Long street to 100 Smart Cities of India

Budget 2014 has laid out a guide to the Prime Minister's vision of creating 100 Smart Cities. In his discourse, the Finance Minister, Arun Jaitley said that these Smart Cities will be produced as satellite towns of bigger urban areas and modernizing the current fair sized urban areas.

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Jaitley additionally highlighted the need to make the foundation of the current urban areas strong by making procurement for safe drinking water and sewage administration, utilization of reused water for developing natural products of the soil, robust waste administration, great base and advanced network through metro rail and light rail frameworks through the Public Private Partnership (PPP) model.

Financing

With a specific end goal to change over the current Indian urban communities to Smart Cities, the legislature has given numerous roads to raise stores. These incorporate Rs 7,060 crore in the current monetary as seed subsidizing from plan distribution. To support improvement of the Smart Cities, prerequisite of the manufactured up zone and capital conditions for FDI have been decreased from 50,000 sq m to 20,000 sq m and from USD 10 million to USD 5 million, individually, with a three year post-finishing lock-in period.

For the existing urban areas of the country, the financial backing proposes to raise the essential of Pooled Municipal Debt Obligation Facility from Rs 5,000 crore to Rs 50,000 crore with the augmentation of the office by five years to March 31, 2019. Additionally, the arranging of metro ventures for real estate in India for each city of India with more than two million populace has likewise been proposed.

Mechanical Smart Cities

The administration has spelt out certain travel passages along which the Smart Cities will develop. The Amritsar-Kolkata Industrial expert arranging will be finished speedily for the foundation of the modern brilliant urban communities in seven states of India. The arranging of three new Smart Cities in the Chennai-Bangalore Industrial Corridor locale, viz., Ponneri in Tamil Nadu, Krishnapatnam in Andhra Pradesh and Tumkur in Karnataka will likewise be finished.

The Bangalore-Mumbai Economic hall (BMEC) and Vishakhapatnam-Chennai passageway would additionally be finished with the procurement for 20 new mechanical groups.

Why Smart Cities?

The motivation behind why India is pursuing the fantasy of 100 Smart Cities was likewise spelt out by the account clergyman. While tabling the financial backing, he said, "As the apples and oranges of improvement achieve an inexorably expansive number of individuals, the pace of relocation from the provincial zones to the urban areas is expanding. A neo-working class is developing which has the desire of better living principles. Unless, new urban communities are produced to oblige the blossoming number of individuals, the current urban communities would soon get unacceptable".

On the other hand, the real estate players say that the focal government will need to set up a solid component to execute what they have begun.

Talking at a post-plan, Dr PR Swarup, executive general of Construction Industry Development Council (CIDC) said, "The seed has been sown, the vision is beat up, the goal is there and it is a welcome move. At the same time the genuine inquiry is the manner by which and when will this be actualized."

The introductory steps must be arranging and distinguishing the execution obligations. "The plan of this fantasy is still in the pipeline. ID, time-covering and meaning of the idea still stays to be executed. There is additionally an inquiry stamp on "how they will give 24×7 water and power, travel, employments, and so on," Swarup included.

"In particular, this idea can just take-off if there is an upfront investment from the states", clarified V Suresh, key official officer, HIRCO.

"The beginning cash of Rs 7,060 crore that has been apportioned to the idea is similar to a token cash. On the off chance that you partition it among the 100 urban areas, it grounds up to a small total of Rs 70 crore for every city, which is insufficient actually first off," says Swarup.

Navin Raheja, Chairman, National Real Estate Development Council (Naredco), noted that with this sort of vision, there will be a surplus of area issued for urban improvement and lodging. This will guarantee that with all the more supply, costs will be controlled.

"At present, due to absence of normal arranging and little term points of view, area use is sub-ideal. By authorizing area for arranged urban improvement and long haul 50-year plans, urban communities can constantly recover," included Raheja.

