How Aqua Line Metro will boost the realty Market of Noida and Greater Noida?
With Aqua Line Metro corridor all set to start its operations for the commercial usage in next few days, the realty market of both Noida and Greater Noida will be going to see a steep jump in terms of property prices as well as residential launches in coming future. The 29.7 km Aqua line corridor will connect the twin cities of UP i.e. Noida and Greater Noida.
The Aqua Line Corridor
One of the most aspiring and dream projects of the Uttar Pradesh Govt, this corridor was announced in 2014 to enhance the public transportation system between Noida and Greater Noida. DMRC has prepared the DPR of this corridor and established Noida Metro Rail Corporation (NMRC) to implement the whole project. A total of 21 stations were finalized and the cost estimated to complete the project was around Rs 5503 crores.
The route will start from Sector 71 in Noida and will end at Sector Delta I in Greater Noida. It will cover 15 stations in Noida and 6 in Greater Noida. These stations include Sector 71, 50, 78, 101, 81, Dadri Road, Sector 83, 137, 142, 143, 144, 147, 153, 146, 149 in Noida, and Knowledge Park II, Pari Chowk, Sector- Alpha 1, Alpha 2, Delta 1 and Depot station in Greater Noida.
Recently, NMRC has unveiled the smart cards which will be used by the daily commuters to travel in the metro apart from QR Coded tickets. The card name ‘Noida Metro City 1 Card’ will provide a 10% discount on the travel. The fares have already been decided by the authority officials. The starting price of the ticket will be Rs 10 and the maximum will be Rs 50.
Aqua Line Metro – Impact on Real Estate Market
Greater Noida is home to many big IT/ITes companies and MNCs. Apart from many educational institutions and industries are also present here. Although the region has good and well-developed infrastructure as well as thriving real estate due to less availability of public transport daily commuters face the problem. They either are dependent on public autos or have to use their own private vehicles.
Commencement of the Aqua Line corridor will not only ease transportation problem but will also increase property prices in the surrounding areas of the metro corridor. Both Noida and Greater Noida has become a hub of affordable properties from the past few years. And in the near future, more such properties are on the cards in both the regions. So, the last mile connectivity will definitely prove to be beneficial for the residential real estate market of both the cities. This connectivity will further lead to faster property price appreciation.
Talking about the commercial market, this sector will also be going to see a boon in the near future with more and more companies moving here to develop their base.
Further, it will also decongest Delhi and Noida traffic as according to the latest report around 10,000 people have already applied for the smart card which means fewer private vehicles on the road.
With all such positive features, Aqua Line will surely bring a wave of changes in the realty market of Noida and Greater Noida.