About Metro Aqua line in Nodia
Metro line introduction in any city creates a buzz not just for daily commuters but for real estate watchers as well. Properties close to the Metro area begin to see good appreciation in value and there is a rush to develop residential and commercial projects along the whole line. The properties closest to the stations see a remarkable price increase. People who already own a property in Noida and Greater Noida would see the connectivity pain disappear, and the worth of their asset moving up.
Greater Noida and Noida are expected to see such growth with the Uttar Pradesh government announcing the plans to complete the Aqua Line spanning nearly 30kms with 21 stations. The Aqua line will start from Noida Sector 71 to Greater Noida’s Sector Delta I. The project was welcomed by all as the line is a high commuter traffic point owing to students who commute daily along this line. One of the most inspiring 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.Real estate in Noida will see a massive growth in coming years due to the development of the area in with metro aqua line has a greater share in it. DMRC has prepared the DPR of this corridor and established Noida Metro Rail Corporation (NMRC) to implement the whole project.
Impact of the Metro Aqua line on Real Estate in Noida
In the past couple of years, real estate in Noida has seen steady growth and has also accounted for a total of 40% launches in the NCR region. The affordable housing projects contribute to 50% of the launches. Property Listings in Noida & Greater Noida has shown a steady decline till Sep’18, then shown a steady growth on month on month basis. Expansion of Noida Metro i.e. Aqua Line may be a main factor behind the same. Reasonable pricing has made it an attractive market for buyers of all price ranges. The estimated hike in prices that real estate watchers estimate, on opening of the Aqua line is close to 20%. Multiple residential and commercial projects are already under development and more projects are set to follow. The rental market will also see an upswing with rental prices rising between 5-10% depending on the location along the line.
People who already have bought a property in Noida and Greater Noida would see connectivity issues disappearing, and the worth of their immovable assets going up. Investors, who bought property here to earn handsome rental also have a reason to cheer — they will have more takers, willing to shell out more money.
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 a latest report around 10,000 people have already applied for the smart card which means less private vehicles on the road.
The Aqua metro line is set to boost the real estate in Nodia, for both residential and commercial developments in the coming years.