Board irons out development bottlenecks
Jan 12, 2013, 01.41AM IST TNN

NOIDA: Several development projects were approved in the joint board meeting of the Noida, Greater Noida and Yamuna Expressway authorities on Friday. Even though the main focus remained on boosting connectivity and developing industrial clusters, the authorities even attempted to pacify agitating farmers by amending provisions related to land acquisition.

Noida Authority CEO Sanjeev Saran said rapid population growth has led to an urgent need to improve the transportation system. An additional 170 buses, including 20 semi low-floor buses and 50 feeder vehicles, will be started at the cost of Rs 40.5 crore. "The Authority will develop the city bus terminal in Sector 82 on 3.9 hectare with world-class infrastructure," he said.

Concerned over rampant accidents on Noida-Greater Noida Expressway, an Rs 15 crore Intelligent Transport System (ITS) will be installed to monitor and manage traffic flow.

To counter farmers' agitation, the board passed several amendments in the provisions to sort out abadi regularization, disbursement of developed land, enhanced compensation and inherited and non-inherited property issues.

"The land in Gautam Budh Nagar district was acquired in three phase in 1976, 1979 and 1997. Earlier, those farmers whose land was acquired in 1976 were eligible to get 5% abadi land, while those whose land was acquired between 1979 and 1997 were kept out of pool. The board has approved to grant abadi land to these farmers too," said Rajesh Prakash, administrative officer, Noida Authority.

"The minimum size of developed plots to be given to farmers whose land was acquired will be 40sq.mtr. The 5% developed plots will also be given to those farmers who were found eligible for plots below 40sq.mtr," Prakash added.

Around Rs 650 crore has already been disbursed towards enhanced compensation to farmers and the board has approved another Rs 450 crore. For village development work, the engineering department will not need approval from the land records department now.

The number of highrises in the city is expected to increase in the next two years, so there is a need of updated fire safety infrastructure. "The Authority will buy 72m hydraulic machines in case of fires in highrises," Saran said. A 1MW solar power plant will be developed on a 5 acre plot over the Sector 135-152 irrigation drain mainly for streetlights.

NOIDA: Several development projects were approved in the joint board meeting of the Noida, Greater Noida and Yamuna Expressway authorities on Friday. Even though the main focus remained on boosting connectivity and developing industrial clusters, the authorities even attempted to pacify agitating farmers by amending provisions related to land acquisition.

Noida Authority CEO Sanjeev Saran said rapid population growth has led to an urgent need to improve the transportation system. An additional 170 buses, including 20 semi low-floor buses and 50 feeder vehicles, will be started at the cost of Rs 40.5 crore. "The Authority will develop the city bus terminal in Sector 82 on 3.9 hectare with world-class infrastructure," he said.

Concerned over rampant accidents on Noida-Greater Noida Expressway, an Rs 15 crore Intelligent Transport System (ITS) will be installed to monitor and manage traffic flow.

To counter farmers' agitation, the board passed several amendments in the provisions to sort out abadi regularization, disbursement of developed land, enhanced compensation and inherited and non-inherited property issues.

"The land in Gautam Budh Nagar district was acquired in three phase in 1976, 1979 and 1997. Earlier, those farmers whose land was acquired in 1976 were eligible to get 5% abadi land, while those whose land was acquired between 1979 and 1997 were kept out of pool. The board has approved to grant abadi land to these farmers too," said Rajesh Prakash, administrative officer, Noida Authority.

"The minimum size of developed plots to be given to farmers whose land was acquired will be 40sq.mtr. The 5% developed plots will also be given to those farmers who were found eligible for plots below 40sq.mtr," Prakash added.

Around Rs 650 crore has already been disbursed towards enhanced compensation to farmers and the board has approved another Rs 450 crore. For village development work, the engineering department will not need approval from the land records department now.

