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Emerging Property Microcities in NCR
The National Capital is brimming with opulent home options and residential hotspots. Dwarka Expressway, Sohna Road, and Noida Expressway have seen a massive turnaround in terms of both residential and commercial real estate investments.
Dwarka Expressway
The completion of key infrastructure projects and recent policy decisions have played a crucial role in the ascension of New Gurugram or the Dwarka Expressway. With the Gurugram section of the Dwarka Expressway inauguration and the Haryana Government approving a Rs 99.5 crore project to construct service roads on both sides of the expressway, real estate experts predict a surge in residential and commercial investments by top developers and property buyers.
Post-pandemic, luxury residences are selling rapidly. Despite rising prices, demand for luxury homes remains steady. The idea of owning a luxury home has captivated young and ambitious homebuyers, who see it not only as a status symbol and lifestyle upgrade but also as a major investment with long-term appreciation potential. Luxury homes and condominiums, starting at 1.5 crores, have seen an average price increase of 24% over the last five years across India’s top seven cities: National Capital Region (NCR), Hyderabad, Mumbai Metropolitan Region (MMR), Bengaluru, Pune, Chennai, and Kolkata, according to a recent Anarock report. In NCR, luxury residential property prices have appreciated by 22% over the past five years.
Anarock’s data highlights a significant rise in demand for luxury residences in both pre-and post-pandemic years, driven largely by Millennial and Gen-Z homebuyers.
Mr. Vikas Garg, Joint Managing Director, Ganga Realty, commented, “Dwarka Expressway, especially micro markets such as Sector 84 and 85 have become favorable zones for luxury housing purchases. The rapid development of infrastructure, extensive connectivity improvements, and the introduction of luxury housing projects have driven up property values in Sector 85 and neighboring areas. Concurrently, there has been a significant surge in property demand recently. With the Gurugram section of the Dwarka Expressway nearing completion and set to open for commuters soon, it is highly likely that property prices will increase substantially, attracting more investors to the real estate market.”
Sohna Road
Mr. Saransh Trehan, Managing Director, Trehan Group, commented, “Sohna Road is a thriving and rapidly transforming suburb in the National Capital Region, benefiting from its proximity to the Delhi-Mumbai Expressway and commercial hubs like Cyber City and Golf Course Road. This makes it an appealing location for professionals working in these areas. Homebuyers are increasingly favoring areas like Sohna Road, which offer closeness to nature and promote health and wellness. Access to green spaces is linked to increased social cohesion and a stronger sense of community, which can improve overall well-being. In response to the growing demand for sustainable and health-oriented living, developers and urban planners are designing new micro-markets and suburbs that focus on natural features and healthy lifestyles. This trend is expected to persist as more people aim to prioritize their physical and mental health in their daily lives.”
Noida Expressway
In addition to rapidly becoming a hotspot for retail and commercial developments, including shop-cum-offices and high-street projects, the Noida-Greater Noida Expressway excels in various key areas such as connectivity, infrastructure, population density, and urban settlements. The corridor offers excellent connectivity to the upcoming Noida International Airport/Jewar Airport via the Yamuna Expressway, with travel time under one hour. It also provides easy access to major cities in the National Capital Region (NCR) including Delhi, Greater Noida, Ghaziabad, Faridabad, and Gurugram. The Aqua Metro line of the Noida Metro Rail Corporation (NMRC), which connects Noida to key areas of Greater Noida like Pari Chowk and Knowledge Park, further enhances the expressway’s appeal.
The Noida Expressway has emerged as a prime area for commercial and retail developers, driven by rising consumer demand for high-quality offices, malls, and retail structures, thanks to the rapid increase in residential settlements along the corridor. According to the latest JLL report, retail developers are eager to launch projects in lucrative areas to expand their retail footprints. The report projects a 45% increase in new retail real estate space from the current 91 million sq ft across seven major cities, including Delhi-NCR, by 2028. Delhi-NCR is expected to capture a significant portion of this growth, accounting for 34% of the retail stock supply.
Dushyant Singh, Director, Orion One 32, stated, “The Noida Expressway has quickly transformed into a bustling center for retail and commercial projects, fueled by its strategic location, excellent connectivity, and robust infrastructure. Its proximity to Delhi and integration with major highways and metro lines have made it a prime destination for businesses and investors. A key factor in this growth is the availability of ample development space. The area along the expressway has experienced a boom in high-end commercial complexes, IT parks, and shopping malls. Prominent developers have capitalized on this opportunity, creating state-of-the-art office spaces and retail hubs that attract multinational corporations and renowned retail brands.”