Right now, urbanization is restricted to a couple of urban areas and extensive financial pockets. Spreading them equitably around the nation respects control urban sprawl and will guarantee personal satisfaction in urban pockets.

While the aim of the administration behind the Smart Cities looks great, it stays to be perceived how this vision of PM Narendra Modi will get off the ground.

Rupee Thankfulness Pushes REALTY MARKET UP

ASHISH GUPTA clarifies the connection between the conversion scale and the property segment.  Remote natives of Indian starting point, whether inhabitant in India or abroad, can purchase property in India for their private reason. They are not needed to get consent from the Reserve Bank of India (RBI). 

As per the Foreign Exchange Management Act (FEMA), an Indian native who dwells outside India is allowed to procure property in India other than rural and estate property or a farmhouse.

Accordingly, a non-inhabitant Indian (NRI) has just about all the benefits that an occupant has with reference to Buy Real Estate Property in India.           

               

Throughout the last few years, there has been an extraordinary devaluation in the estimation of the rupee against remote monetary forms, basically the US dollar. A deteriorating rupee fuelled enthusiasm among Nris to put resources into realty in India.

The rupee almost touched 68 against a dollar, giving an impetus to Nris to transmit cash to India to contribute. The deterioration in the rupee made homes less expensive for Nris by up to 30%.

In this way, it was the ideal time for Nris to put resources into the Property in Delhi/NCR.

Nris put over $2 billion in Indian land in 2013, riding on the once again of a frail rupee. NRI financial gurus were more slanted towards India, as they would be paying less dollars to gain property than they would have prior.

For the last few weeks, the rupee has been through extensive gratefulness, and further fortifying could be relied upon in the days to come. Passing by the previous six months, with the rupee-dollar pattern and the shaping of a stable government at the Center, the rupee is required to solidify further and acknowledge from the current levels.

Case in point, on the off chance that a NRI had put $ 1,00,000 in purchasing a house in 2013, the swapping scale around then was Rs 65. Thus, he successfully contributed Rs 65 lakhs for the property.

In the event that the rupee acknowledges to Rs 55 for a dollar and he offers the prop erty at the same value, he gets $1.18 lakh.

In this way, the increases only from a trade transformation will be $18,182 or give or take 18% in a year. This does not consider capital thankfulness the extent that the property itself is concerned.

In this way, by simply timing the speculation choice right and leveraging on the conversion standard, one could have made a generous measure of cash. A stable government at the Center will enhance the financial estimation and dispense with arrangement loss of motion. This will give a push to base ventures.

A sharp gratefulness in the estimation of the rupee has been seen in the recent weeks, sponsored by a solid inflow of outside trade from remote speculators. The rupee has arrived at its most abnormal amount in the previous eight months.

The gratefulness in the estimation of the rupee is a positive sign for the economy. It is required to settle and get to be stronger by virtue of different macroeconomic variables. What's more, the gratefulness in the estimation of the rupee will help slender down the current record deficiency (CAD), the contrast in the middle of inflows and surges of remote trade. The Property in Delhi/NCR is likewise prone to profit from the gratefulness in the estimation of the rupee, because of diminished information expenses and other related costs.

Further, the acknowledging cash worth will help as far as lower unrefined petroleum costs and lessened import costs. A significant profit of the thankfulness in the rupee is the resulting lessening in the high swelling rate that is helping investors to Buy Real Estate Property. A lower expansion rate is relied upon to give the national bank some solace and help in moving the giving rates which are respectable at present. Lower investment rates unquestionably support the realty sector.

Residential, green homes along Yamuna Expressway-Just For You

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The Yamuna Expressway Industrial Development Authority (YEIDA) has propelled a nature's domain amicable moderate lodging extend in Sector 22d for center and lower-pay bunches. Since January, the power has begun distributing lofts to individuals in three lodging buildings sprawling over an aggregate of about 65 sections of land.

