Noida and Greater Noida have been marked as the key real estate destinations in the National Capital Region. While Noida is seen as an end user market, Greater Noida is rising as the favorite spot of the investors due to its rapidly developing infrastructure. Being close to the country’s capital, these two areas have been receiving a great deal of attention from UP government.
Over the past 10 years, the infrastructure of Noida has developed manifolds. Wider roads, underpasses, flyovers, highways and expressways, India’s first Formula One racetrack and a better social infrastructure has put the city on buyer’s hotlist. Greater Noida, on the other hand, was earmarked to be developed as the first smart city after the government announced to developed 100 smart cities in the Union Budget 2014.
Recently, the government has decided to roll out projects worth Rs 7000 crores in the Twin Cities. The approval of the Noida-Greater Noida Metro has given a considerable push to the city’s realty market. Other projects related to the affordable housing scheme are also in the pipeline. More underpasses, elevated roads and flyovers are expected to be developed in the coming years.
The CM is about to inaugurate an affordable housing project worth Rs 1200 crores across sector 116, 117 and 118 that would offer 2000 flats for EWS and LIG buyers. As a relief to the burgeoning population of the Noida-Greater Noida region, more flyovers will come along the expressway near sector 142. Moreover, 3 underpasses and a solar power plant has also been planned for Greater Noida.
It is evident that the growth of real estate sector is directly proportional to the development of infrastructure in the area. Noida-Greater Noida Metro is a major step to create housing demand in Greater Noida, which is low as of now due to poor connectivity. The UP government has finally put forward its affordable housing policy in sync with the ‘Housing for All’ scheme. All these plans and schemes will initiate developments in various new pockets of the Noida-Greater Noida region which would come as a major breakthrough in NCR real estate market.