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Why Invest in Noida Real Estate?
NOIDA, the acronym for New Okhla Industrial Development Authority, is located on the left bank of the river and is at an equidistant distance from Ghaziabad and Delhi. Developed in 1976 across river Yamuna as a modern industrial city; Noida has emerged as a planned, integrated, modern Industrial City that is well connected to Delhi through a network of roads, national highways and the ultra-modern DND flyover, offering inter-road linkages to different parts of North India.
With extensive growth of population in NOIDA during the last three decades, NOIDA is one of the largest planned industrial townships of Asia, which symbolizes harmony between human habitat and Industrial Enterprise in India. This has spurred a series of investment in both commercial and residential real estate in NOIDA in the last few years. This phenomenal development has also created job opportunities (both skilled and unskilled) in the city which can be considered a viable reason for the influx of population.
Noida like any other progressive city in India with better infrastructural facilities has lately become an operational hub for multinational firms outsourcing IT services. Many large software and BPO companies have their offices in the city and many more are contemplating to invest in the city. Noida has the head-office of the Software Technology Park (STP) and is fast emerging as the hub for automobile ancillary units with major car manufacturers having already started their operations.
NOIDA in the present times has emerged as one of the most enviable destination for property investors. Besides improved living conditions, premium educational facilities and lucrative job opportunities; NOIDA offers a pollution free and a highly supportive industrial environment with its unique infrastructure providing numerous and matchless facilities.
As an important part of the Industrial landscape of India, NOIDA today exemplifies an enviable monument of the concept of integrated Industrial Township, with its smooth and wide roads, well developed land, uninterrupted power supply, clean and safe drinking water, unfailing telephony, and splendid residential complexes in a serene and peaceful environment. All these factors are hugely responsible for making NOIDA one of the best places to invest in.
Residential Property in Noida
Noida offers ultra modern infrastructure where nature has not been compromised, thus offering a healthy lifestyle.
The residential sector in Noida is on a high growth wave. As more and more investments are pouring in for the IT & ITES sector, the population of Noida is also increasing by the day. This has consequently created a demand for residential properties in Noida. With the appreciation in Noida property prices in the recent past, people are taking this as an opportunity to buy property in Noida as a viable investment option.
This property investment trend in Noida has also prompted many investors from the adjacent cities of Delhi and NCR to buy property in Noida as an investment property. These investment properties in Noida are given out as rental apartments or rental homes; which are most sought after by the corporate population.
Expected Foreign Direct Investment of 30,000 crores in the coming years will be the icing on the cake. Non-Resident Indians (NRIs) are showing a preference for luxury apartments as a second home as part of their real estate investment portfolio.
Indian real estate in the residential sector is growing at an annual rate of 30%. Prices for residential properties in Noida have stabilized but some sectors show a visible fall in prices. Industry experts are of the opinion that this can be attributed to the increasing number of realty deals taking place in Noida.
Noida boasts of a phenomenal demand for residential units, in addition to considerable demand for commercial and retail space. The prime residential areas in NOIDA are located in Sector 14, 15, 27, 28, 29 and 37. All these sectors predominantly consist of plotted housing, while Sector 44 predominantly consists of Group housing. Trend shows moderately high absorption rates in the residential spaces. Most of the buyers are taking residential properties as a second home or for investment purpose.
These residential properties in Noida range from the flats/apartments, independent houses to high-end luxury homes like bungalows, villas, condominiums and penthouses. Moreover, real estate developers in Noida in their bid to survive the competition are coming up with innovative projects and facilities.
Commercial Property in NOIDA
The corporate industry in recent years has viewed NOIDA as a commercial address which has not only fuelled the growth in these areas but has also managed to check the real estate prices. In the highly buoyant commercial real estate market, rentals transactions seem to be the order of the day.
The properties are fetching returns of 10% p.a as rentals on the capital value of the property. With the likely hood of more corporates moving into these commercial areas in NOIDA, where the supply too is on the increase, the real estate prices are expected not to show too much of a movement either ways.
Demand for Noida properties is likely to reach an all time high with the Noida Board planning to develop one of the largest commercial spaces in the region. The project will take shape on 225 acres on the Noida-Greater Noida Expressway and the scheme is launched in January, 2007. The land is located in the sector 94 and 124. According to the estimates, the area will accommodate the construction of 6,000 offices, each of 100-200 sq.m.
Office Space: As conglomerates, both Indian corporates and MNCs are scouting for commercial spaces; NOIDA is emerging as a preferred IT & ITES destination of India. Real estate developers in Noida in their bid to lure investors are coming up with state-of-the-art office spaces as per international standards.
