Noida witnesses rapid growth

Noida real estate market is gearing up for the New Year and things seems to be looking up for the realty market in Noida and other cities part of the National Capital Region. Ease in the FDI reforms, implementation of the REITs and a number of infra developments in the country has really created a lot of opportunities of builders and home buyers alike. The realty market in the National Capital Region has gained necessary momentum in the recent past. Noida and Gurgaon are two regions that will see the most amount of stability this 2015. They are mature real estate markets and the things will definitely see an interesting turn of changes.

Santhosh Kumar of JLL India says to Money Control that, “Various recent announcements and the infrastructure uplifts of the city have made Noida's real estate market increasingly attractive. What favours investors entering Noida is the lower pricing factor, which now promises better appreciation and returns on investments. The realty market in Gurgaon has now crystallized into one most favourable for buyers in the premium segment. But the other side of the coin is that the high price points in Gurgaon suggest that properties there will no longer fetch high rates of appreciation. With the fast-paced development in infrastructure in Noida and its vicinity, real estate growth has really picked up over the past few years.”

Many new projects have been charted out in the National Capital Region which will help in the appreciation in the price of properties in Noida. The extension of the metro line from Dwarka-Noida to Pari Chowk if completed will have a huge impact in the realty market and improve the prospects of residential apartments in Noida. However this project will only have long term implications as the assignment will only wrap up by the year 2021. The Noida Metro Rail Corporation has secured approvals for a 29 km long metro link between Greater Noida and Noida. This project will be a game changer for properties in Noida. Although one must not expect overnight returns and be prepared to stall selling of property to the right time.

On the other hand apartments in Greater Noida, an extension to Noida has posed an opportunity to establish their own power plant which will add to the number of infrastructure projects in the region, thus improving the overall appeal of the city. In fact Greater Noida has attracted a lot of investment in the in the luxury housing sector. Top builders like Supertech Ltd, 3C Company, Prateek Group, Lotus

Greens and Wave Infratech have projects in the locality starting from INR 3000 to 4000 per sq. ft. With improving infra and improving connectivity in the region Noida and Greater Noida are emerging as joint players in the race for realty demand in Noida. Projects of economic importance like Export Promotion Zone and Taj Economic Zone is predicted to give these areas a complete realty makeover. Time will tell how the consumers respond to this.

Kelambakkam emerges as an affordable real estate hub in Chennai

Kelambakkam is an emerging micro market located on the Old Mahabalipuram Road.  It is surrounded by areas such as Padur, Kovalam, and Pudupakkam. This micro market lies in close proximity to areas such as Siruseri, Navalur and Uthandi. The Vandalur-Kelambakkam Road also passes through this locality making it easily accessible to localities on the Grand Southern Trunk Road like Vandalur, Guduvancheri, Tambaram and Perungalathur.

The area’s main draw lies in its location and the affordability of real estate available there. It is easily accessible through the OMR, GST and the East Coast Road. Since it is located on the Information Technology belt of OMR and is especially close to Siruseri which houses the SIPCOT Industrial Park, there is a lot of demand for properties here from those who are employed in this sector. There is also great demand for rental properties here because of the same reason. The rental rates here stand at INR 13 per square feet on average.

Flats for sale in Chennai located in this micro market fall squarely in the affordable category. The property rates for apartments locates in this micro market stood at INR 3700 per square feet on average in the first quarter of 2014. The prices had appreciated by about 11% when compared to the last quarter of 2013 when the prices stood at INR 3400 per square feet on average. In the second quarter of 2013 the asking price for apartments here stood at INR 3100 per square feet on average which was a drop of about 13% when compared to the previous quarter. The prices shot up by 71% in the third quarter of 2013 and stood at INR 5300 per square feet on average.