The number of highrises in the city is expected to increase in the next two years, so there is a need of updated fire safety infrastructure. "The Authority will buy 72m hydraulic machines in case of fires in highrises," Saran said. A 1MW solar power plant will be developed on a 5 acre plot over the Sector 135-152 irrigation drain mainly for streetlights.
Read more
Reply
4392 Replies
Sort by :Filter by :
  • Originally Posted by rajesh_vsworx
    World class river in a third class city! Gurgaon. River of Sorrow.


    Gurgaon builders are charging river view PLC for this :bab (59):
    CommentQuote
  • Kya baat kar rahe ho yaar. This is south delhi extension - Millenium City

    Photoshopped - ho hi nahin sakta
    CommentQuote
  • http://realty.economictimes.indiatimes.com/news/industry/no-hike-in-circle-rates-for-flats-in-noida-greater-noida/48153423


    No hike in circle rates for flats in Noida, Greater Noida


    The decision has come as a huge relief for buyers of projects falling within the 10km radius of the Okhla Bird Sanctuary. However, housing plots and group housing plots in Noida are to get costlier by 5%.

    TNN | 21 July 2015, 7:59 AM IST


    NOIDA: There will be no increase in circle rates for flats in Noida and Greater Noida this year. The UP stamps and registration department on Monday announced fresh circle rates for Noida and Greater Noida, keeping in view the slump in the real estate sector. The new circles rates will come into effect from %August 1.

    The decision has come as a huge relief for buyers of projects falling within the 10km radius of the Okhla Bird Sanctuary. However, housing plots and group housing plots in Noida are to get costlier by 5%.

    Gautam Budh Nagar DM N P Singh, who has approved the circle rates, after a proposal for the same was tabled by the stamps and registration department, said the decision to keep the circle rates of flats intact has been taken keeping in view the concerns of homebuyers, affected by the Okhla Bird Sanctuary row.

    "The real estate sector is already in slump and there are thousands of people who could not buy flats because of high prices. So, we have decided not to hike circle rates in flats category. To encourage small entrepreneurs, we have also not hiked circle rates for industrial plots measuring less than 4,000 metres," Singh said.

    Homebuyers and developers have welcomed the decision.

    "We have been fighting to get relief on circle rates, as it would have put additional burden on us. We thank the UP government and Gautam Budh Nagar DM for considering our plea," said Amit Gupta, a homebuyer.

    "It is a welcome decision as the real estate sector is already reeling under a slump. We hope this decision will push flat sales in Noida," said RK Arora, CMD, Supertech Limited.
    CommentQuote
  • Originally Posted by dineshsays
    http://realty.economictimes.indiatimes.com/news/industry/no-hike-in-circle-rates-for-flats-in-noida-greater-noida/48153423


    No hike in circle rates for flats in Noida, Greater Noida


    The decision has come as a huge relief for buyers of projects falling within the 10km radius of the Okhla Bird Sanctuary. However, housing plots and group housing plots in Noida are to get costlier by 5%.

    TNN | 21 July 2015, 7:59 AM IST


    NOIDA: There will be no increase in circle rates for flats in Noida and Greater Noida this year. The UP stamps and registration department on Monday announced fresh circle rates for Noida and Greater Noida, keeping in view the slump in the real estate sector. The new circles rates will come into effect from %August 1.

    The decision has come as a huge relief for buyers of projects falling within the 10km radius of the Okhla Bird Sanctuary. However, housing plots and group housing plots in Noida are to get costlier by 5%.

    Gautam Budh Nagar DM N P Singh, who has approved the circle rates, after a proposal for the same was tabled by the stamps and registration department, said the decision to keep the circle rates of flats intact has been taken keeping in view the concerns of homebuyers, affected by the Okhla Bird Sanctuary row.

    "The real estate sector is already in slump and there are thousands of people who could not buy flats because of high prices. So, we have decided not to hike circle rates in flats category. To encourage small entrepreneurs, we have also not hiked circle rates for industrial plots measuring less than 4,000 metres," Singh said.

    Homebuyers and developers have welcomed the decision.

    "We have been fighting to get relief on circle rates, as it would have put additional burden on us. We thank the UP government and Gautam Budh Nagar DM for considering our plea," said Amit Gupta, a homebuyer.

