Noida News 12 feb 11

8/7/2019 Noida News 12 feb 11

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Publication: The Times Of India Delhi; Date:2010 Nov 13; Section:Times Property; Page Number 49

BIGGEST PLANNED CITY IN INDIA

In order to extend the area of the twin cities, a draft plan of Greater Noida Extension has been prepared. With this,Greater Noida will have the largest area in the NCR, says A KTIWARY

Keeping in view the rising demand for land, Greater Noida authority is all set to finalize a draftplan for the city. With this, the proposed area of Greater Noida Extension will have three timesthe area as the first planned modern city of India, Chandigarh designed by the Frencharchitect Le Corbusier with an area of 114 sq km. The proposed Greater Noida Extension will

have an area of 58,000 hectares. The draft plan has been prepared by E F N Ribeiro, formerdirector of School of Planning and Architecture, New Delhi.At present, Greater Noida is spread over an area of 36,000 hectares. With the proposed

extension, the total area of Greater Noida will be 94,000 hectares.According to a land bank report, Noida, which is stretches over 23,000 hectares of land, is

almost saturated. Out of 23,000 hectares, 15,000 hectares have been planned for development.Eighty per cent of this has already been completed.

Another option for growth for Noida-Greater Noida is the Yamuna authority, which is beingdeveloped over 50,000 hectares up to Jewer. Rama Raman, CEO of Greater Noida IndustrialDevelopment Authority (GNIDA), says that with a projected population of seven lakh up to 2011and 12 lakh up to 2021, Greater Noida city has been designed for planned growth to ensure thatsupply will always exceed demand. As many as 25,000 plots have already been allotted tovarious professionals and senior executives. There are now affordable homes in the localities likeSector 1, 2, 3, 4, 5, and 6 of Greater Noida, which are also known as Noida Extension. The cityis being developed on 20,000 hectares with wide roads, underground cabling and drainagesystem. Its infrastructural facilities are of international standards. Undoubtedly, this city offerscustomers a lifestyle living in a prime suburban neighbourhood that everyone dreams of ahome with large rooms amidst open spaces that encompass lawns, gardens and a driveway;also, other basic civic infrastructure like 24x7 power and water supply are also available here.

Now, all this is within the reach of residents of Delhi who may want to shift here commutinghas become easy to and from Delhi via the DND Flyway and a six-lane expressway.

R K Arora, MD of SupertechGroup, says: Today, Greater Noida is seeing a lot of developmentand investment potential. It has become a cliche to say that now real estate sector is all aboutthe NCR region. High prices and non-availability of space in Delhi have seen developers pushingtheir projects in the NCR region, which are now flooded with malls, multiplexes and townships.

Good connectivity with Delhi and an increased demand for housing caused rapid expansion of population in the NCR. Following in the wake of developers, people flocked to places like Noida,Greater Noida, Ghaziabad, Gurgaon and Faridabad in search of good housing options. Realtysector is abuzz in other places like Sonipat, Baghpat, Bhiwadi, Manesar, Dharuhera, and Meerutas well. All these regions give a buyer an ample scope to choose the region of his or herconvenience.

J B Kramchandani, president (architectural cell) of Jindal Group, says that one of the bestchoices to have come up in the NCR is Noida. This sub-city is also catching up on the lifestylefactor as the authority has planned for an overall development of the city with focus on traffic,flyovers, Metro link, parks, widening of roads, etc. The Noida authority has started widening theexpressway roads, constructing bridges and flyovers, besides widening several internal as well


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peripheral roads.In Greater Noidas Sectors 1, 2, 3 and 4 (Noida Extension), the authority has already sold

more than 3,000 residential plots. In addition, 600 acres of land has been allotted to 12builders. In another phase, 800 acres of land will be allotted among 18 builders. Noidas sectorslike 77, 76 and 78 all near the Greater Noida Extension are being developed fast. Antriksh,Kanball, Prateek, Amrapali, AVS, Mahagun, Supertech, Nimbus,Skytech, etc, are all are coming up with mega housingproject here. Many developersare coming up with projects on this stretch to meet the burgeoning demand of the middle class.And, because of good connectivity and affordable rates, projects here are selling at a rapid pace.Parsvnath, Landcraft, SVP Builders, Shreya Group, Ashiana, KLJ, and KDP Infrastructure aresome of the developers present here. Eastern Peripheral Expressway will be very close to thisarea. What sets Noida apart from other places is the availability of basic infrastructure in thevicinity. Adjoining areas of sub-cities like Kaushambi, Vaishali, Indirapuram and others are alsowitnessing tremendous growth in the residential property market.

Greater Noida is hailed as a hot seat of real estate in the NCR. It is just half an hour drivefrom Delhi via the DND flyway and six-lane expressway from Noida. Various educationalinstitutes, hospitals, clubs, the Jaypee golf course, wide roads, lush greenery and huge openspace add to the demand of this place. Plots and apartments in many sectors are also availablein the secondary market.

