Delhi/NCR
Noida (New Okhla Industrial Development Authority) has evolved as a planned, integrated, industrial hub and is well connected with other parts of Delhi/NCR via roads, highways, expressways and the metro line. The infrastructural developments and high connectivity provided by the 8-lane DND flyover and the Noida- Greater Noida Expressway are major reasons of growth for the Noida real estate.
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The upcoming residential development along the Noida Expressway, covering sectors 93A, 93 B, 119, 128, 129, 134, 137 etc is emerging as a lucrative real estate corridor in Noida. Major developers with residential developments on the Expressway are Jaypee Greens, 3Cs Group, Logix Group, Omaxe Pvt Ltd, Eldeco, Parsvnath Developers, ATS Group, Supertech Ltd, Paramount Group etc.
The residential market in this stretch can be divided into two parts. The first wherein the existing residential sectors viz. sectors 44, 93, 93A, 93B and 119 offer high-end premium segment apartments in a range of INR 4,800–8,500 per sq ft. The second, where construction activity is in full swing, offering affordable and medium projects in the range of INR 3,000–5,000 per sq ft, depending on the area, developer profile, specifications and amenities/facilities offered.
The expansion of resident population along the expressway further generates demand for related commercial office spaces and retail centres, which is presently lacking and is restricted in supply with the authority. According to market survey, Corporates in the domain of IT/ITeS have started scouting for office space in this region and to cater to this opportunity developers such as Supertech, BPTP and 3Cs are coming up with commercial projects.
As per market sources, developments like Export Promotion Zone, Taj International Hub Airport, the Formula 1 Grand Prix race etc will further open doors of all-round progress in this neighbourhood. Also, with the coming up of the Yamuna Expressway easy accessibility towards Aligarh, Mathura and Agra will be provided and it will accelerate overall development of the region.
Source:- Magicbricks
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