News

Real estate

Posted Date: 2018-03-15

Real estate showing signs of revival; Need for correction in land prices, says Venkaiah Naidu

  The real estate sector is showing signs of revival after a period of slowdown, Vice President M Venkaiah Naidu today said but expressed concern over high prices of land parcels especially in smaller citie On high land price, Naidu said he wondered prices of land in Vijaywada and other places, are equivalent to New York and Washington. (PTI)   The real estate sector is showing signs of revival after a period of slowdown, Vice President M Venkaiah Naidu today said but expressed concern over high prices of land parcels especially in smaller cities. Addressing realtors’ body CREDAI annual conclave, he asked the association to adopt self code of conduct for members and keep distance from defaulting and fly-by-night operators. “After a period of slowdown in the market, the realty sector market is once again showing signs of revival, which is good for the economy,” he said. The construction and real estate sector plays a vital role as it is the second largest job provider after agriculture, he added. Naidu hoped that the CREDAI is well geared to implement the best practices as required in the new real estate law RERA (Real Estate Regulatory Authority). Referring to the court cases filed by home buyers against builders, Naidu said there is a need for regulator but regulations should not become strangulations. “If there is no regulation, then you have more and more Vijay Mallya’s, you have Nirav Modi’s…..,” the vice president said, adding that this realty law was passed during his stint as Minister of Urban Development. The law, which came into effect from May last year, seeks to bring much-needed transparency in the property sector. On high land price, Naidu said he wondered prices of land in Vijaywada and other places, are equivalent to New York and Washington.The cost of housing units is going up because of land, he said. Stating that land parcels are largely held by middle men, Naidu said, “there is a need for price correction” and “reality has to come in the real estate sector”. He also expressed concern over massive housing shortage of 19 million units currently, estimated to double at 38 million units by 2030. Highlighting steps taken by the government to boost affordable housing, the vice president said this segment will drive the real estate sector in coming months. Naidu said the private players have a great role to play in providing homes to people. The delay in clearance for housing projects should be addressed by local bodies, he said, adding that there should not be obstruction in development in the name of environment. Earlier, CREDAI President Jaxay Shah highlighted that initiatives taken by the association towards skill development of construction workers and waste management as well as environment protection. He also informed that member developers have taken up affordable housing projects in a big way.

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Big plans for Jewar Airport

Posted Date: 2018-03-01

Jewar international airport will have at least runways equipped with modern facilities, including a flying and training institute, and cargo and aircraft Maintenance Repair and Overhaul system. 

The announcement was made on concluding day of Investors’ Summit on 22 Feb 2018.Jewar airport is perceived as one of the key projects to ease air traffic at IGI airport Delhi. Union aviation minister Ashok Gajpathi Raju said the Jewar airport has to be developed within six years.

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Centre aims to develop Noida- Greater Noida a second Singapore

Posted Date: 2018-03-01

Speaking at the UP investor Summit, Union electronics and IT minister Ravi Shankar Prasad said “We can make Noida and Greater Noida a Singapore 

 like place where skilling, electronic manufacturing, education, management and global conferences can all take place together. The development of Noida & Greater Noida will percolate to the entire state” Noida & Greater Noida have huge potential for electronic manufacturing and education. There are convention Centres, skilling centres and new airport coming up in the area.

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Jewar airport to have 80m passengers by 2022

Posted Date: 2018-02-16

Price WaterhouseCoopers (PWC),the agency tasked with preparing the techno-economic feasibility report (TEFR) for the sanctioned international airport at Jewar, has projected that the airports in Delhi & Jewar will cater to over300 million passengers annually by 2050.

In the first phase, the Jewar airport will have two runways and will cater to the passengers count of 80 million when it is likely to get operational by 2022-23 two years before the IGIA reaches its threshold traffic handling capacity, PWC says.According to TEFR Jewar will have two additional runways in the second phase which will further increase its traffic handling capacity.Spread over 5,000 hectares with four runways, the sanctioned international airport at Jewar being built as “India’s Biggest”. Official said the authority had enough land along the Yamuna Expressway and the airport could be expanded if needed, depending on the traffic of passengers.

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Jewar airport construction to start in December 2018

Posted Date: 2018-02-15

The construction work on Jewar airport in Greater Noida will commence in December next year earlier than  Uttar Pradesh Governments schedule plan and well ahead of 2019 Lok Sabha elections.

In line with the advanced target Yamuna Expressway Industrial Development Authority (YEIDA) on Friday selected professional services firm to prepare economic feasibility report for the proposed airport.  

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NRI City homebuyers allege Noida authority issued OC for incomplete project

Posted Date: 2018-02-15

Homebuyers in NRI City housing society in Sector 45 on Tuesday demanded an investigation into the issuance of occupancy certificate for their complex

 Homebuyers said they have been living in a building that does not have an NOC from the fire and other departments. The builder had applied for an OC with the authority on April 21, 2014.Homebuyers in NRI City housing society in Sector 45 on Tuesday demanded an investigation into the issuance of occupancy certificate for their complex.They questioned how the Noida authority on May 31, 2016, had issued an occupancy certificate to the complex that is yet to have adequate facilities. Homebuyers alleged that the complex, which has nine towers, is yet to have fire systems in place, functional lifts, completed play zone, functional clubhouse or completed towers.