LAND BANK

Noida (total area): 23,000 hectares Area planed for development: 15,000 hectares Commercial:4% Industrial: 15%The existing area of Greater Noida: 36,000 hectares Residential: 23% Commercial: 7% Green:23% Industrial: 19.7% Transportation: 12%Greater Noida Extension (Proposed): 58,000 hectares (Greater Noida Extension comprises 155villages of Greater Noida, Hapud, Bulandshahar and Sikandrabad)Yamuna Authority (total area in Phase 1): 46,000 hectares International Airport at Jewer: 234hectares

QUICK BITES

IN GREATER NOIDAS SECTORS 1, 2, 3 AND 4 (NOIDA EXTENSION), THE AUTHORITYHAS ALREADY SOLD MORE THAN 3,000 RESIDENTIAL PLOTS

GREATER NOIDA IS HAILED AS A HOT SEAT OF REAL ESTATE IN THE NCR. IT ISJUST HALF AN HOUR DRIVE FROM DELHI VIA THE DND FLYWAY AND SIX-LANEEXPRESSWAY FROM NOIDA


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ZOO BY NIGHT IN GREATER NOIDA

Shortly, hundred of exotic animals are set to range about in a vast natural reserve-like zoo in Greater Noida, which will be the fourth such night safari in the world. A

K TIWARY reports

All the wildlife lovers hold your breath you are in for a pleasant surprise! India isgoing to start its first ever night safari in Greater Noida. It will definitely be a magicalexperience and easy on your pocket too. Shortly, hundred of exotic animals are set to rangeabout in a vast natural reservelike zoo in Greater Noida. With this, the industrial township of Uttar Pradesh will be the fourth in the world after similar facilities in Singapore, China andThailand, to introduce the concept of zoo by night.

Rama Raman, CEO of Greater Noida Industrial Authority (GNIDA), says:

We have already got clearance from the Central Zoo Authority of India and the SupremeCourt of India. A total of 150 acres of degraded forest land in Murshadpur (on the bank of the 165km-long Yamuna Expressway) in Greater Noida has been earmarked for the project.The detailed report has been prepared by Bernard Harrison who is the consultant for thesafari. A former director of the Singapore Zoo, he served the organization for 30 years andwas also instrumental in setting up the night safaris of Singapore and China.

Raman adds:

Due to financial constraint, work was stopped for the last two years. In a recent meeting of GNIDA, it has been decided to speed up the project. After the approval of the GNIDA Board,work will start within the next four months. However, the names of two other sites - inChennai and in Hyderabad - have also been suggested for the night safari.

What is a night safari:

It is a natural reserve-like zoo which will be open at night. Obviously, now that work isgoing to resume on project, all the channels are going to town with the news and everybodyis looking forward to it. This nocturnal zoo will hopefully be among the most popular touristattractions in Greater Noida.

The concept of this zoo is based on the lines of the open zoological gardens alreadyestablished in China and Singapore. It will unfold the mystery and drama of the wilds in the

jungle after dusk. Until now, Greater Noida was the industrial destination but once the nightsafari project gets up and going, it may be one of the biggest tourist attractions.

Mohinder Singh, chairman of GNIDA, says:

Night safari project at Greater Noida is an effort to create awareness about ourbiodiversity. The animals will be confined to the specified spaces and the park will beproperly illuminated with lights. It is an ambitious project which would cost around Rs 100-150 crore and the project has been designed to match international standards.

QUICK BITES

A TOTAL OF 150 ACRES OF DEGRADED FOREST LAND IN MURSHADPUR (ON THE BANK OFTHE 165KMLONG YAMUNA EXPRESSWAY) IN GREATER NOIDA HAS BEEN EARMARKED FORTHE PROJECT


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THE ANIMALS WILL BE CONFINED TO THE SPECIFIED SPACES AND THE PARK WILL BEPROPERLY ILLUMINATED WITH LIGHTS; THE PROJECT WILL COST AROUND RS 100-150CRORE


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NOIDA-GREATER NOIDA AND GHAZIABAD ONTRAFFIC-FREE DRIVE

GNIDA has planned four underpasses, two elevated roads and an extension of Metro link for Noida-Greater Noida and Ghaziabad and a DPR has already beenapproved, says A K TIWARY

Noida-Greater Noida and Ghaziabad are on a decongestion drive and are moving ahead todeclog the roads and highways leading up to Delhi. The Greater Noida IndustrialDevelopment Authority (GNIDA) has planned to build four underpasses, two elevated roadsand an extension of Metro link for the purpose.

A detailed project report (DPR) for these projects has already been approved. Noida-Greater Noida authority is approaching the departments concerned to raise funds. If theseprojects see the light of day, property rates in this region may double.

Rama Raman, CEO of GNIDA, says: "After submission of the DPR, we are approachingfinancial institutions for viability gap funds and tax exemptions to meet the requirement.According to our plan, 16 Metro stations have been proposed in the 28km-long Noida-Greater Noida Metro link, which will cost around Rs 4,000 crore. Nearly 65,000 dailycommuters are expected to use the facility during peak hours. Soil testing and otherproject-related work is expected to commence this November and the whole line is slated tobe completed by 2012.

This proposed Metro link will connect Ghaziabad in the second phase of the plan. Toconnect the twin cities to all the other NCR cities like Ghaziabad, Gurgaon and Faridabad,GNIDA has made out a proposal - the chain of connectivity - which has already discussedwith the DMRC.

For the chain of connectivity, GNIDA has proposed two new Metro links which cover all themajor areas of Delhi and the NCR.

Under the new Metro Link 1, existing Metro terminal at Sector 32 (City Centre) will beextended up to Sector 62 and further connect Ghazipur (Delhi). This new link will cover G ha z i p u r, K a lya n p u r i ,MayurVihar Phase1, Sarai Kale Khan, Moolchand, AIIMS andBhikaji Kama Place. And through a new Metro Link 2, Sector 18 will be extended up to NH8.It will cover AIIMS, Okhla, Nehru Place, Malviya Nagar and VasantKunj.

This will further connect to Gurgaon and Faridabad via Central Secretariat and Badarpur.In addition, the Metro project is to be implemented in Ghaziabad in three phases. The firstlink to Vaishali is already underway. The 2.52km-long Metro link will originate fromAnandVihar, which is directly linked to Rajiv Chowk via Vikas Marg. The estimated cost of AnandVihar-Vaishali Sector is Rs 300 crore. For this, the UP government has paid half of the

amount to DMRC. This route will go up to Indirapuram, which connects to Noida Sector 32via Sector 62.

