Tuesday, 19 March 2013

Greater Noida becomes one of the fastest developing sub-cities


Greater Noida is on the fast track of progress. With abundant availability of lease space, low pricing, improving infrastructure and fast connectivity, realty players are already coming back with assured-return projects.
Considering the forthcoming worldclass infrastructural projects in the vicinity like the DMIC (Delhi-Mumbai Industrial Corridor), Night Safari, Gautam Buddha University, etc., Greater Noida is now home to a number of blue-chip Indian firms and MNCs.
The residential and commercial policies of the Greater Noida Industrial Development Authority (GNIDA) have led to remarkable development of infrastructure in this area. This, coupled with other top-notch infrastructural facilities, has prompted realty watchers to peg it very high among the real estate destinations in the NCR.
Greater Noida has today become one of the fastest developing sub-cities in the NCR and is an attractive destination for commercial and residential real estate. As the city is close to central Delhi and Noida, it provides a good residential solution to working people. Besides, as a number of corporate houses have chalked out plans to start offices here, it will provide good employment opportunities to residents.
Infrastructure
To meet the basic needs of the residents, the GNIDA is planning to set up its own power plant to provide 24-hour power supply. A 315MW power sub-station is going to be commissioned in March, while construction of a pipeline from Dehra to Greater Noida via the Upper Ganga Canal has almost been done; this is expected to boost the water supply to the area. Greater Noida will get 85 cusecs of water through this pipeline.
The GNIDA has allocated more space for commercial activities in the city and has already allotted land to several institutional and commercial players.

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Fast developing sectors
Knowledge Park is one of the well-planned destinations in the NCR region, especially KP1,KP2,KP3 and KP5,which have been developed to cater to educational, institutional, commercial, and IT & ITeS sectors. Some of the educational institutes and IT units here are Sharda Medical College and Hospital, Galgotia Institute of Management and Technology, Birla Institute of Management Technology, NIIT, GNIT, ITS, SG Micro Software, etc.
Sectors like KP3, KP5 and Tech Zone have established industrial set-ups in the vicinity, near the India Expo Mart, and well connected to Yamuna Expressway. The proposed Metro extension of the Dwarka-Noida City Center Metro line to Pari Chowk will directly connect the city with Delhi and its surrounding areas.
Assured return projects
Developers and promoters like Omaxe Group, Era Landmarks, Sikka Group, Earth Infrastructures, Vardhman, Bhasin Group, Cosmic Group, etc., have launched assured-return commercial cum residential projects here. Fully equipped with smart technology, round-the-clock management services, video conferencing facilities, multi-access IT support, service apartments, multiplexes, shopping and entertainment outlets, the launched projects give 12% assured return with bank guarantee.
Assured return projects, IT and office space
The GNIDA had allotted a number of IT plots with 50% space reserved for IT units,15% each for commercial and residential units, and 20% for others activities, during the period of the IT boom in 2005-2006.The developers had then bought land at a low price, compared to today’s rocketing prices, in the developed sectors of Greater Noida.
Era Landmarks launched IT Square on 15 acres of land at Knowledge Park 3, Greater Noida. Equipped with an exotic lounge, a club with a swimming pool, IT Square is dedicated to commercial and IT spaces with retail, fully-furnished service apartments and a proposed institution. Era Landmarks has already sold 1,05,000 sq ft area to Investors Clinic for the development of residential (service apartments) units.
Sumit Bharana, director of Era Landmarks Ltd, says: “Greater Noida has a great scope for commercial market compared to Gurgaon. This can be determined based on three important parameters: price, connectivity and space. The rates of commercial space in Greater Noida are a third of the Gurgaon rates.”
“Growth in Noida is backed by planned infrastructure, better civic amenities and increased supply, compare to the Gurgaon commercial market. Greater Noida has better connectivity with wider roads and lesser traffic owing to the number of infrastructural developments in the region. Also, the availability and supply of the number of units in Noida is more compared to Gurgaon. Therefore, the Noida – Greater Noida belt has the potential to eclipse Gurgaon in the coming years,”Bharana said.
Service apartments
In projects like Era Landmarks’ IT Square, the G+7 structure has been carefully structured to have support facilities in the ground and the first floors while the second floor to the seventh floor will cover office space. Retail amenities will include ATM’s, banks, food courts, QSRs (Quick Service Restaurant), fast food counters, fine dining and multi-cuisine restaurants along with convenient shopping centres.
Earth Infrastructures has launched Earth Alpha Tech, Earth Beta Tech, Earth Gamma Tech, Earth Express One and Earth Studio on 15 acres of land at Tech Zone opposite the Gautam Buddha University in Greater Noida.
Vikas Gupta, joint managing director of Earth Infrastructures, says: “Our on going projects like Earth Tech, Earth Express One and Earth Studio are based on the concept of plug n play; they are ready-to-move-in fully furnished studio apartments replete with all the facilities and one need not invest extra money or time in doing them up.”
Assured return projects, commercial space
Omaxe Group is developing Omaxe Connaught Place at Sector Beta 2, Greater Noida, with a built-up area of 1.9 million sq ft. This will offer hyper market, five-screen multiplex, a family entertainment zone, a five-star hotel, and a modern office complex.
Rohtas Goyal, CMD of Omaxe Group, says: “Once completed, Omaxe Connaught Place will be a popular business, commercial and entertainment centre in north India. We have promised investors of 13% assured returns right from the first year of the project’s operation. We further assure that in eight years, investors will not only benefit from price escalation but get an assured return that works out to more than the initial investment.”
Bhasin Group is developing a shopping-cum-entertainment mall, Grand Venezia, in Greater Noida; this, too, is an assured-return commercial project.
Sikka Group is coming up with their new project DownTown.
More details coming soon....

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