Chennai Real estate were priced at INR 4300 per square feet on average in the first quarter of 2014. This is a drop of a mere 3% when compared to the previous quarter when the asking price stood at INR 4500 per square feet on average. In the 2nd quarter of 2013 the asking price for villas in Kelambakkam stood at INR 7700 per square feet on average which was an increase of about 68% when compared to the previous quarter. The prices only dropped by about 1% in the next quarter and stood at INR 7600 per square feet on average.

The most sought after apartment configuration here are 2 BHKs. This is followed by 3 and 1 BHK flats for sale in Chennai located in this micro market. The most desired unit size for apartments here among buyers falls in the less than 500 square feet range. This is followed by the 501 and 750 square feet range and the 751 and 1000 square feet range. Buyers are willing to spend anywhere between INR 10 and 20 lakhs on apartments here. This is followed by the INR 20 to 30 lakhs range and the INR 30 to 40 lakhs range. The most ideal budget range for flats here falls below the INR 2000 per square feet range.

Why apartments for sale in Velachery are a good bet?

As far as real estate in Chennai is concerned the southern part of the city is a very popular destination for home buyers. Though most of the markets in this part of the city are saturated, these areas still remain high on a buyer’s list. The micro markets in the northern parts of the city and on the Grand Southern Trunk Road are catching up to the micro markets in the southern part of the city.
Independent homes in this locality were priced at INR 5600 per square feet on average in the 1st quarter of 2014 between April and June. This was a major drop of about 50% when compared to the previous quarter where the prices stood at INR 11300 per square feet on average. In the 2nd quarter of 2013 the going rate for homes here stood at INR 11500 per square feet on average. This was an increase of about 21% when compared to the previous quarter. In the following quarter the going rate for houses here stood at INR 15000 per square feet on average. This was an increase of about 30% when compared to the previous quarter. 

Apartments for sale in Chennai were priced at INR 6600 per square feet on average in the 1st quarter of 2014 between April and June. This was a drop of about 4% when compared to the previous quarter where the prices stood at INR 6800 per square feet on average. In the 2nd quarter of 2013 the going rate for flats here stood at INR 7600 per square feet on average. This was an increase of about 31% when compared to the previous quarter. In the following quarter the going rate apartments in Chennai located in this micro market stood at INR 12000 per square feet on average and this was a drastic increase of about 58% when compared to the previous quarter. 

Properties in Chennai are the most sought after. This is followed by 3 and 1 BHKs. The most in demand unit configuration for flats here falls between 751 and 1000 square feet. This is followed the 1001 and 1250 square feet range and the 1251 and 1500 square feet range. Buyers looking for apartments in Chennai located in here are willing to spend anywhere between INR 50 to 60 lakhs on them. This is followed by the INR 40 to 50 lakhs range and the INR 60 to 70 lakhs range. Buyers are willing to spend anywhere between INR 4501 and 5000 per square feet on flats here. This is followed by the INR 5501 and 6000 per square feet range and the INR 4001 and 4500 per square feet range. 

Since Velachery is located close to the Information Technology hub of OMR, it attracts a fair share of those who are working out of OMR. The area is well connected to most of the city and is also had a very strong social infrastructure. All these factors work in its favour.

Why should you invest in a property in Mira Road?

Mumbai is one city where owning a home might just remain to be a distant dream. However, one locality has cropped up onto the realty radar that is making this dream come true. Offering homes at affordable prices, Mira Road has become one of the most sought after vicinity by many property seekers who are keen on owing a piece of Mumbai. Below we tell you why investing in a property at Mira Road would be a fruitful for you.

Strategic location
Situated in the northern region of Mumbai, Mira Road is a suburban area that is fast developing into becoming a residential catchment area. Its seamless connectivity has attracted many real estate developers who are now coming up with many residential projects. A property at Mira Road that was initially barren is now dotted by many multistorey building.

Seamless connectivity
Proximity to the Western Express Highway and the International Airport has captivated many young home buyers’ mind. The presence of many arterial roads like Ghodbunder Road has eased access to other neighbouring areas like Thane and Navi Mumbai. The physical infrastructure developments initiated by the MMRDA () like widening of existing roads linking Bhayandar and Gorai has lured many home buyers to invest here. The proposed project to create a bus corridor along the Mahim and Mira Road stretch has roped in a lot of investment. The demand for apartments for sale in Mira Road have shot up thanks to easy connectivity to established areas like Navi Mumbai, Mumbai and Thane.

