The ongoing trend in the high-end residential housing market has a twofold effect: it boosts market sentiment and fosters developer strategies. With an increasing number of developers targeting the high-end segment of the market, they strive to create projects that are tailor-made for the exquisite tastes of the buyers, making them feel understood and appreciated.

This upward trend not only sets a standard but also leads to the belief that Delhi-NCR is one of the most preferred residential destinations, offering significant investment options to investors. Noida has also been part of the premium housing segment through the FNG and DND expressway, which have brought a new growth outlook and hence redefined the real estate map not only in Delhi but in the entire NCR.

Moreover, the report indicated that in the March quarter, capital values in the NCR appreciated by 1-2 % on a q-o-q basis and jumped by 12-15% on a YoY basis. The dynamic markets of Gurugram and Noida are the main drivers of this phenomenon. With the expectation of more launches in premium submarkets in Gurgaon and Noida, the capital value is also expected to rise in the next few quarters.

The Surge in NCR’s Land Deals

During FY2023–24, property consultant Anarock stipulated that around 101 different land deals were closed by companies and other entities, totalling 2,989 acres. In the first three months of 2024, the volume of land deals increased 61% annually in January–March 2024 and 58% annually in 2023–24.

In the first three months of this year, land deals for at least 26 plots amounting to 449 acres were completed during January–March 2023, while the figures for the entire 2022–23 fiscal stand at 88 land deals of 1,886 acres.

Among the cities, Delhi-NCR made the maximum land deals for 160 acres in the first quarter of January–March 2024 and 313 acres throughout the 2023–24 fiscal year.

Land deals in the NCR are at their highest due to urbanisation, infrastructure, and investment opportunities. Besides capital gains, the future development of the land should also be considered a contributor to land deals.

According to the experts, the growth of land deals is a sign of the housing market’s buoyancy.  The demand is high for all kinds of properties, not only in the mid-segment but also in luxury, and this is the reason behind huge land deals across the country, including Delhi-NCR.

As per the Anarock data, the total land deals for the 2023–24 fiscal year were around 80 deals for 2,252 acres, which are proposed for residential, plotted development, & township projects.

The commercial and retail real estate development had 4 separate deals totalling over 42 acres included in the closed transactions. However, at least 79 acres in 4 separate deals are targeted for mixed-use developments.

In addition to this, 5 deals were closed for approximately 164 acres to develop industrial, IT, and logistics parks, and 3 land deals of 411.75 acres were for establishing manufacturing facilities.

Demand For Commercial Spaces in Noida

According to a Knight Frank report, the Indian market has moved up the ladder of major occupiers in office space, with its leasing exceeding 46 percent of office space in 2023. GCCs have become the most prominent overseas occupiers. India has reported offshoring market growth of 26% in FY23 at an overall leasing volume of 27.3 million square feet (msf).

The report depicts that GCCs have been on the lookout for growth opportunities by harnessing the potential of offshoring. This has led to growth in the office real estate market, specifically in India. The country’s market share in GCC’s leasing transactions has risen from 25 to 35% since January 1 this year, as compared to last year, due to establishing 1580 new centres across the country.

There has been a strong increase in office space in Noida, and until now, about 10 msf of office space has been rented out. The expert states that 10 msf of office spaces were on lease between 2010 and 2020. However, interestingly, 10 msf was signed up in three years between 2020 and 2023, equivalent to what was leased out in the last decade. This mirrors the growth of Noida with respect to office real estate as well as the demand for office spaces in Noida.

Significant Growth in Sales and Real Estate Supply

Consistent with the supply, record sales were made in 2023, surpassing all previous benchmarks. One of the most remarkable indicators of the growing interest in the housing industry was the fact that 4.76 lakh units were sold across the leading seven cities, even though there was an intensification of the prices of the properties and an increase in the interest rates of housing loans at the beginning of the year.

Average home prices across the top 7 cities exhibited the most significant growth in the last 10 years,appreciating by 15% Y-o-Y from INR 6,150 per sq. ft. in 2022 to nearly INR 7,080 per sq. ft. in 2023.

Owing to the high selling volumes and launching of new projects throughout the year, prices have also increased significantly in the range of 10%–24% Y-o-Y, and, among the top 7 cities, Hyderabad led the chart, growing 24% Y-o-Y. NCR experienced a 15% growth in the average price of the property, similar to the MMR growth rate.

