Realty in Yamuna Expressway provides connectivity while it is variety that is on offer in Greater Noida.
Yamuna Expressway scores on factors like accessibility, affordable rates, and planned development.
Vikas Sharma of Captivates Consultants says that accessibility in the region will accelerate land development along the Yamuna Expressway in a planned manner for commercial, industrial and residential purposes. Once the expressway is operational, property rates may double in the Yamuna Expressway, he says.
Some of the prominent developers here are Jaypee Group and Unitech Ltd. Sports City project by Jaypee offers plots at the rate of Rs 15,000 to 18,000 per sq yard with size ranging from 250 sq yard to 4,700 sq yard. There has been an 11% hike in locality prices in the past one year.
On the other hand, Greater Noida is considered to be a developed hub in the NCR. A local consultant, V Kalra, says: "The yearly growth here is 10-15% and more is expected in the next five years." He adds: "The past few years have seen almost every type of property up for sale in Greater Noida,
be it independent floors, villas, houses or apartments."
Honey Katiyal, the chief executive officer of Investors Clinic Infratech Pvt Ltd, says that Noida Expressway is one of the best options to consider currently, as a lot of companies and institutional areas, IT parks, 5-star hotels, etc, are coming up on both sides of the expressway. Connectivity with South Delhi is also one of the prime factors, he says.
The active developers in Greater Noida are Logix Group, Amrapali, Supertech Ltd, 3C Company, among others. The rate of a fully furnished house is Rs 30,000 per sq metre and the unfurnished houses range from Rs 20,000-21,000 per sq metre.
Mohit Arora, the director of Supertech Ltd, says on an online chat forum on MagicBricks that all investments in Yamuna Expressway will yield very good returns in the short term. As soon as the expressway is operational, up to Agra, prices are expected to double. "Some people estimate that the appreciation will be up to 300%," he says.
Mukesh Karn of Varnish Properties says that buyers still prefer Yamuna Expressway to Greater Noida due to their decent prices. However, brokers are optimistic about both these areas and say that both will flourish in the next threefive years.
Pankaj Bajaj, the president of CREDAI, NCR, says that the investments in Yamuna Expressway will take off after the expressway to Agra becomes operational, which is expected to happen in the next couple of months. "After F1 event, quality of infrastructure has become very good. It is inevitable that growth will happen in the near future.
