The approval by state authorities on resuming the construction of the 22-km long link road between the two NCRs — Greater Noida and Ghaziabad, has raised hopes of real estate developers and buyers invested in both the areas. The under-construction road connects Zeta sector in Greater Noida to Vijay Nagar Bypass on NH24.
There is only 1.5 km of the passage left to complete this 130 m wide link road. Once done, the areas that are most likely to reap benefit from this link road would include the Zeta sector of Greater Noida and Crossings Republik in Ghaziabad. The road, which has been under construction for the last nine years, has been affected due to farmer’s agitation in Greater Noida.
“The completion of the link road will improve the connectivity and reduce the 30 km travel distance between Ghaziabad and Greater Noida to 20 minutes,” says Amit Rustagi from Dial Property, a Noida-based brokerage firm.
While land owners and builders are keeping their fingers crossed, investors and financers are keeping a vigil over the link road. “If a 2BHK costs Rs 60-65 lakh today, it is likely to escalate to Rs 70-75 lakh once the link road is functional,” say Rustagi.
The Zeta sector is already dotted with projects by developers such as Amrapali, Assotech and Purvanchal, where experts expect a commercial hub soon. Crossings Republik is a fast-developing area in itself with a number of new projects.
The prevailing average rates for multi-storey residential apartments in Zeta, NH24 and Crossings Republik are Rs 2,769, Rs 2,941 and Rs 2,913 respectively. The prices of properties in these areas are expected to go up to Rs 4,000-4,500 per sq ft within five to seven years from now.
“2 BHK apartments in the range of Rs 15 lakh-20 lakh are most likely to come up in Greater Noida as there are very less number of apartments catering to this segment,” says Sanyam Mehra from Investors World, a property brokerage firm. “With good roads and greenery, Greater Noida can prove to be a favourable area for residential as well as commercial properties,” he adds.