The advent of Aqua Metro line has been quite a welcome note for the development of real estate business in Noida and Greater Noida. It has impacted the prices of real estate properties in the respective areas. In most of the inexpensive residential real estate bracket such as Greater Noida West, deficiency of social, physical or economic structure has led to property projects. This is the reason that the news of metro’s expansion to Noida Extension has added to the rise in property rates. In this regard, Greater Noida Industrial Development Authority has permitted the extension of Phase-2 metro linking Noida Sector 71 to Knowledge Park 5 in Greater Noida
This extension has come as good news for real estate investors in Noida Extension area. Certainly speaking, the extension of metro line will give a boost to the affordable housing projects that were lying untouched. It was the lack of public transport, non-connectivity to Delhi or nearby areas that posed an obstacle in the way of accessing affordable real estate properties. This will save people from getting troubled because of the heavy traffic jams in peak hours. Even, the developers and property analysts agree to the fact that extension of metro will open gates for the investors, who are looking for affordable options.
Speaking in this regard, Nikhil Hawelia, managing director of the Hawelia Group, stated will surge by 10 to 20 percent in the short run and 25 to 35 percent in the medium as well as long term. This can be done if pending projects are completed without any further delay. The Hawelia Group has certain on-going projects in the region that has Aqua Metro Line.
It should be noted that property market in Greater Noida West has everything that an affordable investor is looking for. This may be measured as brilliant development in the segment, facilities and not-to-miss price points. One should check out the fact that this real estate market is the only one catering to affordable housing properties in every package. One can look out for apartments at price points below Rs 3,000 per sq. ft, while inexpensive luxury properties are available on an offer around Rs 4,000 per sq. ft. Definitely, the beginning of metro rail marks the opening of an structural rise for Greater Noida West with possible price increase.