Since its inauguration in August 2012, large stock of vacant land
along the 165 km Yamuna Expressway has grabbed the attention of leading
real estate developers who started constructing residential projects and
townships along it. The stretch has all the potential to become one of
the hot realty destination. Despite that, the locality has failed to
attract homebuyers majorly because of the lack of infrastructure and
connectivity. The capital rates on the stretch have seen major ups and
downs. From Rs 3,350 per sq ft in (Jan-Mar 2015), the prices have risen
to Rs 4,050 per sq ft (Apr-June 2015), a growth of around 21 percent.
However, the appreciation could just be a result of increase in ‘ask’
price by sellers and not reflective of what the ground reality is.
Locality at a glance
The presence of Formula 1 Track (also known as Buddh International Circuit), Night Safari, Jaypee Greens Sports City, an upcoming international standard cricket stadium and go karting have made Yamuna Expressway a much talked about location. Apart from this, the functional Gautam Buddh University and Galgotia University have forced many real estate players to come up with their projects in this region.
Connectivity
The Yamuna Expressway is the longest six-lane controlled-access expressway stretch that offers direct connectivity to Agra from NCR thereby cutting down the 210 km distance to 165 km and reducing travel time to 2 hours. Another benefit is its proximity to the proposed Jewar Airport, which recently received the consent of the Civil Aviation Ministry.
In addition to this, work on Greater Noida metro has begun and it is expected to improve connectivity by 2018. But some real estate experts have a different stance. According to property expert Karanvir Kataria, Color Properties, Noida “Market buzz is that once the metro reaches here, the area will develop but that does not seem to be happening at least for the next five years. Moreover, there are a lot of players here who have not been able to deliver their projects here. Delayed possessions have dampened real estate sentiments in the area.”
Residential Landscape
As per the data listed with 99acres.com, over 120 residential projects have been launched along Yamuna Expressway out of which 43 are ready to move, 75 are under construction and rest are newly launched projects. Simultaneously, five commercial projects including The Great Adventure Mall and Jaypee Tanishq Square are under construction.
The locality offers most of the properties in the price bracket of Rs 20-40 lakh followed by Rs 40-60 lakh budget. Premium properties worth Rs 90 lakh and above constitute the least supplied with mere nine projects listed with 99acres.com offering such properties.
However, currently the locality is not witnessing much demand from buyers. “Because of lack of security and uninhabitable environment, end users with a budget of Rs 35-40 lakh prefer to move to Pari Chowk because of good connectivity and livable environment. Also the properties available near Pari Chowk are comparatively spacious,” adds Kataria.
2 BHK is the most common configuration with 61 projects listed with 99acres.com offering it followed by 3 BHK and 1 BHK units.
Civic Dampeners
The area is currently at nascent stage of development in terms of social and physical infrastructure which is a major reason why most of the localities here still remains uninhabited. Besides the six-lane highway, commuting to internal parts and other areas is difficult. Absence of police stations and traffic police hint of lack of security and remains a major concern.
Affordable properties, forthcoming developments and a large scope of growth makes Yamuna Expressway an investment driven locality. The capital and rental values here are lower as compared to nearby localities (like Pari Chowk), which grabs the eyeballs of a lot of investors and end users looking for an affordable home. With a lot of promising factors, Yamuna Expressway will surely reap good return on investment in future.
Resource :http://www.99acres.com/articles/yamuna-expressway-an-investor-driven-zone.html?utm_source=Organic&utm_medium=Twitter&utm_campaign=Social&utm_content=Tips&utm_term=NA
Locality at a glance
The presence of Formula 1 Track (also known as Buddh International Circuit), Night Safari, Jaypee Greens Sports City, an upcoming international standard cricket stadium and go karting have made Yamuna Expressway a much talked about location. Apart from this, the functional Gautam Buddh University and Galgotia University have forced many real estate players to come up with their projects in this region.
Connectivity
The Yamuna Expressway is the longest six-lane controlled-access expressway stretch that offers direct connectivity to Agra from NCR thereby cutting down the 210 km distance to 165 km and reducing travel time to 2 hours. Another benefit is its proximity to the proposed Jewar Airport, which recently received the consent of the Civil Aviation Ministry.
In addition to this, work on Greater Noida metro has begun and it is expected to improve connectivity by 2018. But some real estate experts have a different stance. According to property expert Karanvir Kataria, Color Properties, Noida “Market buzz is that once the metro reaches here, the area will develop but that does not seem to be happening at least for the next five years. Moreover, there are a lot of players here who have not been able to deliver their projects here. Delayed possessions have dampened real estate sentiments in the area.”
Residential Landscape
As per the data listed with 99acres.com, over 120 residential projects have been launched along Yamuna Expressway out of which 43 are ready to move, 75 are under construction and rest are newly launched projects. Simultaneously, five commercial projects including The Great Adventure Mall and Jaypee Tanishq Square are under construction.
The locality offers most of the properties in the price bracket of Rs 20-40 lakh followed by Rs 40-60 lakh budget. Premium properties worth Rs 90 lakh and above constitute the least supplied with mere nine projects listed with 99acres.com offering such properties.
However, currently the locality is not witnessing much demand from buyers. “Because of lack of security and uninhabitable environment, end users with a budget of Rs 35-40 lakh prefer to move to Pari Chowk because of good connectivity and livable environment. Also the properties available near Pari Chowk are comparatively spacious,” adds Kataria.
2 BHK is the most common configuration with 61 projects listed with 99acres.com offering it followed by 3 BHK and 1 BHK units.
Civic Dampeners
The area is currently at nascent stage of development in terms of social and physical infrastructure which is a major reason why most of the localities here still remains uninhabited. Besides the six-lane highway, commuting to internal parts and other areas is difficult. Absence of police stations and traffic police hint of lack of security and remains a major concern.
Affordable properties, forthcoming developments and a large scope of growth makes Yamuna Expressway an investment driven locality. The capital and rental values here are lower as compared to nearby localities (like Pari Chowk), which grabs the eyeballs of a lot of investors and end users looking for an affordable home. With a lot of promising factors, Yamuna Expressway will surely reap good return on investment in future.
Resource :http://www.99acres.com/articles/yamuna-expressway-an-investor-driven-zone.html?utm_source=Organic&utm_medium=Twitter&utm_campaign=Social&utm_content=Tips&utm_term=NA
No comments:
Post a Comment