As indicated by authorities, the ownership of these 8,220 "green" pads in three lodging buildings will be given by 2016. "These homes will advertise wellbeing, ration characteristic assets, give simple access to administrations and the occupants will spare many rupees consistently in vitality costs,"

The multistorey condo that offers 2/3/4 BHK apartments in Yamuna Expressway , which will likewise have stilt stopping offices, will be accessible at competitive rates going from Rs 7.5 lakh for every unit for 1bhk to Rs 31 lakh for 2bhk. While two plans are shut, the third one is open for application. "In this plan, we have 1,850 1bhk pads costing Rs 11 lakh while the other 570 units are estimated at Rs 31 lakh in the 16-story assembling," the authority said.

Intended to get greatest daylight, 25% of the aggregate site zone has been held for green spaces. "The plans have been planned in such a path, to the point that the condo are moderate for individuals from all segments of public opinion. Property in Yamuna Expressway, including plots going between 30 sq.m to 100 sq.m are accessible for ownership," the YEIDA official said. The edifices will additionally have a group focuses, play areas, business spaces and nursery schools.

Having looked for Green Building Certification by Leed, the multistorey condo brag, including 2/3/4 bhk flats green gimmicks that incorporate high temperature reflective top paint for reflecting the sun powered radiation over to the environment, rainwater reaping framework, low-stream water installations introduced to preserve water, sewage medication plant to reuse the waste water and evaluated pumps and engines introduced to moderate vitality.

 "Extra peculiarities incorporate utilization of value single-coating unit glass having better warm properties, procurement for natural waste composter for changing over nourishment waste into fertilizer, smoking free regular regions," the authority said.

Delhi Development Authority to take off 'biggest perpetually' lodging plan by July end

The biggest regularly lodging plan of Delhi Development Authority will be taken off for city- tenants by July end, offering in excess of 26,000 pads crosswise over different classes with a large portion of them being assembled with "green innovation", a top official of the lodging body today said.

"We have 24,000 one-room lofts and an alternate 2000- 2,500 pads lined up in the DDA, 2014, lodging plan. The property in Delhi spreads crosswise over Rohini, Narela and Dwarka and will be evaluated from Rs 14-15 lakh to Rs 1 crore. Also, we ought to have the capacity to dispatch the biggest ever conspire by July-end," DDA bad habit executive Balvinder Kumar told PTI.

The abundantly anticipated plan comes four years after the DDA offered in excess of 16,000 pads in its 2010 plan.

"While 24,000 pads will be ease, the staying 2000- 2,500 pads will be accessible crosswise over residential property in Delhi that includes LIG, MIG and HIG classifications. We will soon hold a gathering to talk about whether the one-room pads would be made accessible to all or just to the financially frail.

Discussing the gimmicks of the pads, he said, "The majority of the 2/3/4 BHK apartments inDelhi are pre-assembled and have green peculiarities, utilized shockingly as a part of DDA houses.”

"They are constantly inherent agreement with the Master Plan Delhi, 2021."

A senior authority said the houses will be placed in Rohini, Narela and Dwarka and range from four-storeyed or more.

As per Kumar, "By July, 15,000 pads ought to be primed, an alternate real lump by December end and, at last, something like 1,000 will be  finished by March one year from now."

When the work is over, the pads would be made accessible to the petitioners through draw of parcels, he said.

In the interim, on the Kathputli Colony issue, Kumar said, "About 400-500 families have moved to the camp. We have effectively issued 700 slips to that impact."

Named after the bright group of puppeteers and craftsmen, Kathputli Colony is a slum bunch in West Delhi's Shadipur range lodging about 3,000 families who acquire their work by drilling their crafts.

These families, under the proposed arrangement - which is an open private-association (PPP) extend in the middle of DDA and Raheja Developers for their in-situ restoration - were to be moved to a travel camp at Anand Parbat until the houses were prepared in the state.

There were reports that a few families had declined to move from the state as they discovered the new, proposed residential property in Delhi, unacceptable to the way of their work, which included outside exercises.

