Metro extension boost up micro markets in Noida
The new metro extension of two metro lines-one in Noida and another in Faridabad will be soon cleared by the Delhi Metro Rail Corporation (DMRC). In this extension, metro line from Noida City Center to Sector 62 and YMCA Chowk in Faridabad to Ballabhgarh have also been included in the board’s agenda.
After Delhi CM Sheila Dikshit denial to DMRC’s proposal for taking up new projects outside NCR, this two projects are on table for approval. The CM wants to complete the on going projects inside the region first then to come up with new projects outside NCR.
The Noida and Faridabad projects are already been approved by the sub-committee. As soon as the board approves it the work will start. According to Union urban development ministry official extension of Metro is essential for the entire NCR.
Budget and metro extension destination:
Although DMRC officials did not divulge estimated costs of the two projects, it is decided that 80% of the investment will come from state governments of Uttar Pradesh and Haryana.
This project will be of 6.7km from Noida City Centre-Sector 62 and will be routed to six stations at sectors 34, 52, 59, 61, 62 and Electronic City (NH-24, Ghaziabad border). There is an another proposed metro by the authority for extension of route by 3.9 km between Kalindi Kunj and Botanical Garden having two stations.
New metro extension project will bring good connectivity between YMCA Chowk to Ballabhgarh for better connectivity. For now the work on 14km Badarpur-YMCA Chowk stretch is on and it is likely to be operational by 2016 when Delhi Metro’s Phase-III will be completed.
Real estate graph and price trends:
In sectors like 34,53 in Noida, already builders like Supertech and Gaur Sports Wood are coming up with new projects. This connectivity will encourage other builders to invest particularly in this sectors.
The current price trend is Rs 4000 per sq ft, after the extension is completed there is a chance for the price to go up. Hence, metro extension will now boost up the real estate investment in micro sectors in Noida.
