Latest Property News on 'Noida'

Some Areas in Mumbai’s suburbs and Delhi could see a 10% Correction in Prices

Residential prices are expected to see a 5-15% decline in Gurgaon, Noida, Pune and Bangalore because of a surge in supply that outstrips demand in these overheated property markets, according to a report by Macquarie Research.

At present, prices in Gurgaon, Noida, Pune and Bangalore are between Rs3,500 and Rs7,500 per sq. ft. In South Mumbai, the limited scope for new supply will either see prices remaining flat or increasing by about 5%. This is however less than the 5-15% increase in prices the region has seen in the last 12 months. Read More »

Special Developments Zones being developed thru Greater Noida by TIDA

Taj-Express Industrial Development Authority (TIDA) is all set to develop a new township as special development zone (SDZ), along the non-stop 165 km long Taj Expressway. TIDA has invited applications for SDZ under open scheme. Land will be allotted in SDZ for core activities that include IT, industries, biotechnology, service sectors, commercial, residential and sports, according to the allocation policy. Explaining more about the on-going scheme, P K Agarwal, deputy chief executive officer, TIDA, says an application can be taken from the authority office by depositing a bank draft for Rs 1 lakh. And, additionally, the applicant has to pay Rs 1 crore, as security money, when submitting the duly filled in form. An applicant will be called for interview on the basis of merit. In the first phase of this project, from Greater Noida to Jewer, 35,000 hectare of land will be developed as special development zone. According to allocation policy, SDZ is split into morethan-1000 hectare, and the less-than-1000 hectare category.

Lalit Srivastava, chief executive officer, TIDA, says that the SDZ is located between the Yamuna and GT Road. It will have much bigger sectors compared to what places in Noida-Greater Noida can boast of. The Taj Expressway Zone (TEZ) will be developed in three phases. In phase one 35,000 hectare will be developed, which will stretch up to Jewar. Large projects that can not be accommodated in Noida or Greater Noida will come up here. There could, for instance, be an educational project. But, it will have to be large in area, say 1000 acres. This zone will include residential, industrial, institutional and commercial area. Read More »

Greater Noida is all set for Growth

The 23-km Express Highway between Noida and Greater Noida is the buzzword in the real estate industry today. The infrastructure project, which traverses across 40 sectors of Noida, has already started benefiting the properties spread over 321 hectares in Greater Noida.

Major residential developments coming up given the kind of positive picture being projected by real estate in Greater Noida, the country’s most prestigious names have launched huge residential projects in the city. Unitech has entered the market with two higher-end residential projects Unitech Grande and Unitech Cascades. Eldeco has also been developing a residential township spread over 18 acres, while Omaxe is also not lagging behind. The group is in fact targeting Non Resident Indians (NRIs) with its NRI City project, though their second project, Palm Greens, is also an upbeat one and comes under the luxury housing segment. Currently, there is not much sale of residential properties, but the long-term picture looks promising. Read More »

An Upside Down Club Coming to NCR

The NCR will soon boast of an upside down building. Looking at the building from outside, one could be forgiven for thinking the world has suddenly been inverted. The architectural marvel will be built by Meriton group at its up-market housing project, Orange County, in Indirapuram.

Director of Meriton Group, Avnish Agrawal, got the idea of constructing such a building when he went to the United States of America on a tour. Read More »

The Next Real Estate Boom Town: Greater Noida

Greater Noida will soon dethrone the king of real estate “Gurgaon” in the NCR region and take the hot seat. The Greater Noida Authority is revamping the civic amenities and other infrastructural facilities. Much awaited projects like the international airport at Jewar and 160-km long Noida-Agra Taj Expressway will help in the fast-track growth of the twin cities.

The twin cities offer an entire range of property-options to choose from. The development of Greater Noida Phase-II, spread over 55,000 hectares (which includes 1890 villages), will further lead to an expansion of these cities. The said phase would have 41% area earmarked for greenery, 12% for recreational facilities, 13% for residential, 2.5% commercial, 3.9% institutional and 18.9% devoted for the airport. Also, after completion, the 1483 km long Delhi-Mumbai Industrial Corridor will mark a watershed in connectivity. Read More »

Noida Invites Bids for Hotels Near Taj Expressway

Noida Authority has invited bids to set up nine hotels near the expressway being built to the Taj Mahal in Agra. The Noida authority plans to set up three 5-star hotels, two 4-star hotels and four 3-star hotels.

The authority has set a reserve price of 77,000 rupees ($1,919) a square meter (10.76 square feet) and will open the qualification bids on April 24. The plots for the five-star hotels have an area of 24,000 square meters, it said. Read More »

Omaxe to construct modern twin towers in Noida

Delhi based real estate developer Omaxe today announced to start a high end project with luxury apartments and penthouses in Noida by investing Rs 180 crore approximately.

The company would construct an area of 3 Lacs sq ft in the project named; Omaxe Twin Towers, which would be one of the tallest buildings in the NCR region. Read More »

BPTP says, “Price just right for Noida deal”

BPTP Group, a Delhi-based real estate developer, said the price it paid for the Noida property i.e. Rs 130,207 per square meter, is reasonable and was thought through. “We had decided on the amount well before, it was not a knee-jerk reaction to compete with other bidders (such as DLF). The location, infrastructure and connectivity makes it an ideal commercial place,” director Sudhanshu Tripathi.

BPTP on Tuesday won the rights to develop 94 acres of commercial land at Noida, in the National Capital Region, by outbidding the country’s largest realtor DLF Ltd, which offered Rs 1,17,000 per square metre, and Omaxe, which bid Rs 80,100 per square metre. Read More »

Bahrain real estate firm acquires 49% stake in Noida IT park

Bahrain-based real estate firm Acacia Real Estate acquired 49% stake in Logix TechnoPark, Noida for USD 69 million.

Acacia Real Estate is a company spearheaded by Bahrain-based TAIB Bank, which is also the exclusive placement agent for the project. It has brought in the foreign direct investment to the real estate developer. Read More »

Noida Raises Circle Rates

The recent rise of around 40-45% in circle rates for land in Noida can bring down the number of land transactions in the city, thereby crippling the already suffering property sellers there.

Recently, Noida has announced an increase in its own sector rates, which is believed to be the only reason for the hike in circle rates by the district administration, says a revenue department official. Read More »