Latest Property News on 'Noida'

New Noida: Emerging investment oasis

New Noida is a developing area that is emerging as a good residential and work destination due to expansion of the footprint of Noida city towards its peripheral areas.

This area lies north-east of Noida. New Noida is bound by NH-24 and Dadri Road to the North, Faridabad-Noida-Gurgaon Expressway to the South and Hindon River to the East. This region comprises Sectors 63-79 and Sectors 112-122. These sectors are just at a distance of 20 minutes from Sector 18 (retail / commercial hub of Noida), adjacent to Sector 62 (Electronic City) which has emerged as a major business hub. This area is also between 5-15 minutes drive from the Noida City Centre metro station.

With the completion of the extension of the metro line towards Greater Noida and FNG Expressway, the connectivity of New Noida will certainly improve with Delhi and other regions of NCR. The metro route will come as an extension of the existing Sector 32-based Noida City Centre metro line that will be extended up to Greater Noida West via Sectors 72 and 121. The completion of FNG expressway will further improve the connectivity with Ghaziabad, Faridabad and Gurgaon.

New Noida has a great potential over the other developing micro markets of NCR region like NH-24, Raj Nagar extension, Greater Noida West, Kundli, Neharpar, Sohna, Manesar, Bhiwadi and Yamuna Expressway etc. This area is a fast evolving self-sufficient market with industrial, office, retail and workforce linkages. Its proximity to other residential zones makes it ideal for habitation. This region possesses good infrastructure facilities and has an ample supply for the affordable units to meet the demand.

New Noida has perfect mix of high rise towers and plotted developments. This area has a lot of housing supply by various developers like Supertech, Amrapali, Unitech, Eldeco, Antriksh, Mahagun and Sikka group. Currently the projects of these developers are available in the range of Rs 4,000 – 5,500 per sq ft depending upon location, developer and stage of construction.

These sectors, offering apartments at much more affordable prices, which are well within the reach of the middle class will give good returns over the long term. Residential investments in this area would be very fruitful in the present scenario when compared with the other areas like Noida Extension and Noida Expressway due to its connectivity and this area has already become habitable.

The pricing of apartments in New Noida has witnessed an increase of 30–40 per cent over the last two years. This appreciation has also taken place due to the prevailing issues in Noida Extension in last few years. With the prices of Noida Extension touching Rs 4,000 per sq ft this region has become a preferred investor and end-user location.

Research studies conducted by international consultants show that during last year there was a dip in absorption trends, however the real estate markets of New Noida has not shown a drop in sales. Primarily the reason was the number of project launches in the affordable segment in this area. Noida also emerged as another outsourcing IT hub within the NCR Region. A number of IT/ITeS companies are targeting to set up their base in this area, specifically Sector 63.

New Noida market can therefore be looked as a good location for short term investors. With an investment period of 2-3 years one can expect a minimum of 15-25 per cent returns on their investments annually.

Noida can be considered as a safest investment if compared with the areas such as Greater Noida, Greater Noida West, Yamuna Expressway and NH-24. Hence, New Noida is a good realty destination for all i.e. end user, short-term investor and long-term investor as well. One can expect good returns if the investment horizon is 3-5 years.

http://www.financialexpress.com/news/new-noida-emerging-investment-oasis/1114450/0

Encroachments delay construction of underpass

NOIDA: Though the estimates for the proposed underpass at Sector 94, near the Shahdara Drain, were approved by IIT Delhi earlier this week, the project is in for some delay as the stretch near the furniture market, through which a part of the 750m long underpass is to pass through, is heavily encroached upon. The encroachers, mostly shop owners and scrap dealers, have even managed to get a stay from the Allahabad high court.

“As per the Authority’s plan, a seven-metre loop on the proposed underpass. This loop is to pass through the furniture market area. However, this stretch is heavily encroached upon and some of the scrap dealers in the area have even managed a stay from the court. The stay has only encouraged the encroachers and the land that actually belongs to the state is now a bustling market area,” an official said. “However, the Authority is consulting its legal team and we hope to resolve the issue at the earliest,” he said.

The Authority plans to rehabilitate some of the shop owners and scrap dealers in the area and begin work on the underpass by July this year.

The four-lane underpass on Master Plan road number 3 is to come up at sector 94-95 to make the stretch between Kalindi Kunj and National Highway -24 signal-free. The project also found a spot in the list of the “important development projects” announced by Chief Minister Akhilesh Yadav in April this year. Bids for the project have also already been invited. “Following the announcement, the foundation stone for the project was also laid down, hence, we are trying to resolve all issue obstructing the construction work and ensure that work begins at the earliest,” the official said.

