sales volumes as construction nears completion,” says Samantak Das, chief economist and national director-research, Knight Frank (India) Pvt Ltd.
Having said this, two basic problems will continue t o remain unresolved – electricity supply and perception of law and order, he says.
Areas that will have an imme- diate impact include Greater Noida West, Siddharth Vihar, Crossings Republik and Hi-Tech and integrated townships. As the widening in the second phase gets underway, one will see developments in Dasna, Pilkuah and Hapur belt. Many areas such as Siddharth Vihar ( Dilshad Garden Metro) and Greater Noida West will benefit both from the Metro as well as widening of NH 24.
The Gaursons India Group plans to launch phase 2 of its project in Crossings Republik, which will be spread across 8 acres at about 3,500 per sq ft. The builder also has about 12 acres in Siddharth Vihar where it plans to launch a project once the final approvals are in place in the next six months. Prices are likely to be kept at 4,000 per sq ft. It is also exploring possibilities of launching projects in Hi-Tech City at a price point of
2,500 per sq ft to 3,500 per sq ft, says Manoj Gaur, MD, Gaursons India.
The Ramaprastha Group, which has a 150 acre l and bank near the CISF camp in Indirapuram plans to launch a group housing project this calendar year, says Nikhil Jain, CEO, Ramaprastha Group, adding that the project will be priced as per market dynamics.
Prashant Tiwari, chairman, Prateek Group, says that the first phase of the group’s project located in Siddharth Vihar area, next to Indirapuram, will be delivered in two-and-a-half years around the same time that the NH 24 is expected to be completed.
The commercial market in Sector 62, which has not taken off due to infrastructure issues, will also benefit from the widening of the highway.
The office spaces in this area command rentals of 35 per sq ft to 45 per sq ft per month. These may go up by at least 15% to 20% once the widened stretch is ready.