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Why Sector 150 is Ideal For Investment

Why Sector 150 is Ideal For Investment

A slew of new infrastructure developments and residential projects in the sector offer good opportunity for aspiring home buyers. Here is a sneak peek into this fast-developing locality 

Despite the ups and downs in the real estate segment over the last two years, Noida is one of the few cities to beat this slump. Most visible growth is happening here around Greater Noida West and Noida Expressway. The property scenario in Sector 150 is buzzing with activity.

Noida Sector 150 is a locality where social infrastructure and real estate developments are on in full swing. Private developers like Godrej have announced their presence and initiated projects here in association with Lotus Greens. Lotus acquired 300 acres in 2014 for its ambitious realty project. Since then, several property developers have come up and launched residential and commercial property in the sector.

Sector 150 –Overview        

Sector 150 has about 1,100 acres of land bank out of which 600 acres has been planned for development. Developing as an illustrative green sector, the Noida development authority has dedicated 80% of the total land area as green cover just restricting the construction to the left 20%. Apart from these, the authority has decided to develop a 42-acre theme park, supposed to be one of the biggest in the country.

Sector 150 highlights:

-Set to become the first green sector of NCR circuit

-Intended to be developed as NCR’s first overhead wire-free zone

-Proposed metro corridor of Greater Noida-Dwarka will pass through sector 150

-75-metre wide road from Noida to Greater Expressway will pass through Sector 150 and will further connect to the Faridabad

-Mega sports township,  sprawling over 500 acres of prime land with 80% green cover is proposed here

-Hassle-free connectivity to Delhi, Greater Noida and Faridabad

-Junction of four expressways – Yamuna Expressway, Noida Expressway, FNG and Eastern Peripheral Expressway

-Top 10 biggest cricket stadiums of India (capacity- 50,000 seats) will be built in the vicinity

-Reputed hospitals, schools and universities planned in proximity

What makes Sector 150 an ideal location?

This sector falls under special economic zone as it is strategically located in proximity to Pari Chowk, Formula 1 Race Track, Night Safari, Gautam Budh University and Yamuna Expressway. The Faridabad-Noida-Ghaziabad expressway provides fast connectivity too. The sector will gain the advantage of proposed metro link to pass through it. This will give momentum to the forthcoming and launched real estate projects in the locality.

Noida Authority has also approved a 500-acre sports city in Sector 150. The greenest sector of the NCR circuit will have massive green patch almost of 80% of the total land bank.

Upcoming social infrastructure developments:

In order to cut travel time from Kalindi Kunj to Greater Noida, Noida Authority has approved a flyover that will be constructed from the 45 meter road in Sector 150 to connect with Noida-Greater-Noida Expressway.

Builders’ arena

Many leading realty developers such as Lotus Greens, ATS, ACE, Logix, Mahagun, Sethi and Antriksh are developing green and low-density projects to promote here.

Top realty projects to invest in Sector 150

ATS Pristine | Mahagun Meadows | ACE Golfshire | Logix Neo World | Antriksh The Golf Address | Lotus Tulip Sports City

Property prices

In 2011, the property rates here were between the range of Rs 2,700 and 3,300 per sq ft. Presently, these prices have gone up and ranging between Rs 3,900 per sq. ft. and 4,500 per sq ft.

Real Estate Act Will Improve Buyer Sentiment

Real Estate Act (RERA) Will Improve Buyer Sentiment

Real Estate (Regulation & Development) Act 2016 will boost the morale and confidence of home buyers and will also enhance the credibility of builders, say realtors

The much awaited Real Estate (Regulation & Development) Act 2016 (RERA) has finally been implemented. The Bill was first proposed eight years ago. Since then it was stuck in the parliamentary proceedings. RERA will ensure regulatory mechanism for orderly growth of the Indian real estate sector.

The new Act also ensures to protect interests of home buyers and brings in liquidity in the real estate sector. It will fix developers’ accountability towards the affiliate authority.

The transactions in real estate and their respective proceedings involve lot of complexity and legal formalities. There has been many significant cases when commitment given by the builder was disrespected or possession dates were delayed. Builders could not be made accountable because of lack of any registered law.

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This is when RERA will step in tobring transparency in the sector.

The registration of developers as well as real estate brokers has now been made mandatory and they are supposed to upload the project details on authority website or either disclose projects the detail to buyers.

Blueprint of the Act

State-level Regulatory Authority – The Act directs all states and union territories (except Jammu & Kashmir) to set up Real Estate Regulatory Authorities (RERAs) within one year of notification.

Registration (Section 20) – The Act chiefly entails that developers will have to register themselves with RERA and projects details like proposed area, number of towers and date of completion are made public.

Declaration – The Act requires mandate disclosures of the project and promoters with self-declared project completion timeline which is made publicly accessible.

The entire process will set transparency in the real estate market and hopefully restore the trust of the buyers.

Industry speak

The Act will make realty sector more institutionalised and benefit organised players. The shorter timelines for a given project will ensure speedy and more stringent completion. Government authorities should also be made accountable for time-bound approvals,” says Dr Anil Jindal, chairman, SRS Group.

