Real Estate Research Report Q3, 2015 Overview

The New Okhla Industrial Development Authority or Noida is an integral part of National Capital Region (NCR). Located at a distance of 27 KMs from New , Noida came into existence in 1976.

Spread over 20,000 Hectares, the integrated township is home to a large volume of Industrial, Commercial and Residential activities. The present day Noida boasts of world class infrastructure comprising of Metro, Expressway, Economic Zones and Shopping Malls. The city is the hub of premier educational institutes and modern healthcare facilities, which further invigorates businesses.

Due to advanced infrastructure & smooth connectivity to New Delhi & other parts of NCR, Noida over a period of time has emerged as one of the favourite destinations for professionals and entrepreneurs along with corporates & MNCs.

Another attraction of Noida is the Noida Film City, which came into existence in 1987. Located in Sector 16A, it is home to major news channels, film studios and numerous media institutes.

The popularity of Noida has resulted into its expansion towards Eastern frontiers, resulting into the creation of , the Census town which is culturally part of Noida. Greater Noida is planned and developed by Greater Noida Industrial Development Authority (GNIDA). Greater Noida, that is located at a distance of 40 KMs from New Delhi, is planned to be connected to Delhi through metro system by Oct 2017. Noida - Timeline

Came into Administrative Existence in 1976

An emerging industrial Late 70s & 80s- township 1990 Emergence of Greater Noida as a separate entity Builder centric residential 1994 accommodations Late 90s From an industrial hub to a real estate maven Delhi Noida Direct Flyover 2001 Opened 2002 Foundation stone laid for Noida - Greater Noida Expressway Landmark land auction - 2006 Unitech acquires 340 acres of land at a price of over INR 1500 crores 2007 Great India Place, one of the largest malls in India opens Noida is connected by 2009 Delhi Metro 2011 Buddh International Circuit opens and First Indian Inauguration of Yamuna 2012 Grand Prix held Expressway connecting Greater Noida & 2014 Approval for Noida-Greater High Rise and affordable 2013-2017 Residential Devlopment 2031 Completion of Noida Masterplan (Proposed) Upcoming Noida Infrastructure

As discussed, Noida is one of the fastest developing cities in Northern India in terms of residential, commercial & industrial dimensions. Its growth momentum is also visible in the pace with which it is ramping up all the aspects of its infrastructure- Physical & Social.

Noida is keeping no stone unturned in adding up to its connectivity. Various ongoing infrastructural developments such as New Metro Link, Faridabad-Noida-Ghaziabad corridor and a proposed new Airport are in pipeline.

To enhance its public transport support system, Delhi Metro Rail Corporation (DMRC) and Noida Authority has signed an agreement for construction of metro link between Sector 32 and Sector 62, that will connect Noida City Centre to NH-24. It is scheduled to be completed by the end of 2017. The line will make commuting easy not only for people in Noida, but also for those in Ghaziabad and Delhi and reduce the traffic chaos altogether.

Various roadways are under construction to enhance connectivity among NCR & other nearby places. The six lane, Noida-Greater Noida expressway connects Greater Noida with Delhi through Noida. Likewise, various steps have been taken to improve the connectivity to nearby areas like Ghaziabad & Faridabad through Ghaziabad-Noida-Faridabad corridor, which is expected to be completed by mid-2018. It is likely to be extended till Sohna and seen as an excellent connectivity path between and Haryana.

Another boost has been the development of Yamuna Expressway- 165 KM long state controlled road connecting Greater Noida & Agra. It has been built to minimize travel time between NCR & Agra. The expressway is also an upcoming hub to serve various residential, commercial, industrial & institutional setups.

The proposed , located along the Yamuna Expressway could be an inflection point for the city as it can give Noida its own foothold in Indian aviation.

Noida is also amplifying its social & tourism infrastructure in the form of world class tourist hubs such as Okhla Bird Century, Gautam Budh Park, Iskon Temple & much more. Noida – Realty Sector

Noida enjoys a robust realty market in the region. The realty sector in Noida is driven by its massive commercial & infrastructure development along with its relatively economical price when compared to New Delhi & Gurgaon. The average capital value per Sq. Ft. in Delhi is between INR 8,000 to 30,000; Gurgaon is INR 7,000 to 24,000 per Sq. Ft. and Noida - INR 3,500 to 8000 per Sq. Ft.

In the recent past, Noida realty market witnessed significant real estate activity in terms of both new launches & absorption, with a large number of units launched being concentrated in Greater Noida and Yamuna Expressway.