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Metro Rail Projects Need Environmental Clearance: NGT

Posted Date: 2016-06-05

The National Green Tribunal on June 1 held that all metro rail projects need environmental clearance after conducting proper Environment impact Assessment. 

The National Green Tribunal on June 1 held that all metro rail projects need environmental clearance after conducting proper Environment impact Assessment. A bench headed by NGT chairperson justice Swatanter Kumar said Noida Metro Rail, Whose construction was challenged in the plea before it, fell under schedule 8(b) of Environment Impact Assessment Notification, 2006, relating to buildings, construction and development projects which are mandated to get prior environmental clearance. The green panel also directed upcoming Noida-Greater Noida Metro project to obtain environmental clearance from State Level Environment Impact Assessment Authority (SEIAA).

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Better connectivity to boost housing in Noida

Posted Date: 2016-05-11

Metro connectivity in all real estate markets positively affects both residential and commercial stock as commuting gets easier and valuations improve.

Metro connectivity in all real estate markets positively affects both residential and commercial stock as commuting gets easier and valuations improve. However, prices are likely to be less in saturated areas and more in new markets where habitation is yet to settle and connectivity expected to improve .Driving along Noida City Centre towards Sector 50 and further down to Sectors 78 and 79, you can see construction activity in full swing. While there are thousands of apartments already habited, some are still under construction. While Sectors 50, 52 and 53 are considered high-end with prices ranging from Rs 8,000 per sq ft to Rs 12,000 per sq ft, most projects located in Sectors 75, 78 and 79 where construction of the Metro is in full swing, are affordable with price points ranging between Rs 4,500 per sq ft to Rs 5,500 per sq ft. If one takes a turn towards the Noida Expressway through Baghel Road, the first metro station expected to come up after Sector 82 is the one in Sector 137. It is surrounded by over a dozen projects and as many as 25,000 housing units. Many people have already moved into these projects. The Faridabad, Noida, Ghaziabad road (currently under construction) intersection is also close to this area and is expected to cut down driving time to Faridabad by 25 minutes.These projects are flanked by two commercial projects along the expressway where some companies have already moved in. Further down the road in Sector 143 are some 10,000 housing units by renowned developers. Sector 150 on the right side of the expressway has several projects under construction and about 10,000 units are expected to come up here. Several realty brands currently active in Gurgaon are also likely to launch projects in this sector in the coming months. The prevailing price in this sector is around Rs 4,000 per sq ft to Rs 5,000 per sq ft. Since sports facilities are also coming up here, this area is likely to be developed as a low-density sector. Also, while the floor area ratio (FAR, which allows more space to build on) in Sectors 75, 78 and 79 is around 4, it’s 1.75 in this sector).Metro stations to come up close to this sector are 146, 148 and 154, which, along with sectors 156 and 157, had been reserved for SEZs under the Noida Master Plan. Currently there is no habitation in these sectors and the stations are being built for future use. Further down is sector 168 where around 6,000 units are under construction. It’s likely that the authorities have decided to plan the entire Metro route now because of the long-term benefits involved as construction costs will be higher 10 years from now. Building a station on an operational route also has its added hassles. City and Industrial Development Corporation of Maharashtra Ltd (CIDCO) had developed Navi Mumbai and Vashi similarly. When the suburban areas wereplanned 20 years ago with virtually nil occupation. An established network helps in marketing both the sectors and projects better. Areas also command a premium as they are better connected, says Vivek Dahiya founder and CEO, GenReal Advisers.Getting infrastructure in place first also makes affordable housing successful as outskirts of cities get connected. “Here the main objective is to connect Noida and Greater Noida and to do it in one shot. In my opinion this is a good move,” he says.The 22-km Noida-Greater Noida Expressway is the road link between the two cities. A 30-km Metro stretch is now under construction that is expected to link Sectors 50, 75, 78, 79 and most sectors along the expressway with Greater Noida.Once the Metro is operational, says Anckur Srivasttava of GenReal Advisers, “this stretch will be a preferred corridor for live, work and play. It offers exciting residential options in the range of Rs 4,500 to Rs 5,000 per sq ft. Prices are expected to remain stable for some time to come as there is oversupply in this market.”In areas, however, where social infrastructure is in place and people have moved in and some offices have opened, there is room for appreciation in the range of 5% to 10%,” he says.Shveta Jain, managing director, Residential Services, Cushman & Wakefield, India, says a lot of supply is likely to be created along this stretch in the next three to four years. These are the affordable pockets of Noida (unlike Sector 93 and Jaypee Township). Enough pent-up demand also exists over here for housing in the range of Rs 4,500 per sq ft to Rs 5,000 per sq ft. Supply is available over here for anything between Rs 50 lakh and Rs 1.5 crore.Also, the housing supply expected to come up in these sectors will be staggered and will not come in at one go. This will ensure that consistent demand exists for the next few years.“Metro connectivity will definitely augment habitation in these locations. New launches are expected in this sector, especially by brands going,” she says.

