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- Originally Posted by SanmukhWith a vision to provide state-of-the-art housing and commercial complexes in line with projected development and growth of civil society, Noida is all set to become next destination for foreign investments.
In the wake of sealing drive against the unauthorised commercial establishments in Delhi, Noida authority has sold out 304.5 acre plots worth Rs 2,557 crore to five reputed real estate companies for group housing. These plots are in various sectors like 112, 113, 115, 116, 117 and 118.
Unitech has been allotted two plots of 71 and 54 acre at the cost of Rs 1,050 crore. While Parsvnath Developers has paid Rs 602 crore for 72 acre, Omaxe has paid Rs 307 core for 37 acre, Ambience has paid Rs 323 crore for 37.5 acre and IVCRL has paid Rs 274 crore for 33 acre.
“The sealing of unauthorised properties in Delhi have increased the demand for office and commercial spaces; Noida authority is inviting MNCs and big corporate houses to expand their base in Noida,” says Rakesh Bahadur, chairman Noida Authority.
JB Kramchandani, vice-president (planning) Parsvnath Developers says, “The demand for commercial space and group housing in the suburbs had already triggered phenomenal growth in Noida. This is mainly due to the insufficient land availability in Delhi. Noida scores over Gurgaon and Faridabad in having better connectivity with Delhi, owing to the toll bridge and the expressway.”
“Future growth is in the suburbs,” says Rakesh Yadav of Antriksh Builders.Concurs Rohit Modi of the Ashiayana Developers saying that Noida will find a good market. Because things in its favour are its easy accessibility from Delhi and better social infrastructure compared to the rest of NCR.
As per the current real estate scenario in Noida, residential plots range from Rs 25,000 per sq m to Rs 50,000 per sq m in the newly developed sectors. The reserved price for group housing bid ranges from Rs 3,000 to Rs 4,000 per sq ft. While reserved bid price for commercial plots ranges from Rs 50,000 to Rs 75,000 per sq yrd.
In developed sectors like 14A, 15A and 17, the hike is from Rs 30,000-40 ,000 to Rs 70,000-1 ,00,000 per sq m. “After the completion of Taj Express Way, by 2013 rates will certainly move up,” hopes Sanjiv Saran, chief executive officer.
The ongoing realty price structure in Noida itself explains the increasing demand of residential houses in the city. People from various parts of Delhi are shifting to Noida as it offers quality life at an affordable price. It has come up as the best option for those who working in various parts of the NCR. An eight lane expressway connects it directly to Delhi while reducing travel time to 20-30 minutes. That is in addition to the eight lane DND flyway, which has already reduced distances.
Words from Senior citizen. We should read this.:bab (45):CommentQuote0Flag
- 2007 news, why posted in 2011CommentQuote0Flag