Noida has also obtained the approval for a new Master Plan 2031. In the new plan, there is a lot of scope for infrastructural, residential and commercial developments like widening of roads with elevated structure and underpasses, flyovers, greeneries, high-rise buildings, hotels, major Metro and road linkage projects & much more.

Noida Map

GHAZIABAD MINI HIGHW

63 62A 62

64 65 69

A Noida North 58 59 68 Y 66 67 TO DELHI 56 57 60 TO GREATER NOIDA 5555 11 54 61 121 22 61 71 70 7 8 12 TECH ZONE IV Ecotech 12 Ecotech 18 6 23 122 Regional 53 Institution 1 10 21A 5 24 33 52 Ecotech 119 14 14 2 9 21 24A 33A 73 120 Ecotech 13 4 34 72 20 25 51 PHASE II 15 35 51 118 3 26 32 117 15a 16 19 75 74 Ecotech 18A 50 31 51 16B Sector-2 17 27 30 36 33 9 TO DELHI 16A 50 77 18 28 29 39 116 115 37 76 Sec. Sec.10 40 41 112 12A Noida Central 38A 38 49 78 79 113 Sector-3 Noida 43 Sector-1 Sector-13 44 42 80 48 10 45 101 102 94 46 47 107 Knowledge Park V Extension 124 96 99 106 81 18A 100 125 104 97 21 126 98 TO GREATER NOIDA 127 110 84A 88 TO DELHI 105 82 84 87 108 83 89 128 93 86 139 G.T 92 85 Noida East 93A 138 . Road 140 131 132 93B 92 90 140A 129 137 133 136 134 141 142 143

143A Greater143B Noida ExppressW 168 144

167 145 166 165 163 146 164 161 162 159 ay 160 158 157 ARIDABAD 156 154 155 TO F 153 151 Greater 152 149 Noida 150

Y

AMUNA EXPRESSWA TER NOIDA

ANDRABAD

TO GREA TO SIK

Y Y

26 B 27 26A EASTERN PERIPHERAL EXPRESSWA

DANKAUR-SIKANDRABAD ROAD Sector 17 A

Sector 26

Sec. 17 B Sector 17 Sector 25 Sector 16 Sector 22A

SectorSector 19 18 22B Sec. 15 Sec. 1 22C Sector Sec. 15A Sector 14

24 Sec 22D Sector 20 Sec. 15B Sec. 2 Sec. Sec. 13 15C Yamuna Expressway Sec 22E Sec. 12 Sec. 3 Sector 24A Sec. 35

Sec 22F Sector 21 Sec. 34 Sec. 11 Sec. 4

Y Sec. 33 Sec. 10 amuna Sector 28 Sec. 5 Sec. 23D

Sec. 23ASec. 23B

Expresswa Sec. 32 Sec. 9 Sec. 6 Sec. 23C Sector 29

Sec. 23E Sector 30 Sec. 31 Sec. 8 Sec. 7

y

PROPOSED NEW EXPRESSWAY FROM PALWAL TO KHURJA Noida R ealty According to Square Yards Global Intelligence Cell (GIC), the Noida real estate market can be split into five major micro-markets- Noida (East, West and Trends Central), Greater Noida, Greater Noida Extension, Noida-Greater Noida Expressway & Yamuna Expressway.

Mentioned below is the average capital value/ Sq. Ft along with launch & absorption for the various micro- markets mentioned in Noida region.

Avg. Capital Value per Sq.Ft. (INR) in 2015 7298

5669 4420 4159 3284

NOIDA GREATER GREATER NOIDA- YAMUNA NOIDA NOIDA GREATER EXPRESSWAY EXT.(WEST) NOIDA EXPRESSWAY Source: Square Yards GIC

New Launches & Absorption in Q3, 2015

5480 5304 Launches Absorption

2923 2512 1559 2398 1730 455 621 653

NOIDA GREATER GREATER NOIDA- YAMUNA NOIDA NOIDA GREATER EXPRESSWAY EXT.(WEST) NOIDA EXPRESSWAY Source: Square Yards GIC

It should be noted that Noida's realty market is also driven by its rising commercial sector. The total area allotted under the commercial sector is roughly 92 million Sq. Ft. Out of this, over 21 million Sq. Ft. has been utilized whereas over 41 million Sq. Ft. of area is under construction. Remaining will be utilized in the future. Noida (Central, East, North)

Key Locations: Sector 32, 51, 61, 62, 78, 121

· Noida provides huge opportunity for the end-users and it is also an attractive investment hub for the investors looking for return of more than 12%.