Extension of Vaishali-Indirapuram Metro route is now under progress. Further, Vaishali-Indirapuram will link to Mehrauli via Noida crossing 62, CISF, PratapVihar, Dundahera andShahapur in Phase 2. The length of this line is 16km. The total travel time to Rajiv Chowk is35 minutes. In Phase 3, the Metro will connect Ghaziabad bus stand to ISBT (KashmereGate). The length of this line will be 12km. To improve the city-level infrastructure, Noidaand Ghaziabad entered a new phase of development with intense planning andimplementation civic and social infrastructure. In Ghaziabad, road infrastructure is slated fora major boost with 17 flyovers, including three clovers leaf ones, to be implemented overthe next five years.


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AnMoU has been signed with the UP State Bridge Corporation Ltd (which made the AIIMSand DhaulaKuan flyover in Delhi) for five more flyovers, including a clover leaf at Meerutroad crossing. Apart from this, the Metro link will provide a network and not just as a tokenpresence in the region. The city will benefit from the 6/8-lane expressway linking Delhi toMeerut, Hapur and Bulandshahar. These three expressways, as well as the Delhi Metroperipheric (planned along the lines of the Paris peripheric) will be part of the newdevelopment in Ghaziabad. The Metro touching the AnandVihar bus terminal is makingheadway. Like Noida and Greater Noida authority, the Ghaziabad Development Authority's(GDA) proposal of an express highway linking Meerut crossing to NH 24 will createintegrated flyovers at all level crossings. In addition to the Metro service, the NorthernRailway project (Integrated Railway-Bus Transport system) will make commuting easybetween Ghaziabad and Delhi.

Proposed Metro stations in Greater Noida

City Centre (Sector 32), Sector 51, Sector 52, Sector 78, Sector 81, Sector 83, Sector 137,Sector 143, Sector 151, Knowledge Park 1, Knowledge Park 2, Parichowk, Alpha 1, Alpha 2,Delta, Knowledge Park 4, Recreational Green and Boraki Daily commuters: 65,000 (peakhour)

Another proposed Metro link

New Metro Link 1Noidas Sector 62 to NH 24 via Ghazipur, Kalyanpuri, MayurVihar Phase 1, Sarai Kale Khan,Moolchand, AIIMS and Bhikaji Kama PlaceNew Metro Link 2Noidas Sector 18 to NH 8 via AIIMS, Okhla, Nehru Place, Malviya Nagar and VasantKunj

QUICK BITES

AFTER SUBMISSION OF THE DPR, GNIDA IS APPROACHING FINANCIAL INSTITUTIONS FORVIABILITY GAP FUNDS AND TAX EXEMPTIONS TO MEET THE REQUIREMENT


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Publication: The Times Of India Delhi; Date:2011 Jan 28; Section:Times Property; Page Number 63

BUY HERE. BUY NOW. BUY CHEAP!

It is a good time for end users to buy property in Noidaand Greater Noida as prices are still static here due to anoversupply of housing units. But the prices may rise soonin keeping with the national trend. PRABHAKAR SINHAwrites

The real estate market is booming again and prices in most of the markets acrossthe country have risen by 30% to 60% in the last one year.

In the National Capital Region (NCR) of Delhi, prices have risen in most of the areasexcept in Noida and Greater Noida. This is a great opportunity for home buyers to fulfil theirdream and purchase a house before prices in Noida and Greater Noida start following theall-India trend.

Prices in Noida and Greater Noida have not risen in the last two years mainly because of an increase in the supply of apartments and villas. According to realty consultancy firmPropEquity Research, since 2008 - when the realty market was hit by the global slowdown private developers launched 95,474 housing units in Noida alone, which will be deliveredby 2014. Against this, at present, Noida has around 99,000 units of urban households witha population of 6.5 lakh. This means, in the next three years, the number of Noida's urbanhousehold units will double.

Today, major construction is taking place in Greater Noida, particularly in Sectors 1, 2, 3,4 and Sector 16, with a number of builders developing townships. According to oneestimate, nearly 1.50 lakh housing units are planned to be built in these sectors in the nextthree to five years. The major developers in these areas are Amrapali, Gaursons andSupertech, among others.

Such a huge supply of housing units could be made possible because of the decision of the Uttar Pradesh government and Noida and Greater Noida authorities to make availablelarge tracts of land for the construction of housing units. Such an active participation of thestate government and local authorities will help Noida and Greater Noida to emerge asmajor centres of realty activity in Delhi NCR. The authorities have also allocated large plotsof land for non-polluting industries and for office purposes. A number of colleges, schools,hospitals, sports centres are proposed to be developed in these areas.

Another important fact that goes in favour of Noida and Greater Noida is the availability of large land banks to sustain the development work. The construction of Taj Expresswaybetween Greater Noida and Agra has brought in a vast area for development of townships.The local authorities and the state government havealso proposed to develop an airport in the region, but the project is still hanging fire due to

some legal issues. A senior official of the authority, however, said the government is seriousabout the development of the airport, which is essential for the region as the existing IndiraGandhi International Airport is far off from new areas like Jewar and Greater NoidaExtension, which are now at an advanced stage of development.

Another attraction of the area is the construction of Formula One racing tract near Jewaron the Taj Corridor. This will lead to further development of infrastructure in the region andbenefit the local residents. On the infrastructure front, Noida and Greater Noida are farsuperior to other areas in the Delhi NCR. With the decision of the authority to take Metroline to Greater Noida, things will further improve.

