Noida: The development authorities of Noida and Greater Noida on Saturday joined hands with Delhi Metro Rail Corporation for two metro extensions from City Centre to Noida Sector 62 and Greater Noida and is likely to be completed by 2017.
A Memorandum of Understanding was signed between DMRC Managing Director Mangu Singh, Noida and Greater Noida authority chairman Rama Raman, and Secretary, Government of India, Shankar Agarwal at a function held on Saturday.
The Authority also gave two advance payment cheques to DMRC officials for carrying out the necessary work. The two sections where metro will be extended is from City Centre to Noida Sector 62 and City Centre to Greater Noida.
The City Centre to Sector 62 line is 6.675 kilometer long and will have six station.
The City Centre to Sector 62 line is 6.675 kilometer long and will have six station. The total project cost is Rs 1,816 crores. Proposed station locations are Sectors 34, 52, 59, 61, 62 and Electronic City (NH 24), an official release said.
This metro line will also be a boon for Indirapuram residents it is just across the NH 24. The City Centre to Greater Noida extension line is 29.7 kms long and will have 22 stations. Total cost of the project is estimated Rs 5,064 crores.
In July an MoU for Botanical Garden to Kalindi Kunj metro line was signed with a total project cost Rs 845 crore and is expected to be completed next year.
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NOIDA: A 50,000-seater cricket stadium will be built in Noida along the expressway in Sector 152, making it the third venue for international games in Delhi-NCR after the Ferozeshah Kotla and the Nahar Singh Stadium in Faridabad.
This new stadium, which the Noida Authority has planned as a venue for Test matches, ODIs and T20s, will be part of a sports city project. The stadium will also be bigger than the Kotla, which has a capacity of 42,000, and also the Faridabad stadium which can seat 25,000.
The Noida Authority on Wednesday invited developers to put together the unique concept on 125 acres of land. The sports city will include residential as well as entertainment and commercial space.According to officials, the reserve price for the project is likely to be fixed at around Rs 25,000 to Rs 30,000 per square metre. The scheme will open on June 8 and close on June 26. While pre-qualification bids will be finalized the same day, the date for financial bids will be announced a few days later.”The aim is to create a world-class cricket stadium-cum-sports facility in Noida,” said Rama Raman, chairman and CEO, Noida. The project is in keeping with Noida’s master plan 2031, a senior official said. “This project will go a long way in establishing sporting infrastructure and become a sports destination besides putting Noida on the global sports map,” Raman added.Another cricket stadium, being built by the Jaypee Group, is coming up in Greater Noida and is also likely to be offered as a venue for international cricket.The sports city proposed in Noida will also house a nine-hole golf course. “While 70% of the space will house the cricket stadium, other sports facilities and open areas, 2% of the remaining area will be reserved for commercial use and 26% for residential use,” said Manoj Rai, officer on special duty, Noida Authority. “Facilities will include multipurpose playfields, indoor multipurpose sports hall, a gymnasium, a hostel for sportspersons, a medical care facility, internal roads and green spaces,” he added.Last year, Noida finalized a Rs 2,300-crore, 300-acre sports city in Sector 150, which is being developed by the Lotus Green group.
