Noida Expressway, since inception been a paradise for realty investors be it commercial or residential property. It is also known as Noida-Greater Noida Expressway, which has brought a transformation in the real estate market of Noida. A 25-km high-speed road connects Delhi with Noida and Greater Noida further towards Yamuna Expressway.
Noida Expressway’s realty micro-market is riding high on its connectivity and one of the key selling points of this Delhi-NCR locality. Expressway provides excellent connectivity to sectors developed along with its in Noida and Greater Noida but also with Delhi, parts of Haryana and Uttar Pradesh.
Noida Expressway is well-connected to the Indira Gandhi International Airport (38 km away) via DND Flyover and MG Road. Recently developed Aqua metro line between Noida and Greater Noida gives an impetus to daily commuters. The nearest railway station to Noida Expressway is Nizamuddin (20 km away) and New Delhi Railway Station at 25 km away.
Noida Expressway has presence of several national and multi-national IT/ITeS companies. Firms like Tata Consultancies, Adobe, Birla Soft, KPMG, Cognizant Technology and others have their corporate offices here. Over the years, several multi-national companies established their offices and as per an estimate, more than 60,000 people commute to work daily.
The surge in commercial spaces coupled with exceptional connectivity and continuous infrastructure upgrades has led to rapid residential development in the area.
Realty Market of Noida Expressway
Well-developed infrastructure like knowledge parks, hospitals, shopping malls, schools, colleges and shopping arcades attracts several realty investors and corporate offices to Noida Expressway sectors. It is amongst a few micro-markets in NCR, which has good bending of commercial and residential projects (60:40 ratio). While travelling from Delhi side there are several IT/ITeS, SEZs (Special Economic Zone), BPOs, finance & banking companies that have their offices on both sides of Noida Expressway.
Sectors such as 44, 93B, 94 to 98, 100, 104, 140, and 140A along Noida Expressway have the presence of notable numbers of commercial and residential projects. High-speed network of road, metro line, affordable pricing, and proximity to several parts of Delhi are the major growth driver of this micro-market.
Noida Expressway micro-market due to its excellent connectivity and well-developed infrastructure has attracted several national and regional real estate developers. Supertech Limited, Godrej Properties, DLF, Tata Housing, Bhutan Infra, ATS Infrastructure and many others have their residential and commercial projects in this locality.
Presently, residential property prices are hovering around INR 3,800 – INR 6,700 per sq. ft, at the average price of INR 4,980 per sq. ft. Although, post-2016 residential property prices in this market have witnessed marginal slump due to weak demand sentiments. On the other side, commercial properties have registered substantial growth in its pricing due to spike in office spaces in NCR market. Due to a consistent drop in property price over several quarters, the realty market is now appropriate for investment and the current price looks attractive for end-user and investors as well.
Scope of growth
Attractive property prices coupled with existing and upcoming infrastructures make it a realty hotspot for investment in NCR for investors and home buyers alike.
The upcoming Jewar International Airport in its proximity is likely to have an immediate positive impact on commercial and residential real estate markets along Noida Expressway.
The proposed 2.2 lakh square meter state of art interstate bus terminal in sector 144 along Noida Expressway will enhance connectivity and contribute to economic growth.
Under-construction FNG (Faridabad-Noida-Ghaziabad) Expressway upon completion will improve interstate connectivity of Noida Expressway sectors and contribute to real estate market growth.
In the coming few quarters, the situation of the realty market is expected to head northward and the real estate properties are expected to deliver around 10-12 percent of capital appreciation.