With Aqua Line Metro corridor all set to start its operations for the commercial usage in next few days, the realty market of both Noida and Greater Noida will be going to see a steep jump in terms of property prices as well as residential launches in coming future. The 29.7 km Aqua line corridor will connect the twin cities of UP i.e. Noida and Greater Noida.
According to a latest report by a top real estate services and investment management firm, Noida has emerged as the third most sought-after commercial destination in India followed by Bengaluru and Hyderabad. The report released by Colliers International revealed that flourishing start-up culture, lower rentals, well-developed infrastructure, and improved connectivity have geared up the commercial real estate in Noida.
The report stated, “Noida registered 100 percent growth in the office space absorption in H1 2018 as compared to 2017. Close to 2 million sq ft of office leasing was recorded during the period. However, the figure is expected to grow to 3.5 million sq ft by the year-end.”
In a latest development, over 70% of the landowners agreed to give their land for the proposed Jewar International Airport. On Saturday, local MLA Dhirendra Singh said that they have got the consent of over 200 landowners which is more than what as per the provisions of Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013.
The Yamuna Expressway Industrial Development Area (YEIDA) has decided to conduct a feasibility study to connect the proposed Jewar International Airport and Delhi’s Indira Gandhi International airport via an elevated road. The Authority will float an e-tender to rope in a consultant for the study.
In order to provide a smooth connectivity between both the airports an elevated road is proposed which will be 40-kilometers in distance. The officials are also working on other alternative options like Rapid Rail Transport System (RRTS), Pod Taxi etc.
The Council of Ministers in UP cabinet gave the approval to float a joint venture company for the construction of Jewar airport which is proposed to be constructed in Jewar near Bulandshahr city.
This thumbs-up from the Uttar Pradesh cabinet is believed to be the final go-ahead in the entire subject matter. According to the Officials, the Joint Venture Company named Noida International Airport Limited is formed with the inclusion of three civic authorities that are Noida Authority, Greater Noida Industrial Development Authority [GNIDA] and Yamuna Expressway Industrial Development Authority [YEIDA]. The UP State Government also holds stake in this Joint Venture Company apart from these authorities.
The flat buyers of Noida-Greater Noida location have a reason to smile. As they will now receive the interest subsidy of 2.5lakh rupees on the home loan they avail under PMAY Scheme. This benefit is applicable only Middle-Income group [MIG].
The Ministry of Housing and Urban Development allotted necessary codes Noida-Greater Noida and the same have been forwarded to the Housing and Urban Development Corporation [HUDCO] and National Housing Bank [NHB]. The NHB is solely looking after the Pradhan Mantri Aawas Yojna i.e. PMAY Scheme. This decision will prove beneficial to several home buyers who come under MIG.
The 30km long Noida-Greater Noida Metro Link’s trail is going to commence in April. The NMRC – Noida Metro Rail Corporation confirms the trial of this long stretch after the UPPTCL i.e the Uttar Pradesh Power Transmission Corporation Limited gave its nod for the disbursal of electricity immediately.
The trial was scheduled to start in December 2017 but got delayed due to the insufficient power supply from UPPTCL that pushed the Noida-Greater Noida Metro Rail trial for the tenure of more than three months. Mr. PD Upadhyay, Executive Director, NMRC was quoted saying, “The UPPTCL has started supplying 400KV electricity supply from its Sector 148 power substation from February 28 to the 30km Noida-Greater Noida Metro link. UPPTCL’s top officials have also conducted an inspection and written to their staff in Noida to immediately start power supply. It is good news because now, we can start trials on this Metro link in April and make way for commercial operations after completing the necessary formalities related to safety.”
When searching for an apartment, you have to take into account several factors like location, priority to parking, public transport, etc. All such factors are hugely important to find a perfect place. However, another secondary factor which will affect your day to day lifestyle is the floor that you live on. While plenty of options are available in a high-rise apartment, a low-rise building has its own charm and advantage.
A low-rise building has about 5 floors, maybe six sometimes. The first basic advantage of a low-rise building is low density, meaning fewer units per floor, giving you quiet surroundings to enjoy life privately. So you can live in a low-rise apartment complex, with elevator and 24/7 security system, with CCTV’s in all common areas. Low- rise also means low risk during fire or earthquakes; you can just run down the stairs. The building will be safer during natural calamity. [Read more…]
A larger part of the luxury housing segment in India is targeted at the High Net worth Individuals (HNI) and the upper middle class. The extremely high prices of these plush properties located in sophisticated areas makes it almost impossible for the middle income group to reach out there and buy the home they always dream of. In order to Buy Property in Mumbai, Noida or Bangalore, they have to spend a fortune. However, a new concept has been witnessed in the Indian real estate market known as ‘Affordable Luxury’. Developers have come up with this idea to help the middle class buyers achieve their aspirations of living in a luxury home.
Why Affordable Luxury Homes?
India is a vast country with innumerable diversities in terms of class and financial standing. Developers cannot focus only on the ultra-rich segment and therefore they are slowly moving towards the upper middle class who sure have aspirations to live in plush houses but might not be financially ready for it. These buyers are fairly high-salaried but do not rub shoulders with the ultra-rich class. [Read more…]