The most preferred locations for IT companies are sector 29, 57, 58, 59 & 60. Major office complexes of the town are located in and around Sector 18. As a result of recent addition of IT projects, the annual supply of IT space in NOIDA has now become approximately 0.78 Million sq ft, against the average demand of 0. 52 Million sq ft.
This increasing growth is well recognized by local authorities and efforts are being made by them to promote IT sector especially small entrepreneurs. Moreover, many BPO companies have also acquired office space in Noida.
Retail Space: Sector 18 is a major retail market of the city, which consists of high street shops as well as shopping malls. High street shops are available both on rent as well as on sale and the size varies from 200 - 500 sq ft. Some of the large shopping mall by prominent developers is under construction.
Greater Noida grows further
A K Tiwary
[ TIMES NEWS NETWORK ]
As the real estate activities are on the rise in NCR of Delhi, Greater Noida — a new suburb around 40 km from Connaught Place in Delhi and next to Noida — is in the thick of the real estate development activities.
After the announcement by prime minister, Manmohan Singh at the inaugural ceremony of India’s largest Expomart , just near the Express-Way in Greater Noida, an international airport in Jewar, things have further improved. For the proposed Jewar airport , ministry of civil aviation has ear marked 1700 acre land.
To extend Greater Noida’s land area or border area the authority has proposed to acquire land in 168 villages from Greater Noida’s urban area up to Jewar. By this proposal villagers are busy in making the money as the real estate prices have leaped high. Here, in the proposed villages the prices have gone up from Rs one lakh an acre to Rs 20-40 lakh per acre in no time.
In fact, the new city will extend to Dadri. Keeping in view the coming up of Reliance power project, the state government is planning to launch a new authority called Dadri Industrial Development Authority (Dida). According to department of planning, GNIDA has already ear-marked 45000 hectare land in Dadri, Ghaziabad , Bulandshahar and Sikandrabad.
The proposed Dida and new NCR city have brought a boom in the property trends. Property prices are soaring high in both industrial and residential segments .
To develop the IT city GNIDA has plans to launch a 1600 acre IT city near the Express-Way highway. Wipro group is coming up with mega-IT project in Greater Noida. Wipro chairman, Azeem Premji after visiting the site has announced to set up an IT hub in Greater Noida, for which the Greater Noida Authority (GNIDA) has allotted 150 acre land to the Wipro group.
Better days ahead for Delhi airport
THE SHAPE OF THINGS TO COME: The proposed new-look Terminal 3 for Delhi airport
NEW DELHI: With just over three years to go for the 2010 Commonwealth Games here, Delhi International Airport Limited on Wednesday unveiled its 1.5 billion dollar (about Rs.6,750 crores) grand plan to upgrade Indira Gandhi International Airport to a world-class facility. The modernisation programme would include creation of a state-of-the-art integrated terminal and one of the longest runways in Asia.
Releasing the Master Plan for airport expansion and modernisation, DIAL Managing Director Srinivas Bommidala said: "The Commonwealth Games will be a platform to showcase the modern face of India, particularly Delhi. By 2010 we aim to upgrade the Delhi airport to the level of the best airports in the world like Frankfurt, Dubai and Singapore."
The Master Plan, which has been submitted to the Government for clearance, envisages construction of an integrated passenger terminal that would cater to both domestic and international traffic, accommodating as many as 3.7-crore passengers per year. The new "Terminal 3" would have 55 aerobridges and 30 remote parking bays for passenger embarkation and disembarkation. Six of these aerobridges would be compatible with Airbus A380s.
The roof of the new building will have stylised incisions that will not only protect the interior from direct sunlight but also use natural light to create a calming ambiance offering a maximised sense of volume and space. It will, on the other hand, reduce dependency on artificial light during daytime.
Mr. Bommidala said there are plans for a wide variety of restaurants, bars, shopping and duty-free purchasing complexes for the convenience of passengers, and to make available modern communication equipment for business travellers. The airport will also have a hotel for passengers.
The two-tier terminal building will have the departure complex at the upper level and the arrivals at the lower. The state-of-the-art security system will have Common Use Terminal Equipment and an advanced in-line baggage handling system with X-ray machines for smooth functioning. The check-in zone will have over 130 counters to facilitate quick clearance of passengers, whereas 70 desks will be set up for international passengers for an efficient emigration procedure.
Terminal 3, which will form the first phase of the airport expansion plan to come up with a U-shaped building in a modular manner, will by 2010 be fully functional for international and domestic carriers.
"By 2008 the Delhi airport will have one of the longest runways in Asia measuring 4.43 km. The runway will be capable of handling next-generation aircraft. The new domestic terminal will be operational with a capacity of one-crore passengers per year, and the international terminal will also be modernised and upgraded," said Mr. Bommidala. With an upcoming high-speed Metro Rail connectivity and a six-lane connecting road to the airport complex, passengers are expected to have a through-and-through joyride.
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