Following the sanction from concerned authorities, work on much anticipated extension of the Metro is set to begin soon. Therefore, work on the new metro link between Kalindi Kunj and Greater Noida West will also speed up.
The extension of the Metro link to these new areas will enhance connectivity and slash down the travel time which will ultimately heighten the market panorama of these areas. As per the plan, the authorities of Noida and Greater Noida have already started work to raise 50% of the total fund for the project whereas remaining 50% is expected to come from the central government.
The proposed Metro line will receive fund from both the authorities and built by the DMRC. The proposed Metro line will comprise of 22 stations connecting some of the busiest spots across Noida and Greater Noida. With the approval to the recently formed Noida Metro Rail Corporation (NMRC), the work will start soon on this 29km - long line.
A review meeting of the Metro project also gave its approval to stretch the City Center Metro line by 6.67km to Sector 62, touching NH - 24 and the detailed project report (DPR) for this has been forwarded to UP State government.
The realty prices of areas lying in Noida - Greater Noida Expressway such as Sectors 149, 142, 147, 150, 145, 137, etc are expected to appreciate by a sizable amount.
According to a recent review of cost and construction is pegging around Rs 6,000 crore, which was Rs 5,000 crore earlier, including land cost. The authorities are planning to raise the enhanced cost through selling extra FRA. Out of the total 22 proposed stations, two are future stations, while 15 will come under Noida's jurisdiction and remaining 7 stations would be in Greater Noida.
The enhanced cost will be raised through real estate development by increasing the FAR from existing 2.75 to 3.5 in certain areas. For this, the authorities will develop 1km of special corridors along Noida-Greater Noida Expressway. The FAR would be sold in group-housing projects dotting the expressway.
A detailed extension plan of existing Metro route by 50km has been approved by development authorities at an estimated cost of Rs 12,000 crore. The Noida-Greater Noida Metro track via the expressway will cost around Rs 125-150 crore per km.
According to the plan, a 3.9km line between Kalindi Kunj and Botanical Garden in Noida will be constructed at a cost of Rs 845 crore, of which 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 and the Noida authority will pay Rs 1,923 crore for this project.
The realty market of Noida-Greater Noida will receive a big boost with the extension of the Metro line between the twin cities. The property prices of reputed developers here have already witnessed a 30-35% appreciation in the areas on Noida Expressway and Greater Noida West.
The review from realty experts say that the importance of any residential area in and around Delhi depends on its connectivity to Delhi and the travel time taken to a particular location to capital city. Therefore, this metro extension will boost the market prospect of this region.
The extension of the Metro link to these new areas will enhance connectivity and slash down the travel time which will ultimately heighten the market panorama of these areas. As per the plan, the authorities of Noida and Greater Noida have already started work to raise 50% of the total fund for the project whereas remaining 50% is expected to come from the central government.
The proposed Metro line will receive fund from both the authorities and built by the DMRC. The proposed Metro line will comprise of 22 stations connecting some of the busiest spots across Noida and Greater Noida. With the approval to the recently formed Noida Metro Rail Corporation (NMRC), the work will start soon on this 29km - long line.
A review meeting of the Metro project also gave its approval to stretch the City Center Metro line by 6.67km to Sector 62, touching NH - 24 and the detailed project report (DPR) for this has been forwarded to UP State government.
The realty prices of areas lying in Noida - Greater Noida Expressway such as Sectors 149, 142, 147, 150, 145, 137, etc are expected to appreciate by a sizable amount.
According to a recent review of cost and construction is pegging around Rs 6,000 crore, which was Rs 5,000 crore earlier, including land cost. The authorities are planning to raise the enhanced cost through selling extra FRA. Out of the total 22 proposed stations, two are future stations, while 15 will come under Noida's jurisdiction and remaining 7 stations would be in Greater Noida.
The enhanced cost will be raised through real estate development by increasing the FAR from existing 2.75 to 3.5 in certain areas. For this, the authorities will develop 1km of special corridors along Noida-Greater Noida Expressway. The FAR would be sold in group-housing projects dotting the expressway.
A detailed extension plan of existing Metro route by 50km has been approved by development authorities at an estimated cost of Rs 12,000 crore. The Noida-Greater Noida Metro track via the expressway will cost around Rs 125-150 crore per km.
According to the plan, a 3.9km line between Kalindi Kunj and Botanical Garden in Noida will be constructed at a cost of Rs 845 crore, of which 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 and the Noida authority will pay Rs 1,923 crore for this project.
The realty market of Noida-Greater Noida will receive a big boost with the extension of the Metro line between the twin cities. The property prices of reputed developers here have already witnessed a 30-35% appreciation in the areas on Noida Expressway and Greater Noida West.
The review from realty experts say that the importance of any residential area in and around Delhi depends on its connectivity to Delhi and the travel time taken to a particular location to capital city. Therefore, this metro extension will boost the market prospect of this region.
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