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NCR's Twin Hotspots

Posted Date: 2016-03-06

While being a significant part of the NCR, Noida has continued to showcase its brilliance and prominence through various aspects. Noida, Greater Noida and Greater Noida West

While being a significant part of the NCR, Noida has continued to showcase its brilliance and prominence through various aspects. Noida, Greater Noida and Greater Noida West have emerged as strong real estate destinations in NCR, not only for the affordable and mid-segment homes, but even for luxury housing, with some world-class housing option available for the luxury buyers. With improves infrastructure, amenities and connectivity, there is no doubt that Noida-Greater Noida have emerged as the most attractive areas for both, end-users and investors. Talking about the same, Dr. Anil Kumar Sharma, CMD, Amrapali Group, says, “Connectivity is the biggest pull for any type of buyer to invest in a particular real estate project, zone or city.Noida and Greater Noida are blessed with fabulous connectivity options in the form of Yamuna Expressway and the proposed Metro, for which work is underway. Other than that, the zone also has self-sustainable economy in the form of small-medium businesses which can provide for the daily need for a good living.” Speaking about how competitive pricing has helped Noida and Greater Noida grow as attractive options for investors, RK Arora, chairman, Supertech Ltd. Says. “In comparison with the highly-competitive price in Delhi-NCR, the real estate in Noida and Greater Noida has emerged as a pleasant relief to the investors to make a purchase. If are planning for their dream homes in the NCR, these two cities offer comfort and super luxurious residential housing option at affordable stating price. Another reason that will help Noida grow as good investment option is that the prime sectors of Noida are within the reach of the Metro Stations and the housing projects have excellent connectivity to medical facilities, retail outlets and schools. Noida is also centrally located in NCR and the presence of DND, Noida-Greater Noida Expressway and FNG Expressway guarantee proper accessibility of Noida from other part of the NCR.” With the most factors favoring these two cities, Noida and Greater Noida are being looked up as destination with great investment potential in coming time, and it is expected that soon, investors will be making a beeline to get a suitable deal in these cities.

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NOIDA CLEARES AIR, SAYS NO HOUSE TAX PLAN

Posted Date: 2016-02-28

As residents welfare association (RWAs) in Noida declared war on a purported proposal to start a house tax, the Noida Authority cleared the air on February 23, 

As residents welfare association (RWAs) in Noida declared war on a purported proposal to start a house tax, the Noida Authority cleared the air on February 23, saying there was no such plan and the lease rent being paid by house owners would continue to be the only levy on them. The clarification came as the RWA federation started protesting after reports that a house tax would be charged in Noida. They also wrote to Noida Authority CEO Rama Raman. Raman also denied any such plan. In a section of the media, it was reported that Raman had announced the house tax at a conclave last week as a measure to generate funds for development.Hot Properties - Affordable homes . 2 Year Assured Rentel. Pay 5% Rest On Hand Over

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Key projects may get mega push in Noida budget

Posted Date: 2016-02-28

The three development authorities of Gautam Budh Nagar - Noida, Greater Noida and Yamuna - are getting ready to table their annual budgets on March 2. 

The three development authorities of Gautam Budh Nagar - Noida, Greater Noida and Yamuna - are getting ready to table their annual budgets on March 2. According to sources, almost Rs 20,000 crore will be allocated to the three areas for the next financial year. While Noida is likely to put aside about Rs 9,000 crore for financial year 2016-17, Greater Noida is likely to spend Rs 7,000 crore, while Yamuna Expressway Industrial Development Authority (YEIDA) is expected to table a budget of over Rs 4,000 crore. The three authorities are also likely to expedite several key infrastructure projects in 2016. The three authorities are likely to allocate a large chunk of their budget for various development projects. Next on the priority list would be land acquisition and compensation for farmers. All three authorities hope to develop their respective areas as major infrastructure hubs, on a par with major Indian cities. According to sources, Noida Authority is likely to allocate almost 50% of the budget to various development projects. Besides Metro connectivity, the authority will spend about Rs 5,000 crore on projects like construction of elevated roads, flyovers and underpasses to circumvent traffic bottlenecks in the city, as well as construction of major link roads between Noida and Delhi. The sum will also be used to provide basic services like healthcare, power, water, transport and a riverfront corridor along the Hindon to contain land encroachment. A large sum is also expected to be kept aside for city maintenance and to enhance security. Sources said Noida Authority had, till December last year, spent about 50% of its 2015-16 budget. The balance will be revised and added to the fiscal year 2016-17. In Greater Noida, while a portion of the budget, about Rs 3,500-4,000 crore will be allocated for land acquisition and compensation to farmers, the rest will be set aside for infrastructure projects including Metro. YEIDA is expected to allocate a lower budget than last year, which was Rs 6,229 crore. For the next financial year, it has set about Rs 4,000 crore as its budget. While farmer compensation will lead this year's budget with almost Rs 1,500 crore, the authority also plans to put aside about Rs 1,000 crore for infrastructure development. Other expenses budgeted include Samajwadi Awas Yojna, horticulture, rural development, etc.  