· The strategic location of Noida with world class infrastructure facilities like road networks, power distribution systems and social infrastructure like hospitals & education centres is constantly attracting developers to launch more projects in the region.

· The upcoming commercial hubs such as DLF – Mall of India, Wave City Centre and Unitech - Garden Galleria are expected to make this region attractive for buyers & investors.

· Key players in realty sector who have presence in Noida are Unitech, Antriksh, ATS, Supertech, Omaxe, Ambience & Exotica etc.

· Around 35.65% of the total area is allocated for residential development, 3.77% for commercial development, 20.05% for industrial development, 8.15% for institutional facilities, 14.78% for transport and remaining 17.60% for recreational and agricultural facilities. · Square Yards GIC indicates that in the previous 3 years' (per Sq. Ft.) prices have moved from INR 6,260 in 2012 to INR 7,298 in 2015- Over 17% price hike.

T r ends · Leading ecommerce grocery company 'Big Basket' took a space of 60,000 Sq. Ft. in sector 80 on lease. Like this, many other big brands such as Cognizant, Max Health Insurance and Timex acquired a space on lease in different locations of Noida.

Land Usage Breakup Avg. Capital Value per Sq.Ft. (INR)

0.8 7298

6.69 10.11 6862 35.65 6796 14.78

8.15 6260 20.05 3.77

Residential Commercial Industrial

Institutional Facilities Transportation Recreational Agriculture Water body 2012 2013 2014 2015 Source: Square Yards GIC Source: Noida Authority

Capital Value per Sq. Ft. (INR) Q-o-Q, 2015

8750 Q1 2015 Q2 2015 Q3 2015 8300 8300 8100 8100 7250 7800 7050 6950 6800 6550 6450 6250 5900 6200 5550 5600 5150

Sector 32 Sector 51 Sector 61 Sector 62 Sector 78 Sector 121 Source: Square Yards GIC · With good infrastructure, better Growth metro connectivity and prolific road network, Factors real estate development in the Noida micro- market are picking up fast.

· The upcoming Metro, DND Flyover and other infrastructural improvement projects such as widening of NH-24 and construction of Faridabad-Noida-Ghaziabad (FNG) corridor will enhance the connectivity thereby boosting the realty sector.

· Connectivity to industrial towns of Ghaziabad and will drive demand for residential units in Noida.

· The presence of numerous IT & ITES companies such as CSC, Adobe, Fujitsu, HCL & much more will enhance the job market thereby resulting in high demand for residential units in the coming time. Noida Expressway (Yamuna Expressway)

Key Locations: Sector 22D, 24, Jaypee Greens Sports City

· Yamuna Expressway is a six lane 165 km wide road that Land Usage Breakup connects Delhi and Agra. It has been built to reduce the travel time upto 50% between the two cities. 4.90% 5.80% · It is strategically surrounded by major cities NOIDA, Greater NOIDA, Faridabad, Khurja, Dadri, , , Agra etc. 19.50% 15.00% · The Yamuna expressway market is dominated by High- 5.40% rise and plotted developments. The projects are spread along the Yamuna expressway on either sides till Mirzapur village. 21.90% 20.00%

· Yamuna expressway further gained prominence after the construction of expressway and F1 racing track. 7.50%

· The F1 racing track is part of the Jaypee Sports city township and has attracted many developers in the Residential Commercial region. Industrial Institutional

· Key real estate players who have presence in this Greenbelts & Parks Transport micro-market are Jaypee, Supertech, Skyline, ATS, Orris & Ajnara etc. Mixed Use Sports City Source: Noida Authority · Around 19.5% of the total area is allocated for residential development, 5.4% for commercial development, 20.0% for industrial development, 7.5% for institutional development, 21.9% for Greenbelt and Parks, 15% for Transport and remaining 10.7% for Mixed Use & Sports City as seen in the figure. · Square Yards GIC indicates that in the previous 3 years' (per Sq. Ft.) prices have moved from INR 2,810 in 2012 to INR 3,284 in 2015- Over 17% price hike.

Trends · There has been a steady escalation in capital value of properties in Sector 22D & 24 in Q3, 2015 since April 2015 – Over 6.5% increase. Upcoming IT park near Yamuna Expressway is expected to generate innumerable job opportunities, proposed Jewar Airport and many numerous factors will add to the price rise.

