Yamuna Expressway – Destination Next for Real Estate
Sarthak Gaur, Director, Gaurs Group
What have been the catalyst for development across Yamuna Expressway region?
There has been high-quality real estate development in Gautam Budh Nagar, especially the Yamuna Expressway, which has helped the region have its own vibrant ecosystem. The region today draws its strength not just as a suburb of National Capital Delhi but as a robust industrial and cultural powerhouse. The lightning speed of development of trade and commerce in the region has been ably matched by building of convention centers, theatres, food courts, banquet halls and other cultural landmarks.
The real estate developers, on one hand, have provided international class commercial and residential buildings. The government, on the other hand, has matched up with various infrastructure projects like roads, highways, metro train connectivity, etc. This attracted a lot of MNCs and Indian corporates which set up their headquarters, regional offices and even R&D centres. The region around Yamuna Expressway has the best offices and industrial properties. There are many large international companies that have either already established their presence or are in the process of setting up their offices here. This has also resulted in the best of workforce from around the county coming and settling down in this region.
The recent international events and geo-political happenings have caused whole lot of global companies to shift their manufacturing bases to India. These companies have been effectively lured by the states of Uttar Pradesh and they are coming and choosing the vicinity of Yamuna Expressway for setting up their manufacturing units.
Which are the new projects that will prove to be a shot in the arm?
With the largest airport of Asia-Jewar Airport coming up in close proximity of the region, there will be a direct impact on the real estate market. International connectivity will not only help the corporates, but will compel a lot of other people who are connected with airport and aviation business to settle down here. The development of such a large world class infrastructure project is providing a new kind of dynamism to the region. Such dynamism is resulting in even better shopping malls, offices, condos and even studio apartments in the region. There will be a big boost to the hospitality sector in the region as the international travelers will look for staying options near the airport, just like in any other global city.
Another project that will further provide vivaciousness to the region will be the new Electronic City cleared by the state government recently. The 700 acre project will result in region and the state as a whole become a major hub of electronics system, design and manufacturing. This will also drive innovation and foreign investment in the field of electronics in the state. The electronics manufacturing units will act as main source of products for the logistics hub and multiple freight corridors that are planned near Dadri.
One of the biggest film cities in the country is now coming up next to Yamuna Expressway which will not only drive economic activity but also prove to be an important milestone in making the city a hub for entertainment and cultural hub. There has already been a flurry of investment in the 1,000 acre project site and project is proving to be a huge money spinner for all the related industries. This is also driving the demand for good residential projects, apart from other things.