    "It is a welcome decision as the real estate sector is already reeling under a slump. We hope this decision will push flat sales in Noida," said RK Arora, CMD, Supertech Limited.


    They are short of their own revenue targets.....the prices need to slump more
    CommentQuote
  • Noida finalizes firm for new cricket stadium

    Vandana Keelor,TNN | Jul 22, 2015, 04.53AM IST


    NOIDA: The Noida Authority has finalized the price bid for a cricket stadium-cum-sports city, a project that will be developed across 125 acres of land, with 35 acres reserved for the cricket stadium.

    The cricket stadium, which will have a seating capacity of 50,000, has been envisioned as a venue for Indian Premier League, national and international limited overs and Test matches. The sports city in Sector 152 will offer recreational as well as residential and commercial facilities.

    According to Authority officials, the successful bid was placed by the ATS group. "The highest price bid by the group was settled at Rs 26,650 per sq m," said an official. "The reserve price for the project, which was announced in June this year and received two bids in total, was Rs 26,200 per sq m," the official added.

    While the land cost of the project will be over Rs 1,340 crore, the stamp duty revenue it will generate for the state government will amount to Rs 80 crore. "The developer has to pay about Rs 67 crore as allotment money within 30 days," he said.

    Officials said that the project has been proposed as per the Building Regulations Act of Noida and its Master Plan-2031.

    The aim is to create a world-class cricket stadium-cum-sports facility in Noida. Currently both Noida and Greater Noida have cricket stadiums with a capacity of 20,000.

    "This project will go a long way in establishing sporting infrastructure and helping Noida become a global sports destination," said officials.

    The maximum permissible ground coverage of the entire land of about 125 acres will be 30% while a maximum permissible floor area ratio on the total land will be 2. While 70% of the space will house the cricket stadium, other sports facilities and open areas, 4% will be reserved for commercial use, and 26% for residential use.
    CommentQuote
  • Work on Sector 60 underpass, key Delhi link, begins

    Vandana Keelor,TNN | Jul 22, 2015, 04.50AM IST



    NOIDA: The Noida Authority has started construction of a 650-metre-long underpass near the Uflex intersection in Sector 60, in the first step towards providing signal-free connectivity to commuters between Delhi, Noida and Ghaziabad.

    To come at a cost of Rs 60 crore, the underpass will have three lanes on each carriageway and is expected to be completed by December 2016, officials said. This underpass will be constructed from the Sai temple in Sector 60-61 towards Model Town. The Sector 32-62 Metro link will run above it along the central verge.

    Officials said a traffic diversion due to the construction will be put in place from next week after consultation with the traffic police.

    "Once the diversion is in place, commuters travelling towards Sector 71 will have to turn left at Sector 60 and take a right turn from the next crossing. At the T-point, motorists will have to turn right towards Sector 71. Signboards will be installed to direct traffic and to avoid chaos," an Authority official said.

    Work on the second underpass on the route near Mamura crossing near Sector 66 is expected to start in two months. The detailed project report (DPR) for the 700m underpass has been cleared by IIT-Delhi and tenders will be initiated soon, officials said.

    Once the two underpasses are in place, commuting from Ashram in Delhi via the Delhi-Noida-Direct (DND) flyway, Atta underpass and towards Chijarsi linking to NH-24, will become smooth. Along this 15-km route, a 6.5-km elevated road from Sector 28 to Sector 61 near Uflex is already under construction.

    The Noida Authority has also finalized technical bids for a three-kilometre elevated road along Master Plan-I road from Rajnigandha crossing to the Sector 56 junction. The stretch will join sectors 10/21 and 12/22 and the T-point of Sector 56.
    CommentQuote
  • All who were crying hoarse about Noida infra please stand up and be counted.

