There has been a convergence of factors that make the Yamuna Expressway area one of the most promising regions as far as realty is concerned. With mega industrial plans being visualised, positioning it as an educational hub and a strong roadmap aimed at bettering connectivity and infrastructure, the sky is the limit for the region.
At the outset, I would like to state that the future of the development of the real estate sector within the National Capital Region (NCR) lies in the Yamuna Expressway. I say this with full conviction, and not only because of my official position in the Authority responsible for the development of the area.
There are plenty of undeniable facts which point towards Yamuna Expressway becoming the preferred destination for home buyers and industrialists in the near future. Connectivity is one major reason. The area is already well connected to various states and districts of the National Capital Region.
We have the 165-km-long Yamuna Expressway connecting two major tourist destinations Delhi and Agra. The proposed Eastern Peripheral Expressway passes through Phase-1 of YEA near Dankaur town. The area is also connected to the Palwai – Aiigarh State Highway (SH- 22), Mathura-Bareilly State Highway (SH-33) and Mathura – Aiigarh State Highway (SH-80). Then there are many proposed regional connectivities – the Western and Eastern DFC, Agra to Lucknow Expressway, Upper Ganga Canal Expressway, Delhi-Meerut Expressway etc.
The proposed Dadri-Noida-Ghaziabad investment region is very near to the notified area of the Yamuna Expressway. YEIDA is also working with the Delhi Metro Rail Corporation (DMRC) for better metro-rail connectivity with Noida and Greater Noida along the expressway.
Affordability is another vital reason because compared to Gurgaon, Faridabad, Noida and Greater Noida, land prices along the Yamuna are still in the affordable category. The area is also set to become the next education hub as almost whole of Sector 17-an area of about 386 hectares-is being developed as an educational area. Two universities viz. Galgotia and Noida International University have already started academic seasons two years back.
With the trend towards green buildings and sustainability picking up across the nation, the area around the Yamuna offers the best scope on that count as well. About 21 per cent of the area is under green cover which provides for pollution-free living and that by itself, is an excellent reason to invest in this area.
Having said all that, I must mention that while the basic objective of the YEIDA is industrial development and promoting industry, as an ancillary, housing and other activities also happen in a big way. We have a well chalked out roadmap to create conducive environment to attract the industry and we are doing our best to achieve it in a time-bound manner.
There are plenty of undeniable facts which point towards Yamuna Expressway becoming the preferred destination for homebuyers and industrialists in the near future
Our development strategy has a major focus on introduction of new economies integrated with the global demand. There is high potential in the area for large-scale and MSME industries along with IT and ITeS businesses. Overall, the growth prospects along the Yamuna Expressway will keep on increasing.
We have uninterrupted inquiries from various industrial houses who want to set up base in the area. Many have come to scour the area. They are extremely happy with the infrastructure we have provided in the area and now they want us to come up with a scheme so that they can take the matter forward.
It will be unfair on my part not to acknowledge the contribution of the Buddh International Circuit (racing track) in boosting the prospects of the Yamuna Expressway. Formula One is an annual activity but it has worldwide effect. People are coming from outside and we have got recognition. People have seen the kind of development that has happened and is happening. After Formula One, queries from the industry have increased to a large extent.
Among our significant plans for the future is to provide hassle-free connectivity to residential, institutional and commercial sectors along the expressway either by connecting them by Mass Rapid Transit System or connecting to existing rail network for passenger rail. Besides sidings for the nearest DFC stations are proposed to connect to YEIDA region to facilitate fast movement of the goods for the industrial estates. Being nearer to the proposed DFC, Hathras and Agra are earmarked as potential area for logistic hub. The area between the Yamuna River and the Yamuna Expressway is mainly kept green to attract entertainment and amusement activities.
With the approval of hike in compensation by the state Government and the farmers’ readiness to part with their land after the hike in compensation by 64.7 per cent, the decks have been cleared for the proposed project. The Uttar Pradesh Government has also announced various incentives and concessions to various infrastructure and industrial projects by implementing new ‘Infrastructure & Industrial investment policy 2012’.
The indications from the Union Budget with regards to real estate are positive and they seem to demonstrate a concrete and viable growth plan. Positive steps have been taken towards housing loans and real estate has emerged as a priority area. Emphasis has been given to the affordable housing sector and bank loans towards this sector are likely to go up.
The green signal to the Real Estate Investment Trusts (REITs) and relaxation of FDI limits will lead to enhanced NRI investment thereby contributing to the growth prospects along the Yamuna Expressway. Both the domestic and the NRI investor will be hugely interested in being part of the growth prospects that lie along this area in terms of excellent location and connectivity.
> The writer is CEO of Yamuna Expressway Industrial Development Authority (YEIDA) <