"The vast majority of the families need to movement and it is just a handful of them with some personal stake who are contradicting it," a senior DDA official said.

On the landfill locales for overseeing robust waste in the city, Kumar said that eight new landfill destinations have been recognized by DDA which could be i

Delhi/NCR Bachelors, the most keen buyers

It is usually said that if you want to master any art form, start young. Well, some youngsters in Delhi NCR have taken this adage to the property business. As per a recent survey, entitled ‘Are you a first time home buyer?’, Delhi/NCR  have the highest number of single property buyers!

The survey intended to find the preferences of first time home buyers, who are looking for 2/3/4 BHK apartments in Delhi. It indicated that more than 35 per cent of the single first time home buyers were either from Delhi /NCR.

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“Youngsters, particularly single professionals, indulging in property purchase is rare. However, the fact that the maximum number of these professionals are based in Delhi/NCR  does not come as a surprise. These are the IT professionals in these cities who earn well and are living away from their home towns,” says Mohd Rashid, Citi Propmart Pvt Ltd.

They prefer to pay EMIs than spend huge amount of money on monthly rent, adds Rashid. The survey stats also indicate the same sentiment with 40 per cent of these buyers in Delhi/NCR claiming the same.

So, what do these single professionals aim at buying? Slightly over 50 per cent of these buyers were interested in property in Delhi/NCR within a range of Rs 20-40 lakh while approximately 30 per cent were looking for builder floors.

So, even though single property buyers still form a very small percentage of the total property buyers in the country, the numbers are definitely growing. Delhi/ NCR seem to have set the trend for others to follow.

 "Youths ought to attempt and put resources into a little property to launch their venture portfolios. For self-utilization they ought to try for flats and for venture they ought to pick plots."

Are you a single professional in these cities waiting for the right time to buyreal estate property? As someone once said, ‘do not wait as the right time to buy property is ‘now’.

Make a sound investment by buying best real estate property

In spite of the fact that one can't make land speculations totally hazard free, purchasers must be mindful of the pitfalls that lie headed straight toward putting resources into steadfast property.

In the event that you are the first to buy real estate property, you must take the best mind in gathering all the in creation you can about your buy.

Right from the essential realities like status of the social and physical base of the zone to the lawful and fiscal issues that include paperwork and let you know about shrouded expenses and the genuine outgo from your pocket. In the event that you arrange your buy carefully and gather all the data industriously, purchasing best real estate property would be a productive activity.

Before purchasing a property, one must check the foundation of the venture's engineer -expanding success and disposable salaries among individuals has raised the interest for lodging extensively and, with made designers not ready to take care of the demand, numerous artificial engineers and developers have mushroomed in the business sector. These elements use substandard material; frequently finish and handover pads without all the licenses set up, and basically put a vanishing demonstration when things get sticky.

Legitimate personal verifications must be carried out on engineers whose undertakings interest you; for instance, you must visit the past tasks of these designers and fulfill yourself about the standard of development there, actually conversing with a couple of occupants there about their personal satisfaction.

Now and again, purchasers, even engineers, have a tendency to overlook the documentation needed at the time of sale property, which is a dangerous recommendation if one were to attempt and offer the property at a later stage.

Fitting documentation is an unquestionable requirement while putting resources into area or any viable steady property.

 As indicated by the UP Apartment Act, designers and manufacturers need to submit the complete DPR (nitty gritty venture report) to the powers concerned. Consequently, purchasers and financial gurus must approach the designer for the design arrangements sanction by the power, the way of fittings and apparatuses to be utilized within the structures, area titles, and points of interest of proprietorship and offices in the event of encumbrances.

Engineers are likewise needed to indicate the conceivable date of task conveyance, other than the punishment they would need to pay to purchasers in the occasion of deferral. One ought to likewise enquire from the engineers about the banks that give advances to the task.

When you have the arrangement of banks that endorse home advances for a specific venture, you must visit them and figure out the money related subtle elements of the engineer and the status of the undertaking. Indeed, it is best to strive for an undertaking where a few banks are giving home credits. Banks won't authorize home credits against any extend that is suspect.

