The values in other markets remained stable with an upward bias owing to limited main street space availability. Steady demand and expected churn is likely to push up the mall rentals in South Delhi and Gurgaon and main street rentals in Connaught Place (Inner Circle), South Extension I & II. Driven by the interest from luxury retailers there were some significant few transactions in malls. Select quality malls in South Delhi and Noida witnessed rental appreciation. Dearth of quality mall space and high demand caused a 10% q-o-q appreciation in Noida’s mall. South Delhi Mall space also registered a growth of approximately 2% in the same period owing to lease expirations and consequent churn in mall destinations.

Overall vacancy levels in malls dipped to 15.8% because sustained leasing action in both main streets and malls. However, NCR was the only city to witness a marginal rise in mall vacancy level of about 1% over the quarter owing to increased in availability primarily in malls located in the peripheral locations. There was a deferment of approximately 500,000 sq. feet of mall space in Delhi NCR now expected to be seen entering the market in the next few months.

With the completion of the extension of the metro line towards Greater Noida and FNG Expressway, the connectivity of New Noida will certainly improve with Delhi and other regions of NCR. The metro route will come as an extension of the existing Sector 32-based Noida City Centre metro line that will be extended up to Greater Noida West via Sectors 72 and 121. The completion of FNG expressway will further improve the connectivity with Ghaziabad, Faridabad, and Gurgaon. New Noida has a great potential over the other developing micro markets of NCR region like NH-24, Raj Nagar extension, Greater Noida West, Kundli, Neharpar, Sohna, Manesar, Bhiwadi and Yamuna Expressway etc. This area is a fast evolving self-sufficient market with industrial, office, retail, and workforce linkages. Its proximity to other residential zones makes it ideal for habitation. This region possesses good infrastructure facilities and has an ample supply for the affordable units to meet the demand.

New Noida has perfect mix of high-rise towers and plotted developments. This area has a lot of housing supply by various developers like Supertech, Amrapali, Unitech, Eldeco, Antriksh, Mahagun and Sikka group. Currently the projects of these developers are available in the range of Rs 4,000 – 5,500 per sq ft depending upon location, developer and stage of construction. These sectors, offering apartments at much more affordable prices, which are well within the reach of the middle class will give good returns over the long term. Residential investments in this area would be very fruitful in the present scenario when compared with the other areas like Noida Extension and Noida Expressway due to its connectivity and this area has already become habitable.

The pricing of apartments in New Noida has witnessed an increase of 30–40 per cent over the last two years. This appreciation has also taken place due to the prevailing issues in Noida Extension in last few years. With the prices of Noida Extension touching Rs 4,000 per sq ft this region has become a preferred investor and end-user location.

Now, take Sectors 74, 94 and 119 in Noida. These sectors boast of easy connectivity to the other parts of NCR, East, and Central Delhi. The DND Flyway provides an uninterrupted connectivity from these sectors to South Delhi. Considered a lucrative growth corridor owing to a spate of civic and infrastructure projects, Jaypee Greens, Supertech Pvt Ltd, Amrapali Group, Ajnara Group and SPR Buildtech and a few others have launched luxury projects in the Rs 1.5-5 crore range in these sectors. These housing units, 2000 sq ft and above in size, are available as penthouses, luxury pads and suburban villas. Prices may vary in these projects, but some things remain constant – the unprecedented levels of luxury, comfort and services.

According to RK Arora of Supertech, “Noida has several factors that would support its growth as a residential real estate destination – education institutions, mega shopping malls, amusement parks, reputed private and government medical facilities, theme parks and entertainment zones. The numerous luxurious projects coming up in the NCR are testimony of the growing faith amongst stakeholders. Noida may have started late, but today it can give Gurgaon a stiff competition in terms of opulent projects.” According to Vineet Gupta, Director, Ajnara, “With the cloud of insecurity and fear of global recession, which nearly grounded the real estate sector, clearing away, people with disposable income, are ready to buy properties not just for living but to make a statement.”

Solar thermodynamic design to control the outside temperature, futuristic designs, flowing curves, majestic facades, breathtaking work in perfect blend of nature and technology, Noida is home to dream abodes fitted with every possible convenience and a lifestyle choices.

