The Yamuna Expressway offers large land parcels, and with it becoming operational it is expected to act as a magnet for real estate development projects. The Expressway is 165-km long, originating from Noida to Greater Noida and beyond till Agra, and its proximity to both Noida and Greater Noida, which are established towns, is expected to spur additional developments as well.
“The current development is ‘ribbon type’ and is expected to pick up momentum. With land availability in Noida becoming limited, this stretch will act as the next node for large-scale developments such as integrated townships and logistics and warehousing hubs,” said Rohan Sharma, manager – Research & REIS, Jones Lang LaSalle India (JLL).
The NCR is constantly expanding towards its peripheries, and the Yamuna Expressway has opened up a new area of development along its length. With connectivity to Agra, which is a major tourist spot that is being further enhanced, and travel time reduced considerably, the Yamuna Expressway has already attracted the interest of major developers who have announced township and residential projects. “With the operational F1 track and upcoming facilities like Jaypee Sports City project, Night Safari, etc. it will be the source of the next wave of development which will expand the city boundaries,” he said.
Currently, enhanced connectivity is the only infrastructure-related advantage for this location. However, the next round of infrastructural development was fuelled when the expressway became operational. Noida is a major attractor of real estate investments in the state, and this will encourage the Government and authorities to provide better amenities in this region.
However, Sharma said, “The advantages of proximity to development hubs of Noida and Greater Noida will also add to the attractiveness of this area. The proposed Delhi Mumbai Industrial Corridor expected to pass through Dadri will also boost development of warehousing and Special Development Zones along both sides of the Expressway.”
This entire region picked up pace with the Expressway becoming operational. Last year, it suffered a lull with the land acquisition issues that plagued the real estate projects in Noida and Greater Noida; however, residential prices in this corridor are still among the lowest when compared to other parts of NCR. Hence, investors have the advantage of a larger scope for appreciation.
Also, with Noida and Greater Noida keeping pace in terms of infrastructural developments, this region is expected to see well-rounded development on all fronts. An area with low prices and upcoming projects also at low price-points, enough scope for future developments and investment in infrastructure projects to create a well-developed hub equals a good investment option.
Residential apartment prices have remained largely stagnant since the Expressway completion, with projects further down this stretch launched at lower prices as well. “The residential plot prices have also remained relatively stable over the past one year, after showing a 35-40 percent appreciation initially. With the Expressway operational, appreciation is likely to show an upward trend here, though the other established residential corridors in NCR may cause such appreciation to be lower and slower going forward,” he said.