Having said that, NCR proved to be the star in 2023 that had purposely withheld new supply to 36,730 units but recorded steady housing sales of 65,620 units, hence reducing unsold inventory by a massive 23% yearly. This is the first time since 2013 that NCR’s unsold stock has been less than 1 lakh units. 

The NCR market observed that the prime lead in supply was taken up by Gurgaon, which took up 63% of the share, with the majority of the launches on Golf Course Road Extension, followed by Sohna Road and the NH8 region. Meanwhile, Noida and Greater Noida, managed 20% of the total supply of NCR during 2023.

Most of the sales were also found in Gurgaon, with a 56% share, and Greater Noida and Noida, with a combined 25% share. 

Noida’s upward trajectory in the real estate market offers investors and buyers confidence to purchase and invest in in-demand properties. Considering the upcoming infrastructural developments in the city, we can expect more positive outcomes from the real estate sector of Delhi-NCR, especially in Noida. 

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With new and planned infrastructure projects, more employment opportunities are created. Needless to say, such projects also attract a lot of business as people begin to recognize the newly created investment opportunities, ultimately benefiting the economy on an aggregate level. 

Like all other developing nations, India has been quite busy with different cross-country, multi-million infrastructure projects. It is time for us to look at 6 Mega Infrastructure Projects in Delhi NCR that are expected to alter the trajectory of India’s capital in 2023; 

1. NOIDA International Airport

This is the new greenfield Noida International Airport, which will be completed in four different phases. Upon completion, this is going to be the largest airport in India, covering a total area of 5,000 acres of land. It is going to render services to 70 million passengers every year and will have two terminal buildings. As far as its location is concerned, it will be near Jewar in Gautam Buddha Nagar, Uttar Pradesh. The NOIDA International airport is going to handle all domestic and international flights to and from Noida, Western Uttar Pradesh, and Delhi NCR. 

2. Delhi-Mumbai Expressway

There’s good news for those who have to travel to Delhi from Mumbai or the other way around because their transit time will reduce from 24 to 13 hours after the Delhi-Mumbai Expressway begins operating this year. A staggering amount of Rs.103,000 crores is being spent on the construction of this highway, which has a length of up to 1,390 kilometres. Moreover, the Delhi-Mumbai Expressway goes through multiple states, including Rajasthan, Haryana, Maharashtra, Gujarat, and Madhya Pradesh. This is going to be the longest motorway in India, helping people travel between cities in a convenient manner.

Read More: WHY IS NOIDA EXPRESSWAY PROPERTY A GREAT INVESTMENT?

3. Ashram Flyover Extension

The new deadline for the completion of the Ashram Flyover Extension is in 2023. Previously, its completion was delayed due to municipal lockdown. Otherwise, it would have become operational in December 2022. This flyover is expected to help those travelling between Noida and Delhi by saving nearly 25 minutes of their precious time. The Ashram Flyover Extension is going to have six lanes with three different crossroads at DND-Ring road, Ashram, and Maharani Bagh, saving people from the troubles of traffic jams. 

4. Dwarka Expressway 

The Dwarka Express, also known as NH 248-BB, is expected to positively affect the flow of traffic on the Delhi-Gurgaon Express and other major connecting roads. It goes through areas like Basai, the Guguram boundary, and Dwarka Sector 21 and ends near Kherki Daula Toll Plaza at the Delhi-Gurugram Express. Infrastructure projects involving the construction of a highway, connecting different areas are undoubtedly beneficial for travellers as well as businesses.

5. Delhi-Meerut RRTS

In 2023, India’s first rapid rail system, with an average running speed of 100 km/h and an operating speed of 160 km/h, is going to become operational. The RRTS is going to connect three major cities of India, namely Meerut, Delhi, and Ghaziabad. It will have a total of 25 stops and connect Sarai Kale Khan in Delhi with Modipuram in Meerut. This is the first modernised rail system of India that is going to help a lot of people travel between cities without any difficulty. 

6. Aqua Blue Skywalk

The Aqua Blue Skywalk is a foot-over bridge that is going to link the Aqua Line of the Noida Metro with Sector 52 stations on the Blue Line of the Delhi Metro, making it fairly easy for passengers to walk between metro stations. This is one of the 6 Mega Infrastructure projects in Delhi NCR that are estimated to be completed this year. What’s important to note here is that the Aqua Blue Skywalk is going to be 420 metres long after completion. Passengers would no longer need to walk in traffic and can cut down their travelling time to get to the metro stations. 

