NMRC pulling out all stops to complete Noida Metro by 2017-end
etro connectivity in all real estate markets positively affects both residential and commercial stock as commuting gets easier and valuations improve. However, prices are likely to be less in saturated areas and more in new markets where habitation is yet to settle and connectivity expected to improve .
Driving along Noida City Centre towards Sector 50 and further down to Sectors 78 and 79, you can see construction activity in full swing. While there are thousands of apartments already habited, some are still under construction. While Sectors 50, 52 and 53 are considered high-end with prices ranging from ₹ 8,000 per sq ft to ₹ 12,000 per sq ft, most projects located in Sectors 75, 78 and 79 where construction of the Metro is in full swing, are affordable with price points ranging between ₹ 4,500 per sq ft to ₹ 5,500 per sq ft. If one takes a turn towards the Noida Expressway through Baghel Road, the first metro station expected to come up after Sector 82 is the one in Sector 137. It is surrounded by over a dozen projects and as many as 25,000 housing units. Many people have already moved into these projects. The Faridabad, Noida, Ghaziabad road (currently under construction) intersection is also close to this area and is expected to cut down driving time to Faridabad by 25 minutes.
These projects are flanked by two commercial projects along the expressway where some companies have already moved in. Further down the road in Sector 143 are some 10,000 housing units by renowned developers. Sector 150 on the right side of the expressway has several projects under construction and about 10,000 units are expected to come up here. Several realty brands currently active in Gurgaon are also likely to launch projects in this sector in the coming months. The prevailing price in this sector is around ₹ 4,000 per sq ft to ₹ 5,000 per sq ft. Since sports facilities are also coming up here, this area is likey to be developed as a low-density sector. Also, while the floor area ratio (FAR, which allows more space to build on) in Sectors 75, 78 and 79 is around 4, it’s 1.75 in this sector).
Metro stations to come up close to this sector are 146, 148 and 154, which, along with sectors 156 and 157, had been reserved for SEZs under the Noida Master Plan. Currently there is no habitation in these sectors and the stations are being built for future use. Further down is sector 168 where around 6,000 units are under construction. It’s likely that the authorities have decided to plan the entire Metro route now because of the long-term benefits involved as construction costs will be higher 10 years from now. Building a station on an operational route also has its added hassles. City and Industrial Development Corporation of Maharashtra Ltd (CIDCO) had developed Navi Mumbai and Vashi similarly. When the suburban areas were
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Former Ghaziabad Development Authority vice chairman Santosh Yadav has recently taken over as the managing director of Noida Metro Rail Corporation (NMRC), the post which till now was held by Noida Authority chairperson Rama Raman. In a conversation with HT Estates, he talks about plans to expedite work on the 30-km Noida to Greater Noida Expressway Metro link, envi- ronment friendly steps taken by NMRC and other issues. The progress has been reviewed by me and I am sure that the Delhi Metro Rail Corporation shall meet the deadline of the project, ie March 2018 as per the memorandum of understanding (MoU) signed between DMRC and Noida Metro Rail Corporation (NMRC). We are trying to achieve the target of December 2017 since civil works are progressing satisfactorily. The most critical part of the Metro system is the rolling stock signalling system followed by the trial runs that are conducted to ensure safety and certification by the commissioner of Metro rail safety. The stretch is planned for operation in one go from Greater Noida to Noida.
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The 30-km Noida-Greater Noida Metro project in Noida is currently under construction.
Santosh Kumar Yadav, managing director, Noida Metro Rail Corporation.