The underpass will ensure that those commuting from Faridabad to Sarita Vihar via Kalindi Kunj-NH 24 will not have to stop at any traffic signal. It will also benefit the commuters coming from Delhi towards sectors 125, 94, Antim Niwas. These commuters currently need to use the Mahamaya Flyover. They are then forced to take the two loops, come towards Delhi and then take the left turn towards sector 125.

http://timesofindia.indiatimes.com/city/noida/Encroachments-delay-construction-of-underpass/articleshow/20009379.cms

Akhilesh wants quick approval for Metro

Uttar Pradesh Chief Minister Akhilesh Yadav has written to Union Urban Development Minister Kamal Nath seeking “immediate approval” for expansion projects of Delhi Metro Rail Corporation to Noida and Greater Noida.

In his letter, Akhilesh mentioned three Metro projects — extension of existing Rithala to Dilshad Garden line to Ghaziabad new bus station, Kalindi Kunj to Botanical Garden, and a Metro connection between Noida and Greater Noida.

The Chief Minister said the high-speed public transport will aid trade and development in the region and also benefit daily commuters.

The extension of Rithala line to Ghaziabad new bus station has already received the approval from UP, with the state agreeing to bear its share of funds. The 9.5-km long link is expected to cost Rs 1,600 crore, of which UP and Ghaziabad Development Authority will pay around Rs 990 crore. The Centre will give around Rs 344 crore and DMRC will shell out Rs 254 crore.

The project is now waiting for an approval from the Centre. Details for the other two projects are still to be worked out.

http://www.indianexpress.com/news/akhilesh-wants-quick-approval-for-metro/1113286/

Audit on to make e-way safe

NOIDA: Almost four months after Noida Authority assigned the Central Road Research Institute (CRRI) the task of conducting a safety audit of the Noida-Greater Noida Expressway, the report is scheduled to be submitted by May 15. Officials said, taking into account the frequent accidents on the expressway many of which have been fatal, the survey has focused on several infrastructural and safety lapses.

The CRRI report would also help in identifying black spots on the expressway and suggest means to rectify the accident-prone areas to bring down the accident rate on the 24km stretch. The audit report will try to find the deficient safety measures in design implementation of the expressway. “The audit report is being prepared not only because of the accidents but to obtain an expert opinion on the safety design. No matter how good a design is, there will be deficiencies and we want to rectify these,” said Rajeev Yadav, chief project engineer, Noida Authority.

According to officials, besides giving a quality certification of the expressway, CRRI will also provide corrective measures for each of the detected flaws as well as additional suggestion wherever required. “Once we receive the report from CRRI, changes to make the expressway safe for commuters will be implemented,” Yadav said.

In the past four months, faults relating to the curvatures, shoulder width, crash barriers and signages have also been surveyed by CRRI. The agency also gathered data from secondary sources and an analysis is on. The existing design of the central verge, entry/exit points, safety and emergency measures, foot overbridges, etc have also been on the institute’s scanner.

“The number of vehicles using the expressway keeps increasing every year and there is a need to make changes accordingly and to identify and evaluate infrastructure-related problems. With CRRI’s assistance, we will inspect and upgrade the expressway as well as educate people on traffic discipline,” Yadav added.

Since its inception in 2002, the Noida-Greater Noida Expressway has been the site of hundreds of deaths. In the past six months alone, nearly 20 people have lost their lives while about 50 have been left injured. Authority officials have also proposed to implement an Intelligent Transport System which aims to control incidents of over-speeding, fatal accidents and traffic congestion.

Key features of the ITS would be a control room, emergency call box, message signboards, CCTV, speed cameras, VIDS camera and meteorological data system.

http://timesofindia.indiatimes.com/city/noida/Audit-on-to-make-e-way-safe/articleshow/19921890.cms

Change in location plans to delay parallel bridge to Okhla Barrage

NOIDA: Commuters who use the narrow Kalindi Kunj Bridge to travel between Noida, Delhi and Faridabad will have to brave traffic snarls on the stretch for a while longer as the proposed alternate six-lane bridge has been delayed. Noida Authority said that the recently concluded hydraulic study for the bridge has highlighted some issues with the proposed location. While changes will be made now, the amended report will come through only in July.