NOIDA: There are people who always defend “dynamic” Gurgaon, and claim it’s the best city in NCR. And then there are others who swear by “planned-city” Noida. Now, finally, there’s a study that factors in various parameters to reach a more informed ranking.According to the ‘Residential Preference Survey 2015’ by real estate services and consultancy giant Colliers International, India, living in Noida is the best bet for people who like to lead a hassle-free and laidback life with enough amenities, even though many residents may have to travel long distances to Delhi or Gurgaon for the sake of their jobs.n the study, Gurgaon has predictably emerged as NCR’s office district. It is the swishest NCRcity and creates most employment, but also has the most expensive real estate.The research by Colliers on the basis of a Pestle study of comparative indices— based on political, economic, social, technological, environmental and legal parameters—includes five NCR cities of Gurgaon, Noida, Faridabad, Greater Noida and Ghaziabad. Colliers compiled its research with the help of field experts, as well as secondary sources like NUMBEO, Wikipedia, Google and other government databases.”Pestle is a strategic tool which gauges macro environmental factors. Accordingly, we ranked cities on parameters such as political, economic, social, technological, environmental and legal, which impact a person’s decision making on which city to live in. The research shows some interesting pointers,” Surabhi Arora, associate director (research) at Colliers International, India, told TOI.It appears from the study that when people choose a city to live in or invest in property, political stability is one of the most important deciding factors. “To determine political stability, we have taken qualitative indices of crime in the cities over the past six months.It revealed Faridabad as the most stable across a combination of factors, with Ghaziabad the least stable. Gurgaon, Noida and Greater Noida are all at par,” Arora said. However, Ghaziabad is the most crime-prone with 79.30 points according to the survey. Noida and Greater Noida are both at 57.79 points.In economic indices, Gurgaon, at 160.27 points, is the most expensive NCR city to live in, while Noida stands at 93.94 points. “This shows that for the same basket of goods — a qualitative combination of rent, grocery, restaurants, etc — you spend a low of Rs 93.94 in Noida, but a high of Rs 160.27 in Gurgaon,” Arora said.In social indices, Gurgaon scored the highest in healthcare facilities at 78.17 points, based on secondary sources. “Although professionals choose to live in Gurgaon because most corporate offices are located there, in the long term, and in terms of lifestyle quality, Noida is so far the best bet in NCR,” Arora said.So, you can safely live in Noida and work in Gurgaon, and get the best of both worlds.
They noted that children and fetuses can be adversely affected by lead at even lower levels.
Noida has emerged as a major destination for home buyers over the last few years. Noida and Greater Noida, along with Yamuna Expressway and Noida Extension, provide affordable alternatives to middle class buyers in the national capital region. Average home prices in these regions are significantly lower than in Gurgaon, which is associated with high-end apartments.
Here are 5 tips as you go house-hunting in Noida:
- Plot versus apartment: You can buy a plot for the price of an apartment along the Yamuna Expressway, which connects Greater Noida with Agra. The world class expressway provides easy access from Delhi. However, don’t expect immediate capital appreciation because there is an oversupply of plots in this area. Plots near the F1 track or in the integrated townships coming along the expressway are better options.
- Choosing a developer: Projects being developed by an unknown builder, or a first time builder, are prone to execution delays. They will be comparatively cheap, but may remain grounded forever. Samir Jasuja, chief executive officer of PropEquity says buyers should always pay a little premium but go with a reputed or branded developer who will ensure the execution of the project even though it may still get delayed.
- Project specification: Small may not always be beautiful. As buildings go taller, large open spaces become a necessity. Look for a project that is adjoining a public park, or has bigger common areas. There will be a small premium between a 25-acre and a 50-acre project to start with, but with time projects with better amenities command a bigger premium.
- Absorption: Some areas like the Yamuna Expressway and Noida Extension have large inventories and absorption could continue to slow down. Homes in areas with low absorption rate are less costly, but are suitable only for long term investors, who have a time frame of at least 5-10 years. You should invest in such properties only if you are an end user with no plans to dispose the property.
Geographical factors: Noida and Great Noida have high water table unlike Gurgaon where ground water is not available. Noida has better accessibility to Delhi as compared to Gurgaon, which relies only on the Jaipur Highway. However, both Noida and Gurgaon fall in seismic zone 4, where the risk of earthquakes is pretty high.
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Demand for residential units in all parts of the National Capital Region (NCR) has shown a positive trend. The strong demand for residential units has led to a rise in prices in almost all the micro markets in the NCR.
Demand for residential real estate in Noida and Greater Noida markets has also picked up substantially in the last two years. This led to a rise in supply of residential units in various price bands ranging from Rs 2,000 per sq feet to Rs 8,000 per sq feet in the market.
However, the region also saw a temporary hiccup in the supply side after the Allahabad high court decided to cancel the acquisition of land from farmers in the Noida Extension area by the Greater Noida authority. But, issues are likely to be settled as the farmers have accepted the increased compensation. It is expected that construction in the region will start soon.
