New Okhla Industrial Development Authority or Noida,
as we know, has been a benchmark in the real estate sector of NCR for over a
couple of decades. Being a neighbour of the capital of our country, it always
received the fruits of acceptance by people more than any other region of the
NCR. On the development front as well, Noida has been a skyline of NCR with
infrastructure on a continuous development and upgradation spree. For Uttar
Pradesh’s list of 12 announced Smart Cities against the 13, Noida couldn’t make
it in. But the kind of development that it has witnessed over the years, along
with the promise of better future, it does not look that this region requires a
Smart City tag. In fact, in the eyes of the corporates and public, Noida as a
region scores much above several cities shortlisted in the list of 98 Smart
Cities.
“As a region, Noida has witnessed industrial,
commercial and infrastructural development on a massive scale and looks quite a
complete city. For residents also, civic amenities are present with scope of
improvement. The presence of public utilities makes it a complete habitat.
Developers across NCR have always favoured Noida as a realty region over others
due to its approachability from Delhi, Ghaziabad, Greater Noida and Faridabad.
This allows connectivity advantage, thereby gradually enhancing its capital
value as well”, avers Mr. Sushant Mutterja, CMD, Cosmic Group.
Smartness quotient at present:
As per the parameters of declaring a Smart City,
Noida might not have scored well. But does a resident actually require those
facts and figures to get attracted towards a region? This brings our focus
towards having a sound infrastructure in place, which serves as the true reason
for a region’s attractiveness. “Over the last one decade especially, Noida has
emerged as the perfect destination for residents and commuters. With already
existing numerous residential and commercial spaces, it’s a ready city.
Presence of metro rail, public transportation facilities, superior roadways and
connectivity makes it an ideal destination for residential and official
purposes”, shares Mr. Rupesh Gupta, Director, JM Housing.
Adding more to it, Mr. Vikas Sahani, CMD of Property
Guru states “Noida never required a Smart City tag and according to its growth
graph, it might never will. The kind of residential projects that have come up
over the last 5-7 years, there are ample of options made available for the
customers. Projects vary from affordable segment to even ultra-luxurious
segment, thus satisfying every segment’s demand. On the other hand,
infrastructure and Noida’s connectivity is on a continuous development track
which will boost its future prospects of getting accepted by potential end
users and even investors.” Thus, with the kind of infrastructure and habitat already
available in the region and still a lot in pipeline, Noida might never require
to be developed into a formal Smart City, as its existing Master Plan already
has plans to take it to the next level.
Reasons why it will remain Smart:
What we are observing today in Noida is just about
40 percent of what is going to come our way in the next 7-10 years. Sighting a
few examples, the metro line existing in Noida has plans to get extended till
Greater Noida West. Construction work on the same is already taking place at
the rate of knots, with a metro line coming up along Noida expressway as well.
FNG expressway will be operational soon. Widening of NH 24 has been announced
and the work is being promised to be complete within 30 months. Several
underpasses and flyovers are also under construction across Noida. Apart from
these, a number of educational institutes, financial institutions, hospitals,
universities, civic structures, commercial spaces, residential complexes, power
plants, water treatment plants, sewage treatment plants and other such
assignments will be mushrooming across Noida in the upcoming few years. Now, do
we really need a Smart City tag for Noida to address these needs of the future
inhabitants of the region? “Smarter way of public and private development and
promoting sustainable development is what a Smart City makes sure. With modern
concepts of construction and living, coupled with this city’s clean & green
campaign; we are rest assured that Noida will breathe a healthy air and promote
sustainable development for the future generations. The work on the
infrastructure front is also taking place at a world class level and thus,
justifies being a region with Smart development”, affirms Mr. Sudeep Agrawal,
MD, Shri Group.
Smart development will pave way for smarter returns.
Capital appreciation and good returns on investment has been a highlight of
Noida as a region. Over the last 5-7 years, the regions have appreciated by
almost 40-60 percent varying with different sectors, with some sectors even reaching
out till 100 percent appreciation levels. This has allowed Noida to become an
investor’s paradise and an end user hub. “From 2008 till 2013, Noida lived a
golden period with footfall of investors and end users being a prominent view
at the project sites across most residential and commercial projects. The
conversion rate was very high back then with resale value also earning profit
for the investors. The period from last quarter of 2013 onwards till mid of
2015 witnessed a slack, but then onwards things are getting back on track with
promise of returns getting better than before. Through this history, one can
now easily imagine the extent of returns which Noida will yield in the next 5-7
years through smarter development”, explains Mr. Rakesh Yadav, Chairman,
Antriksh India.
Carrying a tag is crucial at times as the
attractiveness quotient increases in the eyes of potential parties interested
for its development. Noida not able to make it to the Smart Cities list won’t
be able to attract much FDI in terms of funds or manpower or ideation; but does
it require any or all of it? With several global giants already having their
footprints in the region and Noida sitting right in the middle of 4 smart
cities of NCR namely; New Delhi, Ghaziabad, Faridabad and Karnal, Noida will
not get bypassed so easily, rather receive benefits from all of them. “The
government and authorities have kept no stones unturned if we speak about
Noida’s current development and its future prospects. Not being a part of the
Smart Cities list; this will never hurt Noida and its future progress as the
ripple effect of Smart development around it due to four Smart Cities of NCR
will allow Noida to be developed shoulder-to-shoulder with those cities. At the
same time, the connectivity factor with those Smart Cities will anyways promote
and serve Noida’s development in future as well”, concludes Mr. Ashok Gupta,
CMD, Ajnara India Ltd.
No comments:
Post a Comment