The Delhi-NCR real estate market is in for a major infrastructure boost as per reports. This has naturally got developers excited since the Noida property market is already witnessing rapid growth courtesy the announcement of the Jewar market and this new development may scale up sales volumes and demand even further.
DMRC has now been instructed to create the report on traffic viability for the Delhi-Jewar Airport metro corridor and also the techno-feasibility report which covers projections of overall flow of traffic from Noida, Haryana and Delhi alike.
DMRC set to boost Delhi-NCR realty market with new metro line
The upcoming Jewar International Airport is expected to be a booster dose for the Noida real estate market in the near future. Here are some key facts worth noting in this regard:
- The Jewar International Airport at Uttar Pradesh will soon get a metro corridor.
- YEIDA (Yamuna Expressway Industrial Development Authority) has already directed the DMRC (Delhi Metro Rail Corporation) to make its report on the traffic flow expected on this stretch.
- DMRC officials have already presented extensively on the metro line at the requisite authority office.
- Talks have already held on the proposal for connecting the metro railway network till the Jewar Airport from the Knowledge Park 2 instead of connecting it from the Pari Chowk location.
- YEIDA got the feasibility report for the Delhi-Jewar airport metro line in February 2019 from the DMRC.
- There was the initial proposal for connecting Pari Chowk in Greater Noida to the Jewar Airport.
- 25 metro stations have already been proposed. The cost of the metro project has been estimated at approximately Rs. 5-7,000 crore.
- DMRC will now be making the techno-feasibility and traffic viability reports for the metro link and this will cover the projections for flow of traffic coming from Noida, Haryana and New Delhi.
- The Delhi-Jewar airport metro route will soon start operating in order to ensure smooth connectivity of Delhi-NCR to the Jewar International Airport.
- The new airport metro railway network will enable passengers to directly travel to the airport terminal from Greater Noida.
- YEIDA has already stated that the metro line should be fully ready to start functioning from the year 2023 since the Jewar International Airport terminal should also start functioning from 2023 itself.
- The feasibility report provided by the DMRC is expected to assessed by the UPMRC (Uttar Pradesh Metro Rail Corporation) for exploring the scope of funding this new project.
- In the project, 8 stations will be in the area which comes under the jurisdiction of the Greater Noida Authority and the 17 stations remaining will be located in the area under the jurisdiction of the Yamuna Authority.
- The distance between the two metro stations is expected to be anywhere between 1 and 1.45 kilometres and 2.7 kilometres of metro tracks should be within the area covered by the Jewar International Airport.
- This metro will go on the airport route with few stops to cover the distance between Jewar and New Delhi. This will ensure faster connectivity to the airport for passengers.
- Another metro route on this corridor will be like the other lines with stops at all the stations falling on the stretch. This will run for those living in and around the area under the Yamuna authority. They will have separately demarcated metro lines at the stations.
- The new metro line to the airport will naturally boost connectivity between the Jewar International Airport and the Capital and will spark rapid real estate growth along the entire corridor and also in surrounding areas.
- The authorities are working to get the report prepared swiftly in order to complete all formalities before commencing work on the project.
- The goal is to simultaneously commence construction of the airport metro corridor and the airport itself.
This could be big news for the Noida realty market and also some parts of the Delhi-NCR which are nearby. Noida is already seeing a pick-up in residential demand and this is literally the icing on the cake in recent times.