    The infra is best amongst all Indian cities and that too is most cases planned in advance.
    CommentQuote
  • मेट्रो ट्रैक के साथ बनेगा अंडरपास
    Publish Date:Tue, 21 Jul 2015 09:04 PM (IST) | Updated Date:Tue, 21 Jul 2015 09:04 PM (IST)


    जागरण संवाददाता, नोएडा :
    सेक्टर-60-61 के चौराहे पर यातायात व्यवस्था को बेहतर करने के लिए अंडरपास का निर्माण किया जाएगा। इसके लिए कार्य शुरू कर दिया गया है। 18 माह में करीब 60 करोड़ रुपये की लागत से बनने वाला यह अंडरपास प्रस्तावित मेट्रो के ट्रेक के साथ बनाया जाएगा। अंडरपास से वाहन गुजरेंगे और इसके ऊपर मेट्रो का ट्रेक बनाया जाएगा।
    अट्टा अंडरपास से शाप्रिक्स मॉल के आगे तक बनाए जाने वाले ऐलीवेटेड रोड के जरिए वाहन चालकों को सेक्टर-60-61 के चौराहे पर न रुकना पड़े, इसके लिए यहां अंडरपास का निर्माण कार्य किया जाएगा। निर्माण कार्य शुरू करने के लिए बेरीकेड लगाने का कार्य पूरा किया जा चुका है। मिट्टी की जांच के बाद यहां निर्माण कार्य शुरू किया जाएगा। छह लेन के इस अंडरपास के डिवाइडर पर मेट्रो के पिलर खड़े किए जाएंगे। मेट्रो के पिलर के दोनों तरफ से वाहनों के निकलने की जगह होगी और ऊपर से मेट्रो का संचालन किया जाएगा। अंडरपास बनने के बाद सेक्टर-71 की तरफ से फिल्म सिटी के बीच आने-जाने वाले वाहन चालकों को कहीं भी रुकने की जरूरत नहीं पड़ेगी। सीधे जाने वाले वाहन चालक ऐलीवेटेड रोड का प्रयोग करेंगे। वहीं ऐलीवेटेड रोड के बनने के बाद चौराहों पर वाहनों का दबाव बढ़ेगा, ऐसे में चौराहे को सिग्नल फ्री करने में भी अंडरपास की योजना कारगर साबित होगी।
    CommentQuote
  • Noida to remain affordable

    NOIDA/GREATER NOIDA: The UP stamp and registry department on Tuesday released circle rates, sector and categorywise. There is a marginal hike in the residential sectors from four and five percent while commercial category registered upto 20 percent hike in circle rates.

    It means buying commercial property has become costly in Noida while there is a relief for home aspirants in Noida. After DM'Gautambudh Nagar district magistrate nod, the fresh rates to be implemented from August 1.

    Category D, which covers 63A, 86, 106, 109, 112, 113, 116, 117, 118 has registered 5.47 percent hike followed by category A with 5.23 percent. Posh sectors like 14, 14A, 15A, 17, 30, 35, 36, 39, 44, 50, 51, 52 falls in A category. The department has not hiked circle rates in E category. The intention behind it to increase population density. Sectors 66, 102, 115, 136, 141, 158, 162 are under E category.

    On Sector 18 and 38A has registered hike in circle rates this year. Circle rates in commercial property has been categorised based on the plot size. Upto 100 sq. meter and 100 to 1000 sq. meter plots circle rates increased 19.36 and 20 percent.

    Last year, circle rates were increased by the department despite opposition by city residents and homebuyers. At the same time the authorities had hiked property rates by up to 30%. Greater Noida Industrial Development Authority has announced a 10.21% hike in the allotment price across all categories of land in the city.

    The officials said that compared to all catagories, residential has more demand in Noida. There are over two lakh units are ready to be registered in Noida. The department also did not achieve desired results due to delay in declaring eco sensitive zone for Okhla bird sanctuary. "If the Eco sensitive zone is declared, the department will get around Rs 300 crore"

    The stamp and registry department officials said that there is slump in property sector. This slump was further hampering the annual target of the department. Keeping that in mind, there is marginal hike has been registered this year. According to UP stamp and registry department assistant inspector general SK Singh department's revenue target for Gautambudh Nagar district for the financial year 14-15 was Rs 1695 crore while for 15-16 target has been fixed Rs 1875 crore. "The department has achieved only Rs 300 crore however as per the target recovery should have been Rs 500 crore," Singh said.