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Trial run of Noida- Greater Noida Metro

Posted Date: 2018-02-15

The trial run of Noida – Greater Noida metro commenced on January 02,2018 with Delhi Metro Rail Corporation Managing Director Mangu Singh flagging off the ambitious project to link the twin cities by rail.

Initially the metro will run between Greater Noida depot to Knowledge Park 2metro Station a stretch of around 6 Km, after tests and clearance, according to official release.The total length of this metro link is 29.07 km and is called the Noida-Greater Noida Metro Rail corridor. It has 21 metro stations, with Noida Sector 71 in Noida and Delta Depot Station in Greater Noida being the two terminus stations, the release stated. 

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Homebuyers affordable target

Posted Date: 2016-10-23

Greater Noida has emerged as a destination of choice for a majority of people looking out for their own home. Greater Noida is a place which offers a good mix of under- construction and ready to move-in properties.

Greater Noida has emerged as a destination of choice for a majority of people looking out for their own home Greater Noida is a place which offers a good mix of under- construction and ready to move-in properties. Amidst the high unsold inventory and weak market condition, Greater Noida still outshines other parts of NCR. Greater Noida is known for its number of established and forthcoming sectors. Entire Greater Noida has been a tremendous growth over the years. Ahead of Pari Chawk, the city is sub- divided into residential and commercial sectors, such as Alpha,Beta,Gamma,Delta,Pi,Chi-V,Eta,Sigma,Mu,Omega,Omicron and Zeta. Owing to growing inventory of unsold units, of late the resale market in Greater Noida has seen some correction. Against this, the primary segment of Greater Noida has seen much movement in prices which is a good opportunity for the potential buyers to buy a house here. In 2013, I bought a flat of 1,225 square feet in Greater Noida west for c45.56 lakh. I will get the possession of the flat in 2017, but the value of the flat has already been touched ₹ 60 lakh. I knew that this area will grow by leaps & bounds. This is one of the fast growing areas of NCR, says Harpreet, who is living in a rented apartment in South Delhi now. Greater Noida offers properties ranging from ₹ 2,602 and ₹ 4,000 per sq.ft. on an average,with a few developed sectors having properties on the higher side of this range. Sandesh Singh bought a home in Greater Noida three years back. He says,” when I bought a flat here three years ago the price were really low. There has been a handsome growth in the rates even at the time when the market has not been that good. I am expecting even better returns in the days to come as the metro connectivity will reach here.” Greater Noida’s residential sectors have all the necessary amenities in place. Also, the roads here are wide and are in good condition. The ongoing expansion of the metro rail connecting Noida City Centre with Greater Noida, via Greater Noida West will give the reality market a big boast in times to come. Times of India

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Mission Possession

Posted Date: 2016-09-18

Reality majors like Supertech, Amrapali, JP Group, Gaursons, Arihant, Antriksh India, Exotica housing,Gulshan Homz,Ajnara India, Logix,amomg others, are working to deliver around 45,000 housing units in Noida & Greater Noida by the end of March,2017.

Reality majors like Supertech, Amrapali, JP Group, Gaursons, Arihant, Antriksh India, Exotica housing,Gulshan Homz,Ajnara India, Logix,amomg others, are working to deliver around 45,000 housing units in Noida & Greater Noida by the end of March,2017. According to Credai, western UP chapter, developers in Noida & Greater Noida west ( formerly Noida Extension), region will give possession of nearly 45000 houses by the end of this financial year, so as to address the current saga interminable delays in residential project to an extent. Deepak Kumar, president of Credai, Western UP said: “According to our data base, while 25,070 units have been delivered in this financial year so far, nearly 45,000 flats are slated for delivery in this region by the end of March, 2017. Once all these units are delivered, nearly 1 lakh people are expected to move to the Noida and Greater Noida region by next year.” Supertech Ltd. which has delivered 16,000 units over the past two years, plans to deliver another 12,000 units in different pockets of Noida-Greater Noida region by March,2017. With the projects worth Rs.50,000 crore in progress, Supertech has more than 80,000 units under development. R K Arora, chairman of Supertech Ltd. said: “ We are working on PM Narendra Modi’s dream of “ Housing for all by 2022”.We are adhering to tight delivery schedules accomplish this task and have tied up with the world’s best names in the field of architecture, design and technology for timely completion of our projects with a focus on quality.” Amrapali Group has delivered 960 housing units, which are spread over its various projects like Silicon city, Princely Estate, Sapphire Court, Platinum, Titanium, and leisure Valley located in Noida and Greater Noida, in the last two month; earlier, the group offered 5,244 units for possession from the same projects, a spokesman of the firm said. The MD of Gaursons, all of whose projects are running on time, said that the company has given possession of around 6,000 apartments in its marquee projects, Gaur City, in the last six month and that they will deliver another 4,000 units in the next couple of months in the same project. Antriksh India Group has delivered over 3,900 units in Antriksh Golf View 2,etc. in past one year and plans to deliver over 4,000 units over the next one year. Arihant group has delivered 1,050 flats in its Arihant Arden under phase 1 and 2 of the project located in sector 10, Greater Noida West. Gulshan Homz has offered possession in two of its projects, Gulshan Vivante and Gulshan Ikebana, along Noida Expressway. Ajnara India Ltd. has delivered over 2000 units in Ajnara Daffodil and Ajnara Homes, over the past two three months and plans to deliver another 5000 units in the next3-6 months. In Gurgaon, too,reputed developers like DLF, Emaar MGF, Bestech,Chintels, Raheja developers, ATS, Tulip Group, Orris Group, Vatika,MAPSKO,etc. have put their project delivery on mission mode. Team Times Property

