Looking Long-Term? Yamuna Expressway Could Be The Answer For You
The 165-km Yamuna Expressway has turned into a real estate hotspot along the stretch between Greater Noida to Agra. Adding colour to the area is the successful commissioning and running on a Formula 1 (F1) track, giving extra boost to the realty development around the expressway.
The Yamuna Expressway Industrial Development Authority (YEIDA) is looking to get a nod from the Uttar Pradesh Government to develop four new townships in Agra, Mathura, Aligarh and Hathras, according to its Master Plan 2031. The masterplan involves a total area of more than two million hectares. The total area that will be developed into townships will be around 30,000 hectares, giving a large canvas for realty developers at the expressway.
The proposed Delhi-Mumbai Industrial Corridor is expected to cross Dadri. This will boost a lot of development in the area, one of them being warehousing which is growing at a very fast rate, thanks to activity by e-commerce players. The Government is planning to develop many free trade warehousing zones along the corridor.
Price appreciation The average price of apartments in Yamuna Expressway area is around Rs 3,400 per sq ft. While at the lower-end, an apartment may cost you as much as Rs 2,500 per sq ft, premium homes cost as high as Rs 4,000 per sq ft. However, prices of premium homes in this area are appreciating at a higher rate than those on the lower-end, indicating that the demand is tilted towards the premium range, at least for now. In the short-term, the price appreciation has been in single digits like most areas in the National Capital Region (NCR) . The real appreciation, however, is expected to come in the long-term, which can stretch to 7-10 years.
Projects for all The F1 track has placed the Yamuna Expressway among the region's posh localities. Upcoming projects in the Yamuna Expressway area are trying to match up to the tag. The most popular in the area is the project by Jaypee Group, also the builder for the F1 track. They have a large-gated community, with an integrated township project that spreads over 1,000 hectares. Named Sports City, the township's plots, apartments and villas offer a lot of high-end facilities. There are other gated communities, too, offering luxurious amenities, such as Green Bay, a golf course township. Many others constructions are also being developed by builders such as Supertech, Sunworld, Amrapali and ATS. But being a luxury locality is not the end. The Yamuna Industrial Development Authority plans to include projects for the middle-class and lower income groups, too.
Competing areas As an emerging area, the Yamuna Expressway is in direct competition with many other areas in the same phase. The first one is Noida Extension, as the time taken to travel to Delhi is around the same. Noida Extension scores higher here, as it already a town planning to back it. The Delhi Development Authority (DDA) is also planning to pool in land in Rohini, Narela and Dwarka areas, adding to new buildings and new hotspots, taking some interest away from the Yamuna Expressway. The future of the value of Yamuna Expressway realty depends on the growth of social infrastructure as well its ability to become self-sustainable.
Civic amenities The social infrastructure and civic amenities got a boost after the UP Government allotted more than 20,000 plots to individuals at the expressway. A number of schools and other educational institutions are developing at a fast pace.
(Katya Naidu has been working as a business journalist for the last nine years, and has covered beats across banking, pharma, healthcare, telecom, technology, power, infrastructure, shipping and commodities)