Ground realty: Low interest in real estate
F1 has certainly drawn attention to the infrastructure in Noida and Greater Noida.
Nov 01, 2013
Source : The Financial Express


DELHI: When the Indian Grand Prix was launched at the Buddh International Circuit (BIC) near Greater Noida in 2011, there was a lot of buzz in the realty market in the region. Two years down the line, the initial sheen seems to be fading, at least for the time being. This, despite the fact that the region has seen an appreciation of up to 30% in prices even after a slowdown in the sector.

Anil Kumar Sharma, CMD, Amrapali Group, and president, the Confederation of Real Estate Developers Association of India, Delhi-NCR chapter (CREDAI NCR), says, “Although the future seems to be bright for Yamuna Expressway, given the global landmark of F1, for the past one year, the response has been a bit low and muted as compared to the initial years.”

Developers say the major reason behind the poor response is the slow pace of connectivity and urban infrastructure development being initiated by the government. Coupled with this, even the land acquisition process in the area is yet to pick up, at least till the time the UP government streamlines its policies.

Pankaj Bajaj, managing director of Eldeco Group, and RK Arora, CMD of Supertech, told fe that the properties around the F1 track are a long-term bet for investors and end users. “The movement in the next two-three years will lead to a better scenario, but as of now, it is becoming a second choice for users who are unable to invest in Noida or Greater Noida,” they say.

“F1 has certainly drawn attention to the infrastructure in Noida and Greater Noida. The realty market in the region has fast emerged as a luxury destination and will show growth in the coming days with the changing economic scenario,” says Harpreet Singh Batra, MD, Imperia Structures.

But will it remain as bright, given that the future of F1 racing in the country is in doubt? Manish Agarwal, MD, Satya Group, and secretary, CREDAI NCR, doesn’t think so. “I don’t think it will change the ground reality even if the Indian Grand Prix doesn’t remain a part of the next year’s racing calendar. F1 itself is a great anchor for developers as returns will not come from the event, but out of the real estate monetisation of the township. With connectivity to Agra, which is a major tourist spot, and travel time being reduced considerably, the Yamuna Expressway has already attracted the interest of major developers,” says Agarwal, adding, “Three universities are already operational there and others are being planned. These will also go a long way in realising the area’s potential.”



Latest Realty News

CCI rejects complaint against Larsen & Toubro in realty case
Nov 01, 2013
DELHI: The Competition Commission has rejected allegations of anti-competitive ways against diversified group Larsen & Toubro with regard to a housing project in Bangalore as it found no evidence of unfair practices in the case.
New home launches up by 5% in January-September: Cushman & Wakefield
Nov 01, 2013
DELHI: India's eight major cities saw launch of 1.32 lakh homes during January-September 2013, up by five per cent from the year-ago period, according to global real estate consultant Cushman & Wakefield.
Investors land up at builder’s house, find him nowhere
Oct 31, 2013
GURGAON: A day after angry investors, who had booked flats in 'Cambrian Forest' housing project in Sector 95, gathered outside the police commissioner's office, 100 of them reached at the Faridabad house of the owner of SKM Refcon Pvt Ltd, only to find him missing.
New property tax segment for businessmen
Oct 31, 2013
GURGAON: Property tax calculations for commercial and industrial establishments such as hospitals, marriage and cinema halls, banks, restaurants and godowns are about to change with the MCG creating a special category for them.
Rate hike to dampen housing demand in festival season: Realtors
Oct 31, 2013
DELHI: Real Estate companies today expressed disappointment over the RBI's decision to hike the short-term lending rate, saying this could hurt economic growth and adversely impact property demand in the ongoing festival season.
Studio apartments emerging as a smart investment in Delhi/NCR
Oct 31, 2013
DELHI: Top realty players like DLF, JP Group, Wave Infratech, Paras Buildtech, Eldeco, Assotech Realty, Supertech, Amrapali, etc, are following in the footsteps of New York and London where fashion designers, musicians and artistes use such space for their studios. Professionals like lawyers, CAs, architects, doctors, etc, are now using them as smart offices, while corporate houses find these very convenient as guesthouses.
Landmark Holdings exits from Wave’s Ghaziabad project
Oct 31, 2013
DELHI: Delhi-based real estate investment firm Landmark Holdings has exited its investment in Wave Group’s 4,500 acre Hi Tech City project in Ghaziabad for approx Rs 350 crore making over 3x on its original investment.
Bhiwadi is the boomtown in the desert
Oct 30, 2013
DELHI: Bhiwadi, a typical Tier II city, promises value for money to investors and end users alike. The town is adequately equipped to handle the huge demand for affordable housing, coming from the work force employed in various industries here.
Worldwide achievers felicitated the winners of Real Estate Awards 2013
Oct 30, 2013
DELHI: Worldwide Achievers Real Estate Awards 2013 winner’s honoured by Shri Oscar Fernandes {Hon’bl Cabinet Minister of Road Transport and Highways (Govt. Of India)}, Shri Harish Rawat {Hon’bl Minister Of Water Resources (Govt. Of India)}, Shri Amar Singh {Member of Parliament (Rajya Sabha)}.
WAVE Infratech launches Metro Mart in Noida
Oct 29, 2013
NOIDA: With an aim to present world class shopping experience in Delhi/ NCR, WAVE Infratech, flagship real estate wing of WAVE Group, launched “Metro Mart – One stop shop for all your shopping & entertainment needs” today situated in Noida Proper (Sector 32 & 25A). This ambitious project is the outcome of a vision to transform the whole shopping experience in Delhi/ NCR and bring global retail players under one roof.

Latest Realty News Of State

Realty Talk's