NMRC pulling out all stops to com­plete Noida Metro by 2017-end

HT Estates - - FRONT PAGE - Van­dana Ram­nani

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 Con­tin­ued to page 06

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. Con­tin­ued to page 06

SU­NIL GHOSH / HT

The 30-km Noida-Greater Noida Metro project in Noida is cur­rently un­der con­struc­tion.

SAKIB ALI / HT

Santosh Ku­mar Ya­dav, man­ag­ing di­rec­tor, Noida Metro Rail Cor­po­ra­tion.

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