Target 2010
The Commonwealth Games brings with it upgradation of infrastructural facilities which will prove to be a boon for East Delhi, Noida and Greater Noida.
In the early 1980s, and even in ‘90s, East Delhi was considered a bit too down market and a poor cousin of the fast developing South Delhi. East Delhi and its suburbs Noida, Greater Noida and Ghaziabad lacked everything from great residential destinations, wide roads, and markets among others.
Much water has flowed down the Yamuna since then, literally. The infrastructural developments leading up to the Commonwealth Games of 2010 will change the face of East Delhi, Noida, Greater Noida and Ghaziabad much like the 1982 Asian Games changed South Delhi.
In the run up to the games, the Delhi government has readied a Rs 4,000-crore makeover plan for East Delhi and Noida - Greater Noida and Ghaziabad will reap the benefits due to their sheer proximity to the place. The projects under operation ‘makeover’ include Metro Rail connectivity (work in underway), a new railway station and major road projects like the widening of NH-24, link roads, proposed East-West Corridor and flyovers. Once complete, these projects will help bridge the physical gap between the East and other parts of the city.
The Delhi government has approved construction of two new grade separators in East Delhi at an estimated cost of Rs 350 crore. The first will come up at the Apsara border and Anand Vihar inter-state bus terminus and the second at Ghazipur intersection of NH-24. These will be constructed in around 20 months and will be ready before the games.
Any sporting event of international level improves the infrastructural facilities of the venue, and of the city as a whole. It is the time to improve connectivity and basic infrastructure and Delhi is no exception.
“What happened to the
city during
the Asian games of 1982 will be repeated again but on a much larger scale, and given the modern facilities, it will make a sea change,” says Sandeep Goel, managing director of MSX Developers Pvt Ltd.
The real estate prices of East Delhi, Noida and Greater Noida, and some areas of Ghaziabad, have already shot up in anticipation of the games. A huge games village is coming up near the Akshardham Temple. Experts believe these flats will change the real estate scene of the region.
During the 15-day-long games in October 2010, these apartments will be used to accommodate the nearly 8500 visiting athletes. After the games, one third of the total 1168 flats would be handed over to the Delhi Development Authority to be sold in the open market and the remaining 779 flats would be handed over to the buyers who have already booked those flats.
If we look at the facilities coming up like the Metro, a new railway station, the underpasses and the flyovers, for the benefit of the athletes, these will be later enjoyed by the citizens once the games are over - so, in effect, we get to enjoy the best of both worlds, all thanks to the games.
Moving further up to Noida, though a little late, the UP government has finally realized that good connectivity, be they road or railways, is the key to economic development.
So, apart from the Taj Expressway and the Ganga Expressway you have five more in the offing, which will crisscross the state from all corners.
Totaling around 2,500 km, these five expressways have been conceptualized to run along the major rivers that cut across the state - Yamuna, Betwa, Ghaghra, Ram Ganga and Hindon. Uttar Pradesh Expressways Industrial Development Authority (UPEIDA) has been authorized to explore the technical as well financial feasibility of these expressways.
The proposed expressways include, 250-km eight-lane Ghaziabad-Saharanpur-Dehradun expressway on river Hindon, 950-km long Jhansi-Kanpur-Lucknow-Gorakhpur-Kushinagar expressway, 500-km Agra-Kanpur expressway on river Yamuna, the 350-kms Bijnore-Moradabad-Fatehgarh expressway on river Ram Ganga and the Lucknow-Barabanki-Nanpara expressway near the Nepal border.
A senior official involved in planning the projects revealed that the concept report for the Ghaziabad-Dehradun-Haridwar expressway, which will be the first inter-state venture between Uttar Pradesh and Uttarakhand, is ready and the preliminary environment clearance has also been received.
It has been decided that while the Uttarakhand government would bear the cost of building the Saharanpur-Dehradun stretch of the expressway, Uttar Pradesh will build the stretch from Ghaziabad to Saharanpur.
The project is to be constructed on a build-operatetransfer (BOT) basis and would touch Meerut, Baghpat, Muzaffarnagar and Kulesra (Saharanpur), which is on the UP-Uttarakhand border. From there, the expressway will be extended to Dehradun and Hardwar.
Meanwhile, the concept report for Jhansi-Kushinagar mega expressway, which is being planned on Betwa and Ghaghra rivers, has been submitted to the state cabinet for approval. In the case of Bijnore-Fatehgarh expressway and the Lucknow-Nanpara expressway, the concept reports are under different stages of preparation, while the Agra-Kanpur project is still at a nascent stage.