    Brijesh Bhanote, Director (sales and marketing), Lotus Greens said, ''We welcome the Gautam Budh Nagar DM's decision to not revise the circle rates for apartments in Noida and Greater Noida. This brings immense relief to buyers who have not so far been able to get their properties registered for reasons beyond their control. This move from authority is poised to infuse positive sentiment in the market creating favorable condition for both home buyers and developers"









    Noida to remain affordable - The Times of India
    CommentQuote
  • Residents meet Delhi minister over DND

    NOIDA: A group of Noida residents have sought the scrapping of toll tax on the Delhi-Noida-Delhi (DND) Flyway. In a meeting with Delhi PWD minister Satyendar Jain on Wednesday, they also told him that another bridge should be built on this route.

    The minister told the Confederation of NCR Residents' Welfare Associations (CONRWA) members that there were plans to extend the Barapulla bridge over the Yamuna and connect it to Mayur Vihar in Delhi. The meeting was also attended by several Delhi government officials.

    During the meeting, CONRWA members complained that the concessionaire, Noida Toll Bridge Company Limited (NTBCL), was still charging them toll despite having earned more than double as profit. They also discussed the cost and expenditure of DND, CAG's audit report on NTBCL and agreement of the Delhi government with the central leasing agency regarding the flyway.

    The minister said all issues pertaining to the flyway have been given to a committee comprising officials of a Delhi government department and some members of CONRWA. "The committee has been told to submit its report within 10 days on all aspects of DND toll," said Jain.

    Meanwhile, N P Singh, president of Federation of Noida Residents Welfare Associations (FONRWA), said the Allahabad high court held a hearing on DND on Wednesday, which is set to continue on Thursday. "We are expecting a positive reply within a couple of days from the high court," said Singh.









    Residents meet Delhi minister over DND - The Times of India
    CommentQuote
  • New declog plan for Noida crossing

    NOIDA: In an attempt to streamline traffic movement and de-congest the busy crossing linking sectors 71, 72 with sectors 51, 52, the Noida Authority has amended the design for a proposed multi-infrastructure project along the Master Plan-III Road after a meeting with the Delhi Metro Rail Corporation (DMRC).

    Earlier, the project was a three-tier one comprising an underpass, an elevated road and a Metro track. The design has now been changed to a rotary similar to the ones in Lutyens' Delhi, an underpass and two Metro lines. The decision follows a site visit by officials of the DMRC, Noida and RITES.

    Once in place, the underpass and on-surface rotary will streamline traffic movement along the busy Master Plan-III road and will also ensure signal-free movement towards Greater Noida West (Noida Extension), Delhi, NH-24 and Ghaziabad.

    According to Noida Authority officials, earlier the crossing of sectors 71, 72 and 51, 52 was to support a three-tier project including an underpass, elevated road and Metro track. "However, in an effort to provide traffic integration and seamless transfers to Metro commuters, the design has been changed," said Rajesh Prakash, additional CEO, Noida.

    "After studying the area, it has been decided that the crossing will now host a rotary similar to the ones in Lutyens' Delhi, an underpass and two Metro lines," Prakash said.

    Prakash said that now the plan for an elevated road, which was proposed to connect sectors 51, 52 with Sectors 71, 72 has been revised. "This facility will not be constructed as building a Metro line at 18 metres above the elevated road was not feasible. The Metro track will now be constructed at 12 metres," he said.

    "Also, the underpass will now be constructed to connect sectors 51, 52 with 71, 72 instead of the earlier plan where it was to connect sectors 52 and 71 and Sector 51 with 72," the ACEO said.