Emulating these essential steps will doubtlessly guarantee the security of your speculation of real estate property. 

Young buyers enthusiastic to buy real estate property in Gurgaon

Youthful purchasers/financial specialists matured somewhere around 25 and 29 years are most hopeful about property inGurgaon.  

Gurgaon is presumably one of the quickest developing land showcases in India today. It has developed on the once more of the IT upset that hit the city a few years prior. It may not be right to expect that the IT experts have given the best impulse to the private business of the city.

Weigh out real estate in Gurgaon

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Thus, it doesn't come as an amaze that youths are more hopeful about the business sector getting pace within a brief span of time.

According to the most recent version of the survey, purchasers in the age gathering of 25-29 years have the most astounding HSI (136). Then again, purchasers in the age gathering of 40-49 years showed a HSI of only 80. This demonstrates that the more youthful parcel are more positive about the business sector and anticipate that costs of residential property in Gurgaon will climb in Gurgaon instead of the more established era.

Know all the more about Gurgaon

Vijender Singh, executive, 99estate.com likewise feels that young people are driving the Gurgaon private business to buy real estate property. Notwithstanding, he feels that purchasers in the age gathering of 30-35 are more eager to purchase property for themselves than the individuals who are more youthful. "I get greatest customers inside this age bunch. Those between the age gathering of 25-29 are typically fiscally reliant on their guardians."

He proceeds, "More or less, 60-70 for every penny of genuine transactions are made by purchasers in the age gathering of 30-35 years and working in the numerous IT organizations of Gurgaon."

Thus, what are these purchasers searching for? "These purchasers typically request 3bhk units inside a financial plan extent of Rs 80-90 lakh. Therefore, to match their financial plan prerequisites they settle for under-development property instead of a prepared loft," says Gaurav Tanwar of Group 3 Realtors Pvt Ltd.

The inspiration showed by these youthful purchasers has given resurgence to the business sector which was going underground without political steadiness. "Enquiries have gotten in the most recent one month. The majority of these enquiries are originating from junior purchasers," states Singh.

In any case it needs to be checked whether the energy of the young people would scatter amongst the more seasoned era, now that we have a legislature. In any case, we do realize that the young people are idealistic about the Gurgaon market.

Make an investment in the emerging corridors of Delhi/NCR

With the emerging requirement of property in Delhi/NCR, Noida, Ghaziabad and Gurgaon have seen the steady growth of residential as well as commercial property. As these places have been developed, the action is now shifting to other regions in the NCR. 

According to SANJEEV SINHA, “Affordable property prices, proximity to the national capital, fast-developing infrastructure, and the availability of spacious and quality residential units are the key factors driving the growth of satellite towns and other suburbs of the NCR.

Also, rocketing real estate property prices in Delhi, Gurgaon, and Noida combined with a shortage of housing units to accommodate the fast growing migrant population, has propelled the real estate market in these suburbs and satellite towns.”

Amit Mavi, the MD of a real estate consultancy, says: “The real estate sector in the national capital region has undergone a sea change in the last decade. Disparity in the demand-supply equation in the past has been the chief catalyst for the emergence of new corridors in the region, which resulted in the inclusion of new urban agglomerations to keep pace with the rising demand for real estate asset classes. The new master plans are also a reflection of the same phenomenon.”

 Some of the hotspots that have fast emerged as the nerve centre of future growth and real estate development in the NCR includes: 

·         Noida-Greater Noida Expressway

The location has emerged as a big residential as well as commercial destination for investors as well as developers. In this region, there is also tremendous potential for the growth of hospitals, hotels, retail outlets, educational institutions and much more.

“Rents and values of commercial properties in this region still continue to be low compared to other commercial districts in the NCR, making it an attractive proposition for corporates. And, as the migration intensifies, it will provide the necessary impetus for the demand and growth of other asset classes,” Mavi says.