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Proposed Jewar airport gets NOC from defence ministry

Posted Date: 2016-08-28

The path is clearing for the development of an international airport at Jewar, near Greater Noida with the ministry of defence recently giving a NOC to the proposal.

The path is clearing for the development of an international airport at Jewar, near Greater Noida with the ministry of defence recently giving a NOC to the proposal. The much-awaited Jewar International airport has taken another step to an eventual sanction with the union defence ministry sending in a no objection certificate to this proposal from the centre and UP government. An airport at Jewar will benefit the real estate sector of Noida & Greater Noida enormously, especially at a time when the real estate has taken a hit due to the economic slowdown over the years. The development of infrastructure in the form of a new airport will greatly help in reviving demand key regions here. This development holds great significance as there is now greater clarity over this proposal, which was in the works for more than 15 years now. History is witness to how infrastructure and connectivity helps a region grow and transform the socio economic profile of the area.

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More agencies roped in to audit G Noida projects

Posted Date: 2016-07-16

The Greater Noida Authority has decided to allow external agencies to monitor residential and commercial realty projects in the city. Earlier on June 24, the Authority had allowed only IIT and NBCI to conduct a floor-wise audit

 

The Greater Noida Authority has decided to allow external agencies to monitor residential and commercial realty projects in the city. Earlier on June 24, the Authority had allowed only Indian Institute of technology (IIT) and National Building Code of India (NBCI) to conduct a floor-wise audit of an under-construction group housing building. “Now after suggestions from builders we have decided to add more external agencies (other than IIT and NBCI) to the list allowed to carry out audit of under-construction towers. We agree with the suggestion by builders that two agencies do not have the bandwidth to deal with the bulk of buildings in Greater Noida,” says Deepak Aggarwal, chief executive officer (CEO) of the Greater Noida Authority. The move will ensure that builders do not deviate from sanctioned building plans during construction. Builders have so far objected to floor-wise audits because they fear that the move will delay construction and projects will not completed within time. According to officials, floor0wise inspection or audit of a building generally takes about one or two months. This means that a 24-storey tower will take up to 24 months or more for the entire process. “We will not allow a floor-wise inspection of a building because it will delay a project as the process of audit and sub mission of report takes time. Therefore, we have decided to first get the foundation of a building inspected by an external agency. And then audit 20% construction of building. What this means is that after the building foundation is inspected, the external agency will audit the building after 20% work is completed,” says Aggarwal. Officials calm that builders usually make maximum changes after the foundation of the building is ready. “Audit of a building foundation is a must because that is the time when a builder tries to tamper with the plinth area allowed under the sanctioned plan, “says PC Gupta, additional chief executive officer of the Greater Noida Authority. Builders usually utilize green spaces and other public spaces to construct more housing units and increase there revenue. “I do not think eternal agency monitoring will help until stern action is taken by the Authority. If builders feared the Authority they would not have dared tamper with the layouts,” says Shashank Mishra, a home buyer.     

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Godrej Properties enters Greater Noida market with 100 acre project

Posted Date: 2016-06-25

Realty firm Godrej Properties has partnered with AR Landcraft to develop 100 acre township project in Greater Noida. The Mumbai-based developer has partnered with AR Landcraft LLP to develop a 100 acre project in the city, it added.

Realty firm Godrej Properties has partnered with AR Landcraft to develop 100 acre township project in Greater Noida. The Mumbai-based developer has partnered with AR Landcraft LLP to develop a 100 acre project in the city, it added. Godrej Properties, the real estate arm of the Godrej Group, plans to develop a golf centric township on this land parcel with a saleable area of about 4 million sq ft. This is company's first project in Greater Noida and seventh within the National Capital Region (NCR). "Greater Noida is an important part of the NCR market and this project addition fits well with our strategy of deepening our presence across the country's leading real estate markets," company's MD and CEO Pirojsha Godrej said. In January, Godrej Properties had announced its entry into the Noida real estate market in tie up with a local developer Lotus Greens. The company would develop a housing project spread over 36 acres with a saleable area of 4 million sq ft. At present, Godrej Properties is developing residential, commercial and township projects spread across about 119 million sq ft in 12 cities.