While the Authority had proposed to construct the parallel bridge between the existing Okhla Barrage and the upcoming Metro line, the Central Water & Power Research Station (CWPRS), Pune, in its report following a visit pointed out that the site will attract a lot of sediment from the Yamuna. The Authority has, hence, amended the proposal and suggested that the parallel bridge will now come up along the Metro line. However, as per the new plan, the Metro line might obstruct the bridge at the point where it turns.

“We feel that the Metro might go over the parallel bridge at the point where the line turns. Hence, some changes will have to be made in its alignment and, as per the initial review, the location of the proposed Metro station will need to be shifted by a few metres,” an official said.

Authority officials will visit CWPRS at the end of this month to discuss the issues and finalize the amended plan. “However, it will take about a month and a half to incorporate and finalize these changes,” the official added.

To be constructed between Delhi and Noida, the six-lane bridge has already been approved by the CWPRS Pune. A consultant has also been appointed. To be constructed at a cost of around Rs 450 crore, the proposed 575m bridge will be ready within two years from when construction begins. The parallel bridge was proposed in 2010 to reduce traffic chaos at Okhla Barrage.

The Authority finally approved the construction work in February 2011. At present, the existing four lane Kalindi Kunj Bridge is the only link between Noida and south Delhi. Owing to the consistent increase in traffic over the years, the narrow bridge that nearly 1.5 lakh vehicles each day, the stretch witnesses regular traffic jams and has turned into a motorist’s nightmare.

http://timesofindia.indiatimes.com/city/noida/Change-in-location-plans-to-delay-parallel-bridge-to-Okhla-Barrage/articleshow/19921881.cms

Underpass to end congestion at busy City Center junction

NOIDA: The Noida Authority has finally opened the financial bids for construction of the proposed underpass at the busy City Center junction. Construction work is slated to begin in June.

The underpass is Noida Authority’s attempt to streamline traffic movement along the busy Master Plan Road-III and to ensure signal-free movement towards Greater Noida West (Noida Extension). Tender proceedings for construction of the underpass at Sector 32-Sector 35 crossing are likely to be wrapped up by next month following which work will begin.

The underpass that will come up at the Sectors 35-51 and Sectors 39-32 junction, on the road between NTPC junction and Sector 39, will be constructed at a cost of Rs 50 crore. To prevent a pile-up on the stretch while work is underway, a double U-turn is already being built near Hoshiyarpur village.

The underpass will ease flow of traffic along Shivalik Marg going towards Dadri and will also allow signal-free movement along Captain Shashikant Marg towards Noida Extension.

Vehicles coming from Sector 71 will get seamless movement towards Golf course via City Center.

While the underpass at the City Center-Sector 32 junction has been in the pipeline since 2011, the design for the project was revised earlier last year. The design was finally approved by IIT-Delhi in January following which the Authority approved the budget allocation for the project.

“A traffic survey was conducted last year to identify arterial roads and stretches that see heavy traffic flow through the day. This helped us zero in on 16 points where new underpasses could be constructed to ease congestion. The City Center junction was one of the 16 spots and so we decided to construct the underpass without any further delay,” said an Authority official.

To ensure smooth traffic movement, the Authority has also begun work on the Detailed Project Reports of the remaining underpasses proposed on strategic routes across the city, including the stretch between Noida and Delhi (via Kalindi Kunj) and Noida and Ghaziabad (via NH-24). Estimates for the remaining underpasses are being prepared. The projects, estimated to cost over Rs 3,000 crore, are expected to take 18 to 24 months to get completed.

http://timesofindia.indiatimes.com/city/noida/Underpass-to-end-congestion-at-busy-City-Center-junction/articleshow/19748797.cms

Rainwater harvesting a must for all housing projects in Noida

NOIDA: Due to the rapidly depleting groundwater levels and the need to conserve it, Noida Authority has made it compulsory for all developmental and group housing projects to ensure proper rainwater harvesting systems before they apply for completion certificates. The planning department of the Authority has also made it mandatory for future allottees of group housing projects to submit affidavits of the rainwater systems to be installed at their sites before they are provided allotment letters.

Authority officials said that from now completion certificates would be issued to group housing projects only after it is found upon inspection that rainwater systems installed are working as per norms. “Site visits would be conducted by teams. Completion certificates will not be provided based simply on the fact that the project has a provision for such systems,” said a senior Authority official.

The decision has been taken following the rap by the National Green Tribunal for failing to conserve groundwater tables in the city. Extraction of groundwater for construction has already been halted since the last four months.

