Surge in Land Acquisitions on Noida Expressway: A Comprehensive Overview

Team Opulnz Abode:12-11-2023,12:12am: Read Time – 1.5 mins

Overview of Land Acquisition

In the past year, prominent companies like Max Estate, L&T Realty, Gaurs, Saya, Paras, and Gulshan have made extensive land acquisitions along the Noida Expressway. These acquisitions, valued at around Rs 3,000 crore, have initiated projects with a projected revenue potential exceeding Rs 10,000 crore. The area, especially the Jaypee townships in Noida and Greater Noida, has witnessed a significant spike in real estate activity despite the ongoing insolvency issues affecting over 20,000 homebuyers awaiting their homes’ delivery.

Impact of Jewar Airport and Governance Improvements

The anticipated opening of the Jewar airport and the Uttar Pradesh Government’s push for private-sector investment have significantly enhanced the intrinsic potential for urban development in Noida. Improved governance and law-and-order situations have also contributed to a surge in demand for upper-end and luxury residential developments, making Noida a prime real estate location in the NCR, with property prices doubling in less than a year.

Strategic Use of Land Parcels

Land parcels along the Noida Expressway are being targeted for various developments. While some are earmarked for retail and office developments, others within the Jaypee townships are used to construct upscale residential properties. This diversity in land use is attracting a broad spectrum of investors and developers to the region.

Major Land Acquisitions by Developers

Gaurs Group: This Noida-based group recently acquired 18 acres of land in Sector 129 of Noida from a financial institution, adding to their previous acquisition of a land parcel in Jaypee Greens for Rs 200 crore.

Saya Homes: Saya Homes took over IIFL’s Rs 350 crore debt for a stalled project near the Noida expressway in Sector 129.

Max Group: Max Group acquired a 4-acre land parcel from Axis Bank in an auction in Noida’s Sector 129 for Rs 220 crore.

Paras Buildtech: Delhi-based real estate developer Paras Buildtech purchased a 2-acre land parcel for Rs 91 crore from South Indian Bank at Sector 129.

Conclusion

The current land acquisition spree on the Noida Expressway indicates robust growth and potential in the real estate sector. This trend is fueled by the area’s strategic location, upcoming infrastructure projects like the Jewar airport, and the overall improvement in the region’s investment climate.