    With Sector 71 as the originating station for the 28.8-km Noida-Greater Noida Metro track and a multi-level parking facility-cum-shopping complex proposed in the vicinity, the area is expected to witness heavy vehicular density as well as pedestrian population. Officials said that two Metro tracks � City Centre to Sector 62 and Sector 71 to Greater Noida � will run in two different directions at the crossing.

    "The amended design will provide a concourse match for the two proposed stations in the vicinity of the crossing of the two Metro corridors. This will ensure seamless transfers for the Metro commuters via an elevated foot overbridge or travellator," Prakash said.

    "Once we receive a no objection certificate from the DMRC, the design and estimates will be sent to IIT-Delhi for vetting before implementation," he said.











    New declog plan for Noida crossing - The Times of India
    CommentQuote
  • Housing sales dip in Noida

    Noida property market witnessed new sales of only about 3,800 homes during the April-June period, lowest in the last eight years, due to dip in demand from investors, according to a report by Bank of America-Merill Lynch.

    “The housing market in Noida continues to remain difficult — absorption rate lower than 2009 levels, new supply/launches halved compared to period (calendar year 2008-13) and pressure on pricing,” BofA-ML, an American brokerage firm, said in a research report.

    The second quarter of calendar year 2015 witnessed “new sales of about 3,800 units which is lowest in the last eight years”, it added.

    “Absorption rate at 3.7 per cent is the lowest in last eight years as investors who held the housing market in the past seemed to have deserted the market given poor visibility on timely delivery, price appreciation and exits,” said the report.

    It also expressed concern over the unsold inventories in the Noida property market.
    “Although we believe unsold inventory has peaked at about 1 lakh units, the same equates to 16 quarters at current sales velocity; again highest in last 8 years... 4-year inventory is worrisome...,” the report said.

    It attributed the “slow growth in employment generation and perceived poor state governance” as the key reasons for poor absorption and high unsold inventory in Noida.
    On the Gurgaon market, the report mentioned that during the last six quarters, launches have been twice as much in even quarters as compared to odd quarters.

    The report said that the demand in Gurgaon is primarily limited to ready-to-move-in supply and new launches (stretched payment terms).

    “About 40 per cent of the total sales in 2QCY15 were contributed by new launches alone,” it said.

    Gurgaon’'s unsold inventory has seen an exponential rise over last 2.5 years indicating significant slowdown in sales.

    “We foresee weakness to stay through calendar year 2015 before possible recovery in calendar year 2016,” the report said.

    To improve sales and cash flow, the brokerage said that there is a need for notable rise in new launches with freebies and discount schemes as well as reduction in investor inventory in secondary market. — PTI











    Housing sales dip in Noida
    CommentQuote
  • Schools, nursing homes in Noida told to display lease deeds

    NOIDA: Schools and nursing homes in Noida, which have got plots from the Noida Authority at concessional rates, have been asked to display the conditions of their lease deeds at prominent locations on their premises. The institutes have been directed to place two boards, measuring 10x15 inches, on their premises by August 7 or face action.

    The move follows a meeting of Noida Authority officials on Saturday. Deputy CEO Soumaya Srivastava, chief project engineer, chief maintenance engineer, project engineers and tehsildar, who were also present at the meeting, have been asked to submit a report in the matter by August 3.

    According to officials, the clause in the lease deeds signed by the nursing homes and schools, binds them to reserve a certain number of beds or seats for the economically weaker section. The schools and nursing homes are also required to offer certain services to the general public. "However, we have found many institutes to be flouting the conditions of the lease deeds," said Noida Authority's additional CEO Rajesh Prakash.

    He added it was the duty of the Authority to ensurein Noida that the land, allotted at nominal rates, was used for the right purposes. "Hence, we have decided to take this step to rein in the allottees," he added.

    It was also decided to remove encroachments along the Sector 37 road near Botanical Garden. A cleanliness drive at villages and sectors will also be launched. Direction for implementation of the NGT orders was issued. Directions were issued to levy fine of Rs 5,000 to 15,000 for plastic and garbage burning.