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Greater Noida authority offers parks for adoption

Posted Date: 2016-06-19

The Greater Noida authority has come up with a policy under which an NGO, educational institute, a social group or agency can adopt city parks for maintenance.

The Greater Noida authority has come up with a policy under which an NGO, educational institute, a social group or agency can adopt city parks for maintenance. The policy aims to ensure that parks are maintained without spending public money on them and encourage social groups to participate in governance.  “Any social group, educational institute, resident’ welfare association or NGO can adopt a city park for three years and spend money from their pockets on maintenance. However, we will not allow an individual to adopt a park. The interested group can recover maintenance fee through advertising on the space outside the park,” said Anand Mohan Singh, director horticulture of the Greater Noida authority. “Social groups, corporate houses or NGOs should come forth to help the government in developing community parks. It will save a lot of public fund and inspire the general public to be a part of park maintenance. A government agency alone cannot ensure clean parks. Resident will have to come forth to support us and park adoption is a way to work together,” Singh said. Greater Noida city is spread across 40,000 hectares and has a total of 400 parks. The space along city roads is developed as green belts. “We are ready to allow adoption of green belts too if any group is interested. Once we receive an application for adoption, the authority team will decide whether the interested party is eligible to make an adoption or not. The authority will ensure the parks and green belt are maintained properly,” said a Greater Noida authority official. The Noida authority in 2013 had come up with the adoption scheme for city parks. However, RWAs and NGOs did not show any interest in the scheme. In Noida, the agency that adopts a park is not allowed to use space for advertising to recover maintenance cost. “We want that the agency that adopts a park to be ready to bear the cost of maintenance. As of now, three realtors adopted three Noida parks. No RWA or NGO has adopted a park,” said Omvir Singh, director horticulture of the Noida authority.

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Ramps at Jewar and Bajna to decongest Yamuna e way

Posted Date: 2016-06-11

The Yamuna Expressway Industrial development authority (YEIDA) has decided to construct ramps near two congested stretches on the highway. The move is aimed at streamlining traffic on the six-lane 165-km-long expressway.

The Yamuna Expressway Industrial development authority (YEIDA) has decided to construct ramps near two congested stretches on the highway. The move is aimed at streamlining traffic on the six-lane 165-km-long expressway.   The authority will construct a ramp for exit and entry at jewar, located 36 km from the zero of the Yamuna Expressway that connects Greater Noida with Agra. Another ramp will be built at Mathura’s Bajna, located around 100 km from Greater Noida. The decision to construct the ramps was taken by the authority at its board meeting on Thursday. Commuters as well as local farmers had been demanding decongestion of the two stretches for quite some time now. In the absence of ramps, motorists not only have to travel more but also face congestions. “The two ramps will address the problem of congestion that motorists face at these two points on the Yamuna Expressway. Using the ramp proposed at Jewar, commuters will exit and entry the expressway easily. Similarly, motorists coming from Agar and going towards Delhi will be able to use the proposed ramp at Bajna,” said Arun Vir Singh, chief executive officer (CEO) of the YEIDA. Last month, farmers from many villages, including Jewar, blocked traffic on the expressway, demanding construction of the ramp. The ended the protest only after the YEIDA promised to construct the ramp. “According to the procedure, we will hire a private agency and construct two ramps very soon. This will benefit the motorists a lot,” said the CEO. According to motorists who use the expressway regularly, in the absence of rampat jewer, they have to travel 70km extra and also pay an additional toll.  “Jewar is a big town and thousands of commuters coming from Agra to Jewar and vice-versa have to travel  Greater Noida to take a U-turn towards Jewar. But if a ramp is constructed, commuters will exit towards Jewar without travelling to Greater Noida, Also, now if motorists from Jewar want to go to Agra, they have to come to the other side. This causes congestion on the expressway,” said Amit Kaushik, a resident of Jewar. Using the ramp, a commuter will directly enter the Yamuna Expressway without going to the other side.

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Land of 21 villages to be utilized for industrial corridor

Posted Date: 2016-06-10

The Greater Noida authority approved a proposal that will enable the Delhi Mumbai Industrial Corridor (DMIC) to notify 21 villages for the development of the industrial township. 

The Greater Noida authority approved a proposal that will enable the Delhi Mumbai Industrial Corridor (DMIC) to notify 21 villages for the development of the industrial township. The notification will ensure that land in these villages can be used for the project. These 21 villages near Greater Noida’s Dadri area fall along the DMIC’s 1,483-km rail route from Greater Noida’s Maicha to Jawaharlal Nehru Port in Mumbai. It is being developed by the centre will help of funds from japan. “These 21villages were part of the Greater Noida’s master plan as it had notified them along ago. Now, the Greater Noida authority will denotify these villages. Subsequently, DMIC will notify the villages and use their land for the project,” said Deepak Agarwal, chief executive officer (CEO) of Greater Noida authority. Around 200 sq km area comes under these 21 villages. DMIC will have many large industrial townships along the rail route. One of the townships is being developed on 335-hectare land in Greater Noida’s Maicha village. Mumbai-based developer Shapoor ji Pallonji, which was awarded the project on January 9, 2016, began work on March 11. It is developing infrastructure such as road, drainage, sewer, water and power supply systems for the township near Maicha. “Industrial land under DMIC will have 2.5 global floor area ratio (FAR). It means the FAR in the industrial township will be governed by the global norms related to it,” said the CEO. Located in the Dadri-Noida-Ghaziabad investment region of the corridor, the township is expected to provide employment to thousands of workers. According to official, the township is to have 51% industrial area, 17% residential area, 7% area for commercial activities and the remaining area will be left for development of a green zone. 

