delhi report 8 x 8 final aw
TRANSCRIPT
THE RESIDENTIAL PROPERTY IN DELHI
GATEWAY TO
OCTOBER 2009
The true colour of India clads
the boisterous city of Delhi
in shades of high noted, sharp culture.
The capital of India is known for its loud life
and celebration; its inherent tradition of showmanship
and progress paving its way
into the fast track league of megapolises in the world.
And in the same vein of championing growth,
ICICI Home Finance Company
is proud to bring you the
an inside view at real estate opportunities in great city.
Allow us to take you through the great capital city
and showcase its great investment potentials
in the pages that follow.
Residential Property ReportDELHI
Delhi: A Fact File
Delhi, India's capital,is a sprawling city, along the banks of the Yamuna River, comprised of three areas:
Old Delhi, New Delhi, and the Delhi Cantonment. Archaeological excavations reveal the area was settled
as early as 1000 BC. Delhi, where an empire rose and fell before the dawn of history; where citadels of
emperors appeared and disappeared; a city of mysterious eternity whose old ruins proclaim a majestic
and imperial past and whose present pulsates vibrantly with the ever flowing life of India, became the
political, commercial, and cultural capital of a series of powerful empires.
The eternal Yamuna bears witness to the glorious and tumultuous 5,000 year old history of Delhi which
began with the creation of Indraprastha by the Pandavas and the transformation of this barren gift of the
Kauravas into an idyllic haven. A history which encompasses all the various kings and emperors who
fixed their royal citadels here - Indraprastha, Lal Kot, Quila Rai Pithora, Siri, Jahanpanah, Tughlakabad,
Ferozabad, Dinpanah, Delhi Sher Shahi or then Shahjahanabad. But, combined and integrated into one,
these 'new cities' have always been called Delhi and howsoever many names it may have acquired, Delhi
has always been intrinsically identified with power and imperial sway. There have been at least eight cities
around modern Delhi, and the old saying that whoever found a new city at Delhi will lose it has come true
every time -- most recently for the British who founded New Delhi in 1911.
The historic Purana Qila, which has stood witness to Delhi's rejuvenation, periods of anarchy, and the rise
& fall of empires, brings alive history of the capital. Delhi has seen the death of many empires and resisted
bloody attempts to eliminate her. Nadir Shah had ordered his soldiers to plunder and massacre Delhi.
It is said that he got so much wealth from Delhi that he was not able to carry in home. Abdali and Taimur
Lane were no different; they had tried their best to demolish the city of Delhi but it was some kind of
a boon which helped it to regain its lost glory each time Delhi was plundered.
Delhi was the focal point for the first war of independence in 1857. Though the revolt did not reach its
desired conclusion, Delhi became a thorn in the eyes of the British. Not only in ancient times or the
mediaeval period, Delhi has been the centre of any activity at all times. As the Britishers shifted their
capital from Calcutta to Delhi, all the activities during the freedom struggle were directed towards Delhi.
Thus, Delhi also bears the marks of the freedom struggle. The ultimate goal of the Azad Hind Fauz
during the freedom struggle was to capture Delhi and establish Swaraj. The slogan 'Dilli Chalo'
is still used by leaders and political parties when they organise any rally or demonstration.
It was the hoisting of the tricolor at Red Fort in Delhi which marked a chapter in the history of India.
Delhi, the National capital Territory, occupies an area of 1,483 sq. km. and has a population of nearly 14
million with the population of New Delhi alone exploding to 11,680,000. Delhi is considered to be the second
largest metropolitan city next to Mumbai with approximately 1,38,50,507 people dwelling in New Delhi,
according to Census 2001. In terms of population, it holds the top position among Union territories and
ranked eighteenth among all States and Union Territories in the country. Its population sharply rose by
46.31% during the decade 1991-2001 which was mainly due to the migration of people to the capital in
search of better standard of living.
Men-women ratio in Delhi has further widened when compared to 1991 Census. The sex ratio (i.e. the
number of females per thousand males) of population was recorded as 821, which has declined from 827
in the previous census. The total density of Delhi is 9340 per sq. km. The density of population in Delhi is
also the highest among all States and Union Territories.