    Schools, nursing homes in Noida told to display lease deeds - The Times of India
    CommentQuote
  • YEIDA to launch two affordable plot schemes
    Vandana Keelor, TNN | Jul 15, 2015, 05.39AM IST

    i
    GREATER NOIDA: Yamuna Expressway Industrial Development Authority (YEIDA) is getting ready to launch two affordable plot schemes - residential and industrial - by the end of this month. The Authority is also planning to allot land to develop an apparel cluster on the Yamuna expressway across 200 acres of land.

    According to officials, the two new schemes are being readied for prospective entrepreneurs, homebuyers and investors with an aim of aiding development in the YEIDA area. "On offer are plots available for setting up industry and residential homes," said Santosh Yadav, CEO, YEIDA. "There are more than 800 small plots, which will be available for individual homes, while industry plots on offer will number about 320," he told TOI.
    CommentQuote
  • Gurgaon best bet for office, Noida loses out: Report

    NOIDA: Noida has few takers for office space, despite being more affordable than Gurgaon. This inference can be drawn from a recent study by an international real estate research group. Experts attribute it to a lack of support infrastructure for businesses in this city.

    According to the report by Colliers International, the office market in Noida witnessed 0.5 million sq ft of space absorption only till the second quarter of 2015, with expansion and relocation being the primary demand drivers - all thanks to big players like Big Basket, Cognizant and We Technologies.

    However, in Gurgaon, approximately 1.8 million sq ft of office space was absorbed just in the second quarter of 2015, about 60% more than the previous quarter, says Colliers.

    The report further states that there could actually be no demand for office spaces in Noida and the trend could continue to exist for the next few quarters. This indicates that it could be a good bargaining time for those IT and ITeS tenants to seek discounts while striking fresh lease deeds.

    "Despite the slump, some big projects have recently been completed in Noida like the NPX Tower by Urbatech in Sector 153; Elixr Tower by Cosmic Group in Sector 127; an independent building in Sector 16A. But no new project has been launched," Surabhi Arora, associate director (research) at Colliers International India, told TOI on Tuesday.

    According to experts, Noida's disadvantage as a corporate location springs from its lack of infrastructure. Gurgaon scores over Noida when it comes to proximity to an airport, law and order situation, power scenario and accessibility, they say. While the proposal to build an international airport at Jewar was shelved

    recently, Gurgaon's proximity to IGI International Airport, barely 20km away, gives the city an edge over Noida.

    "Oversupply of office spaces may be the reason due to which the rent and purchase price have gone down in recent times in Noida and Greater Noida. One disadvantage Noida has is unavailability of an international airport. Availability of an airport, good connectivity and lower rent than Delhi and Gurgaon can help recover value for the office space market in Noida in future," Deepak Kapoor, president of Credai (western UP), said.

    "Business is about saving time, and increasing productivity. With the airport so far away, Noida has been suffering a distinctive disadvantage. There are traffic jams, distances are huge. Why would anyone come here? People do not mind paying extra rent and leasing out in Gurgaon because it works for the IT ad ITeS companies. The future of IT driven business looks bleak in Noida until major infrastructure development takes place here, like the Jewar airport," Vipin Malhan, president of Noida Entrepreneurs Association, said.

    According to Amit Modi, director ABA Corp and vice-president of Credai (western UP), Gurgaon takes up the major chunk of corporate office space demand the NCR because of its location and proximity to the airport. "Noida, with its affordability advantage may see a renewed interest from mid-size players from IT/ITeS sector which also happens to be the largest occupier of office space in the NCR, followed by the e-commerce segment and manufacturing sector," he added.

    However, Colliers says the proposed six-lane elevated flyover signal-free drive from Sector 41 to SEZ Phase II could bring about a change in the situation. "There is a lack of demand in Noida's office spaces. One of the major reasons is the distance factor. The Noida Authority has plans for a six-lane elevated flyover signal-free drive from Sector 41 to SEZ Phase II, which will be ready by 2017. This could make a difference in the flow of companies into the city," Arora said.












    Gurgaon best bet for office, Noida loses out: Report - The Times of India
    CommentQuote