But on the price front, luckily because of the oversupply condition it is yet toappreciate since 2008. According to a report prepared by PropEquity, prices have fallen


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since then. Weighted average price of all the projects in the third quarter of 2008, when theglobal financial markets were in turmoil and had affected the Indian economy, was Rs 5,280per sq ft. This had continuously fallen till first quarter of 2010, when it reached Rs 3,333 persq ft. Since then, it has started showing some upward trend in Noida. According to thelatest available data, till the third quarter of 2010, it has inched up to Rs 3,405. The slightrise in the weighted average price is because of the launch of some of the premium projectsby the developers.

In this Special Issue, we have brought out detailed charts of available projects in theregion with the last quoted prices. From the charts, it is clear that Greater Noida is at thetop the list in the affordable housings category in the region. In Greater Noida's Sectors 1,2, 3, 4, 16 and Tech Zone 4, which are also known as Noida Extension for their proximity toNoida, 1BHKs are available for as low as Rs 13 lakh. Two and three bedroom apartmentsare available for Rs 16 to Rs 18 lakh.

The Noida Extension area is around 5km from the present developed areas of Noida. Itsconnectivity to the main Noida city is also good. This has given this area an edge over theother areas in Greater Noida.

But as demand has also picked up, it is expected that prices may witness some firmnesssoon. However, the supply will continue to be in plenty in the region as the authorities aredeveloping huge land tracts along the Yamuna Corridor and towards Bulandshahr and Dadri.But, as availability of housing units in the areas close to Noida will come under pressure,

prices here will start looking up. In Noida, a number of condominiums have been launchedfor both affordable and premium segment. On the expressway, Jaypee Group, in its WishTown, has launched a number of high-end products. The group has also launched a numberof projects around a full-size golf course.

However, end users need to be cautious while buying apartments in these projects. Thefounder CEO of PropEquity, Samir Jasuja, says that several developers will find it difficult toimplement their projects on time, and affirmed that delays would be inevitable. Therefore,while buying into any of these projects, buyers must also factor in these delays in theirplans.

To safeguard against delays, buyers should ensure that developers also pay some penaltyfor late deliveries. At present, many developers agree to pay Rs 5 per sqft per month aspenalty for the period of delay in completing the project. However, this can be negotiatedwhile buying into a project.

Over all, Noida, Greater Noida and Ghaziabad provide a good opportunity to end users tobuy their dream homes here.

QUICK BITES

WHEN THE REALTY MARKET WAS HIT BY THE GLOBAL SLOWDOWN IN 2008, PRIVATEDEVELOPERS LAUNCHED 95,474 HOUSING UNITS IN NOIDA ALONE, WHICH WILL BEDELIVERED BY 2014. AGAINST THIS, AT PRESENT, NOIDA HAS AROUND 99,000 UNITS OFURBAN HOUSEHOLDS WITH A POPULATION OF 6.5 LAKHTODAY, MAJOR CONSTRUCTION IS TAKING PLACE IN GREATER NOIDA, PARTICULARLY INSECTORS 1, 2, 3, 4 AND SECTOR 16, WITH A NUMBER OF BUILDERS DEVELOPINGTOWNSHIPS. ACCORDING TO ONE ESTIMATE, NEARLY 1.50 LAKH HOUSING UNITS AREPLANNED TO BE BUILT IN THESE SECTORS IN THE NEXT THREE TO FIVE YEARS


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NOIDA: INFRASTRUCTURE IMPROVES

Noida has become one of the focal points of realty developmentin the Delhi NCR. Today, it has come a long way from its imageof the 1990s of being a distant and dusty suburb of Delhi. A KTIWARY reports

From being a distant town in the Delhi NCR that people avoided to a most sought after destination,Noida has come a long way. The Metro rail connectivity further enhanced its image and today, Noidais well connected to Delhi.

Rama Raman, CEO of GNIDA, says: "The effect of the Metro was evident when big developers likeDLF and Unitech entered the Noida market and launched projects in Sectors 59 and 62, which areconsidered the IT sectors of Noida."

"The infrastructure in Noida is better in terms of roads, water, sewerage, electricity, parks, etc,when compared to other NCR towns. Noida has far superior connectivity than Gurgaon because of the DND flyway, which enables one to reach Noida in just 5-10 minutes from South Delhi, while ittakes 40-45 minutes to reach Gurgaon from South Delhi," says J B Karamchandani, senior architectand vice-president of the Jindal Group.

Sudhir Kumar, additional CEO of the Grater Noida authority, says: "More than 65% of the area of Greater Noida comes under green cover, making its environment relatively clean, and it is the firstchoice of those who want to live in an ecofriendly area. Also, an emerging sub-city is beingdeveloped. Even the industries causing pollution are prohibited here. For industries allowed here, theauthority not only ensures the speedy clearance and approvals but also accords incentives topromote early commissioning of projects, due to which the city has become a favourite choice of thedomestic and the MNC investors."

Commercial activities in Noida

When it comes to commercial activities in Noida, only one place comes to mind - Noida's Sector 18.The youth awaits the weekends to flock to this place as it is one of the most vibrant and happeningplaces in the NCR. This place caters to all the needs of people, from shopping to food toentertainment. That is a reason why places like Centrestage Mall and Great India Place mall get theattention that is almost unrivalled in the NCR. Developers also realize the potential of the place andare still interested in investing here. The 37-floor Wave One, an integrated complex on a 16,950sqmetre plot and having retail, offices and cinemas, is coming up here; it is surrounded byCentrestage Mall and Radisson. R K Jain, executive director of Wave City, says: "In the recent past,Noida's Sector 18 has seen frenetic developments, which has made it a hotspot of commercialactivity. Some of the malls built here have changed the people's shopping habits and now, they

spend their weekends at the entertainment parks. The roads have been re-laid and the traffic hasbeen made signal-free. The whole look of this area is not a jot less than what we experienceabroad."