The connectivity to Greater Noida Extension has improved that is likely to provide the necessary momentum for this corridor. Since the time, Yamuna Expressway has been made operational the region has seen a leap in the traffic inflows from different neighbouring cities to the NCR.

“This will further enhance the connectivity of the major cities of the state to the national capital that will be routed through Noida-Greater Noida Expressway. FNG (FaridabadNoida-Ghaziabad) Expressway will cut across Noida-Greater Noida Expressway and will enhance connectivity to the adjacent cities and add to the momentum,” Mavi says.

·         NH-24

NH-24 that is running through Ghaziabad is fast emerging with the state-of-the-art infrastructure in place. In the present scenario, places like Indirapuram, Vaishali and Kaushambi have posh residential colonies that are offering premium living conditions.

·         Bhiwadi

Bhiwadi has emerged as a perfect combination of both with the town and nearby areas shaping up as commercial and industrial hubs.

Other hotspots: In addition to these, there are some other places which are fast emerging as hotspots in the Delhi NCR. These include Greater Faridabad, Dwarka Expressway and Yamuna Expressway. All these places are becoming the major real estate property for investors as well as builders. 

Points that should be considered while buying real estate property

Tips on searching for properties online

Some years ago, the only approach for prospective homebuyers to find a suitable real estate property was to contact a broker. However, thanks to the internet, many homebuyers prefer shortlisting their options online. Of course, personal inspection of a property is still necessary before the final purchase.

Today, more and more people looking for flats begin their hunt online. Best real estate websites are replete with information on newly constructed and under-construction projects across cities. Property portals also provide information on options available in a certain location, the unique aspects of the area and the India property pricing trends.

However, relying solely on property marketing portals is a mistake. The information they provide can be incomplete and sometimes even misleading, says Kishor Pate, CMD, Amit Enterprises Housing Ltd.

For instance, most home seekers scanning the internet are often looking for the cost advantage of investing in an under-construction project. Naturally, the primary search parameter tends to be the price. However, internet searches based solely on price, city and location can generate insufficient and skewed results.

Homebuyers should be aware that while buyingproperty in an under-construction project by a reputed and well-funded developer is safe, an incomplete project by an unknown builder does not offer such assurance. Also, a well-known developer’s reputation is a safety stamp for construction quality and good internal fittings.

Property listings posted by individual brokers dealing in all sorts of projects usually do not provide this vital information. After all, disclosing details such as name of the project and its developer would kill their marketing advantage. However, it is necessary to know these details before one can shortlist options based on quality, investment, safety as well as price.

There are, of course, exceptions to this information gap. For instance, many large real estate brokerages have exclusive project marketing mandates with reputable real estate developers. Property listings by such brokerages do tend to provide all the necessary details.

Real estate marketing portal listings are usually the first search results to show up during an online property search. This is because these platforms invest heavily in search engine optimization to attract internet traffic. However, no online search for an under-construction property is complete on the basis of just these results. Aspiring buyers also need to visit the websites of reputed developers.

Investors want to invest in Residential Property in Noida

After the Noida Authority’s announcement that owners of institutional plots could sell portions of their land for residential use earlier this month, city-based industrialists have demanded that residential plots within sectors of industrial units be reserved for them.

The Authority had taken the decision to help increase housing projects in the region.

In a letter addressed to Authority chairman Rama Raman, the Noida Entrepreneurs’ Association (NEA) mentioned that the establishment of Noida was primarily meant to encourage industries. For the purpose, industrialists had been promised residential plots. “But even after so many years, the promise remains unfulfilled. We demand that the Authority roll out a scheme to reserve residential plots for industrialists at the earliest,” said Vipin Malhan president NEA.

Malhan further said that just like the Authority had recently sanctioned a percentage of land in institutional plots to be converted into residential areas, it should issue similar increase in the FAR (floor area ratio) of industrial units so that a certain percentage of land can be used to provide residential property.