“It is important that the Act is a balanced version which is agreed upon by both buyers as well as builders. It is also of prominence to fix the accountability of approving authorities. The government processes involved in getting permission at times lead to delays in possession. Single-window clearance mechanism can be of great help in solving the problem of delay in possession. Such a system would also bring in accountability and transparency into the market and boost consumer sentiment and demand,” says Manoj Gaur, managing director of Gaursons India & president, CREDAI NCR.

According to Gaurav Gupta, general secretary, CREDAI-RNE chapter, “The Act has not taken into account the costs of project clearances and sudden market price surges of construction material or labour. The issue of single-window clearance has not been taken into account. It is also important that both the central and state governments jointly address the working of this sector to make it less bureaucratic and fairer. The Act could moreover bring ambiguity in provisions based on state laws and practices. There are some states which already have laws related to real estate. New regulator overriding the existing rules in these states may lead to conflicts in future.”.

“The Act is of great benefit to home buyers but then it still leaves room open for some unforeseen problems. The clause to keep 70% amount in escrow accounts is not rational according to many critics as this amount should have been fixed according to size of projects. However, this might have a short-term effect till the time developers have better structured financing options. Single-window clearance and rational grading of developers has become the need of the hour to help create an environment of quality in the sector. The Act however would promote fair play in the realty market with a better working environment for the entire sector. Buyer’s sentiments would improve significantly and industry will also grow with full confidence. With this we can expect that delays will be restricted and home buyers will get their homes within the committed time,” says Prashant Tiwari, chairman, Prateek Group.

 

House and keys

5 Things To Know While Transferring Property

  • Decide transfer type: Property can be transferred in various ways like sale, gift, will, lease etc.
  • Know the Act: Property Act 1882 is applicable when transfering property, know it well. 
  • Complete the deed : The deed must state what was given or paid (called consideration) for the property.
  • Sign in front of notary: The deed must be acknowledged before a public notary .
  • Keep the records – Registration papers are valid legal papers, keep them safe

Man's Hands Signing Document 3

deed 4 5

industrial land

Greater Noida To Make Industrial Land Allotment online

The Greater Noida authority will soon start its online procedure for industrial land allotment in the region. The trials have already been launched from April 30.

The Greater Noida Development Authority (GNIDA) has decided to open its online application process for industrial land allotment in Greater Noida. The initiative will help potential investors to access the allotment forms from anywhere in the world. The online service aims to ensure hassle free, speed, effectiveness and transparency in the entire process.

The trials have already been launched for the online facility from April 30, after which the process will be available online for prospective allottees from May 3. The online procedure will also feature online payments apart from GIS-based real time mapping for locating available plots in the city.

According to sources, GNIDA will also offer online approval of sanction of layout plans for residential, industrial and institutional plots in the next phase of online services.  More>>

 

spectrum

Guide to Noida’s Commercial Realty Market

Commercial property in the Noida market is upbeat even in a lean market and is offering good returns to both investors and buyers.

The residential real estate market in Noida may be reeling under tough times but the commercial and office space segment have beaten this slump and are promising investment returns.

Promising factors

Sectors 15, 16, 18, 25, 32 and 62 have seen infrastructure developments at fast pace, grabbing the attention of many potential investors. These sectors either have existing metro connectivity or are located next to proposed metro corridor and have become hotspot for residential and commercial activity.

Noida enjoys great connectivity with Delhi, being only 3.5 km away via DND flyover. Mahamaya flyover is a boon to Noida as it connects all prominent roads in Noida to Delhi. The excellent connectivity offers huge potential for real estate development in the upcoming sectors of Noida and further to Noida Extension.

“World class commercial projects- both existing and under-construction – have changed the face of Noida’s real estate market”, says a shop owner at Noida’s Sector 18 market.

As per the Noida Master Plan 2031, Sectors 32 and 25A have been allotted 98 hectares of land to develop commercial city centers and few other sub-district centres. Sector 18 is already developed as major commercial area in about 35 hectares. Sector level shopping centres and local level convenient shopping centres have been developed almost in all the sectors of Noida.

Realty projects 

Sector 18 is dotted with several existing and upcoming entertainment zones, shopping malls, commercial complexes and eating zones. The area has the presence of some top-notch realty developers like Wave Infratech, DLF, 3C Group and Unitech.

Wave One- a 41 story commercial complex situated in the core sector of Sector-18 is an iconic structure of the area. “The project is set to offer retail shops, office spaces, modern entertainment and leisure. The minimum investments starts with Rs 65 lakh. The venture is likely to be completed by December 2017”, says an executive at Wave Infratech.

The Iconic Corenthum is yet another major project by Beaver International situated at Sector 62, Noida. This tower is conceived to be 160-metres tall with roof top sky deck for a 360 degree view of Noida. The ultra-modern commercial building offers high rise office space and retail spaces.

