The Yamuna Expressway connects Greater Noida to Agra, enhancing the realty prospects of the nearby spaces. Whenever a new development or an announcement happens, a pool of positive sentiments starts floating around that gives a sudden rise to demand.
The years 200508, witnessed NCR realty sector’s best times, where capital appreciation and demand were a few of the parameters that judged its positive performance. During those very formative years, several regions in NCR came up and promised long term growth and success. Although, by the end of 2008, global recession had adversely impacted economies, industries and sectors; where realty sector was no exception. Developers show great deal of opportunities in the Expressway and in the long term, the vision looks great and promises returns in the coming days.
The 165km long Yamuna Expressway connects Greater Noida to Agra, enhancing the realty prospects of the nearby spaces. Whenever a new development or an announcement happens, a pool of positive sentiments starts floating around that gives a sudden rise to demand. In case this demand is not met on time, the negative side of it becomes prominent. The moment this news of developing a roadway connecting Greater Noida to Agra came up, developers come out with lots of projects. Initially, the sales were very high but the infrastructure could not come up on time, as a result the demand took a tumble. “The infrastructure in the region could not cope up with the kind of supply realty sector provided. Investors began running away from the market as the acceptance quotient got weak over time. The demand for housing along Yamuna Expressway has started to pick up pace as investors are making a strong comeback. The news of Jewar airport has come in as a catalyst that will lead to a positive impact on the demand in near future”, says Ashok Gupta, CMD, Ajnara India Ltd.
A Better Future Script
“The Yamuna Expressway is not a primary development, it is tertiary. It has the infrastructure ready around which real estate could build up. In fact, with huge land parcels available along the entire stretch of the expressway, development can be fast paced. The future is very bright for this area as can be judged by the push it is getting time and again. A lot many people have already invested in this region banking on its potential and growth it will see in the years to come. Massive scale developments are lined up in the area. Once the running projects are near completion and families start moving in, it will automatically generate a catchment area for future commercial establishments”, enlightens Manoj Gaur, President CREDAI-NCR & MD, Gaursons India Ltd. With over two dozens developers offering over a hundred projects, there is already a lot of supply available in the region.
The demand for housing along Yamuna Expressway has started to pick up pace as investors are making a strong comeback. The news of Jewar airport has come in as a catalyst that will lead to a positive impact on the demand in near future.
On the government front, residential development is carried at sectors 18, 20 and 22D, with Sector 13 being a mixed land use region. Affordable housing has also been promoted at Sector 22D with 22E coming up as an institutional sector. Sector 32 and 33 are being planned as industrial sectors with plans for LIG and HIG development in Sector 22D as well. Development plans for two power stations of 33KV are in place along with a multipurpose bhawan. Even PPP model is quickly gaining momentum with a lot more civic facilities to be made available soon. Thus, on the residential and infrastructure fronts, government and the concerned authority are working diligently to take this region to a next level. “The development of night safari, electronic manufacturing hub and IT zone are bound to generate employment in the region and boost the requirement of residential properties in the region. Presently, YEIDA (Yamuna Expressway Industrial Development Authority) has developed lower/ middle income group residential schemes and private developers have also stepped in with various projects. It is expected that after 3-5 years, this area is likely to be connected by the metro. This region has its own future and would definitely grow with good infrastructure and is expected to give good returns to the present property investor”, says, Ashwani Prakash, Executive Director, Paramount Group.
Speaking about the current real estate scenario and future prospects of Yamuna Expressway as a region, Vikas Sahani, CMD, Property Guru concludes, “At present, this region is witnessing a strong work by the authority towards the infrastructure front which will be the real game-changer for the realty sector of the region. Investors planning property purchase for long term, are most welcome, but the current scenario is not that good for the short term investors or even end users. If Jewar airport and metro come up in the vicinity, this will hugely benefit the region and its neighbours; which in the long run will shape Yamuna Expressway into a skyline of NCR realty.”