It is safe to say that these 6 Mega Infrastructure projects in Delhi NCR in 2023 are only the beginning of India’s long-term development plans. You should keep up with the news to get all the latest information about the future of the country because more infrastructure projects are likely to follow in the coming years.

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Noida (New Okhla Industrial Development Authority) is a metropolis that has been meticulously planned with both residential and commercial projects working in tandem to build the city. If you are looking to buy an apartment in Delhi NCR then Noida might interest you the most. Living in a property in Noida provides excellent work prospects, conference centres, and now, a new airport. As a result, many IT/ITES set up their offices and centres in Noida.

This thoughtfully planned town is now shaping as India’s most innovative city, the National Capital Region’s most advanced urban development hub, and its fastest-growing tourist destination. It has developed as a modern paradigm of long-term urban planning. Noida is being built as a Metro centre to attract economic activity and people to decongest Delhi.There are several career opportunities in Noida these days. Many IT and ITES have established themselves in the city, and the number of prominent corporations is expanding, increasing work prospects. Following the completion of the airport at Jewar, many MNCs would have the reasonable option of locating in Central Noida, Noida Expressway and Noida Extension.

Let’s look at some important reasons that favours Noida these days.

New Airport

Jewar airport is presently the most buzzing new development in NCR. Work on the same began in December 2018. This airport will be one of the largest in India in terms of area. And the first phase of the project entails the building of 4 thousand acres, with subsequent stages involving the development of the remaining space. This airport will open a new gate of connectivity for everyone making Noida more attractive for IT and ITES.

Infrastructures that calls for your attention

Noida is one of the most well-planned cities in India. It has world-class road network, including the Yamuna Expressway and Noida Expressway. The Yamuna Expressway is a world-class road expressway, and all of the city’s sector highways are likewise reasonably broad. Several parks, renowned hospitals, famous schools are all present in Noida making it a residential paradise as well as preferred choice for business. The city’s futuristic transportation involves the extension of metro lines and highways. Unlike other metropolitans Noida is also blanketed in vegetation and vast green areas.

Investor’s paradise

Noida can provide a very high ROI based on the kind of projects that are taking place in the area. There is a significant pricing gap between projects in Noida, Gurgaonand Delhi. However, with the anticipated infrastructure and government measures, the gap is expected to narrow down dramatically over the next few years. So, the clock is ticking and this might be the best time to invest in properties in Noida.

To some up, you must take a noticethat within a short span of time Noida has emerged as a modern model of far-sighted town planning, making it an ideal city for setting up more and more IT/ITES. 

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Tips for Home Gardening

If you live in a flat in Delhi NCR or an urban location, your options are more limited than those who have access to land, but you still have possibilities. These are excellent practises for getting started with a garden on a balcony or other tiny space.

Remove the surplus.

The initial step for preparing any kind ofgarden is to free its space from debris, rocks, and weeds. Eliminating these are necessary as they compete with the plants for nutrients and overpower their growth. For removing them, you might need tools and equipment like spade, garden fork, Grubber and shovel.

Do the fundamentals precisely

Balcony or rooftop gardens require the same attention as ordinary gardens. Ensure your plants get adequate direct sunshine, try mulching the soil in your pots, and water them periodically. You may also make a tiny compost container to collect cooking leftovers. People living in high rise apartments can opt for balcony gardens and those living in independent floors or row houses can utilise their rooftops in case of lack of space at ground.

Be cautious in extreme winters.

Bring your plants inside when the weather changes unless you live in a warm place or another place with a year-round moderate temperature. Extreme cold temperatures can adversely affect few herbs. Overnight rains or heavy dew also causes damage to rooftop and balcony gardens.  

Use window boxes and hanging plants.

Hanging baskets and planters are extremely useful for maximising space in urban gardening. You may even try growing a windowsill garden. Use high-quality, loam-rich potting soil in any container you select. Usage of boxes and hanging plants utilises the optimum space and provides attractive look to the balcony also.

A home garden is an excellent way to use your outside or free area. It will beautify your balcony and supply you with fresh tastes to utilise in your cooking. Make a few considerations before you begin, such as how much sunshine your patio receives and whether to buy seeds or saplings. Pick up the proper tools and learn how to water and harvest your herbs to ensure the success of your balcony and roof herb garden. Moreover, these acts also assist in various movements and campaign across our country which urges us to go green and reduce pollution. As we all know that plantation is the best way to fight pollution and we shouldn’t be waiting for environment day or earth day to invest in plantation. Rather, we make it a habit to follow.

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