Realty sector in Noida-Greater Noida will get a new lease of life with the plan to expand the Metro network, which will connect new sectors of Noida, Greater Noida, Ghaziabad and South Delhi.
Development authorities have approved a major detailed expansion of the Metro network, which will connect new sectors of Noida, Greater Noida, Ghaziabad and South Delhi. With a total length of 50km and an estimated cost of Rs 12,000 crore, work has started on the project. The announcement will make Noida-Greater Noida a hot destination for real estate development. The much awaited 35km-long Metro line will directly connect Noida City Centre (Sector 32) to Greater Noida. This route will be built on public-private partnership (PPP) model at a cost of Rs 7,500 crore.
The Noida-Greater Noida Metro track via the expressway has already been approved. The Noida and Greater Noida authority will work on a PPP model for this project, which will be independent of the Delhi Metro Rail Corporation’s (DMRC) projects in the area.
An estimated 1.5 lakh house across several new sectors in Noida-Greater Noida are expected to be covered by the new Metro line in the next two to three years. Sectors along Noida-Greater Noida expressway, the forthcoming Noida Extension, Noida’s Sectors 71,72,78,62,etc,are still not covered by the Metro network. To provide direct connectivity, existing Sector 32 Metro line will be extended up to Noida Extension via Sector 72.The 7km-long stretch will cost around Rs 1,400 crore; Noida and Greater Noida authorities, depending on the territory falling under their jurisdiction, will contribute Rs 1,100 of the total cost. At least two stations are proposed to be built on this line. The City Centre Metro station, which is proposed to link Sector 62,will branch out at Sector 71 to take the line till Noida Extension.
Noida has also approved the detailed project reports (DPR) for the extension of existing DMRC services. A 3.9kmline between Kalindi Kunj and Botanical Garden in Noida will be constructed at a cost of Rs 845 crore with Noida chipping in Rs 492 crore of the cost. 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 on Botanical Garden-Kalindi Kunj line is expected to come early. Once the proposal on the Botanical Garden-Kalindi Kunj line gets the nod from the government, Noida will sign a MoU with the DMRC and work would within three months of that date. Of the Rs 845 crore project cost, Noida is expected to shell out Rs 500 crore.
Sanjeev Saran, the chief executive officer of Noida, says: “Noida and Greater Noida authorities were looking for private participation because the project expenses were quite high. We recognize the need for connectivity between Noida and Greater Noida areas, but the project cost was too high for the respective authorities to bear. 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 the end of this year.”
Apart from these, the development authorities have expedited the proposals for widening of two bridges over the Shahdara drain near Film City and before the Okhla barrage. Noida board also approved a centralized emergency helpline number that will cater to police, medical and fire emergencies.”The traffic is increasing by the day and the project will be completed in such a manner that the twin cities of Noida-Greater Noida do not face such traffic problems in the near future, “Rama Raman, the chief executive officer of GNIDA,says.
Manoj Gaur, the managing director of Gaursons Ltd, says: “According to the new proposal to expand the Metro network, a Metro line will pass through Gaur Green City. “These recent Metro project approvals will bring a lot of cheer among buyers and also infuse confidence in the minds of investors and end users about this region.”
Manpreet Singh Chadha, the joint managing director of Wave Infratech, says: “The Noida-Greater Noida Expressway gave teeth to real estate here, and the Metro has added to the good job. Another factor that has worked for Noida is the quality of the infrastructural developments here.”
“The decision by the Noida-Greater Noida authorities for the extension of Metro network would improve the connectivity and reduce the travel time to Delhi, which in turn helps boost the market prospect of this region, “says Achal Gupta, the joint managing director of ASG Developers.
“Expansion of the existing Metro line will help in making up the minds of numerous homebuyers and investors, who were counting upon this prospect for a long time. The recent positive developments in Noida Extension will also encourage the entire industry to continue with the good work in the region, “says Kapil Agarwal, the managing director of AMR Infrastructure.
Noida-Greater Noida, along the expressway
Rs 7,500 core
City Centre (Sector 32),Sector 51,Sector 50,Sector 78,Sector 101,Sector 81,Dadri Road, Sector 83,Sector 137,Sector 143,Sector 147,Sector 144,Sector 153,Sector 149,Knowledge Park 2,Alpha 1,Alpha 2 and Boraki (depot station)
65,000 (peak hours)
Sector 71 to Noida Extension
Rs 1,400 crore
Not decided yet
City Centre (Sector 32) to Sector 62
Rs 1,800 crore
Sector 34/51 near Kendriya Vihar, Sector 71,Sector 61 near Sai temple, Sector 59 (Mamura Chowk),Fortis Hospital, JP Institute (Model Town Chowk) which connects further to Ghaziabad
Botanical Garden to Kalindi Kunj
Rs 845 crore
Okhla Bird Sanctuary (rest being planned)
WITH A TOTAL LENGTH OF 50KM AND AN ESTIMATED COST OF RS 12,000 CRORE,WORK HAS STARTED ON THE PROJECT
THE MUCH AWAITED 35KM-LONG METRO LINE WILL DIRECTLY CONNECT NOIDA CITY CENTRE (SECTOR 32) TO GREATER NOIDA.THIS ROUTE WILL BE BUILT ON PUBLIC-PRIVATE PARTNERSHIP (PPP) MODEL AT A COST OF RS 7,500 CRORE