large numbers.  A combination of all these factors has led to a number of developers to invest in residential realty sector.  Apparently, latest of all the lucrative zones for real estate in Noida has spurt along the metro – rail corridor, proposed from Noida till Greater Noida. As elaborated above, growing demand for housing has stretched the gap between demand and supply of residential spaces in few areas of Noida. The construction that has now started on a massive scale in this corridor will result in the gap getting mended and also solving a major requisite of homes. Some of developers are double timing the construction work to fulfill the urgent need of housing in this corridor. To the relief of developers, governments of Noida and Greater Noida have sanctioned the increase of floor area ratio (FAR) on both the sides of this metro link. The link will stretch to an expanse of 29 kilometers and the earnings from neighboring developments will be channelized to support the metro infrastructure. FAR is projected to increase by 0.5% on both the sides of metro link for a depth of 500 meters. Funded with INR 5000 crore, metro rail link and the increment of FAR along this route has brought cheer to the developers in Delhi NCR.

Earlier the FAR stood at 2.75 which is going to surge at a level of 3.5 now. The group accommodation ventures along many sectors will be substantially benefitted with 200 more residential units under increased FAR. Beside the growing number of units and habitants, infrastructural investments are subjected to receive a robust boost on this route. The metro link for a stretch of 29 kilometers will eventually invite more builders to not only construct condominiums along this route but  also in sectors demarcated in a radius of more than 15 kilometers of this region.

The real estate projects, planned at present will be privileged for the flexibility of adjusting the specifications and lay outs in tandem to the increased FAR.  Proposed JVs have started bidding for more partners to invest and many commercial and retail pockets are already developing in this division. It is evident that Noida is going to be stage for burgeoning realty sector in the coming future. It is swiftly catching up to pace of south Delhi and Gurgaon in terms of value chain for properties and investments.