“When real estate market is going through a consolidation phase, it is wise to make investment in commercial real estate that will prove immensely fruitful for both who are looking to reap regular monthly income out of leasing their commercial property or those who want to use the space for their own business and saving monthly rate”, says Karishma Gogia, marketing deputy manager, Neobrix Consulting.

“Spectrum @ Metro is new upcoming commercial complex situated at Noida sector 75. The complex will be built over 15 acres of land out of which 6 acres have been launched in first phase with four commercial towers. The venture offers retail shops and office space sizes between 2,000 sq ft to 10,000 sq ft. There will be hypermarket inside the campus for which 98,000 sq ft. have been already allotted. The shopping mall will have a mega screen multiplexes, many brands retail shops and anchor stores that will cater the needs of more 1.25 lakh people living in the nearby area”, says Malay Ranjan, deputy general manager of Neobrix.

ghaziabad-metro

Metro Connectivity To Boost Ghaziabad Realty

While transportation and connectivity to the city is set to become easier, the impact on the Ghaziabad realty market is expected to be even more pronounced.

Infrastructure development – and particularly one related to transportation – always brings positive impact to the capital value of the property market. This time, it’s happening to Ghaziabad and the city’s realty market is set to ride on metro rail connectivity. The demand for both residential and commercial properties in the city is likely to increase.

Metro hotspots

The under-construction 9.41-km long metro route from Dilshad Garden to New bus stand has spread cheer in the realty market. The construction work is likely to be completed by December 2017. Mohan Nagar has been proposed as a major hub to connect various metro stations in the city.

Recently, the Ghaziabad Development Authority (GDA) has cleared a proposal for extending Noida’s under-construction sector 62 Metro line to Indirapuram in Ghaziabad.

The proposed Indirapuram metro line will be further stretched towards Kanawani, Vasundhara and Mohan Nagar. Similarly, the GDA has proposed extension of 2.57 km Anand Vihar to Vaishali metro line over Link Road towards Vasundhara.

Mr. Manoj Gaur, MD, Gaursons India Ltd._c“The proposal to extend the metro route is a blessing for the commuters as well as real estate market where new metro stations are being planned. In areas close to metro the most visible effect is better demand for properties. Constant rise in value is seen in properties lying close to metro corridors. Population density also increases in all the areas lying near the metro routes. Areas nearby metro corridors enjoy an edge over other areas both in terms of better demand for properties and travelling time & cost advantages. Metro extension to NCR regions has made these real estate markets more attractive for home buyers and investors”, says Manoj Gaur, managing director of Gaursons India, & president, CREDAI NCR.
Experts are of the opinion that prices of the property may boost up which are lying in proximity to the metro corridor.

“In terms of social and life style amenities, Ghaziabad scores high as the place boasts of good infrastructure, residential and commercial spaces, townships, skyscrappers, shopping malls, road and rail networks etc. The expansion of metro will be big cheer for the realty market here. Though completion may take some time, lakhs of daily commuters will be benefited once it is completed. Property prices are already booming in Ghaziabad and with the coming of metro the areas nearby the metro corridors will see a skyrocketing shift in property prices”, says Gaur.

Mr. Gaurav Gupta,General Secretary, CREDAI Raj Nagar ExtensionAccording to Gaurav Gupta, general secretary of CREDAI-RNE chapter, “The extension of metro line to regions like Mohan Nagar, Indirapuram and Noida Sector-62 will have a direct and powerful impact on the real estate of all the regions lying near these metro corridors. Not just residential but demand for commercial spaces also increases around the metro stations. As per the proposals, Mohan Nagar would be the biggest change over junction. Region like Raj Nagar Extension would greatly benefit with this as people can commute to different routes from here. Another area like Vasundhra will enjoy metro connectivity via metro station which will be coming up at Indirapuram and Sector-62. Convenience of commuting to different routes and reduced travel costs are some of the advantages which will have a positive impact on the real estate growth of these regions”.

Indirapuram, which is already developed area is likely to see some new launches. You could observe a massive increase in prices over last couple of years. Presently  the residential properties are available in the price range of Rs 4,300 sq ft to Rs 6,600 sq ft.

“It is proven fact that good transit systems and connectivity options directly impact the real estate of any region. Land values increase and high demand for residential as well as commercial spaces is witnessed at places which are nearby metro stations. Regions like Siddhartha Vihar which are situated next to Indirapuram, even few kilometers away from metro stations will eventually see increased urban real estate values. The biggest benefit is ease of commuting and better connectivity to region. Moreover there is increased demand for retail and office spaces around the metro stations due to connectivity and ease of travelling”, says Prashant Tiwari, chairman of Prateek Group.

The average price of 3 BHK property varies from Rs 31 lakh (for 1125 sq ft unit) to Rs 1.02 crore (for 1873 sq ft unit). For a 2 BHK apartment, the average price ranges between Rs 25 lakh to Rs 60 lakh for about 925 sq ft to 1190 sq ft area. 

“Residential as well as commercial markets are set to take off in all such areas which are in close proximity to metro corridors”, says Tiwari.