Bottom Line: Noida-Greater Noida Expressway has emerged as the brand statement of a market that for long had the single calling card of affordability.
The Expressway has not only elevated the positioning of the twin cities but in the process has proved to be a magnet for the corporate sector as well. It is a case study in how an infrastructure project can improve the brand positioning of a given market.
The length may be just 24 kms long but this Expressway has already set more than that number of milestones in a short span of time. It has turned around 20 non-descript sectors of the city into property hotspots. The claim to fame and fortune does not end here as this Expressway has helped the elevation of the city from affordable destination to mid-segment and high-end residential zone.
What is most significant is the fact that it has catalysed the economic activity in the region with corporate sector making a beeline along its stretch.
Noida-Greater Noida Expressway is a six-lane highway running the length of 24.53 kms that connects Delhi with the two suburbs of Noida and Greater Noida. It has been built to relieve the load off the congested National Highway 2 and since its inauguration in 2002, several residential complexes have sprung up on both sides of the Expressway, offering a kind of living experience that the affordable market of Noida was earlier not been witness to.
Spotting the opportunity, several industrial houses and foreign establishments have made their presence felt along the Expressway. In the process it has created a demand in the area for top-notch hotels, restaurants, shopping arcades, and departmental stores.
The Expressway has been the catalyst behind the rise of affluent residential sectors from 129 to 150 along the stretch. These sectors are increasingly adding to robust social infrastructure, well planned internal connectivity, and excellent residential projects.
More importantly, these locations do not fall under the category of affordable, as most of the projects here are premium integrated township projects. Right from Sports City to Golf Course and theme-based projects to the tallest residential luxury apartment of Delhi-NCR, the whole belt along the Expressway has seen a sea change with world-class facilities and infrastructure sprouting all over the place and connectivity getting redefined in the region.
The Expressway was built with the cost of Rs. 400 crore in an effort to alleviate the heavily choked National Highway 2 that connected Delhi and Noida to Agra, effectively cutting short the time taken to travel these great distances. Its excellent connectivity and its provision of comprehensive facilities for residential, commercial, and institutional activities along with ample social and industrial infrastructure draw hordes of potential home-seekers every year. The Noida-Greater Noida Expressway also connects to the Yamuna Expressway, which connects Greater Noida to Agra.
The Expressway is hence a lifeline for the rise and growth of real estate sector in the region. Dhiaj Jain, Director, Mahagun maintains that Noida Expressway has a location advantage along with the basic amenities any investor looks for before investing. This place connects Noida & Greater Noida and has excellent connectivity with Central Delhi which has bolstered the growth and development of this stretch.
“The region also has many Knowledge Parks, Special Economic Zones and IT hubs and corporate giants like TCS, Birla Soft, Adobe and KPMG have set up their offices here where lakhs of people are already working. These factors play a prime role in making of Noida Expressway as a property hotspot. Along with it, market has plethora of options from affordable housing to penthouse and premium villas along with competitive pricing for investors,” says Jain.
R K Arora, CMD of Supertech says the fact that there are so much of land parcels around the Expressway makes it quite attractive proposition for not only the developers but also business establishments. IT companies and the educational institutions have already there as first movers. Also, the fact that the pace of developments has been fast in the region has made this area a property hotspot.
“It may be just 23 kms but the Noida Master Plan 2021 has been methodical in spreading it out in 40 sectors so that there is balanced development amidst growing population. Moreover, most of the sectors are closer to Delhi as only 3 kms of Expressway falls in Greater Noida and the rest 20 kms fall in Noida,” says Arora.
Most of the new launches in the last around a year in Noida have been in the sectors connected with the Expressway. Probably what is the best recognition for Noida Expressway is the fact that its connecting sectors are no more seen to only fulfil the residential needs of the working class of Delhi. The Expressway has indeed turned some of the non-descript locations into self-sustained residential zones for the upwardly mobile and aspiring home seekers for whom an affordable destination does not mean a compromised housing solution.