Developing social infrastructure
The presence of many schools and colleges like MIIT Institute have engaged many families to shift their base here. The proposition by the MBMC to improve the basic civic facilities has pushed capital values of apartments here. The plan to have more fire stations and up-gradation of the existing storm water drain systems have lured many local and national real estate developers to invest here. Apart from all these facilities, builders are luring potential home buyers by offering world class amenities like round the clock water supply, gyms, 24x7 power backup and a lot more.
The presence of many reputed healthcare units have attracted many retired personnel. The developments along the commercial belt have created the perfect blend of traditional and modern day amenities.

Appreciating property prices
Apart from offering good social infrastructure and great connectivity the locality provides an array of housing options. According to a recent report there are over 20 new upcoming projects in the area that range from being affordable to mid-segmented to even ultra luxurious. With there being an inherit demand for 1 BHK apartments for sale in Mira Road, an array of builders are offering home that fall under the budget of Rs 50 lakhs. According to data, capital values of apartments have escalated over 35 percent in the past two years. The current ongoing prices for homes are expected to hover anywhere between Rs 7,100 and Rs 7,900 per square feet.



Sulabha is a real estate expert and consultant from NCR. She deals with analyzing trends in the market of residential apartments in noida and commercial properties in Greater Noida

Why now is the best time to buy apartments in Vandalur

Vandalur is located in the south western part of Chennai. This micro market which was famous only for being home to the Arignar Anna Zoological Park is now making real estate waves. It is quickly earning the reputation of being one of promising real estate destinations in Chennai. So much so that there is increasing demand for properties such as apartments in Vandalur.

Several factors have played an important role in the rise of Vandalur real estate. Several infrastructural projects have improved the growth trajectory of this area.  Any area which has an important road running through it or lies close to a road of importance does well in terms of real estate. This is true of Vandalur as well. The Outer Ring Road is located in close proximity to this micro market. This road connects Vandalur to Nazrethpet. Areas which are located around this road are experiencing exponential growth because of the seamless connectivity that this road offers. Vandalur will also be home to a bus terminus which will be built upon 65 acres of land. This has attracted the interest of buyers and builders alike in plots for sale in Vandalur.

The going rate for apartments in Vandalur stands at INR 3600 per square feet on average. This is a dip of 26% when compared to the previous quarter when the prices stood at INR 4800 per square feet on average.  About a year ago, in the third quarter of 2013 the going rate for these properties stood at INR 5900 per square feet on average. The property rates have dipped by about 39% over the last year. The going rate for properties such as independent homes and villas stands at INR 3500 per square on average. About a year ago the going rate stood at INR 5800 per square feet on average.

There is maximum demand for 2 BHK apartments in Vandalur. This is followed by 3 BHKs. The most in demand unit size for apartments here falls below the 500 square feet range. This is followed by the 751 to 1000 square feet range. Buyers are willing to spend anywhere between INR 10 to 20 lakhs on properties here. This is followed by the INR 20 to 30 lakhs range. Per square feet buyers are willing to spend an amount which is lesser than or equal to INR 2000 here. This is followed by the INR 2501 to 3000 per square feet range.

Properties such as apartments in Chennai are attracting the Information Technology population which is working in the IT hubs in OMR. This is because the area is well connected to OMR. Since the area is located on the junction of the Vandalur Kelambakkam Road which connects the GST Road and OMR Road. This has been very advantageous for Vandalur. The Vandalur Kelambakkam Road in itself is being considered as a corridor for growth with a lot of developers coming up with projects along this stretch. Taking all these factors into consideration, one won’t be wrong in investing in properties such as properties in chennai.