Then there is Wave 1st Silver Tower, located at the intersection of major access roads of Sector 18market. The total floor area offered by the project is nearly 2.3 lakh sqft, of which 1.25 lakh sqft willbe for offices and 74,000 sqft for retail. The tower will have 11 storeys and the project is nearingcompletion.

Express development


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NEW BYLAWS

To give great relaxation to end users, the Noida-Greater Noidaauthority has recently implemented new building bylaws. Underthe new bylaws, balconies and stairs will not be included in FAR (floor area ratio) and super area. A K TIWARY writes

In Noida and Greater Noida, the current property scenario, especially in housing segments, hasopened up with new bylaws in new locations for residential development. To give great relaxation tothe buyers, Noida-Greater Noida authority has recently implemented new building bylaws. Under newbylaws, balconies and stairs will not be included in FAR (floor area ratio) and super area.

Rama Raman, the CEO of Noida-Greater Noida authority, says: Under the new building bylaws,FRA has been increased from 2.75 to 3.00. It means now in one hectare 362 housing units can bebuilt as opposed to 330 units in one hectare earlier. There are 55 real estate companies which are invarious stages of construction of their projects in Noida and Greater Noida. Their floor areas are in therange of 900 sqft to 4,500 sqft, which includes all the facilities like bedrooms, dinning room, livingroom, kitchen and bathrooms. These facilities come under covered area. The stairs and balconies willcome under super area.

J B Karamchandani, president (architectural cell) at Jindal Steel & Power Ltd, says: Area of balconies and stairs is up to 30% of the total area of houses. Developers are making profits byincluding these things like designer apartment, wide stairs and balconies. While these facilities arealready a part of modern architecture.

Rama Raman, adds: The new building bylaws will have great impact in launching affordablehousing schemes. By increasing FRA, maximum housing units can be accommodated at a time. With

increasing FRA, the density of population will also increase rapidly. Three years ago, the populationdensity was 400, which has risen to 1600 today. Keeping in mind the increase in population density, the Noida authority is planning to improve

infrastructure and civic amenities in the whole area. With the coming of the new building bylaws,developers are also modifying the specifications of their existing projects and transferring the benefitto end users by making them more affordable. The measures adopted by developers to cut costs varyfrom reducing the areas of units, providing basic amenities, to using prefabricationtechniques for construction and by reducing floor height.

These newly launched affordable projects on NH 58 and Noida Extension witnessed tremendousactivity, and a few projects have reported significantly high absorption rates. The reduced price of these projects is exerting greater pressure on the projects under construction and also on completedprojects in the vicinity, which have seen some price rationalization in response to reduced pricing inthese new launched projects. Even then, developers are finding it difficult to liquidate their unsoldstock in projects under construction and also in the completed projects.

SanjivSrivastava, of the Assotech Group, says: We have also witnessed isolated cases wheredevelopers are converting a portion of their erstwhile planned luxury project into 'affordable' unitswith reduced amenities and specifications. The trend of cancellations in projects under construction,where the construction is delayed and the projects have failed to meet timelines continues thisquarter. A realistic office space supply of 52 million sqft was expected to be operational last year.With absorption rates falling across cities, developers would find it increasingly difficult to lease outspace and vacancies would rise above 20%. A total of 172.9 million sqft of commercial space hasbeen projected to see completion in the next 3-4 years, of which 26.3 million sqft earmarked for


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2011; but construction is yet to take off for this. RakeshYadav, the MD of Antriksh Group, says: Due to the slow take off of other projects, these

might get delayed or shelved. Hence, we expect a realistic supply of 146.6 million sqft to come up inthe next 11 quarters. Against this supply, we expect absorption of 105.9 million sqft of office space inthe next three years.

Although investors and occupiers have come back into the market in search of a right bargain,

transactions are slow due to uncertain pricing levels. Real estate market saw a slowdown inconstruction activity with projects in the advanced stage seeking pre-leasing before becomingoperational. Some projects had to commence at high vacancy levels because of the pre-commitmentsto tenants. The market which saw undersupply in a few years ago was suddenly flush with oversupplyin some of the precincts.

However, landlords resisted the change and held on to price levels. What followed was a period of stagnant rentals with reduced transactions. In the following quarter the market took a U-turn frombeing landlord-driven to being tenant-driven. Even some of the pre-commitments given by tenantscould not be executed due to severe business conditions.

P C Gupta, the deputy chief executive officer of Greater Noida authority, says: The most popularwere the BFSI (Banking, Financial Services and Insurance) and IT/ITeS sectors - the two mostprominent office space occupiers in the country. We had allotted a number of plots to IT/ITeS firms inTechzone and Knowledge Park 5. But, demand may be sluggish because BFSI sector has taken thehighest hit in the sub-prime crisis and IT spends for firms would not increase till western economiesstart looking up. Distress sales have been few and yield expectations of buyers have risen sharply.However, the request for proposals (RFPs) have been in the market for some time, indicating thatinterest is prevalent and transactions are near.

