With the decision of the state and central government to fund Rs 1,050 crore for metro connectivity to the upcoming Jewar Airport, the real estate sentiments have seen an immediate boost. There has been a sudden jump in enquiries by prospective home buyers for projects lying in the area.
The state and central government recently decided to provide funds to the tune of Rs 1,050 crore for metro connectivity to the largest airport of Asia. Even the Yamuna Expressway Industrial Development Authority has decided to invest Rs 450 crore for the metro project. Ever since these decisions have been taken, real estate developers are witnessing a number of home buyers coming forward and making enquiries about the housing projects. The number of enquiries is the highest for projects along the Yamuna Expressway as this place has already seen fair amount of development in the last 3-4 years.
“The Yamuna Expressway region has been replete with the best of real estate developments and plenty of options or buyers among integrated townships that offer superior comforts with school and markets within the premises. Now the metro train connectivity is going to be yet another attraction for the end users. Many people who were sitting on the fence for buying property in this region are now coming forward and making bookings,” said Manoj Gaur, CMD, Gaurs Group.
There were quite a few real estate companies that were active in this region and have built many housing projects and some commercial properties as well. Houses in these projects have been occupied to an extent and these residents are also excited and looking forward to metro train connectivity.
“The people already living here are really happy that metro is now coming near their home. Those who have been waiting for even better connectivity from the rest of Delhi NCR are now coming forward and showing interest in buying properties here. The number of enquiries has gone up by 220 percent recently in our projects,” said Ashok Gupta, CMD, Ajnara India.
The prospective home buyers are looking forward to buying a house here as the region is really green and not yet densely populated. The quality of life in this area is fairly high and there is limited scope of traffic jams.
“The metro train connectivity will further add to the charm of this region. One can expect 8-10 percent jump in property prices here as soon the construction of the metro project starts. The whole proposition of buying properties here has shown remarkable improvement in the last few months with positive developments coming in one after another. Those who purchase properties here right now will benefit due to price escalation after metro,” said Ankit Kansal, Founder & MD, 360 Realtors.
The government of Uttar Pradesh has been coming up with a lot of infrastructure projects in this region like expressways, highways, bridges, flyovers etc in the last few years and all these add to the attraction of this location for both residential as well as commercial projects. There have also been many new and interesting developments like setting up of Formula 1 tracks and large cricket stadium in the recent past.
“Yamuna Expressway has been evolving as a promising real estate market. It now has excellent road connectivity, a number of schools, and social infrastructure too. Data with PropTiger.com shows property prices in the area ranges between Rs 3,200 – 3,400 per square foot on Yamuna Expressway, and the average rent for a 2BHK flat being Rs 14,000 per month. Considering the upcoming Jewar Airport, Metro line and other benefits, the future prospects of the area are very bright,” said Mani Rangarajan, Group COO, Housing.com, Makaan.com and Proptiger.com of Housing.com.
The region has developed into an important commercial hub in Delhi NCR. There have been a lot of industrial properties in the area and also a number of IT companies have also set up their offices here to seat their employees. Then there are hospitals, hotels and malls that are either coming up soon or have already commenced operations. These factors are making this region a wholesome and self-sufficient real estate destination, with lower property prices to root for.
There are ultra luxury villas and bungalows to choose from in this region. Then there is a plethora of studio apartment also. Thus, there is no dearth of choices for those who are looking for a home in the most developed green belt of the state.