NEW DELHI: Real estate in Noida and Greater Noida appears to gain out of several infrastructure projects announced in the past few years. With already efficient road-connectivity and the upcoming Noida Airport in Jewar, the region is again in the limelight for bullet train connectivity.
The National High Speed Rail Corporation Limited (NHSRCL) have recently held a preliminary discussion with the Gautam Budh Nagar administration over land requirements for the two stations in the district. One station will come up in Noida Sector 144 and the other at Noida airport terminal one in Jewar.
This stretch is a part of the Mumbai-Ahmedabad High Speed Rail Corridor. The Delhi-Varanasi high speed rail corridor will have 12 stations. Proposed stations are Delhi, Noida, Jewar Airport, Mathura, Agra, New Etawah, South Kannauj, Lucknow, Raebareli, Prayagraj, New Bhadohi and Varanasi.
More than 160 hectares of land is required from GB Nagar for the Delhi-Varanasi high-speed rail (DVHSR) bullet train corridor. Out of this, a little over 60 hectares needs to be acquired from farmers as the rest of the land belongs to the government.
There will be a detailed study to be conducted which will also assess the population and traffic footfall in this region. This report is expected in August-September. The height of the elevated corridor for the bullet train will be 9-10 metres.
The light detection and ranging survey (LiDAR) survey for the proposed Delhi-Varanasi high-speed rail corridor was conducted on January 10 from Greater Noida.
LiDAR works on the principle of light detection and ranging where laser pulses are red from the helicopter to scan the ground. The data thus collected over the entire stretch was further processed and used to create a digital terrain surface and digital elevation model.
The project report for the Delhi Varanasi High Speed Rail Corridor has already been submitted to the Ministry of Railways on October 29, 2020. The DVHSR Corridor will connect the National Capital Territory (NCT) of Delhi with major cities like Mathura, Agra, Etawah, Lucknow, Raebareli, Prayagraj, Bhadohi, Varanasi and Ayodhya.
The Delhi to Varanasi corridor, which is approximately 800 km, will also be connected to Ayodhya. The High Speed Rail (HSR) route will connect the upcoming international airport at Jewar.
Real estate boom
According to recent Magicbricks data, Both Noida and Greater Noida have recently witnessed a surge in demand for bigger size homes. A 3BHK continued to hold 65% of the demand in the residential market here. Noida Extension, Central Noida and Noida Expressway continue to remain in high demand with highest supply coming along the Noida Expressway. These are also top searched mirromarkets by consumer searches.
Aman Trehan, executive director, Trehan Iris, says, “The proposed Delhi – Varanasi Bullet Train project will offer many avenues for economic and Infrastructural development in Delhi NCR with Noida being the Ist and Jewar being the 2nd stop from Delhi on this iconic 865 Kms route. Easy & fast connectivity between Delhi – Jewar Airport – Varanasi covering all the pilgrimage destinations will have an immense impact on the future of real estate development. Residential demands will pick up and with the influx of more residents in this part of NCR; the demands for quality A grade commercial & retail developments will also surge.”
What will be the impact of this on real estate?
Deepak Kapoor, director, Gulshan Group explains, “The immediate effect would be in sectors or projects near the proposed stations of the Bullet Train at Sector 144 and Jewar. The demand would go up, and the appreciation would be phenomenal in the projects close to the proposed stations. As with other connectivity or infrastructural announcements, we can definitely foresee an appreciation. The other developments such as the Jewar Airport and Film City will also act as a catalyst for higher appreciation. Sector 144 is more likely to see immediate effect as there are world-class projects already coming up here and some are ready for possession.”
The infrastructure push always works in favour of real estate growth. Both Noida and Greater Noida continue to hog the limelight in terms of infrastructure growth. If you are a prospective buyer and planning to buy here then you may make your buying decision now.