Residential Apartments Noida Expressway

Residential Apartments Noida Expressway

Another major development has boosted the sentiments of Greater Noida real estate sector. The Gautam Buddh Nagar district Court have given a green signal to complete Greater Noida - Noida Expressway in Greater Noida. The completion was held up due to issues related to land acquisition. The settlement has been done between the landowners, the homeowners and Greater Noida (Greater New Okhla Industrial Development Authority). Although the negotiations has already been going on between both the parties from the past couple of months. Greater Noida and the petitioners have agreed on a settlement wherein the real estate agency will be given alternate land in the close by regions like in 37C and 110A in Greater Noida along with compensation to rebuild their houses.

With this settlement, the landowners seem to be in a favorable position, as they will be getting bigger size plots, money for constructing their new home in case if they already had their houses constructed and they will be able to pay for their extra land in the span of eight years in eight free installments without any interest. However, in order to start the construction of the expressway immediately, Greater Noida have received the possession of the empty lands. The homeowners of New Palam Vihar region have been given the deadline till January, 2020 to evacuate their homes. In the meantime, the new lands will be handed over to the homeowners and they can start the construction of their new home. ATS Rhapsody Floor Plan / ATS kabana high Floor Plan / ATS Nobility Floor Plan / ATS Veritas Floor Plan

Also, within the past few years, almost 100 residential real estate projects are launched along the expressway stretch, that counts around 40,000 apartments. The access to these apartments has been restricted due to the incomplete road since 2020. So this step removes all such hurdles and brings a huge relief for the 40,000 home buyers as well. Overall, this settlement is a significant step towards pushing up the real estate sector especially in Delhi. The 18 km long Dwarka -Manesar Expressway or Northern Peripheral road is an alternate link between Greater Noida and Noida. Therefore, the construction of the expressway will provide smooth connectivity to both the places. Thus, this infrastructure development will encourage increased in real estate projects as there shall be a rise in housing demand as well from the home seekers side.