Over the past few years, Noida has come into the limelight for its real estate ventures and the alluring property market. Considerable improvements in infrastructure and the city’s strategic position have greatly enhanced property development. With new projects and initiatives being developed, the dynamics of property in Noida are changing at a breakneck pace, and there are numerous opportunities to invest or live here.

In this blog, we will discuss some of the recent changes that are currently affecting the property market in Noida, how these changes can translate to an appreciation in property prices, and what this means for those interested in buying or investing in a property in this area. Let us explore the potential of property in Noida and the forces that propel its growth.

YEIDA Commences Work on Fintech City DPR

The Yamuna Expressway Industrial Development Authority, also known as YEIDA, has named the global real estate services firm Cushman & Wakefield to prepare a DPR for the Fintech City, which will be developed on 350 acres of land in Sector 9 near the Noida International Airport. This city will be home to financial services-linked institutions.

YEIDA has indicated its desire to set up a FinTech Hub to attract investments to this area. A FinTech hub is mainly established for financial services, which are greatly supported by information technology and IT departments.

Property in Noida

The cornerstone areas that could be components of a Fintech hub could include IT, ITeS, commercial space, banking and financial services, stock exchanges, stock brokers, insurance and reinsurance, KPOs, BPOs, trading, banks, and hotels.

The Fintech Hub focuses on encouraging innovation, new technologies, and start-ups in the digital banking, digital app-based lending, crowdfunding, electronic payment services, and insurance technology industries, among others.

The YEIDA CEO further added that they want to attract international institutions like the International Monetary Fund, the World Bank, and the Stock Exchange to the region. Spaces for the corporate offices of large banks would also be provided in this area adding up the value of property in Noida.

The Fintech Hub project will also be covered by the Uttar Pradesh Foreign Direct Investment (FDI) policy, under which companies with 100% FDI will be eligible for land subsidies.

Also, it has been proposed that the companies will be provided grants for Research and Development for five years, training for skill development, and several other monetary benefits.

NHAI Plans To Build An Expressway Connecting Kanpur And Ghaziabad-Noida
Efforts are afoot to connect Delhi and Noida to major cities in India swiftly. Uttar Pradesh has already developed a huge network of expressways, and three are currently in the pipeline. New expressways are expected to cut the travel time from Noida to Lucknow by almost half, reducing the total distance by more than 70 km.

What To Expect From The New Expressway?

NHAI has recently proposed an expressway from Kanpur to Ghaziabad-Noida. Construction of a new expressway directly connecting Lucknow and Kanpur is also underway. When finished, two roads will connect Noida to Lucknow: the recently built Noida Kanpur and Kanpur Lucknow Expressway and the present Agra and Yamuna Expressway.

A 380 km expressway between Noida and Kanpur is expected to be ready by 2026 making the area even more enticing for those interested in investing in property in Noida. The land acquisition for this project is said to be 90% complete, and the Ministry of Road Transport and Highways has been informed of the detailed report.

Changes To Travel Time
The 63 km expressway is planned to run through Kanpur and Lucknow and is expected to be completed before early 2025. At present, the distance between Noida and Kanpur is 380 km and between Kanpur and Lucknow is 63 km, making the total 443 km.

The existing Agra and Yamuna Expressways together take over 7 hours to reach Lucknow from Noida. The new expressways will reduce travel time from Noida to Kanpur and Lucknow. The overall duration of the journey is approximately 4 hours, where commuters can travel from Noida to Kanpur in 3 hours and 20 minutes and from Kanpur to Lucknow in approximately 35 minutes.