Shiven Vikram Bhatia, Executive Director, Splendor Group, said, “The Noida Expressway has emerged as a key hub for retail and commercial real estate expansion in the National Capital Region (NCR). Its strategic location, excellent connectivity to Delhi and major highways, and robust infrastructure make it an attractive destination for businesses. The area has seen a surge in high-end commercial complexes, IT parks, and shopping malls, attracting multinational corporations and well-known retail brands. This growth is further supported by ample space for new developments, modern amenities, and supportive government initiatives, solidifying the Noida Expressway as a commercial powerhouse in the region.”
Omaxe Group Announces Launch of The Omaxe State with INR 2500 Crore Investment
New Delhi, September 3, 2024: Omaxe Group, one of India’s leading real estate developers, has announced the launch of their project, ‘The Omaxe State,’ which will be India’s first integrated 5-in-1 destination for sports, retail, hospitality, food, and culture. Spanning over 50.4 acres in Dwarka Sector 19-B, New Delhi, the project is being developed in partnership with the Delhi Development Authority (DDA) under a public-private partnership (PPP) model, with an investment over Rs 2500 crore.
Delhi, the capital of India with a population of more than 3.3 crore, has long awaited a World-Class Cricket Stadium. The 2nd most populated city of the world, Delhi has missed hosting major World Cup and IPL matches since India vs. England World Cup semi-final played in 1987. The Omaxe State will feature a World-Class, Modern ICC and FIFA-standard International Cricket-cum-Football Stadium with a seating capacity of over 30000, as well as an International Multi-Sports Indoor Stadium that can accommodate 2000 spectators.
The project follows in the footsteps of iconic landmarks such as Queen Elizabeth Olympic Park in London, Accor Arena in Paris, Singapore Sports Hub, and Melbourne Olympic Park to revolutionize India’s sporting and leisure landscape. This groundbreaking project will fill the void and aims to bring world-class sporting events back to Delhi, offering an unparalleled experience and giving Delhiites an opportunity to play, shop, eat and entertain the way world does. The above-mentioned integrated projects are among the most successful projects in their respective countries or cities and contributed to their growth. These are preferred destinations for locals and tourists for shopping, dining, sports, and entertainment needs.
Taking India to the global map, a new state is being developed: The Omaxe State, featuring 5 districts – The Sports District, The Shopping District, The Hospitality District, The Food District, and The Social District. The Omaxe State aims to blend commercial, sports, hospitality, social, and dining facilities into a unique experience in the heart of India.
A highlight of this development is the Food District, inspired by London’s Covent Garden and Carnaby Street. It will be India’s largest F&B space, spanning over 5 lakh square feet, featuring more than 40 fine dining restaurants, night and day clubs, sports bars, three drive-throughs, a large food court, rooftop restaurants, food kiosks, food trucks and banquet facilities.
Adding to the allure, the project features India’s first Air-Conditioned High-Street retail area, with shop fronts extending over 4.2 km, making it the largest private commercial development in Delhi. With 75% of the retail space located on the ground floor, it leverages the superior performance of ground-floor retail. The first floor offers additional retail spaces, a food court, and a five-screen multiplex, all designed with shop heights of 18 and 36 feet to provide a grandeur luxury shopping experience.
Beyond retail, The Omaxe State includes Delhi’s most exclusive invite-only sports and leisure club, a 75,000 sq. ft. E-Sports arena, and a hotel with 148 keys. The complex also features a large banquet space with multi-level parking, an event arena for social and cultural events, an Olympic-sized swimming pool and top-tier facilities for tennis, badminton, squash, basketball, and football.
“Omaxe is humbled by the opportunity to partner with DDA on this transformative project,” said Mohit Goel, Managing Director of Omaxe Group. “With ‘The Omaxe State,’ we aim to provide Delhiites with an international-level experience right here in their own city. This development will bridge a significant gap in Delhi’s infrastructure by offering a world-class venue for sports, shopping, and entertainment. We are thrilled to contribute to the city’s growth and elevate its profile with this unique 5-in-1 destination.”
