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RM Reports

Gr. Noida Metro and the boost in property price in the area – RealtyMyths

Almost all the buyers, while house hunting, prioritise the location closer to their workplace or at least the area that has better connectivity in terms of public transport. The twin towns Noida and Greater Noida, in spite of being a buyer’s market and with an oversupply of properties, has always faced commuting problems since inception. But with the introduction of the metro line, which has come as a shot in the arm the twin towns have become the almost perfect location for the home buyers this year.

Specifically highlighting Greater Noida, the area which is comparatively more isolated than Noida, will benefit from this a lot. The fact that the time taken to reach Delhi or even other parts of the town will reduce to the speed of light, has already boosted the interest of the potential home buyer. In a nutshell, the far-flung areas of both Noida and Greater Noida are now connected via lifeline of the capital.  The phase-2 metro will start from Noida Sector 71 to Knowledge Park 5 in Greater Noida. This phase consists of 9 stations, with an estimated cost of Rs 5,503 crore.

Noida Metro Rail Corporation (NMRC) has established the Aqua Line metro project. The Aqua Line will directly connect with the Blue Line Metro. This line in Delhi will be further stretched to Sector 62 in order to develop this link. There will be a total of 21 stations, in sectors 50, 51, 78, 81, 83, 85, 101, Dadri road, 137, 142, 143, 144, 147, 153 and sector 149 in Noida; and Pari Chowk, Knowledge Park-I, Knowledge Park-II, Alpha 1 & 2 in Greater Noida. Finally terminating at the Delta Depot Station, anticipated near the amusing green, Knowledge Park-IV in Greater Noida.

Greater Noida is a paradise for buyers who are looking for an affordable house with amenities, quality construction, and luxury under budget. This is the lone property market where one can get flats under Rs 3,000 per sq ft to 4,000 per sq ft. Also according to the analysts report there will be a 10-20 per cent boost in property prices in the near future and 25-35 per cent appreciation in the long term.

This much-awaited metro line has given Gr. Noida everything that a buyer looks for, be it affordable housing, amenities, expressways, and now it has smooth and affordable connectivity. Only the lack of infrastructure has been the biggest barrier that has hindered the market from becoming the top property market in India. Hence, this metro rail project has been a stepping stone in this town’s journey towards better infrastructure and price appreciation likelihood.

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