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Noida Greater Noida Metro line will be one of the fastest ever executed

Posted Date: 2016-05-28

Santosh yadav, MD of Noida Metro Rail Corporation, said in an interview with Times Property that the fourthcoming 30km-long Noida - Greater Noida Expressway through sector 80 (Dadri Surajpur Road) to sector 137 

Santosh yadav, MD of Noida Metro Rail Corporation, said in an interview with Times Property that the fourthcoming 30km-long Noida - Greater Noida Expressway through sector 80 (Dadri Surajpur Road) to sector 137 will be the second largest network in the country. “It will help improve connectivity, lower pollution level, reduce traffic congestion, improve safety and the overall growth of the region, “Yadav said, “With the permissible built-up area along the Metro corridor up, thousands of more housing units can be developed. As Metro provides green transportation, as opposed to other modes, it will be directly connected to housing societies through walking corridors,” Yadav said.    

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Get ready for four smart cities along Yamuna e way

Posted Date: 2016-04-30

The Yamuna Expressway industrial development (YEIDA) that controls 165 km Yamuna Expressway, has made many announcements in last four years to boost urbanization in its two lakh hector area.

The Yamuna Expressway industrial development (YEIDA) that controls 165 km Yamuna Expressway, has made many announcements in last four years to boost urbanization in its two lakh hector area. However, the impact of these ambitious big announcements is yet to be felt on the really sector. On September 15, 2014, YEIDA had decided to develop four smart cities along Yamuna e-way, an entry-restricted road that connects Greater Noida with the international tourist hub of Agra. The four urban centres are expected to accommodate are excepted to accommodate people wanting to move to cities from villagers or coming to new urban area of employment. These new cities along the e-way are to be developed in Aligarh, Mathura, Agra and Hathras district areas located along this high-speed link. The UP government and YEIDA opened the e-way to public on August 9, 2012 but the authority yet to deliver a residential project to people. “These four urben centres project is at a very nascent stage. The authority is busy making drawings for these projects. It takes a long time to execute such big projects because of the approvals be taken from multiple authorities. But yes, these four urban areas will be better than what a smart city promises, “said RK Singh, additional chief executive officer (ACEO) at YEIDA. YEUDA had in 2014 announced its plans to develop a 11,100 hectors (half the size of Noida) urban centre (city) in the Tappal-Bajna area in Aligarh: an 8,910-hectare city in Raya of Mathura district; a 10,600-hectare city in Agra and 1,500-hectare city in Hathras. The authority had also said it would come up with a residential scheme by the end of 2015. According to officials, the total area under the Master Plan-2031 measures over two lakh hectares, and is expected to have a population of 21 lakh by 3031. This land to be urbanized is located along the E-way. The authority is yet to procure land for these four urban centres. “We have decided to directly purchase land from farmers from these projects. We will soon chalk out a plan and work out the timelines,” says Singh.

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No hike in land allotment rates

Posted Date: 2016-03-29

The Greater Noida authority has decided not to increase land allotment rates as a hike in land prices at this juncture would discourage land buyers in Greater Noida.

The Greater Noida authority has decided not to increase land allotment rates as a hike in land prices at this juncture would discourage land buyers in Greater Noida. Land allotment rate is a fixed value at which a local authority allots land to a buyer, including builders, industrialist and educational institutes etc. If allotment rates are increased, property rates for new projects go up. “We believe the prevailing land allotment rates in all categories, including residential, industrial and commercial properties, are a little high in Greater Noida. We have decided not to increase land allotment rates as of now because the current realty market sentiment does not support it. A hike at this juncture will further dampen buyers’ spirit,” said Deepak Agarwal, chief executive officer (CEO) of the Greater Noida Authority said on Monday. The Authority took the decision after the lukewarm response to its plot scheme at the prevailing rates. According to officials, the authority failed to get buyers for its open-ended industrial and commercial plot schemes. It had launched a scheme for 100 industrial plots in January 2016 and for 44 commercial plots in 2015. “The authority decided to sell commercial plots in the range of Rs. 46,000 to Rs. 60,000 per square meter. We have been able to sell only eight plots out of the total 44. Among the industrial lots too, we could sell only four plots out of 100. There is no point in increasing the allotment rate when buyers are not available in the market,” said Agarwal. The authority was supposed to increase its land allotment rate by this month. Last year, it had increased allotment rates from April 1 and in 2014 it had increased the rate on May 12. “We do not know when the rates will be increased next. As of now, no hike is planned. We will form a committee that will conduct a study in the market and tell us when we can think of a bringing in a hike and by how much,” said Agarwal. Welcomimf the decision to not increase land allotment rates, Anil Mithas, chairman and managing director (CMD) of the realtors Unnati Group and a member of confederation of real estate developers association of india (Credai) said, “Such an increase at a time when the realty market is already facing an economic slowdown would have further affected buyers sentiment. When there are hardly any sales in the realty market, a hike would have been a wrong decision. We need to win over buyers’ trust by not increasing land prices.” 

