Although most of the projects involve high investment, projects for middle class and limited budget buyers are also to be developed in a 3 to 5 km stretch along the expressway with proposed rate of Rs. 5000 to Rs. 7500 per square feet. As per Deepali Singh, Business Head of 99Acres.com, a web property portal, the already existing properties are experiencing appreciation in last one and a half year of nearly 80%, where the rates went up to Rs 2,900 psf from Rs 1,600 psf.

Some high-end projects are going to change the residential scenario entirely. The upcoming two premium residential projects from Unitech, Unitech Cascades and a golf-themed residential condominium Unitech Grande, are already receiving great attention from the property seekers.. Omaxe, another major player has launched their premium luxury residential projects like The Forest and the NRI City along the expressway. Utopia, the project from Eldeco, which is spread over a sprawling 18 acres of land, will have every facility a resident may look for. Omaxe is also going to develop the City Center Mall with a proposed budget of Rs. 50 crore on the expressway that promises a “Singapore-like” shopping experience and going to be the next happening place in the NCR. According to Mr. Rohtas Goel, CMD of Omaxe Ltd, the Noida-Greater Noida Expressway going to experience a “never seen before” developmental activities spanning residential, commercial, as well as institutional sectors in coming 10 years. . As Dr. Chauhan puts it, this area is going to provide the facilities to residents within their reach with all social and commercial infrastructures. Amity University has contributed a lot toward this phenomenal growth. Because of their presence, developers started considering the area as potent of residential projects.

The India Expo Mart, Noida’s answer to Delhi’s Pragati Maidan, is already operational, which has come up at the end of the Greater Noida expressway. Along the expressway a knowledge park is proposed to come up which will have 24 engineering and management institutes. At the Noida end of the expressway, in sector 93, the existing landmarks are Amity University, Lotus Valley School, Logix Techno-Park, Mayoor International School, Parasvnath Prestige Apartments, and ATS Green. As per the plans of Noida Authority, Arogya Dham, a super-specialty, international standard medical city is to come up along the expressway on over 50 acres, which will also have commercial establishments, residential options for the attendants, wider roads, lush green landscape, and parks and open spaces.

Realty In Fast Lane

The Expressway having 8 lanes connects Noida and Greater Noida to Agra. Such connectivity promotes the property in these two lucrative locations to be more and more promising.

Special Economic Zones (SEZs), hotels, and commercial and residential complexes are appearing on the expressway between Noida and Greater Noida. This development has got potential for all real estate categories to have aggressive and sustained growth. The expressway has 40 sectors along its sides. Noida Masterplan has formed four zones on these sectors. Purpose behind such plan is to establish balanced development in spite of population explosion. The total length of the expressway measures nearly 23 kms. Out of this, Greater Noida occupies 3 kms and the rest goes to Noida. Greater Noida encompasses 321 hectares of land. The Expressway is only a kilometer away from this land. This is drawing best attention for realtors, IT units, and educational institutes and many others.

More IT and IT enabled service units to come up on both sides of the expressway as per the proposed plan of Noida Authority. This decision has created quite a flutter among IT companies that is reflected in the sudden increase in demand for land. This in turn presented a big appreciation in the realty price for the adjoining areas. Dr. Ashok K. Chauhan, the founder-chairman of Amity University, which is one of the most prominent and prestigious institutions located in the area, observed land prices to go up from Rs 15,000 per square yard to Rs 22,000-32,000 per square yard within two years. The expressway, as it brings Delhi nearer to Noida and because of the availability of high-end residential condones including all modern facilities, is going to give a further boost to the IT industry. As the land prices over the entire NCR soaring high, for information technology industry, it is the only viable option to get hold of wide areas to set up big campuses within their budget. Dr. B.P. Dhaka, the COO and spokesperson of Parsvnath Developers Ltd. proclaims the real estate options and infrastructure available today in Noida to be modern, competent, and complete. He also adds emphasis on the green and clean ambience available along the expressway.

Noida authority has plans to develop an international standard sports complex along with other prestigious projects in the area. The budget for the sports complex will be around Rs 50 crores and will have setups for multipurpose indoor stadium, an exclusive stadium for athletics, football and cricket fields, bowling alley, and many more. Officials have plans to organize few events in this complex during the 2010 Commonwealth Games. By that time there will be another global standard 18-hole golf course that has a proposed budget allocation of Rs 37 crores. The authority finally selected a plot in sector 101 that measures over 180 acres and falls on the Zone 3 of the expressway.

The Greater Noida Industrial Development Authority or GNIDA also has a plan to develop an IT park that would exclusively support the infrastructure requirement of the IT industry. The park will be self-sufficient with all available integrated options like fully developed state-of-the-art office spaces along with needed social infrastructure.

In the last financial year Noida Authority earned revenue worth of Rs 90 crores only from the SEZs. The new IT SEZs also show great promise. The multipurpose SEZs, which are to come up along the expressway over 2,500 acres of land will be divided into industrial, residential, commercial, and recreational sectors.

As per Dr. Dhaka, these new developments have attracted more business houses to set up their establishment in Noida. Newly established manufacturing units have fuelled the requirement of more skilled workforce. Till now, 9 IT bigwigs have acquired 25 acres each along the expressway in sector 143 and 144 for setting up their units here.

Several sub-stations along with two 220-kv stations are to come up to support the fast-paced development with an allocated budget of Rs. 500 crores. P.C. Gupta, Deputy Chief Executive Officer of GNIDA, elaborates on plan to set up exclusive power plants for Noida and Greater Noida. He also informs on the monorail project that would traverse a circular network and going to strengthen the connectivity further. The estimated project cost is Rs. 3,300 crores. India Railway has already approved a rail connection between Tuglaqabad and Greater Noida along the expressway.

Mr. Gupta also informs on the ongoing sewer network project that is taking place along the expressway. A futuristic Master Plan 2021 has also been envisaged. He emphasized on the need of putting the infrastructure in place before the development takes place. Three more flyovers will be ready within coming 10 months. The entire length of the expressway would be wi-fi enabled. According to Mr. Saurabh Koiri, Business Development Head of Hotpropertyindia.com, these massive developmental works going to brighten the prospects of the properties to a great extent, and the momentum can only be compared with that of Gurgaon.

The speed of infrastructure development in Noida is going to be accelerated by many degrees with fast track projects like the Taj Expressway. According to Deepali Singh, with the continuing developmental projects and the plan of an international airport, the land prices would soar high very quickly. Saurabh Koiri rightly pointed out the appreciation of the properties situated in and around the expressway and how it has just doubled over last three years.

Dr. Dhaka is of the opinion that both Noida and Greater Noida developed gigantically over the last few decades. Till sometime back, they were the second choice after Gurgaon. The situation has however reversed with upcoming high-end sophisticated residential and commercial projects. The prices are to touch sky in the coming days with huge projects like Metro Rail.

Realtors, property consultants, developer, and anyone associated with the real estate sector can perfectly guess the future of the area around the Noida-Greater Noida Expressway, which is evident with their level of enthusiasm.