All You Need To Know About Noida-Ghaziabad Metro Link

The extension of the Metro line from Noida Sector 62 Metro Station to Mohan Nagar and Vasundhara might take some more time as Delhi Metro Rail Corporation (DMRC) has decided to revise the detailed project report of the route in order to factor in the amendments suggested by the Ghaziabad Development Authority. For this, GDA has released Rs 20 lakh and has asked DMRC to submit the report by February.

The proposed amendments include shrinking the Transit-Oriented-Development area along the route from 2km to 500 meter due to the scarcity of land in the congested areas of Vaishali and Ghaziabad and to factor in the circle rates of the area where land has to be acquired for the project construction.

Let us take a look at how the new metro link between Ghaziabad and Noida will impacts the realty market along the corridor.

The route

There will be four stations on this route between Noida Sector 62 and Mohan Nagar. This stretch will pass through Indirapuram along the CISF Road, and four stations between Vaishali and Mohan Nagar via Vasundhara, the transit point. The total length of the corridor will be 9.5km – the five-kilometres-long stretch between Vaishali to Mohan Nagar and 4.5-km stretch between Noida Sector 62 and Mohan Nagar. This extended corridor will connect the trans-Hindon, including Indirapuram, Vaishali and Vasundhara.

The new route is a good news for those living in farther sectors of Noida and Ghaziabad. Adding to this will be the Noida City Centre and Electronic City Metro connect and the recently operational Magenta Line. 

Project funding

GDA has already given its approval for the project in April 2016. The initial amount of Rs 1.09 crore was sanctioned to the DMRC for preparation of DPR. To fund the entire route, GDA will either use its infrastructure fund or will take loan from NCR Planning board. A part of the project will be funded by the state government. 

Impact on real estate

Indirapuram has been one of the critical residential real estate that was now waiting for a Metro connectivity for a further boost. The announced infrastructure has already begun making an impact in the property market. While the prices have witnessed a marginal growth, there has been a huge influx of potential homebuyers in the past six months. The popular areas include Vaibhav Khand, Ahinsa Khand, Niti Khand and Shipra Suncity. The average property price here ranges between Rs 4,000 per sq ft and Rs 5,000 per sq ft.

Similarly, Vasundhara is another real estate hub which would further witness a growth in real estate with the new connectivity. Though the property market is already saturated in terms of new construction, the resale market would be the one which would gain the most. The property price trend in Vasundhara has remained stable for past four years. The average rate ranges between Rs 5,000 per sq ft and Rs 6,500 per sq ft. The most popular pockets are Sector 2B, 3, 4, 5 and 10. Of these, Sector 5 is one of the poshest area due to the presence of reputed developers in the area and upfront location on the main road, in front of Indirapuram.