The opening of the Yamuna Expressway, many realty experts feel that real estate market in the region will experience a boom. It is expected that Delhi-NCR region and parts of western UP becomes hot spot destinations. This region from where the Yamuna Expressway is touching is expected to be hub of residential and commercial real estate. The current price of land in the realty market is about Rs 30,000 per square yard, but it is expected that there will be 30% property prices hike.
Jaypee Group, one of the well-known real estate companies in India, did the planning and execution of Yamuna Expressway. The joint managing director of this group said that homebuyers would also be benefitted from this expressway. This excellent infrastructure will not only boost commuting but also give an advantage to the buyers and investors. Five integrated townships are in construction stages at Mirzapur, Jaganpur, Kuber near Agra, Tappal near Aligarh and of course Noida. This expressway will promote these upcoming townships.
This expressway is said to be a great contribution to the India property sector. Many real estate companies have planned residential townships along the expressway. Supertech one of the Real Estate Companies of India, has planned two luxurious projects, the Upcountry and Golf Country projects here.
Ajnara India is another renowned real estate companies in India. The director, Vineet Gupta said that ear of development has already started in the expressway region. Many housing projects are coming up in the region. Besides residential projects, the expressway is attracting office real estate. The global companies are in the lookout for good connectivity is moving to this region. Indian and multinational companies are finding land and rental space along the expressway.
Ajnara is planning to start a project called Panorama near the Buddh International Circuit. Vineet Gupta feels that with the opening of expressway, there will be developments in the close by areas. Also commuting will be easier as there will be less traffic jams with the six lane highway. For example traveling from Delhi to Agra will be about 2and – hours. This is much less than the original timing of about 4to 5 hours.
Another well-known real estate company of India, the 3C Company has planned a project called the Lotus City. The director of 3C company Brijesh Bhanote, said that infrastructure development makes the destination surrounding its attractive. Real estate investors feel that region along the Yamuna Expressway will attract investment. Better connected destinations derives higher capital values.
About Yamuna Expresswy: The Jaypee Infratech have developed this landmark infrastructure. The Expressway is spread over an area of 530 million sq ft. Out of the entire area, 311 million square feet area comes under the National Capital Territory.