The project will feature modern, technologically advanced amenities, including 11 entrances, car drop-offs, over 2,200 ECS, and additional surface parking with provisions for future expansion. Strategically located in Sector 19B of Dwarka, Delhi, and developed in collaboration with 24 world-renowned consultants, this project aims to set new standards in urban development. Positioned close to major attractions such as Yashobhoomi (Asia’s largest convention center), IGI Airport (ranked among the world’s top 10 airports), Bharat Vandana Park (spanning 200 acres and one of Delhi’s largest parks, akin to Hyde Park and Central Park), and the upcoming diplomatic enclave with 39 embassies, the project is set to capture significant visitor traffic. The nearby Metrolite light rail system will further enhance accessibility. The project is expected to be completed by 2027 and to generate over Rs 4,200 crore in revenue during its lifecycle.
Omaxe Group’s vision is to provide Delhi with a state-of-the-art commercial, sports, and entertainment hub that not only meets international standards but also becomes a prime landmark in the city.
Brick&Bolt Unveils State-of-the-Art Experience Centre in Noida
Noida, Uttar Pradesh, September 2024 – Brick&Bolt, India’s leading tech-enabled construction company known for its innovative solutions, is proud to announce the launch of its first Experience Centre (EC) in Noida. Located at Sector 10, Gautam Buddha Nagar, this state-of-the-art facility marks a significant milestone in the company’s ambitious growth plan to revolutionize the construction industry across the nation.
Spanning 2,740 sq. ft., the new Experience Centre, combined with office space, is designed to provide customers with an immersive experience of Brick&Bolt’s offerings. Property owners from Noida, Delhi, Greater Noida and Ghaziabad, looking for high-quality construction services but want a more transparent, trustworthy and efficient partner, can walk in to the Experience centre to explore a comprehensive range of products and solutions tailored to meet various construction needs, including the Basic Package, Classic Package, Premium Package, Royal Package, and the Dahlia Package.
Founded in 2018 by Mr Jayesh Rajpurohit and Mr Arpit Rajpurohit, Brick&Bolt was established with the mission of redefining the construction experience for property owners. The company offers a comprehensive suite of services from design to execution, ensuring seamless delivery, exceptional quality, and customer satisfaction. Key features include over 3,200 customizable floor plan options, 100% money safety with an ESCROW payment mechanism, and a trademarked Quality Assessment System (QASCON) that involves 3 levels of auditing with 470+ quality checks on every project.
Speaking about the launch, Mr. Jayesh Rajpurohit, Co-Founder and CEO of Brick&Bolt, said, “We anticipate strong engagement from the Noida and NCR market, with the launch of our first Experience Centre in Noida. This region holds immense potential, and our goal is to attract new customers by providing a seamless, omnichannel experience that blends the best of both online and in-person interactions. By showcasing our comprehensive solutions and personalized services, we aim to establish a robust presence and drive significant footfall to the Experience Centre, ensuring that our brand becomes the go-to choice for home and commercial construction in this region.”
While the Noida EC offers the same high-quality products and solutions available at other Brick&Bolt locations nationwide, the company ensures that its offerings cater to diverse tastes and needs suited to the region. “We maintain a uniform brand standard to ensure that every customer, regardless of location, receives the same high-quality experience and offerings,” added Arpit Rajpurohit, Co-Founder and CTO of Brick&Bolt. “While we take note of local preferences, our core products and solutions remain aligned with our brand values.”
Brick&Bolt has been at the forefront of driving the shift from an unorganized to an organized construction sector, setting new standards for transparency, efficiency, and quality. Since its inception, the company has completed 7.54 million sq. ft. of construction, encompassing 4,500 units across top-tier cities such as Delhi, Gurgaon, Noida, Ghaziabad, Faridabad, Pune, Bangalore, Hyderabad, Chennai, and Mysore.
In the near future, Brick&Bolt aims to expand their residential and commercial construction projects across India’s top 25 cities, including Kolkata, Lucknow, Kochi, Nagpur, and Coimbatore, among others, with a goal of delivering
over 35,000 units during this journey. By leveraging technology, they aim to revolutionize urban living and contribute to the development of vibrant, modern communities. Through this expansion, they aim to enhance their market presence while also catering to the growing demand for quality construction in India’s rapidly urbanizing landscape.