On Sunday evening, the goons reportedly brutally thrashed a shop owner when he refused to vacate the premises. Ironically, all the violence took place in front of police officers present at the spot. Shop owners then staged a protest outside the police station and the SSP residence throughout the night. Referring to the situation as one akin to ‘jungle raj’, shop owners alleged that the threats are continuing but police have refused to offer them protection. On Sunday, five goons reached Jindal Crockeries in Sanjay Market at 9.30pm and assaulted the shop’s proprietor Mahesh Kumar and his brothers Krishan and Rajesh. According to a shopkeeper, “They suffered severe injuries on their hands, faces, and eyes. They even snatched away nearly Rs 50,000 from them. We approached SO Rita Yadav and Deputy SP Shivram Yadav, but no FIR was lodged in the matter. It was only when we went to the SSP’s office that a case was lodged. Even then, the accused have not been arrested”.

“With rising land prices in Noida, the real estate mafia has started sending goons to beat up shopkeepers to force them to vacate their shops. Eyeing expensive commercial real estate in Atta Market and other areas, they want to force shopkeepers out with violence and build commercial complexes,” said a shopkeeper. This is not an isolated incident. Another shopkeeper, Manu Dhingra of Kabliwala, said that the goons had come to his shop and threatened to beat him if he did not vacate.

According to Brijesh Bhanote, director (sales and marketing), The 3C Company, “The buildings are designed and constructed with added attention and good technologies available. Our teams of experts keep a regular track and inspect building material from time to time”. According to Amit Gupta, MD, Orris infrastructure, “The modern high-rise buildings are convenient, safe and sought after due to their location and ability to provide all facilities under one roof”.

North Eye, the Supertech much-touted north India’s tallest residential building lies under seismic zone 4. According to RK Arora of Supertech, “The building is designed as per the national building code and is circular so that wind force is kept at a minimum. The foundation is 160 feet deep, which is quite capable of taking all types of loads/deflection in case of an earthquake”.

The managing director of Bhasin group, SS Bhasin, said, “We have hired world renowned agencies to develop such state of art structures and, at each stage of development, the structure is reviewed from all angles”.

The study pointes out that open parking facilities in the ground floor of most buildings that were surveyed – a measure adopted with the rapidly decreasing open space available for parking – has had the adverse effect of weakening the ground floor. Moreover, the study also notes that most such buildings have large water tanks on the roof and in the event of an earthquake; these are a cause of serious concern. The Noida Master Plan 2031, which quotes the study, says that, “these water tanks have caused considerable damage during Bhuj earthquakes. Alternative means of water storage need to be explored such as underground sump or distributed storage in each housing unit.”

According to the master plan, commercial complexes and shopping malls – though capable of withstanding the energy released during an earthquake – are also dangerous since they are made largely out of glass and at the time of an earthquake, the broken glass can grievously hurt people. As per the study, pre-earthquake preparedness is the key to ensuring reduction in damage caused to human populations in the city in the event of a major tremor. The master plan notes the need to implement seismic micro-zonation plan for vulnerable area alongside detailed planning and hazard identification. However, these plans remain confined to just being proposals.

Griha Pravesh offers 2, 3 and 4 bedroom luxury ho­mes, garden apartments and pent­houses at the starting price of Rs 60 lakh. The flat area ranges from 1,175 to 2,569 square feet. According to Abhay Kumar, CMD, Griha Pravesh Buildteck, “about 74 per cent of the project is already booked. The total investment in the project is about Rs 500 crore and will be completed by June 2014. To support safety norms, the project structure have been approved by IIT, Mumbai, which is the only project in NCR to secure this approval, as per the builders. Kumar also added that, “We have also ensured seismic zone V compatibility and provided water softening facilities in the building”.

As a part of green build­ing guidelines, Griha Pravesh has installed solar panels for common area, lighting, and hot water supply. Apart from rainwater harvesting systems, water recycling is being undertaken for gardening as well as plantations. The project is barely 10 minutes from the shopping hub of Sector 18 (Great India Place) Noida, 1.5 km from Sector 50, 3 km from Sai Dham, and 2.5 km from the nearest metro station. It is also very close to premier schools and educational institutions. The project claims to be the first in NCR with stack parking facility for optimum space utilization along with electric charging points for electric vehicles.