Demand for housing in Noida Expressway yet to pick up

 hope in the government’s final notification setting limits of 100 metres around the eco-sensitive zone around the Okhla Bird Sanctuary on August 19, 2015. With 60,000 apartments expected to be delivered, realty experts, too, said they expected a revival of the Noida market, with which most of the projects around the bird sanctuary are associated. Till date, major signs of revival are still not visible in the market.

Positive outcomes so far have been the slight pick-up in demand in the existing inventory, as claimed by developers; issuing of completion certificates by Noida Authority for housing projects, enabling many homebuyers to get legal possession of their apartments after long delays.

The situation is no different along the Noida-Greater Noida Expressway, a 35 km six-lane highway which connects Noida with Greater Noida, once marketed by developers in the area as the USP of their projects with real estate activity as subdued as in other Noida areas. “Any project along the Noida Expressway boasts of a prime location and easy connectivity to Delhi, Greater Noida and other sectors within Noida, but as other Noida sectors have become equally well-connected and have better locations, the highway can no longer remain a major attraction for buyers. Housing projects in other sectors of the city have also been delivered, but delayed possession in projects near the Expressway means dashed hopes of homebuyers,” says Gaurav Tiwari, a Noida broker who had to shut shop because of poor demand for housing in the market. Now working as a senior relationship manager with a leading real estate consultancy firm, he says “We literally have to beg customers to buy apartments. It is difficult to market premium projects along the Expressway,” Tiwari adds.

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