How to make the right real estate investment choice in Chennai

Chennai real estate market has been one of the key markets in the entire country, showing immense growth and future potential for buyers and investors alike. Properties in Chennai have witnessed over 32,800 new launches of residential units and the absorption of these projects have been close to 22,700 according to a report by Jones Lang LaSalle. This rapid rate of absorption was mostly observed in the IT corridor of OMR (Old Mahabalipuram Road). This conservative market today is completely driven by end users, in spite of the many slowdowns that occurred last year. Economy and the political scenario played a major role in this too.

Today the market in Chennai is such that there is only very limited opportunity to construct budget independent house for sale in Chennai, in spite of the demand generated. Also what is considered affordable in Chennai might to relative to any other city. It might more or less depending on the city and its real estate sector. With further improvement in infrastructure and attractive prospects for healthcare and educational sector continuously growing, Chennai has emerged as an attractive investment prospect in all of south India. Here is how you need to make smart investment choice in Chennai


1.    Fix on a budget- It is important to decide how much you are willing to spend for your real estate investment. As this will narrow down the search for you immensely.

2.    Do you research- Do a thorough background check of the locality, apart from doing internet research you must also visit the locality if possible to see two important aspects, physical and social infrastructure and public transport and connectivity in general. Also additionally if you have any other requirements like school or a college, you must consider looking at localities accordingly.
3.    Decide if you are looking for property for investment or for personal use—it is important to know how and where to invest and to decide that one must understand the implications of investment in any region. Also if you are looking to invest for the sole purpose of reaping good resale value, then you approach and the localities you look will be different and if you are looking to invest for personal use, then the set of localities to look at may vary considerably.
4.    Identify growth pockets- “Infrastructure is being developed to suit the needs of various industries that are setting foot into the city. Focus is on the Outer Ring Road (ORR) were the Phase I (Vandalur to Nazarthpet – NH 4) has already been completed. ORR Phase II where land acquisition is in advance stages will boost the real estate activity along this corridor. Chennai and its adjoining cities are among the best for primary and higher education in the country today. Healthcare and medical facilities in the city are also among the best available in the country. Development of new hospitals, schools, malls and multiplexes in the emerging locations are all stimulating growth for the city’s residential real estate industry.” Explains Sanjay Chugh- Head Residential Services JLL India

After these important steps all you have to do is hunt for properties in the given region. Investment decision is a crucial one, therefore take your time and invest in the right project. Properties in Chennai and the real estate market is showing positive signs and is project to grow manifold in the next decade.

Invest in apartments in Noida for gain good returns

Focusing on the National Capital Region the expert analysis suggests that there will be a 10 to 15 % increase in the capital and rental values on an average here. Especially regions like Noida and Noida extension will benefit greatly from this price appreciation. Property in Greater Noida will be a priced commodity for investors and builders alike. Manish Agarwal of CREDAI NCR said to a leading newspaper that, "A number of reasons could be attributed to Noida and other Delhi-NCR real estate investors shifting to Dubai, for most of them, it was higher rate of return and stable policy environment there. Same investors are returning to Delhi-NCR real estate market expecting a healthy growth here on the back of new government at the centre."

Ready to occupy flats in Noida and Greater Noida have shown a steady demand. The reason why ready to occupy flats in Noida is much more popular than investing in an upcoming flat is because of the many delayed projects and fraudulent activities that has plagued the entire national capital region immensely. Absorption of these flats is definitely higher. This also affects the prices and overall capital value of property in Noida.

Noida today has expanded into Noida and Greater Noida or Noida Extension and there are various plans by the government to allot land for commercial and residential real estate purposes. Although the prices in Noida are high, prices in Greater Noida or Noida Extension is relatively cheaper. This can prove to be a good investment option for home buyers who are not looking to spend and extravagant amount of money in buying a home. This also a popular rental market with a number of industries around the area. The rentals that you fetch now might be low but in the next four years the area is going to be developed with a number of upcoming physical infrastructure projects, connectivity being one of the major drivers.