Connectivity: Growth engine for realty sector

Mobility and connectivity are social and economic need for everyone. It influences the way people are connected to their work, education, healthcare systems, leisure or social services-related destinations. Private motor vehicles, formal public transportation such as bus, suburban railway, Metro and Monorail, and informal transportation such as autos and cycling make up the entire gamut of urban transport mode. The concept of seamless connectivity introduces a new paradigm in urban mobility to ensure a sustainable, reliable, and well-integrated, high capacity public transportation alternative for the citizens.

An integrated transport network provides people with several options for transport that are efficient in terms of speed, quality, comfort and cost. Consequently, residents are not pressed for choices for residing, working, access to social infrastructure such as medical and educational facilities, or even for entertainment. The concept of smart, connected transport is a hot topic among city leaders looking to ride the wave of innovation to more sustainable, prosperous cities. Despite this, building a truly smart and interconnected urban transport system is more than most cities can hope to do all at once.

Cities with integrated and seamless connectivity can ensure that their physical and economic growth is not restricted to only pockets or stretches but is balanced and sustainable. Thus, a comprehensive development plan for any city focuses on the ease of mobility. As the movement of people shapes the patterns of urban development and future urbanisation, this seamless connectivity in urban transportation will boost the Noida and Greater Noida realty market. This seamless connectivity will introduce a new paradigm in urban mobility to ensure a sustainable, reliable, and well-integrated, high capacity public transportation alternative for the citizens.

Thus, a comprehensive development plan for any city is needed for the ease of mobility. An integrated transport network provides people with several options for transport that are efficient in terms of speed, quality, comfort and cost.

Early Bird Project

As planned by the government under the DMIC (Delhi-Mumbai Industrial Corridor) project the Greater Noida Authority on behalf of Uttar Pradesh government will enter into an agreement with the centre for developing infrastructure for first ‘early bird project’ in integrated industrial townships in the state along the Delhi Mumbai Industrial Corridor.

Under the project ‘early bird projects’, there will be development of Boraki Railway Station as Passenger and Commercial Cargo Hub, Multi Modal Logistics Hub at Dadri, Power Project at Greater Noida, Mass Rapid Transit System (MRTS) between Dadri-Noida-Ghaziabad Investment Region and Delhi.

Road Connectivity

Looking ahead to the possibility of road connectivity in Noida and Greater Noida, both will strategically be located to two National Highways, NH-24 (Delhi-Lucknow), NH-58 (Delhi-Haridwar-Mana Pass) which will be supported by proposed Eastern Peripheral Expressway (Ghaziabad-Noida-Palwal & Kundli-Ghaziabad) of NCR Close to Dadri Railway Junction where Eastern and Western

Freight Corridors meet air connectivity

The foundation stone for a new road linking Greater Noida and Faridabad also improve connectivity and spur all-round growth in the belt and boost infrastructure and trigger growth across sectors. The 24km-long project between Jasana-Cheersi-Manjawali in Faridabad and Atta Gujran in Greater Noida is a part of the developmental initiatives for the NCR. The project will also include a new 600-metre bridge over the Yamuna at a cost of Rs 200 crore. The forthcoming road will improve connectivity between NH-8 in Gurgaon and Yamuna Expressway.

The announcement is altogether good news for the real estate sector, especially homebuyers.

Connectivity of any residential area is utmost importance to the end user. The new road is an opportunity for developers to gain by building new housing projects while homebuyers can hope to grab their dream home at affordable pricing. For example Noida Extension, which is well connected to Noida, Greater Noida, Ghaziabad and Delhi owes its own geographical advantage as it is bordered by Noida on one side, Greater Noida on the other and offers direct connectivity to NH 24. The NH-24 is the only link road between Noida and Ghaziabad. Considering that vehicular movement along this route is expected to increase due to residential and commercial development along the Expressway and in Ghaziabad, where the FNG expressway is expected to ease traffic between the two cities.

Metro connectivity

In development of Metro connectivity in Noida and Greater Noida, the Noida and Greater Noida Authority has prepared a proposal to construct a new Metro line from Mahamaya Flyover to the zero point of the Yamuna Expressway. The two routes will be from Noida City Centre (Sector 32) to Greater Noida, and another from City Centre to Sector 62. The Noida-Greater Noida Metro track will have 22 stations, of which 13 will be constructed at ground level, while seven will be elevated. As Noida and Greater Noida urbanize at an unprecedented pace, it needs to improve transport systems between the two cities. Work on metro rail connectivity between Noida and Greater Noida is expected to ensure a smooth ride to commuters, the Delhi Metro Rail Corporation (DMRC) has planned to connect Noida and Greater Noida through a Metro link.

Airport connectivity

Recorded as the third highest revenue generator for the UP Tourism Department last year, the Noida-Greater Noida belt witnesses the potential to eclipse IT hubs like Bengaluru and Hyderabad. Noida was developed to attract foreign investors and it has succeeded in its aim, as many Japanese and Korean companies have invested in the city. However, the place is not directly connected by air it seems as a major hurdle in the development of Noida. Thus a strong pitch for setting up an international airport in Greater Noida, come across that the airport would cater to traffic from Noida and Greater Noida and help in developing the entire region as an international tourist destination.

A new airport in this stretch will boom the real estate market in the region and could bring home sales back to life, which have been struggling over the past couple of years. Noida lost out over the years purely because it was far away from an airport. Thus a new airport will surely bring in corporate demand with more companies considering it as a secondary location which is cheaper as well. As an outcome it will come in more demand for homes as well.

Conclusion

With many reforms done and regulation brought into function by the new government, Noida Market will surely witness enhanced connectivity and boost in realty market. The upcoming Industrial Corridor and road connectivity, Metro connectivity, expected airport will surely revive the sentiments and play a pivotal role to change the whole picture.

Aman Agarwal, Director, KV Developers
The views expressed in this article are author´s own