The development authorities of Noida and Greater Noida have provided immense relief to lakhs of homebuyers who booked their dream homes there with a new plan to have a direct Metro link between the twin cities.
The present announcement would make Noida-Greater Noida a hot destination for real estate development. The plan envisages direct Metro connectivity with Noida Extension, Greater Noida, Ghaziabad and South Delhi.
Work has begun on this project which has a total length of 50km and is estimated to cost Rs 12,000 crore.
With this the much awaited 35km-long Metro line will directly connect Noida City Centre in Sector 32 with Greater Noida. This route will be built on a public-private partnership (PPP) model at a cost of around Rs 7,500 crore. The Noida-Greater Noida Metro track via the Expressway will be built independently of the Delhi Metro Rail Corporation’s (DMRC) projects in the area. With more than 1.5 lakh houses estimated to come up in this area in the next one-two years, the Metro is expected to cover most of them when it is extended.
Several sectors in Noida-Greater Noida Expressway, the forthcoming Noida Extension, Noida’s Sectors 71, 72, 78, 62, etc, are yet to be covered. A proposal for a PPP project to link these areas has been sent for approval to the state government. The service is expected to cover around 50km.
To provide direct connectivity with the existing line at Sector 32, the Metro will be extended up to Noida Extension via Sector 72. The 7km-long stretch will cost around Rs 1,400 crore; the Noida and Greater Noida authorities will raise Rs 1,100 crore, depending on the territory falling under their jurisdiction. At least two stations are proposed to be built on this line. The City Centre Metro station, which is proposed to link
Sector 62, would branch out at Sector 71 to take the line till Noida Extension.
Recently, the Noida authority also approved detailed project reports (DPR) for the extension of the existing DMRC services. A 3.9km line between Kalindi Kunj and Botanical Garden in Noida will be constructed at a cost of Rs 845 crore. The Noida Authority will pay Rs 492 crore. Another extension will also be made on the line from Sector 32 to Sector 62 at a cost of Rs 1,816 crore. This will be 6.6km long.
The authority has sent both these proposals to the Uttar Pradesh government for approval. The sanction for the Botanical Garden-Kalindi Kunj line is expected to come early.
Once the Botanical Garden-Kalindi Kunj line gets the nod from the state government, the Noida Authority would sign a MoU with the DMRC and work could start within three months. Out of Rs 845 crore that the project would cost, the Noida authority is expected to shell out Rs 500 crore.
Sanjeev Saran, the chief executive officer of the Noida Authority, says: “While we recognize the importance of connectivity between the Noida and Greater Noida areas, the project cost was forbidding; so, we are looking at the PPP model. Project tenders will be floated in the next four to six months and construction will begin by end of this year.”
Apart from these, the development authority has put the proposals for the widening of two bridges over the Shahdara drain near Film City and before the Okhla Barrage on fast track. The Noida authority also approved for a centralized emergency helpline number that will cater to police, medical and fire emergencies.
Rama Raman, the chief executive officer of Greater Noida Industrial Authority (GNIDA) says: “The traffic between Noida and Greater Noida is increasing exponentially and this Metro link project between the twin cities will considerably ease that problem.”
Anil Sharma, the chairman and managing director of Amrapali Group, says: “The new Metro alignment plan will give those living in Noida Extension a reason to cheer. So far, the City Centre was the last Metro station on the Noida line. This line, which is expected to be in place in the next two-three years, will make Noida Extension an attractive destination for residential realty as it would provide a seamless travel to Delhi.”
Rakesh Yadav, the managing director of Antriksh Group, says: “Noida’s real estate got an immense boost once the Metro connectivity was in place. With the entry of the Metro, people have even started investing in places which were seen as far off a few years ago. Much like the Noida-Greater Noida Expressway, the Metro has added teeth to real estate here. Another factor that has worked for Noida is the quality of infrastructural developments here.”
Ashwani Prakash, the executive director of Paramount Group, says: “The importance of any residential area around Delhi depends on its connectivity to Delhi and the travel time from that area to Delhi. The decision by Noida-Greater Noida authorities for the extension of the Metro network will improve connectivity and reduce the travel time to Delhi, which in turn will boost the market prospect of this region.”
R K Arora, the chairman and managing director of Supertech Limited, says: “Connectivity has become one of the prime factors for people while investing in any property. The new Metro links will benefit lakhs of people residing and commuting in the region. This will also help in clearing any uncertainty or doubts in the minds of numerous homebuyers and investors who were counting upon this decision, which to them means secure investment. Also, the positive developments in Noida Extension will boost the realty sector here.”
This new Metro linkage will bring back the confidence of investors and end users in this region. It’s now a win-win situation for builders and customers. The work is expected to resume soon and it will attract more investments in the region with a credible promise of good returns.