Construction of the 14.98 km extension of the Aqua Line from Greater Noida West to Greater Noida's Knowledge Park V is expected to start in the next three months.
The Uttar Pradesh government has approved the 14.98 km extension of the Aqua Line to Greater Noida West to Greater Noida's Knowledge Park V.
Here's all you need to know about the Aqua Line:
- The cost of the extension is expected to be Rs 2,682 crore.
- Construction of the corridor is likely to start in the next three months. The project is expected to be completed in three years.
- The new corridor, to be constructed by Noida Metro Rail Corporation, would be completed in two phases. There would be five stations in the first phase. The network would consist of stations in Noida Sector 122, Noida Sector 123, Greater Noida Sector 4, Eco Tech and Greater Noida 2.
- There would be four stations in the second phase. These would include Greater Noida Sector 3, Sector 10, Sector 12 and Knowledge Park 5.
- The line would connect already populated areas of Gaur City and Noida Extension to the NMRC Aqua Line and the DMRC Blue Line.
- Delhi Metro Rail Corporation will assist in designing and preparing the tender documents, the construction, execution and project contract management will be carried out by the NMRC.
- Will it impact property prices along the stretch?
"Prices may just increase by 5 percent, considering the current market scenario, but that too will depend on several factors such as location, size of the project and most important the track record of the real estate developer," Amit Modi, vice president, Credai, Western UP, told Moneycontrol.
According to Sadiq Din, City Head – Noida, ANAROCK Property Consultants, Noida Metro's Aqua Line Extension will definitely give a major boost to real estate markets in Greater Noida and Noida Extension (also referred as Greater Noida West).
"Lack of connectivity via sound public transport facilities such as metro was a major deterrent for many markets in Greater Noida West particularly. Metro connectivity will also help property prices, which largely remained stagnant since last few years, appreciate and boost sales in the future," he said.
- The extension is likely to impact more than 1.5 lakh families, who would eventually settle in Greater Noida West (located along sectors 118, 121, 122 in Noida and Tech Zone 4, Greater Noida Sector 1 and 2 etc) in the next three years, he said. There are 50,000 families currently residing in the area.
- The housing stock in the area largely comprises of affordable housing units in the price range of Rs 35 lakh to Rs 88 lakh.- Aqua Line currently runs through 21 stations (15 of them in Noida and six in Greater Noida) and covers 29.7 km. of connectivity between these areas. The line between Sector 51 in Noida to Depot Metro stations Greater Noida has been operational since January 2019.