THE WORST IS OVER,THE BEST IS YET TO BE!

The extension of Delhi Metro line to Greater Noida and the opening of the Yamuna Expressway will bring back investment to this once most promising suburb of Delhi.These two announcements have already spurred positive sentiments,says NAMRATA KOHLI


Things are looking up for Greater Noida after the announcement of a project for the extension of Delhi Metro line to this area,and the prospect of Yamuna Expressway opening to the public shortly.

Work had come to a standstill in this township in May last year after farmers protested about the low compensation and asked for a rehabilitation policy.Their agitation snowballed into a political issue after farmers in adjoining areas joined the protest.

But what seems to bail out this 'down in the doldrums' region is the settlement of the land acquisition issue,the robust infrastructure of the area,and good connectivity.

A spokesperson of GNIDA says,"It is true that work is a bit slow.The past events have had a significant impact on the disputed area.But the matter is now settled."GNIDA has already approved the revised Master Plan-2021,which is a major step in putting to rest the uncertainty over land acquisition issues in Greater Noida.An approval is now awaited from the UP government and the NCR Planning Board (NCRPB) - once this comes,the development work will resume in the area.

Some of the key residential projects at Greater Noida are Unitech Horizon,Jaypee,Omaxe and Ansals Sushant Megapolis.The real estate is still affordable and the average unit capital value at Greater Noida is Rs 3,500 per sq ft.

The recent connectivity initiatives have,however,lifted the realty profile of the area.Even though officially not open,the Yamuna Expressway is already a big hit.This rapid transit corridor between Delhi and Agra is set to reduce the drive from Greater Noida to Agra to just 90 minutes.When the Yamuna Expressway opens,it may become attractive for corporates to move here.

The other significant announcement is the extension of the Metro line till Greater Noida.Neeraj Gulati,the managing director of Assotech Realty,says: "So far commuting to these areas was tough due to the bottlenecks at Noida.The Metro will definitely solve this problem to a great extent,with a smoother and faster connectivity between Delhi and Greater Noida.The decision of extending the Metro line to Noida Extension and Greater Noida will be of great use to the residents,potential homebuyers and the office goers of these regions.We look forward to an enhanced demand for both commercial and residential real estate in these areas."

"Water is abundant,electricity distribution is privatized,roads are the best and overall,Greater Noida is a well master-planned area,"says Dinesh Gupta,the vice-president of Investors Relations and chief operating officer of Hi-tech City Sushant Megapolis.

He says that if you compare running a mall in Gurgaon and Greater Noida,then the cost of operations increase by as much as 33% in Gurgaon,owing to power outages and the use of generators for at least twelve hour."There is no such issue here and physical infrastructure is good.There is seamless signal-free drive from South Delhi to Greater Noida."

Greater Noida authority is all set to revive the ambitious 102-hectare night safari park based on the Singapore night zoo,near Gautam Buddh Nagar University.A spokesperson of the planning department of the Greater Noida authority says: "We have most of the statutory approvals for the night safari project,other than the financial execution model,where we want to proceed with the PPP model.

"If the approval comes through in the board meeting scheduled next week,then we will proceed with the PPP model and the project should be ready in the next three years."

"Greater Noida is now set to become the leisure capital of the Delhi NCR,"says S S Bhasin,the managing director of Bhasin Group.
"Today,Formula One has put Greater Noida on the F1 map of the world.Night safari is the first of its kind in India.Apart from this JP is coming up with a cricket stadium and a golf course.

"And,of course,our Blue Planet aquarium will showcase live flora and fauna flourishing in the seas and oceans including sharks,penguins and other varieties of marine life.All these are good sources of entertainment;unique concepts exhibiting excellent products."

Bhasin says that the work at the Blue Planet is going on at good pace and it would be fully functional in another six months."Our facility is right off the Yamuna Expressway,and therefore,it falls in the golden triangle connecting the three main cities of Delhi-Agra-Jaipur."

QUICK BITES



YAMUNA EXPRESSWAY,THE RAPID TRANSIT CORRIDOR BETWEEN DELHI AND AGRA IS SET TO REDUCE THE DRIVE FROM GREATER NOIDA TO AGRA TO JUST 90 MINUTES.WHEN THE YAMUNA EXPRESSWAY OPENS,IT MAY BECOME ATTRACTIVE FOR CORPORATES TO MOVE HERE



THE OTHER SIGNIFICANT ANNOUNCEMENT IS THE EXTENSION OF THE METRO LINE TILL GREATER NOIDA



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