Avg. Capital Value per Sq.Ft. (INR)

3284

3078 2981 2810

2012 2013 2014 2015 Source: Square Yards GIC

Capital Value per Sq.Ft. (INR) Q-o-Q, 2015

3070 3070 3075

3250 3250 3225 3200

3050 3000

Q1 2015 Q2 2015 Q3 2015

YEX Sector 22D YEX Sector 24 YEX Jaypee Greens Sports City

Source: Square Yards GIC Ÿ Yamuna Expressway is an upcoming investment location in the Noida region with luxury projects like Jaypee Sports City, Supertech Golf Country, Growth ATS Pristine, Orris Golf Country etc. Factors Ÿ Upcoming large scale commercial projects like the Export Promotion Zones and Taj Economic Zones are likely to push the economic development of this region, consequently giving a further boost to residential realty.

Ÿ The metro rail will run from the proposed metro station at Pari Chowk till Yamuna Expressway Sector 18 and 20. These are the first residential sectors developed by the authority and the presence of metro is expected to give push to the real estate traction in the coming time.

Ÿ The proposed Night Safari in Greater Noida will bring in tourist demand, eventually attracting commercial and residential development in the neighbouring areas such as Yamuna Expressway.

Ÿ The proposed 765 KVA Substation of 3000 MW capacity at Jahangirpur, Yamuna Expressway Industrial Development Region will provide 24-hour power back-up, thereby adding a great value to the residential units in the given micro-market. Greater Noida

Key Locations: Sector Chi V, Sector Pi, Sector Zeta I

· Greater Noida is an extension of Noida, a well-planned city with wide roads, underground cabling of electricity and proper drainage systems.

· It is planned and managed by Greater Noida Industrial Development Authority (GNIDA).

· According to the 2031 Master Plan, around 22.12% of the total area is allocated for residential development, 5.3% for commercial development, 14.52% for industrial development, 19.16% for institutional development, 22.1% for Green area, 7.37% for SEZ and remaining 9.43% for Transportation.

· The upcoming IT parks such as Supertech Software Park, Amrapali Tech Park, Stellar Business Park and Globus IT Park are expected to make this region more attractive for buyers & investors.

· Key real estate players who have presence in this location are Jaypee, Unitech, Ansal API, Parsvnath, Eldeco, Supertech etc.

· Square Yards GIC indicates that in the previous 3 years' (per Sq. Ft.) prices have moved from INR 3,237 in 2012 to INR 4,420 in 2015- Over 37% price appreciation.

Land Usage Breakup 9.43 7.37 22.12 Residential Commercial

5.3 22.1 Institutional Industrial 14.52 Green Area SEZ 19.16 Transportation & related use

Source: Noida Authority · The proposed metro line from Noida City Centre to Greater Noida is likely to Growth boost the connectivity of Greater Noida significantly. Factors · The close proximity to proposed Jewar Airport is likely to attract the investment activity in residential and commercial sectors.

· The plan to develop the 750-crore night safari project will boost the status of Greater Noida as a reputed tourist destination in Northern Parts of India.

· The Greater Noida Industrial Development Authority (GNIDA) has plans to set up its own power plant, which will provide uninterrupted power supply to the region.

· The attractive location of Buddh International Circuit will drive the demand for residential as well as commercial hubs in the nearby vicinity. This will also boost the employment opportunities, thereby further catalysing more residential sales in the near future.

Capital Value per Sq.Ft. (INR) Q-o-Q, 2015

4200 4200 4100 4000 3850 3700 3700 3625 3550

Q1 2015 Q2 2015 Q3 2015 Source: Square Yards GIC GN Sector Chi V GN Sector Pi GN Sector Zeta I

Avg. Capital Value per Sq.Ft. (INR) 4420 3876 3903 3237

2012 2013 2014 2015 Source: Square Yards GIC Greater Noida Extension (Greater Noida West)

Key Locations: Sector 4, Sector 16C, Techzone 4

· Noida Extension is the name given to the micro-market between Greater Noida & Noida. This region is also known as Greater Noida West. It is one of the fastest growing micro-markets of the NCR.

· It is a well-planned city in terms of infrastructure development with wide expressway roads (120-metre- wide) and internal sector roads (45 & 60 metre wide).

· The upcoming commercial hubs such as Earthcon - Regal Emporia, City Walk, RJ Group – Cyber City, Aarza Square and Galaxy Plaza are expected to make this micro-market attractive for buyers & investors.

· Key real estate players who have presence in this micro- market are Supertech, Amrapali, Antriksh, Trident, Cosmic, Paramount & Exotica etc.