The NEA also demanded that instead of allotting further plots to builders, the Noida Authority should first launch a scheme wherein residential plots for industrialists are reserved. ‘Until such a scheme is launched, we demand that the Authority allow a certain percentage of industrial units to be converted for residential use so that industrialists can carry out their business without any hindrance,” said Malhan.

Buy real estate property in Modi’s rule

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The real estate sector has been yearning for the industry status for long now. After facing disappointment time and again, the sector now expects this move from the new government, which in most probabilities is going to be the NDA-led government. 

Real estate market has suffered a lot, lately due to the uncertain political environment surfacing the country. However, after waiting much, Narendra Modi is emerging as the next prime minister of India after garnering majority votes. The advantage is that 2014’s NDA-led government is touted to be one of the most stable governments after almost two decades.

With the obvious election results yet to be announced, the industry has already started pouring in its expectations on considerable attention to be given to the real estate sector. Pradeep Jain, chairman, Parsvnath Developers Ltd says, “We expect the new government would ensure industry status to the real estate sector which will ease the inflow of funds.”

The benefits of industry status to the real estatesector are recognised as apart from availability and inflow of funds, the move will also ensure a better regulated framework and increased transparency in the business due to government’s intervention.

It is expected that Modi’s government would work towards country’s economic stability and would    reboot the regulatory framework surrounding real estate and put a mechanism for fast-tracking the process of developing projects. This is turn would boost the confidence of stakeholders in the real estate industry.

While the industry is pinning many hopes to the new government, it is ready to accept its own responsibility towards the sector’s growth.  With positivity and optimism pouring in from all directions, the real estate sector is definitely looking on to a change for the better. It’s for time to tell. Lets’ wait and watch!

Affordable Real Estate Property in Delhi/NCR

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Affordable real estate property prices, proximity to the national capital, fast-developing infrastructure and the availability of spacious and quality residential units are the key factors driving the growth of satellite towns and other suburbs of the NCR.

Also, rocketing property prices in Delhi, Gurgaon, and Noida combined with a shortage of housing units to accommodate the fast growing migrant population, has propelled the real estate market in these suburbs and satellite towns. These locations mature, saturate, and get established with the development of physical and social infrastructure, the affordability factor diminishes rapidly forcing the masses to move further away from the national capital in search of their dream home or for investment purpose.

Noida-Greater Noida Expressway: This location has already emerged as the best real estate property. However, what is little known is the fact that Noida-Greater Noida Expressway also has a tremendous potential for the growth of other asset classes like hotels, hospitals, and retail outlets, which are still at a very nascent stage of development.

“Rents and values of commercial properties in this region still continue to be low compared to other commercial districts in the NCR, making it an attractive proposition for corporates.

Improved connectivity through the extension of Noida Metro line is likely to provide the necessary momentum for this corridor. The operational Yamuna Expressway has already seen a leap in the traffic inflows from various neighbouring cities to the NCR.

“This will further enhance the connectivity of the major cities of the state to the national capital that will be routed through Noida-Greater Noida Expressway. FNG (Faridabad-Noida-Ghaziabad) Expressway will cut across Noida-Greater Noida Expressway and will enhance connectivity to the adjacent cities and add to the momentum.”

In addition to these, there are some other places which are fast emerging as hotspots in the Delhi NCR. Dwarka Expressway, for instance, is one such region. “Price correction in the secondary market of projects under construction is an attractive proposition for homebuyers; there is also hope that the land acquisition issues hampering the completion of the expressway will be sorted out this year.”  

Greater Faridabad is another place, which is developing into a mega hub for residential and commercial projects; the biggest draw is that property here is still available at affordable rates.

“Located midway between Noida and Gurgaon, Greater Faridabad is set to benefit from the completion of FNG corridor, well-planned infrastructure, and an affordable market.”

Mega projects like the F1 race track and other forthcoming ones like the Jaypee Sports City project and the night safari park, will push the next wave of development, which will expand the city boundaries further.