REALTY GROWTH ALONG YAMUNA EXPRESSWAY
The current real estate scenario and future prospects along Yamuna Expressway are very bright, by all accounts.
Yamuna Expressway is already operational and directly connects Greater Noida to Agra, which has enhanced the realty prospects of neighbouring regions as well.
Master Plan, 2031, of Yamuna Expressway Industrial Development Authority (YEIDA) promises immense scope for real estate development, while news of Jewar airport has stoked greater interest among investors. Long term vision of the region looks bright, promising better returns in the future.
According to current layout and plan for the region, Yamuna Expressway has been divided into zones, each earmarked for diverse infrastructural activities. Yamuna Expressway authority has under its belt 2.5 lakh hectares, with 1,187 villages comprising 6 districts, along both sides of the 165km-long, 6-lane expressway.
FNG corridor’s third phase link-up with Yamuna Expressway will see more areas opened up to infrastructure in the years to come. The crossover of Eastern Peripheral Expressway over Yamuna Expressway will occur 9km from the zero point in Greater Noida.
Manoj Gaur, MD of Gaursons India, says: “With more plans to revamp the region and bring along better infrastructure, demand for housing along Yamuna Expressway has, off late, started picking up with investors making a strong come back.”
Rakesh Yadav, chairman of Antriksh India, said: “Yamuna Expressway is not a primary development, it is tertiary. It has the infrastructure ready around which real estate can build up. In fact, with huge land parcels available along the entire stretch of the expressway, development can be fast paced.”
Pradeep Aggarwal, MD of Signature Global, said: “The future is very bright for this area, as can be judged by the push it is getting time and again. A lot many people have invested in this region banking on its potential and current growth.”
Amit Modi, MD of ABA Corp, says: “The area has a number of mega developments lined up. Once current projects are complete and families start moving in, this will automatically generate a catchment area for future commercial establishments.”
Realty scenario Nearly two dozen developers like Supertech, Gaursons India, Jaypee Group, ATS, Logix, Orris, SDS, Ajnara, etc, offer residential and plotted development projects in this area. Product variety is huge – ranging from 1-, 2-, 3-, 4-, and 5BHKs to penthouses, plots, villas, duplexes. Prices are competitive, as the region is developing with a lot of projects. Average price here varies from Rs 2,800 to Rs 3,200 per sq ft.
Keeping future growth in and around Yamuna Expressway in mind, the UP government has declared Yamuna Expressway belt as an electronics manufacturing zone. The UP state government is planning to lay the foundation stone of Phase 1 of this project by October 2018.
Estimated to cost Rs 20,000 crore, the Jewar international airport project has been pending for the past 15 years over regulatory hurdles. Now, the UP government has appointed Yamuna Expressway as the nodal agency of the project and directed officials to expedite the land acquisition for early launch of the ground work.
YEIDA has already identified 5,000 hectares for this purpose.