· Square Yards GIC indicates that in the previous 3 years' (per Sq. Ft.) prices have moved from INR 2,728 in 2012 to INR 4,159 in 2015- Over 52% price hike.

· In the past one year, a significant jump of 32.62% in average capital value per Sq. Ft. has been observed from INR 3,136 in 2014 to INR 4,159 in 2015. · The proposed two Metro corridors, Noida Sector 71 to Noida Extension and Growth Okhla Bird Sanctuary to Noida Sector 142, will provide frequent & smooth Factors connectivity from Noida to Noida Extension. · The proximity to Noida and Ghaziabad is an added advantage for those working in these areas.

· Upcoming commercial spaces such as IT parks & business parks will drive demand in the coming time.

· Rich civic amenities & social infrastructure in the form of hospitals, police station, taxi stand, indoor & outdoor sports, clubs etc. make this micro-market attractive for buyers & investors.

Avg. Capital Value per Sq.Ft. (INR) 4159

3171 3136 2728

2012 2013 2014 2015 Source: Square Yards GIC

Capital Value per Sq.Ft. (INR) 4350 4350 4050 4050 3700 3700 3900 3900 3500

Q1 2015 Q2 2015 Q3 2015 Noida Ext Sector 4 Noida Ext Sector 16C Noida Ext Tech Zone 4 Source: Square Yards GIC Noida – Greater Noida Expressway

Key Locations: Sector 96, 107, 128, 137, 143, 150,

· Noida – Greater Noida Expressway connects the townships of Noida and Greater Noida. It starts at Sector15A of Noida and ends at the Alpha commercial belt in Greater Noida.

· This expressway is under expansion to the proposed Taj Economic Zone, International Airport and Aviation Hub along the Yamuna Expressway (Taj Expressway).

· The micro-market offers various developments like top premier educational institutes, 5-star hotels, shopping malls, hospitals and commercial hubs that add quality to the lifestyle of the people who move in.

· The upcoming commercial hubs such as NPX Noida, Supertech E-Square, Assotech Business Cresterra and Express Trade Tower are expected to make this micro-market attractive for buyers & investors.

· The Developer & Promoter fraternity considers this micro-market as having immense potential for residential and commercial developments and are lining up several projects over here.

· Key real estate players who have presence in this micro-market are Jaypee, Supertech, Omaxe, 3C, Antriksh, Unitech, Eldeco etc.

· Square Yards GIC indicates that in the previous 3 years' (per Sq. Ft.) prices have moved from INR 4,579 in 2012 to INR 5,669 in 2015- Over 24% price hike.

Avg. Capital Value per Sq.Ft. (INR)

5669 5274 5152 4579

2012 2013 2014 2015 Source: Square Yards GIC · With the government decision to clear the revised draft of the Okhla green zone in H1 2015, Noida can expect some traction in new launches and project Growth deliveries in the coming quarter.

Fact ors · The proposed extension of the Dwarka-Noida City Center metro to Pari Chowk will give direct connectivity to Delhi and other NCR areas. The project is expected to be completed by 2021.

· Full-fledged Intelligent Traffic System on highway & a traffic park will be built on 8 acres near Noida-Greater Noida Expressway sec 108.

Capital Value per Sq.Ft. Q-o-Q, 2015

7850 75507550 6550 64006450 5725 5675 545054505450 5575 5225 4950 5075 4900 4775 4850

Sector 96 Sector 107 Sector 128 Sector 137 Sector 143 Sector 150 Q1 2015 Q2 2015 Q3 2015 Source: Square Yards GIC Square Yards View

· To speed up the development activity, the Noida Authority is likely to issue the completion certificate to the ready projects.

· This will provide the much needed push to the buyers & investors intending to purchase property across the Noida real estate market.

· Residential launches will continue to remain strong in Noida and Greater Noida as this region offers affordable houses and good connectivity.

· The most attractive investment locations in Noida are Noida Extension, Noida – Greater No i d a E xp re s s way a n d Ya m u n a Expressway. These micro-markets are expected to see major traction of buyers and investors and witness more number of project launches in the coming years.

· Hosting of the and opening of the Yamuna Expressway has gave a fillip to the real estate development of these micro-markets.

· In the commercial segment, Grade-A office spaces and SEZs are expected to witness increased interest from office occupiers.

· Increased commercial activities will consequently drive the development lever of the housing sector, across both high & mid-end segment. Why Square Yards?

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