Noida, Greater Noida take center stage in real estate activity

Delhi/NCR

Investment in real estate is rewarding and can fetch you handsome returns. But for this, one must first ascertain the right areas to invest. Apart from Sohna Road and Dwarka Expressway in Gurgaon, there are a number of micro-markets where the returns can be good.

A DTZ report says that due to the scarcity of developable land in Delhi, the real estate activity has shifted to the peripheral locations of Gurgaon and Noida. The report said the primary difference between Gurgaon and Noida lies in the level of planned development and the rate of growth of the region.

While Gurgaon has registered faster development owing to the growth of service industries – primarily IT/ITeS—owing to its proximity to the airport, the development was more haphazard, with poor physical infrastructure. Noida, on the other hand, has far more planned urban infrastructure, with clear demarcations of different residential and commercial sectors.

Noida-Greater Noida

The stretches along the Noida-Greater Noida Expressway and Greater Noida, the planned extensions of the main Noida region, have seen heightened activity in the residential segment in the past two-four years. In Noida-Greater Noida, the sub micromarkets of Noida-Greater Noida Expressway, Yamuna Expressway and Greater Noida West (Noida Extension) are the emerging corridors of real estate development.
Noida-Greater Noida Expressway

Sectors 124 to 144 constitute Noida-Greater Noida Expressway. The micro market has a good mix of commercial, residential, and forthcoming retail, hospitality, educational, and healthcare projects.

Noida-Greater Noida Expressway has emerged as the next ‘go-to’ location for office space due to the shorter travel time (for commuters coming from New Delhi). This is attributed to better approach and negligible traffic congestion, along with better quality of construction, the DTZ report said.

On any given day, during peak hours, it easily takes around 1 hour and 30 minutes to reach Sector 62 from Connaught Place (CP), Delhi, whereas Noida-Greater Noida Expressway is only an hour’s drive from CP.

Infrastructural development and good connectivity have played a vital role in the growing demand for residential apartments along Noida-Greater Noida Expressway. In the last five years, the residential units along the expressway have registered more than 50% increase in average residential capital value—from Rs 3,500 per sq ft in 2009 to Rs 5,200 per sq ft in 2013.

Several prominent developers like Jaypee, 3C, Ajnara, Logix, Supertech, Unitech, etc, already have more than 30 residential projects, at various stages of construction, in the region. These projects range from mid-end to premium segment.

The fast-developing residential segment has given impetus to the ancillary sectors like education, healthcare, and hospitality. Several reputed schools like Delhi Public School, Ryan International, Jaypee Public School, Somerville International School, The Shriram Millennium School, Genesis Global School, Lotus Valley International School, Mayoor School, JBM Global School, etc, are in the area; several colleges are also functional here.

Kailash Hospital, ITS Dental Hospital, and Sharda Hospital are a few hospitals in the vicinity. Additionally, popular hospitality brands like Westin Resort, The Lalit Grand, Grand Hyatt, and Marriott have planned projects along the expressway.

Infrastructure is certainly better planned along the Noida-Greater Noida Expressway. The new master plan has a provision to extend the Metro network and connect Noida and Greater Noida with the developments on the expressway.

A 28km-long track will be constructed between Noida-Greater Noida, which will further be extended up to Yamuna Expressway. This line will link Sector 32 via Sectors 50 and 71. The master plan also has provision for adequate supply of water, power, and sewerage. The plan to develop basic infrastructure includes a road network of over 20km, a 126MW captive-power generator, and sewage-treatment plants with an aggregate capacity of 30,000 kilolitres per day.

As per the master plan, 70% of the total development on Noida-Yamuna Expressway is to be green. Space has been allocated for 40 educational facilities and a variety of retail shopping facilities.

The DTZ report says that the end users should invest in this area primarily due to the well-planned and sustainable infrastructural development along with the availability of affordable and midend residential options compared to its counterpart, Gurgaon.

Investors can get better options—in terms of quality and area—against the same amount invested in Gurgaon. Also, with the new master plan aimed at developing a high-quality infrastructure in the region, the appreciation is definitely going to be worth the investment.

Noida-Greater Noida Expressway certainly has a lot of potential, which it has already started leveraging, given the fact that the established micromarkets like Gurgaon and Noida are expanding towards the periphery now.

Yamuna Expressway

Yamuna Expressway is expected to be the next hotspot for large-scale development like integrated townships, logistics, and warehousing hubs, the report said.

The proposed Export Promotion Zones, which include Taj Economic Zone along the Yamuna Expressway, will accelerate the economic development of the area. Currently, the locality is registering high demand from the middle-income buyers, especially those investors who have a limited budget. With the Formula One race track in international limelight and with several new forthcoming facilities like Jaypee Sports City, Night Safari, etc, the expressway will register the next big wave of development, which will expand the city boundaries.

