Possession in few months
Influx of IT and ITES companies and professionals and infrastructure projects have made Bengaluru the country’s top real estate destination in the past year. This was revealed in a report released by PropEquity, India’s leading real estate data, research and analytics firm on Thursday, While Bengaluru emerged as the number one destination in most of the parameters evaluated on for studying India’s top real estate destinations, Gurgaon dropped to number 10 position as the North region is marred by project delays, expensive properties and a demand-and-supply mismatch.Not just Bangalore, this latest report by PropEquity puts the Southern region of India at the top as three out of the top four cities are Bangalore (1), Chennai (3) & Hyderabad (4). These cities have topped over 50 per cent of the parameters evaluated in the research.Bangalore has emerged as the best among the top 14 cities in India and has also ranked number 1 on 4 out of the 10 parameters evaluated ( i.e. size of the market, CAGR of absorption and total unsold inventory to yearly absorption ratio).Pune has come a close second and has been solely responsible for helping the western region gain the second spot.However, the NCR region has failed to make its mark on any of the parameters evaluated and has low regional as well as city rankings. via India’s Silicon Valley is top realty destination.
For Noida’s youngsters, their college corridors and canteens are not the only hangout spots. The smooth and usually less-crowded roads of the Noida-Greater Noida Expressway are equally appealing. And why not? It gives them the azaadi and the space to race with their friends, stop by for booze, or get cosy with their partner. But not anymore. In February, the Noida Authority installed 130 CCTV cameras on the expressway to keep an eye on traffic violators and catch those found over-speeding. But more than commuters, it’s the youngsters who are feeling the heat as they have to rein in their adventurous streaks, as everything is being recorded!
No more expressing love on the expressway
Those who find long drives oh-so-romantic, the expressway with its little or no traffic used to be the perfect getaway to steal a coochie-coo moment. But not anymore. Says Rohit Jigar, a student at a college in Greater Noida, “The expressway is so picturesque as compared to any other place in the city. It’s a nice place to be when the weather is pleasant – not just for a chai ki chuski but for beer parties, too! Driving on the entire stretch of Noida-Greater Noida Expressway with your girlfriend is so much better than sitting at a crowded place and being stared at. There’s hardly anyone to stare or pass comments on the Expressway.”
A centre along the lines of the India Habitat Centre in New Delhi will soon open in Noida. The announcement was made by Chief Secretary of Uttar Pradesh Alok Ranjan during the second Noida, Greater Noida, Yamuna Expressway (NGY) Infra Conclave-2015 on Friday.
“It will have the biggest auditorium in NCR and will be able to house 5,000 people at a given time. Twenty-five acres of land have been allotted between the Noida and Greater Noida Expressway. The Noida and Greater Noida authorities have already given the land to the Cultural Department and they will work in unison to complete this project. Funds for the project will come from the Centre,” Ranjan said.
With the aim to bring in more supply in the resurgent property market of Greater Noida, Vardhman Developers have announced the launch of a residential project, Vardhman ETA Residency.
Under a construction-linked plan, the company is offering over 1,000 apartments at a basic rate of Rs 3,500 per sq ft. The project that comes with world-class amenities offers 2, 3 and 4-bedroom apartments. Spread across mid-income and upper income housing, units range from 1,000 sq ft to 1,500 sq ft. The company aims to complete the project in four years. The boost in infrastructure in the city has added value to overall investments. According to industry estimates, Rs 10,000 crore has been invested here in the last few years.