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Rahul Gandhi assures support for real estate bill to homebuyers

Posted Date: 2016-03-04

Congress vice-president Rahul Gandhi on Thursday met the representatives of flat owners’ associations of the twin cities and extended his support to the Real Estate Regulatory Authority (RERA) bill.

Congress vice-president Rahul Gandhi on Thursday met the representatives of flat owners’ associations of the twin cities and extended his support to the Real Estate Regulatory Authority (RERA) bill. The homebuyers of the twin cities have started a movement by uploading video messages on twitter to pass the bill. HT was the first to report about the online movement. The homebuyers had also planned a protest against Gandhi if the opposition halts the proceedings of Parliament in the Budget session blocking the RERA bill. “Gandhi told us not to worry and assured that the Congress party was never against the RERA bill. He said if the government tables the Bill in the Parliament, he will support it without ant second thoughts,” said Abhishek Kumar, president new era flat owners association (NEFOWA). The flat owners had started the movement ‘Fight for Rera’ online and created a hashtag ‘#passrerabill’ on twitter to tag video messages to all politician concerned. “Following his assurance, we have cancelled our protest against him, which was scheduled on March 5 at Jantar Mantar. Now we are trying to meet union urban development minister Venkaiah Naidu to convince him to table the bill in the Budget session,” said Shweta Bharti, member of flat owners’ association. Members of the flat owners association said they will meet everyone possible to get the Bill passed. “There is no rule to safeguard the middle class families’ entire life’s saving which they are investing to buy a flat. Ninety per cent of the builders here are defaulter and have delayed the possession,” said Abhay Upadhyay, member of the delegation of flat owners’ association which met Gandhi on Thursday. The RERA Bill proposes creation of state-level regulatory authorities whom homebuyers can approach with their complaints. This authority will be empowered to prosecute and punish real estate developers for deficiency in service. The bill was cleared by the cabinet last year but it was not tabled in the Parliament because of debates on various issues and the opposition disrupting the proceedings. The central Cabinet had passed the RERA Bill last year and it is pending to be cleared by Parliament. “It is the need of the hour. Its the job of the government and the opposition to assure a safe investment for homebuyers. Whoever is found blocking the Bill, we will stage a protest against them,” said Indrish Gupta, a member of the delegation.

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Affordable property price is Noida-Greater Noida's biggest USP

Posted Date: 2016-02-23

Real estate experts point out that overall, the affordable prices of property in the Noida-Greater Noida region-much less than that in the Capital and Gurgaon-make it most lucrative for buyers.

Real estate experts point out that overall, the affordable prices of property in the Noida-Greater Noida region-much less than that in the Capital and Gurgaon-make it most lucrative for buyers. Bordering east Delhi, the Noida-Greater Noida region has become one of the most sought-after areas for those looking to invest in property in the National Capital Region (NCR). It is also one of the country's largest industrial suburbs. Major IT companies such as IBM, TCS, HCL, Tech Mahindra, Adobe and Dell, and power companies including Reliance, NTPC, Tata Power and Indian Oil have their corporate offices here, making the region an employment hub. Presently, the property market in Noida and Greater Noida is divided into three pockets. The first pocket includes Sectors 74, 75, 76, 78, 79, 119 and 120. Proximity to the Metro rail is their biggest USP. Also, there are plenty of ready-to-move-in apartments in these sectors, which is another big draw for buyers. Prices are usually between Rs 4,500 and Rs 5,000 per sq ft.

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NH 24: Your new home is here

Posted Date: 2015-02-27

Infrastructure development and connectivity are the key elements needed for the growth of a real estate destination. Therefore, developers in the Delhi/NCR region feel that the expansion of the National Highway-24 (NH-24).

Infrastructure development and connectivity are the key elements needed for the growth of a real estate destination. Therefore, developers in the Delhi/NCR region feel that the expansion of the National Highway-24 (NH-24), also known as Delhi-Meerut Expressway, will not only improve the connectivity of various towns in the region with Delhi, but will also change the dynamic of the real estate market in the near future. 1.   The widening of the Delhi-Meerut Expressway will start from Nizamuddin Bridge (T-Point) in Delhi and will continue on the existing NH-24 up to Dasna. 2.   From Dasna there will be a new alignment up to Meerut. The alignment up to Meerut. The alignment will end on inner ring road/Meerut bypass near rail-way ceossing at Meerut. 3.   Providing access to Ghaziabad, Noida and Greater Noida, NH-24, Once fully developed, will connect up to Meerut and Hapur.

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