Increasing FRA: 2.75 to 3.00

Number of Real Estate Companies in Noida-Greater Noida: 55

With new bylaws

363 housing units in the area of one hectare

Earlier

3.30 housing units in area of one hectare 11% increase in current FRA

QUICK BITES

UNDER THE NEW BUILDING BYLAWS, FRA HAS BEEN INCREASED FROM 2.75 TO 3. ITMEANS, NOW, IN ONE HECTARE 362 HOUSING UNITS CAN BE BUILT AS OPPOSED TO 330UNITS IN ONE HECTARE EARLIER

THESE NEWLY LAUNCHED AFFORDABLE PROJECTS ON NH 58 AND NOIDA EXTENSIONWITNESSED TREMENDOUS ACTIVITY, AND A FEW PROJECTS HAVE REPORTEDSIGNIFICANTLY HIGH ABSORPTION RATES


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DRAFT PLAN FOR GREATER NOIDAEXTENSION

In order to extend the area of the twin cities of Noida andGreater Noida, a draft plan for Greater Noida Extension hasbeen prepared. With this, Greater Noida will have thelargest area in the NCR, says A K TIWARY

Keeping in view the rising demand for land, Greater Noida authority is all set to finalize adraft plan for the city. With this, the proposed area of Greater Noida Extension will havethree times the area as the first planned modern city of India, Chandigarh designed by theFrench architect Le Corbusier with an area of 114 sq km. The proposed Greater NoidaExtension will have an area of 58,000 hectare. The draft plan has been prepared by E F NRibeiro, former director of School of Planning and Architecture, New Delhi.

At present, Greater Noida covers an area of 36,000 hectare. With the proposed extension,the total area of Greater Noida will be 94,000 hectare.

According to a land bank report, Noida, which covers 23,000 hectare of land, is almostsaturated. Out of 23,000 hectare, 15,000 hectare have been planned for development and80% of this has already been completed.

Another option for growth for Noida-Greater Noida is the Yamuna authority, which is beingdeveloped over 50,000 hectare up to Jewar. Rama Raman, CEO of Greater Noida IndustrialDevelopment Authority (GNIDA), says that with a projected population of seven lakh up to2011 and 12 lakh up to 2021, Greater Noida city has been designed for planned growth to

ensure that supply will always exceed demand. As many as 25,000 plots have already beenallotted to various professionals and senior executives. There are now affordable homes inthe localities like Greater Noida sector 1, 2, 3, 4, 5, and 6, which are also known as NoidaExtension (Greater Noida Extension).

The city is being developed on 20,000 hectare with wide roads, underground cabling anddrainage system. Its infrastructural facilities are of international standards. Rama Ramanadds: Greater Noida Extension will be developed in two phases. In Phase 1, 124 villageshave been included. In the second phase, 169 villages will be included. There will be a totalof 293 villages in Greater Noida Extension. Greater Noida will be extended up to Hapud,Gulawati and Bulandshahar.

Undoubtedly, this city offers customers a lifestyle living in a prime suburbanneighbourhood that everyone dreams of - a home with large rooms amidst open spaces thatencompass lawns, gardens and a driveway; also, other basic civic infrastructure like 24x7power and water supply are also available here.

Now, all this is within the reach of residents of Delhi who may want to shift here -commuting has become easy to and from Delhi via the DND Flyway and a sixlaneexpressway.

R K Arora, MD of SupertechGroup, says: "Today, Greater Noida is seeing a lot of development and investment potential. It has become a cliche to say that now real estatesector is all about the NCR region. High prices and non-availability of space in Delhi haveseen developers pushing their projects in the NCR region, which are now flooded with malls,multiplexes and townships. Good connectivity with Delhi and an increased demand for


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housing caused rapid expansion of population in the NCR. Following in the wake of developers, people flocked to places like Noida, Greater Noida, Ghaziabad, Gurgaon andFaridabad in search of good housing options. Realty sector is abuzz in other places likeSonipat, Baghpat, Bhiwadi, Manesar, Dharuhera, and Meerut as well. All these regions give abuyer an ample scope to choose the region of his/her convenience."

J B Karamchandani, president (architectural cell) of Jindal Group, says that one of the best

choices to have come up in the NCR is Noida. This sub-city is also catching up on the lifestylefactor as the authority has planned for an overall development of the city with focus ontraffic, flyovers, Metro link, parks, widening of roads, etc. The Noida authority has startedwidening the expressway roads, constructing bridges and flyovers, besides widening severalinternal as well peripheral roads.

In Greater Noida's Sectors 1, 2, 3 and 4 (Noida Extension), the authority has already soldmore than 3,000 residential plots. In addition, 600 acres of land has been allotted to 12builders. In another phase, 800 acres of land will be allotted among 18 builders. Noida'ssectors like 77, 76 and 78 all near the Greater Noida Extension are being developedfast. Antriksh, Kanball, Prateek, Amrapali, AVS, Mahagun, Supertech, Nimbus, Skytech, etc,are all are coming up with mega housing project here. Many developers are coming up withprojects on this stretch to meet the burgeoning demand of the middle class.

And, because of good connectivity and affordable rates, projects here are selling at a rapidpace. Parsvnath, Landcraft, SVP Builders, Shreya Group, Ashiana, KLJ, and KDPInfrastructure are some of the developers present here. Eastern Peripheral Expressway willbe close to this area. What sets Noida apart from other places is the availability of basicinfrastructure in the vicinity.

The adjoining areas of sub-cities like Kaushambi, Vaishali, Indirapuram and others are alsowitnessing tremendous growth in the residential property market.

Greater Noida is hailed as a hot seat of real estate in the NCR. It is just half an hour drivefrom Delhi via the DND flyway and six-lane expressway from Noida. Various educationalinstitutes, hospitals, clubs, the Jaypee golf course, wide roads, lush greenery and huge openspace add to the demand of this place. Plots and apartments in many sectors are alsoavailable in the secondary market.