Besides, officials said existing projects will also be inspected by the Authority in a few days.

http://timesofindia.indiatimes.com/city/noida/Rainwater-harvesting-a-must-for-all-housing-projects-in-Noida/articleshow/19733274.cms

No transfers till decision on Noida plots, SC tells UP

Source: The Indian Express By: Utkarsh Anand Publish: 24-April-2013

UP-NCR to still remain an affordable housing hub

NOIDA: Even though housing projects in GautamBudhNagar have been battling various problems that have resulted due to the land row for an inordinate amount of time, the region has still managed to retain its affordable housing tag. Recently, the Greater Noida and Yamuna Expressway authorities released housing project forms for 12,000 flats and they have already been oversubscribed. Taking a cue from this, developers in the region have also started advertising their projects with full gusto.

The authorities have embraced the affordable housing concept to benefit middle-class homebuyers and the 12,000 flats will be constructed in the next three years. The budget of this ambitious project of the UP government is Rs 150 crore and the cost of each flat will be between Rs 6.5 lakh to Rs 8 lakh. “Land has been sanctioned and we have all the approvals needed for it. Work on the project is likely to begin shortly,” said Harish Verma, additional CEO, Greater Noida authority.

“There will be 7,000 flats in Greater Noida and another 5,000 in Yamuna Expressway area. We have identified Sector Mu-2 and Sector 10 in Greater Noida and Sector 18 in Yamuna Expressway region to be the affordable housing hubs,” said a senior official. The low-rise blocks will be equipped with state-of-the-art infrastructure and facilities like community centre, shopping complex, parking, kiosks, schools, nursing homes, playground and parks, claim officials.

Following the UP government’s footsteps, several private developers like Orris, Amarpali, Supertech, Wave Group, among others have decided on affordable housing units in Greater Noida, Ghaziabad and Yamuna Expressway belt.

“We launched affordable housing along Yamuna Expressway keeping the common people’s interests in mind. The flats will cost between Rs 14 lakh to Rs 40 lakh with areas between 525 sq feet and 1,550 sq feet,” said Amit Gupta, director, Orris infrastructure.

Wave City recently launched affordable housing costing between Rs 13 and 18 lakh. It sold 1,000 units within 3 days of the launch. “For an ideal city, a combination of luxury and affordable housing is required. Apart from that, affordable projects help in maintaining a cash flow due to large participation of buyers and help in fast delivery of the housing units,” said Anil Sharma, the newly-appointed president of CREDAI (NCR).

http://timesofindia.indiatimes.com/city/noida/UP-NCR-to-still-remain-an-affordable-housing-hub/articleshow/19641382.cms

Crackdown on land sharks to start soon

NOIDA: Concerned over massive encroachment of floodplains in the NCR, a high-level meeting was held in Noida Authority office on Monday in which officials decided to crack down on violators. Environmentalist SunitaNarain, environment pollution authority chairman BhureLal and senior police and administration officials of west UP, Delhi and other NCR towns also discussed ways to curb rising pollution levels. Noida Authority also assured that measures will be taken for providing parking facilities, promoting public transport and addressing traffic congestion issues.

On Monday, while reviewing existing systems in place in the twin cities, the Environment Pollution (Prevention and Control) Authority appointed by the apex court stressed on the deplorable medical waste disposal facilities and management in Noida and Ghaziabad. Apart from this, the pollution control body also directed the Authority not to damage parks for creating parking space.

“The Hindon and Yamuna floodplains are encroached on a large scale leading to ecological imbalance. Land sharks are encroaching floodplains and selling it as farms. There is an urgent need to control the menace,” an official said.

“Apart from river bed encroachment, We have asked officials concerned to carry out full drills to figure out the deficiencies in collecting, segregating, transportation, and disposing off etc. We have shared our literature with them (officials) so that they can better their method of disposing off medical waste, which can be a hazard if dumped untreated into soil,” the official added.

“Authorities should expedite work on the eastern peripheral road to ensure that traffic, which is not Delhi bound does not enter the capital and travels between NCR towns through peripheral roads. We hope the suggestions will be incorporated to ensure a safe environment for the future,” said Vijay Gupta, member Assocham.

The pollution body also directed both Noida and Ghaziabad officials to train staff in dealing with medical waste. “Both authorities and traffic police should ensure that traffic is disciplined at all congestion hotspots,” said an official. The pollution body also directed the Noida Authority to scrap all parking lots which lead to traffic jams on the city’s main roads.

http://timesofindia.indiatimes.com/city/noida/Crackdown-on-land-sharks-to-start-soon/articleshow/19687203.cms