Infrastructure
Delhi has seen major infrastructural changes over the past few years amidst increased foreign investment
and economic growth. The Delhi Metropolitan Area has been redefined comprising the National Capital
Territory of Delhi (NCTD), Ghaziabad-Loni Complex, Noida and Greater Noida-controlled area of Uttar
Pradesh, Faridabad-Ballabgarh Complex, Gurgaon, Bahadurgarh Kundli and the extensions of the Delhi
Ridge in Haryana.
Delhi NCR received an FDI investment of over USD 1456 million in the year 2008. Delhi NCR's infrastructure is
attracting MNCs and corporate bodies from all over the world. Information technology, BPOs and other
Financial and IT Services are among the growing industries in Delhi.
Recent developments and economical growth in Delhi have put the city on the global map competing with
other top notch cities in the world. Delhi has a much improved infrastructure with new roads, flyovers,
bridges, healthcare facilities, sanitation, etc.
Sighting the upcoming Commonwealth Games 2010, Delhi is geared up for transforming itself to a world
class city. Developments like Delhi Metro, flyovers, roads, high capacity buses, shopping malls, hotels and
Administrative Framework
Delhi has been divided into nine districts; each district headed by a Deputy Commissioner. Every district has
three sub-divisions; each sub-division being headed by Sub Divisional Magistrate. All the Deputy
Commissioners report to the Divisional Commissioner.
Population
Census population (millions) Average annual 1991 2001 growth rate (%) 1991-2001 by extrapolation (millions) 2009
09.42 13.85 3.78 18.63
Estimated population
townships reflect the growth of Delhi. Meanwhile, as part of its makeover plans for Delhi, the Planning
Commission has sanctioned Rs. 22,700 million in 2007 for its transportation network. This is 40% of the city's
budget of Rs. 52,000 million. By the year 2010, more hotels, a multi-modal transport system and a world-
class airport, nine museums, open-air theaters, light and sound shows, vastly improved civic services,
convention centres at Pragati Maidan, Yamuna diversity park of 457 acres, a metro link to the Nehru Stadium
and 38 high capacity bus corridors will be ready.
The Delhi Master Plan 2021 deviates from its predecessors to cater to a population of 23 million by 2021.
Vision 2021, integral to the Master Plan for Delhi aims to create a world-class city through a purposeful
transformation of the existing civic infrastructure. The government has outlined major proposals in Delhi
Master Plan-2021 (MPD 2021) which include major infrastructural changes in the city. Some of the main
proposals are extension of present commercial areas in Delhi, re-development in the form of new multi-
storied buildings and encouraging population shift to NCR.
Delhi Metro Rail:
The much awaited Metro has changed the transport facility of the city and has become the "life line" of Delhi
as people are dependent on Delhi Metro for commuting to different places within the city. Delhi Metro
Project has been recognized all over the world for its specialty in terms of a hi-tech rail and better equipped
transport system.
Greater Noida is all set to become the next destination for the Delhi Metro network; the project has a 2014
deadline. The Metro will be a further extension of the under-construction Noida line which connects the
existing Line 3 till Noida sector 32. This line will be operational by Oct 2009. The 29-km long Greater Noida
link will connect Noida sector 32 with Pari Chowk in Greater Noida. The proposed Metro line is going to run
along the Greater Noida expressway and will have stops at sector-50, sector-78, sector-101, sector-82, and
sector-92.
Delhi Airport: The Indira Gandhi International Airport is located 24 kilometers south of New Delhi and all
major airlines across the world operate flights to and fro from this airport.
Delhi Transport System: Delhi Transport Corporation (DTC) is one of the main transportation mediums in
Delhi. The service has come a long way since its inception in the year 1984. DTC plies all round Delhi with
buses at frequent intervals to ease the commuting of passengers. DTC is the world's largest compressed
natural gas bus service. Apart from the bus service of the DTC, the private Blue Line services are also
operational.
Delhi is well connected to other parts of India by five National Highways: NH 1, 2, 8, 10 and 24. However the
increasing traffic and congestion has paved the proposal for an expressway.
There are two expressways proposed -
• Kundli-Manesar-Palwal Expressway (135 km stretch) – This is on the western side of Delhi, hence is
proposed to be termed as WESTERN PERIPHERAL EXPRESSWAY. The expressway will take off from NH1
at Kundli and will join NH2 at Palwal via Manesar connecting NH8 and NH10. Construction work has
already started.