The most encouraging thing is the development by the Noida and Greater Noida authority of good infrastructure like a network of roads and the Metro link to connect the region with the central part of Delhi.
The Metro and road network had already improved after New Delhi hosted the Commonwealth Games in 2010. The decision to build the Games Village in East Delhi, in particular, led to considerable improvement in the road and Metro network in Noida and East Delhi.
The good thing is that the authorities have not left things to drift after that, and took proactive measures to improve connectivity of the area to other parts of the NCR further. Even today, the farthest point in Noida is not more than 40 minutes by road from Connaught Place. The city is also connected by the Delhi Metro rail to Connaught Place and the central secretariat, with the commute time being only about 30 minutes.
The authorities of these twin cities have now decided to extend the Metro further to Greater Noida and construct more Metro lines to create new alignments, so that residents of these places will not have to travel much to catch a train. On top of this, the Metro connectivity will now be extended to Noida Extension also, which is a part of Greater Noida. This will also be beneficial to another township, Crossings Republik.
With the various alignments of the Metro, connectivity to areas like Sectors 50, 51, 71, 74, 78, 81, 137, 143, 144, 147, 149, 150, and 153 in Noida will improve substantially. The proposed alignment will also improve the connectivity to Pari Chowk, Sectors Alpha 1, Alpha 2 and other parts of Greater Noida.
The best part of this is that apartments in Noida and Greater Noida, and Noida Extension in particular, are in the affordable range for the average middle-income group, despite the fact that prices have risen substantially in Sectors 74, 78, 143, and 147 in the last one year.
Despite rise in prices, one can buy a two-bedroom apartment for around Rs 30 lakh in Noida. In fact, some developers are selling smaller units for as little as Rs 27 lakh. With fresh launch of projects in Noida Extension, the availability of affordable apartments will further improve.
Around 2,00,000 apartments are likely to be built in Noida Extension area in the next five years. In 2010, when most of the housing projects were launched in the area, it was one of the most attractive destinations for buying affordable houses. Developers were selling two-bedroom apartments for Rs 16-22 lakh. A three-bedroom apartment was available for as low as Rs 24 lakh. At these prices, one could not have bought a similar apartment even in B-grade cities. But as the region went through a difficult time in the last 15-20 months, prices are likely to go up. However, developers have not disclosed the new prices; sources say they will be in the range of Rs 2,700-3,200 per sq feet.
As the distance from this area to Connaught Place is only around 18km and commuting time is around 35 minutes by car, the area is suitable for middle-class families. With the entry of the Metro line into the area, accessibility of the area will improve further.
Noida and Greater Noida are having a flurry of developments in the other sectors as well with around a dozen projects being implemented in Sectors 74, 75, 76, 77 and 78. According to one estimate, a total of around 20,000 apartments are being built in these sectors.
Besides these sectors, a large number of projects are being developed on Noida-Greater Noida Expressway. Around 1,25,000 apartments will be constructed on both sides of the expressway. At present around 30,000 apartments are up for sale by various developers here.
A number of premium projects like Unitech’s Golf Home, Jaypee’s Boomerang Residency, Krescent, Orchards and Golden Isles, among others, are available. The area will also be the site for the highest proposed building so far in the NCR — Supernova — by Supertech. A clean approach from central and South Delhi increases the attraction of this region.
Besides excellent road connectivity, the region also gets ample groundwater and a steady supply of Ganga water. The infrastructure in the region is being developed by the Noida and Greater Noida authorities, which are government bodies. Therefore, there is no compromise in quality and size.
Besides physical infrastructure, the area has good social infrastructure like schools, hospitals and shopping malls. The only area where Noida and Greater Noida lag behind Gurgaon is the number of operating commercial establishments. Because of this, both the suburbs lag immensely in creating jobs for their residents, forcing them to look for employment in other parts of the NCR.
But, large developers like Jaypee and Unitech, which have entered the Noida market in the last five years, have planned to build high-quality commercial space in Noida and Greater Noida. This might change the landscape of the suburbs by providing residents jobs at a walking distance ; also, it would lead to appreciation in the prices of residential real estate, which in turn would be a huge opportunity for investors.