Monday, 3 March 2014

Work On Metro Expansion From Noida-Greater Noida Will Boost Realty Developments

Work on the Noida-Greater Noida Metro rail project is likely to begin soon, which will provide better connectivity between Noida and Greater Noida, as well as give an immense sigh of reassurance to the growing numbers of daily commuter. Work on the new Metro link to Kalindi Kunj and Greater Noida West will also be constructed soon.

Metro link from Noida-Greater Noida will benefit those living in Noida Extension as it would improve the connectivity and reduce the travel time and provide a smooth travel to Delhi, which will boost the future of the realty market. The connectivity will solve the traffic issues faced by citizens of these two cities. The real estate will jump in revenues by developing residential complexes as there projects will get an increase in the values of properties.

Rama Raman, the Chairman and CEO of Greater Noida Industrial Development Authority (GNIDA), says - “The New Year will herald a period of rapid development for Greater Noida, as the foundation stone for the new Metro line and other infrastructural projects are in the offing. Noida authority has 70% stake in the project while Gnida has 30%. The Noida authority has already approved a budget of Rs 1,000 crore for the 29km-long Metro line, which is expected to cost Rs 5,000 crore—we expect the whole project, linking Noida and Greater Noida via Noida-Greater Noida Expressway to be ready in the next three years.”

The metro line will be an advantage for the people living in the city as well as who work in the city, as it will provide them swift connectivity between Noida and Delhi. This project has cleared the doubts in the minds of home buyers or investors who were relying on it to be started soon which to them is a secure investment opportunity. This will energize the entire real estate industry and motivate them to come up with new projects in the area and and encourage home buyers to invest in them.

The project has become much easier for those who have already booked houses or are planning to book residences in the areas through which the Metro line will pass.

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