QUICK BITES

GREATER NOIDA COVERS AN AREA OF 36,000 HECTARE. WITH THE PROPOSED EXTENSION,THE TOTAL AREA OF GREATER NOIDA WILL BE 94,000 HECTARE. ACCORDING TO A LANDBANK REPORT, NOIDA, WHICH COVERS 23,000 HECTARE OF LAND, IS ALMOST SATURATEDTHE PROPOSED GREATER NOIDA EXTENSION WILL HAVE AN AREA OF 58,000 HECTARE.THE DRAFT PLAN HAS BEEN PREPARED BY E F N RIBEIRO, FORMER DIRECTOR OF SCHOOLOF PLANNING AND ARCHITECTURE, NEW DELHI


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HOUSING BONANZA IN GREATER NOIDAEXTENSION

Greater Noida Extension is all set to develop into a megahousing zone, says PUNITA TIWARY

Greater Noida authority is offering a lot of housing options in Greater Noida Extension'sSector 1, 2, 3 and 4, even as demand for highrise housing goes up. This is also a reasonwhy developers and builders are coming up with their mega housing projects here.

Greater Noida's sectors like 77, 76 and 78, near the Greater Noida Extension, are beingdeveloped fast. Here, prices are competitive, compared to other sectors. Antriksh, Kanball,Prateek, Amrapali, AVS, Mahagun, Supertech, Nimbus, Skytech have all been allotted plotsfor mega housing projects here.

Paramount Group, a leading real estate developer, launched another project, Floraville, anenergy efficient project, here. This residential project is located at Sector 137 along theexpressway in Noida. Spread over an area of 12 acres, the project will comprise 2, 2+study,3 and 3+study BHK apartments. Floraville has some of the most spacious apartments onthe expressway; there are thousand units surrounded by greenery on all sides.

The project will have an inbuilt facility of controlling almost every electronic appliance inyour home using a remote. Some of the exceptional features in the project include a solar-based street lighting, which will make it an energy-efficient project; security andsurveillance in the entire society, Wi-Fi Connectivity, fire alarm system, intercom, boombarriers, digital locking system for doors and wellventilated basement parking space.

The project will also provide inhabitants with facilities like a play school, a salon,swimming pools, indoor games, a club, spa with sauna, steam bath, a cafeteria, a shopping

centre, battery operated cars for visitors and a medicare facility.R K Arora, MD of SupertechLimited, says: "We have recently launched Cape Town, a newaffordable luxury housing project in Noida. This is a residential project, a perfectcombination of luxury, comfort and budget. Located in Sector 74, Noida, this residentialproject will be spread over an area of more than 50 acres. Strategically located, the projectwill have 2-, 3-and 4BHK options, with the floor space ranging from 890 sqft to 2,385 sqft;there are 7,000 units in all. The project will be constructed in two phases and is expected tobe completed in 30 months from the date of construction. The highlights of the project arean international-level club over 1 lakh sqft with facilities for health-related activities likemassage centre, ayurvedic therapy centre, yoga and meditation centre, etc, apart fromother features like water bodies, a wave garden, an amphitheatre, a slope garden, kids playarea, cafe shops, a sports centre with basketball, badminton, lawn tennis and squashcourts, a school and a medical facility.

Ashiana Homes Private Limited launched Villa Anandam recently, located on the Delhi-Meerut highway (N H 58). Villa Anandam offers an independent luxurious 4 bedroom duplexvilla along with modern amenities like a clubhouse, a swimming pool, a gymnasium, powerbackup and green lawns within the complex. The project has been constructed incollaboration with SVP Builders, and is spread over 12.5 acres. Each villa has a floor area of 1,810 sqft and is constructed on 140 sqyd plot. Some of the features of the project: a gatedresidential complex with a clubhouse that offers swimming pool, gymnasium, games room,TV room, party hall. The development has lush green manicured parks with play equipmentfor children.


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RakeshYadav, MD of AntrikshGroup, says: "This stretch promises a lot for anyone lookingfor an affordable house. We also have Kanball and Antriksh Golf View here. Several otherbuilders are developing projects on this stretch to meet the increasing demand of themiddle class."

The Noida authority has decided to change the outlook of a posh Noida sector, Sector 18,as demand mounts to tone up basic infrastructure. If the authorities have their way, the

market, which is well known as a shopping destination and commercial hub, will meetstandards of international complexes in terms of facilities like multi-level parking, sky walksand no-vehicle zones.

Rama Raman, CEO of Noida authority, says: "Efforts will also be made to ensure thatpedestrians do not face any problems. Designer lamp posts, benches, signage, uniformfacade and footpaths for pedestrians will also form a part of this facelift."

The authorities have roped in foreign companies to submit proposals and ideas for themakeover, along with involvement of officials from the authority.

Plans are also afoot to involve internationally renowned architects. Proposals are alsobeing sought from companies regarding multi-level parking and efforts are being made torefurbish the drainage system as well.

"Meeting the demands of international markets is not an easy task. First, the area shouldbe free from traffic and pollution. The surroundings should be clean and we must ensurethat people abide by the rules and regulations," an official from the authority said.

Officials believe that the development of infrastructure was not in sync with thecommercial growth of the market; therefore, the buildings would be re-designed in a waythat they are interconnected for pedestrians with footpaths. With authorities leaving nostone unturned for the facelift of the area, it remains to be seen if the market matchesglobal standards.

"Although it is one of the biggest markets having some of the best facilities, the ugly sideof the market has been ignored for long. Stray cattle, pollution, lack of parking space andencroachments have been a menace," says RajpalKaushik, a senior town planner in theNoida authority. The focus will be on relocating open transformers, fixing the colour andfacade of buildings, uniformity of signage and removal of unauthorized hoardings, Kaushikadded.

