Greater Noida Real Estate Riding High on Express Way

By: George Gonigal

The 23-km Express Highway between Noida and Greater Noida is the buzzword in the real estate industry of these sibling cities, today. The infrastructure project that would run across 40 sectors of Noida has already started benefiting the properties spread in some 321 hectares in Greater Noida.

According to our reliable sources, land prices alongside the sites of Express Highway have zoomed by more than 40 per cent in the past couple of years. Greater Noida Properties that were trading at Rs 15,000 per sq. yd in year 2005-06 are now selling in range between Rs 22,000 and Rs 32,000 per sq. yd, Rajeev Sharma, a city-based property dealer informed MagicBricks.com

The Advantage

The ambitious project definitely brings the advantage of connectivity to real estate in Greater Noida but another indirect benefit that the facility brings in is the all around development.

The project has brought Greater Noida into limelight, and like any other place real estate developers have identified the underlying opportunities that the city holds within itself.

Not just developers, a number of reputed IT and ITeS companies, and educational institutions have started setting up their units around the project site, of late.

In lines similar to famous site of Pragati Maidan of New Delhi, a huge exhibition facility-India Expo Mart--has also taken shape at a place near to Express Way, in Greater Noida.

Major Residential Developments

Given the kind of positive picture, real estate in Greater Noida has been projecting, country's most prestigious have launched huge residential projects in the city. Unitech has entered the markets with two higher-end residential projects--'Unitech Grande' and 'Unitech Cascades'.

Eldeco has also been developing a residential township spread in about 18-acre, while Omaxe is also not lagging behind in any ways. The group is in fact targeting Non Resident Indians (NRIs) with its 'NRI City' project, though their second project is also an upbeat one and comes under the luxury housing segment.

Moreover, the industry veterans point out that currently there is not much of consumption of residential properties as of now but the long term picture looks promising.

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