IMPACT OF BULLET TRAIN IN GREATER NOIDA TO BOOST PROPERTY DEMAND

Category: Academics

Properties in the Greater Noida area have been subject to immense boost and appreciation in their sale value due to the growth in the area’s infrastructure. While the area has seen a boom in the IT sector, Greater Noida has also been the industrial hub for several years. The combined growth of IT and industrial development has generated employment opportunities causing people to migrate from rural areas to Greater Noida. Due to unmatched connectivity of Greater Noida with Delhi, their price has risen considerably over the years due to the increased demand for properties and accommodations. The prices are still expected to grow in the future with the establishment of more significant projects, and the Bullet Train is an extraordinary example of the same. Connectivity in Greater Noida: Greater Noida has enjoyed superior connectivity from various parts of the country for many years now. Many important national highways and state highways criss-cross the city, bringing even Delhi closer. The proposed Bullet Train project will result in even better connectivity and result in more demand for residential properties in the city. The establishment of the international airport at Jewar, work on which is already underway, is going to have a spiral effect on the demand for commercial and Residential Projects in Greater Noida. The bullet train will have two stoppages at sector 144 area of Noida and the Noida International Airport in Jewar. Thus, the overall connectivity of Greater Noida will be enhanced to great extents facilitating transportation for the people. The bullet train is also expected further to spur infrastructural and industrial developments in Greater Noida, expanding employment opportunities. Thus, while Noida and Greater Noida will be attracting several employees from other regions, the boost in their income would shoot the demand for more significant properties. Such an estimate has already proven true as several new projects have been started to bloom in Noida after reports for developing the Delhi-Varanasi corridor and connecting the two points with the bullet train have been submitted to the Railway Ministry. Impact of bullet train on Properties: Since the Bullet Train would connect most of the pilgrimage sites, like Agra, Mathura and Varanasi, with Noida, the tourism industry is also likely to thrive in the latter. Thus, demand for properties for establishing hotels would also rise to accommodate the tourists. Deliberations on launching the bullet train in the Delhi Varanasi corridor have already seen greater real estate purchase. This is because the owners of the properties are also hopeful about receiving a higher resale value in the upcoming years. It is evident that most would be keen on purchasing properties in the Noida area, be it individual investors or carious hospitality firms. Owing to the enhanced and quick connectivity between the Jewar International Airport and Noida Film City, the sector 144 area is likely to see the highest increase in the demand for real estate. The Bullet Train project is expected to bring boil in sales of real estate projects based in Greater Noida & Noida. Having said that, Migsun Group, one of the top real estate developer in Delhi NCR, has been able to redefine the skyline of Greater Noida with it’s landmark residential & commercial projects at the most strategic locations of the city. Lately, Migsun group has secured a Completion Certificate for the first phase of its residential project Migsun Wynn, 450 days ahead of the RERA mandated deadline. Not just that, possessions at Migsun Ultimo, Greater Noida were also On-Time. The Group’s yet another project Migsun Vilassa is seeing construction at a real fast pace project, thereby making MIGSUN one of the preferred developers amongst NCR property seekers.