The approval of two major metro routes by Uttar Pradesh government in Noida has sparked off positive sentiments from broker and developer community. The two proposed routes are between Kalindi Kunj and Botanical Garden and between City Centre and Sector 62 link. The former is a 3.9-km stretch, whereas the latter is a 6.7-km stretch. The project is expected to be operational by mid 2017.
These two new metro stations on the extended route will prove beneficial for commuters on both sides of the NH-24. In addition, they will also ease the traffic congestion being faced along this stretch. Indrajeet Sandhu of Golf View Properties Pvt Ltd says that this development will help in avoiding jams as interior road infrastructure witnessed an improvement when metro connectivity enhances.
“Property prices will improve in Sector 51 & 60 and Expressway too as the metro connectivity will reach uptil there. Commercial prices will also be impacted,” Sandhu said. He added that the present jam in Sarita Vihar and Okhla will also witness an ease after the metro from Kalindi Kunj to Botanical Garden starts.
Talking about the impact on capital values, he commented that after work commences, the capital values are expected to rise by about 10 per cent in the next one year. Saurav Agarwal of allcheckdeals.com says, “Sector 62-63, which is an industrial hub will boast of better roads and ease in traffic congestion.” Connectivity to Indirapuram will also improve as it’s about 3 kms from Sector 62.
“The capital values which are in the range of Rs 7,000-7,500 will go up to Rs 9,000 per sq ft within a year. The road congestion along Sector 62 stretch is likely to improve when the metro comes up. The next round of improvement in values and infrastructure will take place in Sectors 62, 72 and 78,” claims Saurav Agarwal. The investment amount pegged in these projects is about Rs 2,600 crore.
Neeraj Gulati, MD of Assotech Realty says there will definitely be a positive impact of the metro coming up in these areas due to many reasons like: a) roads and the overall infrastructure will improve, b) capital values will see a sharp rise c) a positive impact on the commercial values “A good example is the Gurgaon Cyber City, the corporate hub where there has been a considerable appreciation of capital value due to the existence of the functional metro route,” Neeraj Gulati points out.
The primary crowd that is likely to use the metro facility is the people using two-wheelers and executives working in multinationals.