Yamuna Expressway witnesses rapid development

Delhi/NCR
With improved connectivity and fast pace of infrastructural development, the 165km-long Yamuna Expressway is being considered as one of the best locations for real estate development.

To boost the area’s profile further, Yamuna Expressway Industrial Development Authority (YEIDA) has allotted a number of plots to reputed builders and developers to develop integrated townships with affordable homes, group-housing societies, luxury villas, and independent floors.

These developing townships along Yamuna Expressway are strategically located in one of the fastest-growing hubs for commercial, retail, and entertainment outlets of India and are just ahead of Buddh International Circuit (BIC).JP Sports City, India’s only integrated sports city , is also located nearby . Most of these sites are well connected to the heart of Greater Noida, Noida, and Delhi.

Jaypee Group has launched one the finest integrated city projects, Jaypee Greens Sports City , on 1,000 hectares with facilities like a cricket stadium, tennis courts complex, swimming pools, and a multipurpose indoor stadium.

YEA has allotted JP Group 5,100 hectares to develop its mega townships projects. YEIDA also has plans to develop huge theme parks and play zones along the belt, and convert one side of the expressway into an entertainment hub. It has already drafted a plan to speed up development work in the area.

Most of the companies that have shown interest in the area plan to showcase international brands in their outlets and are looking for big plots, between 1,500 and 2,000 acres. The NCR Planning Board has already approved the first phase of YEIDA Master Plan-2031 to develop areas around the expressway, between Greater Noida and Agra. In Phase I, it will develop up to Jewar in Gautam Budh Nagar district that includes 584 sq km of Gautam Budh Nagar and Bulandshahar.

With prices of land in Noida and Greater Noida going up, the area along the 165km-long Yamuna Expressway has emerged as an affordable housing hub for middleclass buyers. The UP cabinet approved 64.7% extra compensation to farmers, which YEIDA will have to shell out. Farmers, on their part, will have to withdraw all their legal petitions and hand over possession of the land to the authority to avail of the increased compensation. The development authority has now decided to pass on the burden to realty players who, expectedly, will increase the rates of flats.

YEIDA has raised the rates of residential and commercial properties by 23% and 24%, respectively, while industrial and institutional land rates have been raised by 10.9% and 10.76%, respectively.

P C Gupta, the CEO of YEIDA, says: “The authority will have to collect Rs 2,875 crore in the next two years to pay additional compensation to farmers. We had no option but to raise allotment rates. Still, compared to other NCR cities, this belt is loaded with world-class infrastructure and is affordable. The residential rates have gone up from Rs 11,500 per sq m to Rs 14,200 per sq m, while commercial rates have risen from Rs 23,000 per sq m to Rs 28,500 per sq m.

Apart from JP, other reputed realty players like, ATS, Orris Infrastructures, Supertech, Gaursons, Ajnara India, Cosmic, etc, have launched a number of realty projects on this stretch.

Supertech has joined hands with Disney India for Disney-inspired interiors and exteriors at their proposed residential project, Fable Castle, a part of Golf Country, an integrated township on 100 acres located in Sector 22D, Yamuna Expressway. Fable Castle is over 7.5 acres. The project will have around 1,000 units in 2-, 3-, and 4BHK options of 1,000 sq ft to 2,125 sq ft, which will have rooms inspired by Disney stories and characters.

“All amenities and facilities at such competitive rates could only have been possible on Yamuna Expressway. The area is very well connected and the infrastructural developments have been very supportive,“ R K Arora, the CMD of Supertech, said.

Orris Infrastructure is developing Curio City and Green Bay, each on 100 acres each on Yamuna Expressway. The townships comprise plots, villas, high-rise condominiums, hotels, schools, a hospital, recreation centres, convenience stores, and malls.

Gaursons Group is coming up Gaur Yamuna City, over 300 acres, at an estimated cost of Rs 5,000 crore. The gated community will have 20,000 units.

The ATS Group has recently launched ATS Allure, a part of The Province De Olympia, a 100 acre mega, integrated township along Yamuna Expressway, which offers plots and group-housing units in 2and 3BHK format of 1,150 sq ft to 1,350 sq ft at Rs 3,000 per sq ft.

Getamber Anand, CMD, ATS Group, says: “Strategically located on Yamuna Expressway, ATS Allure is part of The Province De Olympia. The project’s USPs is not just its location, but the price point, and it is a part of the self-sustained township with all social, commercial, and retail amenities accessible within the township.“

Ajnara India is developing Ajnara Panorama, which offers high-end luxurious villas (London Square), studio apartments (Vice Royale), and high-rise apartments (Panorama) over 22 acres. The project has a state-of-the-art clubhouse, and other modern amenities and world-class infrastructure. It has a strategic location and is surrounded by sprawling greens and has Metro connectivity.

“The concept of building modern townships with independent floors mixed with high-rises will definitely satisfy the interest of all customers,“ Ashok Gupta, the MD of Ajnara India, said.

Cosmic Group has launched Urban Young, part of a 100acre township, and offers 2and 3BHK apartments on Yamuna Expressway.

Source:http://content.magicbricks.com/industry-news/delhi-ncr-real-estate-news/yamuna-expressway-witnesses-rapid-development/76916.html