The residential prices in this region are among the lowest, compared to other parts of the NCR. Hence, investors can expect a handsome appreciation of property prices here. For end users, low price points with projects by major developers present an equally viable opportunity.

In the last five years, Yamuna Expressway registered more than 100% increase in average residential capital values—from Rs 2,200 per sq ft in 2009 to Rs 4,800 per sq ft in 2013.

Between 2009 and 2013, nearly 20,000 residential units across 10 projects, ranging from affordable to mid-segment, have been launched in the area. The area saw the maximum launches in 2010.

Yamuna Expressway is expected to receive nearly 12,000 residential units between 2013 and 2017. Along with residential apartments, Yamuna Expressway also offers options in plots for investment. The residential plots are available in varying sizes ranging from 100-350 sq yd costing from Rs 1 lakh to more than Rs 5 crore. Also, this region has a few township projects announced, and with ancillary developments like Jaypee Sports City and Gautam Buddha University coming up, along with other social infrastructural projects, this region is expected to turn into a large-scale residential hub with world-class amenities.

Greater Noida West (Noida Extension)

Greater Noida West (formerly known as Noida Extension) has always been the hub of affordable housing with the initial project launched back in 2009-10 at Rs 1,800-2,000 per sq feet. At this cost, the dream of owning a home seemed a reality for most of the potential homebuyers and a lucrative investment opportunity for investors.

However, land acquisition issues (litigation over the compensation to farmers) and the Allahabad high court’s order in October 2011 to get the Greater Noida Master Plan 2021 approved before further construction work is taken up, were major setbacks to the Greater Noida West property  market, the report said.

Developers as well as buyers and investors heaved a sigh of relief as the impasse over the area ended with the approval of Greater Noida’s Master Plan-2021 by the NCR Planning Board in August 2012, paving the way for resumption of construction of hundreds of housing projects halted in the area.

Greater Noida West is a developing residential hub with much potential. In order for it to emerge as a self-sustained ecosystem, development at all levels is essential. Hence, developers have also started launching commercial projects to tap the extensive residential catchment. Some of the key commercial projects are Amrapali Techno Park, Premia Corporate City, Earth Commercial Park and Imperia. These townships are also coming up with a number of 5-star hotels, malls, etc.

Greater Noida West has excellent connectivity with Greater Noida, Noida as well as Delhi. The proposed Metro line expected to link the area in the near future has made the location even more attractive. As per the proposed Metro network plan, to provide direct connectivity to the existing Sector 32, the Metro line will be extended up to Greater Noida West via Sector 72.

The 7km-long stretch is estimated to cost around Rs 1,400 crore. At least two stations are proposed to be built on this line. The City Centre Metro station, which is proposed to link Sector 62, will branch out at Sector 71 to take the line till Greater Noida West. A 100-metre wide commercial belt is planned on one side of the 130-meter road as per Master Plan-2021.

In a nutshell, the DTZ report said Greater Noida West is back in the game with the bustle of brick and mortar resumed. However, potential buyers have to carefully evaluate the projects before they buy or invest. They should carry out a thorough due diligence and ensure that the project that they select is clear of all legal encumbrances. The area will certainly register increased pace of real estate activity and will fetch good returns for investors who have an investment horizon of three-four years.

Source: Times Property, The Times of India, Delhi/NCR

For more Information Sanjay Rastogi,   Email Us    Real Estate Developers in Delhi NCR     Real Estate Developers in Greater Noida  Or SMS :SAVIOUR at 53030

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About Saviour Builders

Saviour Builders Pvt. Ltd. is one of the leading real estate developers in Delhi NCR. The Saviour Group is the tantamount to deliver contemporary quality amid excellence and diverse innovation. It has emerged as one of the prominent entities in the real estate sector of India and is into residential, commercial and township projects in and around Delhi NCR. The Group devotes its complete dedication to reach higher and build better. With its immense hard work and loyalty, Saviour has accomplished the dream of delivering various tremendous infrastructures round the city. We intend to provide you with affordable houses in the Delhi NCR region. Some of its significant projects like Saviour Greenisle, Saviour Park, Saviour Street, Gaur City -1, Gaur City -2 and many more have created a new benchmark within the trade. Today, we have our presence at Noida, Noida Extension, Greater Noida (West) and Ghaziabad. We, at Saviour, are building homes based on trust and you are invited to build your future with us. We help you live your dream of living in style.

Posted on November 14, 2013, in Real Estate and tagged , , , , , , , . Bookmark the permalink. Leave a comment.

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