QUICK BITES

GREATER NOIDAS SECTORS LIKE 77, 76 AND 78, NEAR THE GREATER NOIDA EXTENSION,ARE BEING DEVELOPED FAST. HERE, PRICES ARE COMPETITIVE, COMPARED TO OTHERSECTORSTHE AUTHORITIES HAVE ROPED IN FOREIGN COMPANIES TO SUBMIT PROPOSALS ANDIDEAS FOR THE MAKEOVER, ALONG WITH INVOLVEMENT OF OFFICIALS FROM THEAUTHORITY. PLANS ARE ALSO AFOOT TO INVOLVE INTERNATIONALLY RENOWNEDARCHITECTS


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NCRS GRAND TROIKA ON A

DECONGESTION DRIVE

Noida-Greater Noida and Ghaziabad are on a majordecongestion drive and the urban development authoritiesare going all out to improve and buttress roadinfrastructure new Metro lines, too, will play a majorpart in this and boost the connectivity of this troika withDelhi and other cities of the NCR. A K TIWARY reports

Commuting from Delhi to Noida-Greater Noida and Ghaziabad will become easier in thenear future, as the authorities concerned have designed a major road network and also theMetro line connecting these areas. A 28km-long Noida-Greater Noida Metro line will becompleted by 2013 and in addition, six road networks are being finalized.

Rama Raman, CEO of Noida-Greater Noida authority, says: "In order to boost connectivitybetween the national capital and other NCR regions, we have planned to extend the existingDelhi-Noida Metro line. For this, a detailed project report (DPR) has already been approved.Now, we are approaching the financial institutions for viability gap funds and tax exemptionsto meet the requirement. To obtain clearances from the departments concerned, theauthority has appointed DMRC (Delhi Metro Rail Corporation) as a consultant. According to

the planned alignment, 19 Metro stations have been proposed in the 28km-long Noida andGreater Noida Metro link, which will cost around Rs 5,000 crore. Nearly 65,000 passengerswill commute daily (in peak hours) on the proposed Metro track. This Metro link will connectto Ghaziabad in the second phase of the plan."

Noida-Greater Noida authority has also made a proposal for a "chain of connectivity" tolink the twin cities to Delhi and other NCR towns like Ghaziabad, Gurgaon and Faridabadand this proposal has been already approved by the DMRC. In the chain of connectivity, theauthority has proposed two new Metro links which cover all major areas of Delhi and theNCR. Under this, for the new Metro link 1, the existing Metro terminal at Sector 32 (CityCentre) will be extended up to Sector 62 and further connect to Gajipur (Delhi). This newMetro link will cover Gajipur, Kalyanpuri, MayurVihar Phase 1, Sarai Kale Khan, Moolchand,AIIMS, and Bhikaji Kame Place. And through the new Metro link 2, Sector 18 will beextended up to NH 8. It will cover AIIMS, Okhla, Nehru Place, Malviya Nagar, andVasantKunj and further connect to Gurgaon and Faridabad via Central Secretariat andBadarpur.

When the dream comes true, Noida's Sector 32 (City Centre) Metro line will extend up toIndirapuram via Sector 62, which connects further to Vaishali Sector 4-Indirapuram Metroroute.

To improve the city-level infrastructure, the twin cities of Noida-Greater Noida andGhaziabad entered a new phase with intense planning and implementation of city-levelinfrastructure. The authorities have designed six major road network plans.

Under the major road networking plan, a 130-meter wide and 28km-long highway from


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Parthala to Jewar, a 105-meter wide and 23km-long highway from PariChowk to Hapud, a60-meter wide and 12km-long highway from Noor Nagar to LG Chowk and another 60-meter wide and 18km-long highway from Saini to KuriKheda will be constructed by 2013. Allthese will be linked to Noida-Greater Noida Extension, the existing expressway and to theproposed Eastern Peripheral. Like the Noida-Greater Noida authority, the GhaziabadDevelopment Authority (GDA) has also planned for major road infrastructure. Under this

head, 17 flyovers including three clovers have been proposed with some nearly completed.According to Narendra Kumar Chaudhary, VC of GDA, the city will benefit from the 6-8

lane expressway linking Delhi to Meerut, Hapud and Bulandshahr. These three expressways,as well as the Delhi Metro peripheric (on the lines of Paris peripheric), will be a part of thenew development in Ghaziabad. And, like Noida and Greater Noida authority, GDA'sproposal of an express-highway linking Meerut crossing to NH 24 will create integratedflyovers at all level crossings. In addition, the Delhi Metro service, the Northern Railwayproject (Integrated Railway-Bus Transport system) will make commuting easy betweenNoida, Ghaziabad and Delhi.

Proposed Metro stations in Greater Noida

City Centre (Sector 32), Sector 51, Sector 50, Sector 78, Sector 101, Sector 81, DadriRoad, Sector 83, Sector 137, Sector 143, Sector 147, Sector 144, Sector 153, Sector 149,Knowledge Park 2, Knowledge Park 2, PariChowk, Alpha1, Alpha2 and Boraki (DepotStation) Daily commuters: 65,000 (in peak hours)

Major road networking plan

130 meter wide and 28km-long: Parthala to Jewar

105 meter wide and 23km-long: PariChowk to Hapud

60 meter wide and 12km-long: Noor Nagar to LG chowk

60 meter wide and 18km-long: Saini to KuriKheda

Date of completion: 2013

QUICK BITES

NEARLY 65,000 PASSENGERS WILL COMMUTE DAILY (IN PEAK HOURS) ON THE PROPOSEDMETRO TRACK. THE PROPOSED METRO LINK WILL CONNECT TO GHAZIABAD IN THESECOND PHASE OF THE PLANNOIDAGREATER NOIDA AUTHORITY HAS ALSO MADE A PROPOSAL FOR A CHAIN OFCONNECTIVITY TO LINK THE TWIN CITIES TO DELHI AND OTHER NCR TOWNS LIKEGHAZIABAD, GURGAON AND FARIDABAD AND THIS PROPOSAL HAS BEEN ALREADYAPPROVED BY THE DMRC


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Documents

Noida News 12 feb 11