The UP government has recently approved the much awaited Metro line which will connect Noida’s Sector – 71 to Greater Noida’s Knowledge Park V. The proposed metro line is expected to be 15 Kms in length and is expected to be completed by 2021 which the NMRC has confirmed. The project would come at a cost of an estimated INR 3,884 Crores, the entire sum out of which has already been approved by the Ministry of Urban Development (MoUD) in June this year.
The region is already a proven gem in the eyes of many developers and with the affordability quotient attached, is a hit among homebuyers as well. Real Estate market is a complex mix of developers, investors and end users. When one talks about the current set of buyers, one needs to understand that the current market is very much driven by end users and not investors, that too in the affordable housing segment. Any person or family getting a house in the region would require transportation to commute and we very well know how important is the need of public transport in the overall development of the region.
The proposed metro will not only boost the living quotient of the region but also allow commercial setups to blossom because it will increase the catchment area for such projects and prevent them from being isolated. Greater Noida West or Greno West as it is generally referred is destined to witness possessions in tune of thousands in the year ahead which will mean thousands of families shifting in. Metro connectivity should not be the end game towards infrastructure development of the region and efforts should be continuously made to increase the ease of transportation for the commuters.
Avneesh Sood, Director, EROS Group has his own say on this. He says, “Greater Noida West, at present is one of the best destinations for investment in NCR. That factor will now be exponentially boosted because of the proposed metro connectivity. With many of the projects in the region nearing completion and a huge chunk of population already residing, better connectivity is sure to add more stars to the shoulders of this region. We soon expect to see many more such announcements regarding various other public amenities which are in the pipeline and help the region achieve greater heights.”