Real estate experts are all buoyant on these developments. They feel that not only East Delhi and Noida, but also, areas like Gurgaon and Bhiwadi are also going to benefit from these infrastructural developments. “In view of the Commonwealth Games, New Delhi will see a dramatic improvement in the infrastructure facilities. This will have a wide and long lasting economic impact not only on the city, but the entire NCR. In my opinion, the investment climate will become upbeat as a result of better connectivity, organized state governance, as well as the sheer publicity that will ensue. We perceive that areas that will gain the most are the economic hubs of Noida-Greater Noida, and Gurgaon-Bhiwadi,” says Vishal Gupta, Jt MD of Ashiana Housing Ltd.
“My understanding is, the availability of better infrastructure, state support, and the correction that the market has witnessed, will result in end users getting better investment options, wider choice and more appropriate prices. We are hopeful that the industry will be entering a growth phase which is market driven and sustainable for a long period,” he added.
The other opinion is that the areas in question may be well out of the reach of the middle class. But, you should remember that land being always a scarce commodity, property prices would invariably follow basic economics of demand-supply and pricing. Once asset prices start escalating, the initial interpretation always suggests a bubble.
Sandeep Goyal says: “Future cosmopolitan areas such as Greater Noida and Sonepat are surely the most desirable and hot areas to invest. These areas are still under development and the best part is that the market here is very stable as compared to the volatile situation in other regions of NCR. With such stability, we do hope for an appreciation in the residential segment by at least 15-20 % by 2010. Developers, for their part, are still very optimistic, as buyers continue to pick up property for end-use. Developers should now target the affordable quality housing segment for the middle class and offer decent value for dwelling units.”
The other area that will be in focus is the Ghaziabad Indirapuram stretch. Vijay Jindal, CMD of SVP Builders India Ltd, says: “Ghaziabad will be in the top cities as the city’s peripherals will see maximum development and growth. It’s going to have 360-degree development in all sense – whether in commercial, residential or in education While Indirapuram, NH-24, NH-58 will be residential, Sahibabad and Mohan Nagar will be industrial and NH-58 will develop as an education hub.”
Surely, with all these adding up, it will help boost the economy and the effect will last longer. Will the Yamuna flow quietly after this?!
In the early 1980s, and even in ‘90s, East Delhi was considered a bit too down market and a poor cousin of the fast developing South Delhi. East Delhi and its suburbs Noida, Greater Noida and Ghaziabad lacked everything from great residential destinations, wide roads, and markets among others.
Much water has flowed down the Yamuna since then, literally. The infrastructural developments leading up to the Commonwealth Games of 2010 will change the face of East Delhi, Noida, Greater Noida and Ghaziabad much like the 1982 Asian Games changed South Delhi.
In the run up to the games, the Delhi government has readied a Rs 4,000-crore makeover plan for East Delhi and Noida - Greater Noida and Ghaziabad will reap the benefits due to their sheer proximity to the place. The projects under operation ‘makeover’ include Metro Rail connectivity (work in underway), a new railway station and major road projects like the widening of NH-24, link roads, proposed East-West Corridor and flyovers. Once complete, these projects will help bridge the physical gap between the East and other parts of the city.
The Delhi government has approved construction of two new grade separators in East Delhi at an estimated cost of Rs 350 crore. The first will come up at the Apsara border and Anand Vihar inter-state bus terminus and the second at Ghazipur intersection of NH-24. These will be constructed in around 20 months and will be ready before the games.
Any sporting event of international level improves the infrastructural facilities of the venue, and of the city as a whole. It is the time to improve connectivity and basic infrastructure and Delhi is no exception.
“What happened to the
city during
the Asian games of 1982 will be repeated again but on a much larger scale, and given the modern facilities, it will make a sea change,” says Sandeep Goel, managing director of MSX Developers Pvt Ltd.
The real estate prices of East Delhi, Noida and Greater Noida, and some areas of Ghaziabad, have already shot up in anticipation of the games. A huge games village is coming up near the Akshardham Temple. Experts believe these flats will change the real estate scene of the region.
During the 15-day-long games in October 2010, these apartments will be used to accommodate the nearly 8500 visiting athletes. After the games, one third of the total 1168 flats would be handed over to the Delhi Development Authority to be sold in the open market and the remaining 779 flats would be handed over to the buyers who have already booked those flats.
