DELHI: Noida real estate market touched a new high after worldwide luxury hospitality giant Four Seasons launched its private residences by Four Seasons at mix land-use property in Delhi One with a cost of Rs 3,500 crore.
At a cost between Rs 10 crore and around Rs 25 crore, service apartment owners would be able to enjoy hotel-like facilities such as valet service, temperature controlled swimming pools, concierge, personnel laundry, transport services, in-residence dining, housekeeping and others.
While launching branded residences of Noida project, Chris Hart, president, hotel operation, Asia-Pacific, Four Seasons Hotels and Resorts said that “out of 92 Four Seasons hotels across 38 counties, 27 have residential components”.
When asked why chose Noida as a destination to enter in the North India market, Hart said, “Noida has a great potential. It is rich in greenery and natural beauty and also loaded with world class infrastructure. Delhi One is the result of a winning combination.”
The 3C’s Delhi One project spread on 12.5 acres next to Delhi-Noida-Delhi (DND) toll Plaza in Noida, features Four Seasons Hotel, three adjoining towers of Four Seasons private residences connected to the Hotel via a sky bridge, five commercial office towers as well as luxury retail, high end restaurants and cafes.
180 Four Seasons private residences having size of 7, 500 sqrft to offer in Delhi One project, a mixed-land use iconic Noida address which is R 3,500 crore project as claimed by the 3C realtor. These branded residences’ interior is inspired from London Decor, California and Manhattan.
“The definition of quality living has been transformed. Elites in Delhi-NCR and other parts of the country too ready to spend to enjoy quality living. In last five years, India has witnessed 10-15% growth in luxury segment of housing, and Noida is an ideal market for it because of the vision this city holds,” said Vidur Bharadwaj, director, the 3C Company. “Depending on the theme, the cost of each private residence will cost ranges from Rs 22000 and Rs 26000 per sq. feet,” Bhardwaj said.
From being an affordable housing destination, Noida has slowly transforming into a hub of luxury and high-end projects to give a stiff competition to the neighbouring city of Gurgaon in Haryana.
The chairman of the three authorities of Noida, Greater Noida and Yamuna Expressway, Rama Raman, said, “Now, Gurgaon will have only one USP, which is close proximity to the airport. As builders are coming up with projects developed by world class agencies, in the next five years, Noida will beat Gurgaon in all respects.”
Even developers are upbeat about the new tag being given to the region. The CREDAI (western UP) vice-president and CMD of Supertech, RK Arora, said that this change was imminent as time demands it.
“World renowned Italian couturier Giorgio Armani is designing an exclusive flat in the Supernova project. The cost of one designer flat with an area of 4,000-5,000 sq feet will be around Rs 10 crore. For starters, Raj Kundra has decided to purchase a flat for his wife, Shilpa Shetty, in Supernova,” Arora added.
Another project, Curio City, will be using extensive art styles in design with an amalgamation of several schools of art - Middle East, European and Contemporary. The township will have a mix of plotted development, villas, group housing, commercial establishments, club, institutions, hi-street and luxury retail, 5-star hotel, business hotel, etc.
“Investors, especially NRIs believe that investment in luxury serviced apartments is a wise decision as it offers solid returns in a short duration of time,” said Amit Gupta, member Assocham and MD of Orris group.
With Rs one thousand crore investment Bhasin group is building Mist Avenue IT Park in sector 143 along Noida Expressway. The group under its Mist project is offering bungalows ranging between Rs six crore and Rs 10 crore.