If we look at the facilities coming up like the Metro, a new railway station, the underpasses and the flyovers, for the benefit of the athletes, these will be later enjoyed by the citizens once the games are over - so, in effect, we get to enjoy the best of both worlds, all thanks to the games.
Moving further up to Noida, though a little late, the UP government has finally realized that good connectivity, be they road or railways, is the key to economic development.
So, apart from the Taj Expressway and the Ganga Expressway you have five more in the offing, which will crisscross the state from all corners.
Totaling around 2,500 km, these five expressways have been conceptualized to run along the major rivers that cut across the state - Yamuna, Betwa, Ghaghra, Ram Ganga and Hindon. Uttar Pradesh Expressways Industrial Development Authority (UPEIDA) has been authorized to explore the technical as well financial feasibility of these expressways.
The proposed expressways include, 250-km eight-lane Ghaziabad-Saharanpur-Dehradun expressway on river Hindon, 950-km long Jhansi-Kanpur-Lucknow-Gorakhpur-Kushinagar expressway, 500-km Agra-Kanpur expressway on river Yamuna, the 350-kms Bijnore-Moradabad-Fatehgarh expressway on river Ram Ganga and the Lucknow-Barabanki-Nanpara expressway near the Nepal border.
A senior official involved in planning the projects revealed that the concept report for the Ghaziabad-Dehradun-Haridwar expressway, which will be the first inter-state venture between Uttar Pradesh and Uttarakhand, is ready and the preliminary environment clearance has also been received.
It has been decided that while the Uttarakhand government would bear the cost of building the Saharanpur-Dehradun stretch of the expressway, Uttar Pradesh will build the stretch from Ghaziabad to Saharanpur.
The project is to be constructed on a build-operatetransfer (BOT) basis and would touch Meerut, Baghpat, Muzaffarnagar and Kulesra (Saharanpur), which is on the UP-Uttarakhand border. From there, the expressway will be extended to Dehradun and Hardwar.
Meanwhile, the concept report for Jhansi-Kushinagar mega expressway, which is being planned on Betwa and Ghaghra rivers, has been submitted to the state cabinet for approval. In the case of Bijnore-Fatehgarh expressway and the Lucknow-Nanpara expressway, the concept reports are under different stages of preparation, while the Agra-Kanpur project is still at a nascent stage.
Real estate experts are all buoyant on these developments. They feel that not only East Delhi and Noida, but also, areas like Gurgaon and Bhiwadi are also going to benefit from these infrastructural developments. “In view of the Commonwealth Games, New Delhi will see a dramatic improvement in the infrastructure facilities. This will have a wide and long lasting economic impact not only on the city, but the entire NCR. In my opinion, the investment climate will become upbeat as a result of better connectivity, organized state governance, as well as the sheer publicity that will ensue. We perceive that areas that will gain the most are the economic hubs of Noida-Greater Noida, and Gurgaon-Bhiwadi,” says Vishal Gupta, Jt MD of Ashiana Housing Ltd.
“My understanding is, the availability of better infrastructure, state support, and the correction that the market has witnessed, will result in end users getting better investment options, wider choice and more appropriate prices. We are hopeful that the industry will be entering a growth phase which is market driven and sustainable for a long period,” he added.
The other opinion is that the areas in question may be well out of the reach of the middle class. But, you should remember that land being always a scarce commodity, property prices would invariably follow basic economics of demand-supply and pricing. Once asset prices start escalating, the initial interpretation always suggests a bubble.
Sandeep Goyal says: “Future cosmopolitan areas such as Greater Noida and Sonepat are surely the most desirable and hot areas to invest. These areas are still under development and the best part is that the market here is very stable as compared to the volatile situation in other regions of NCR. With such stability, we do hope for an appreciation in the residential segment by at least 15-20 % by 2010. Developers, for their part, are still very optimistic, as buyers continue to pick up property for end-use. Developers should now target the affordable quality housing segment for the middle class and offer decent value for dwelling units.”
The other area that will be in focus is the Ghaziabad Indirapuram stretch. Vijay Jindal, CMD of SVP Builders India Ltd, says: “Ghaziabad will be in the top cities as the city’s peripherals will see maximum development and growth. It’s going to have 360-degree development in all sense – whether in commercial, residential or in education While Indirapuram, NH-24, NH-58 will be residential, Sahibabad and Mohan Nagar will be industrial and NH-58 will develop as an education hub.”
Surely, with all these adding up, it will help boost the economy and the effect will last longer. Will the Yamuna flow quietly after this?!