• Faridabad-Noida-Ghaziabad (FNG) Expressway Corridor (105 km stretch) - It passes through Haryana
and UP. To be termed as EASTERN PERIPHERAL EXPRESSWAY. The expressway will take off at Kundli
and will join NH2 at Faridabad via Ghaziabad and Noida, connecting NH24.
• It would act as a ring road to NCR. The expressways once completed would link areas of Kundli, Manesar,
Palwal with Gurgaon, Faridabad, Noida & Ghaziabad.
• Construction work started for Northern and Southern Peripheral roads - being planned to decongest traffic
on NH8. Once the project is completed, traffic bound for Dwarka and IGI Airport from Gurgaon and Jaipur
will have the option to skip NH-8.
• 16 km long Northern Peripheral Expressway (NPE) connects NH-8 (Gurgaon Expressway) with Dwarka.
The 150-meter wide (eight-lane) expressway was planned in the Gurgaon Master Plan 2021 and would be
the widest expressway in NCR with 30 meters of green belt alongside.
A number of private developers have acquired licenses from the Haryana government to develop townships
all along this expressway that would connect the proposed Southern Peripheral Expressway (SPE) on the
other side of the Gurgaon Expressway. The six-lane SPE would connect Gurgaon Expressway with
Faridabad Road and MG Road.
• The proposed 25,000-acre Reliance Industries Limited (RIL) promoted special economic zone (SEZ)
promises to change the face of the road. To be set up on land stretching along Garhi Harsuru near Manesar
and Badli on the Farrukhanagar-Jhajjar road, when complete in 5-10 years, India's largest SEZ promises
to catalyse investments up to Rs. 1,000,000 million. Kundli-Manesar-Palwal Expressway will also cut
through NH-8, fuelling rates in Bhiwadi, Neemrana and even in the outskirts of the Pink City, Jaipur.
SEZ Update
Details of the SEZs located in Delhi are tabulated below:
Sr. Area No. (in hectares)
1 Aachvis Softech Pvt. Ltd. Noida IT/ITES 10.05
2 Airmid Developers Limited. Gurgaon IT/ITES 11.66
3 Anant Raj Industries Ltd. Sonepat IT/ITES 10
4 Ansal IT City and Parks Limited Greater Noida IT/ITES 30.41
5 Ansal Kamdhenu Engineering SEZ Ltd. Sonepat Engineering 101.24
6 Ansal SEZ Projects Limited Gurgaon IT/ITES 10.88
7 Ascendant Estates Private Limited Gurgaon IT/ITES 12.59
8 Canton Buildwell Pvt. Ltd. Gurgaon IT/ITES 10.16
9 DLF Cyber City Developers Ltd. Gurgaon IT/ITES 10.73
10 DLF Limited Gurgaon IT/ITES 12.06
11 DLF Limited Sonepat IT/ITES 10.25
12 Dr. Fresh Health Pvt. Ltd. Gurgaon IT/ITES 23.43
13 G. P. Realtors Private Limited Gurgaon IT/ITES 18.86
14 Gallant Infrastructure Pvt. Ltd. Greater Noida IT/ITES 33.21
15 GHI Finlease and Investment Ltd. Gurgaon IT/ITES 12.93
16 Golden Tower Infratech Pvt. Ltd. Noida IT/ITES 10
17 Gurgaon Infospace Ltd. Gurgaon IT/ITES 11.2
18 HCL Technologies Limited Noida IT/ITES 16.91
19 IVR Prime IT SEZ Pvt. Ltd. Noida IT/ITES 10
20 Jubliant Infracon Pvt. Ltd. Noida IT/ITES 10.17
21 Luxor Cyber City Pvt. Ltd. Gurgaon IT/ITES 27.8
22 Mayar Infrastructure Development Pvt. Ltd Gurgaon Biotechnology 12.5
23 Mayar Infrastructure Development Pvt. Ltd Gurgaon Biotechnology 25.71
24 Metro Valley Business Park Private Limited Gurgaon IT 10.39
25 Mohan Investments and PropertiesPrivate Limited Gurgaon IT/ITES 27.9
26 Moser Baer India Limited Greater Noida Non-Conventional Energy 11.9
27 NIIT Technologies Limited SEZ Greater Noida IT/ITES 10.2
28 Orient Craft Infrastructure Ltd. Gurgaon Textiles 135.27
Name Location Type
Source: Ministry of Commerce & Industry, Dept. of Commerce
29 OSE Infrastructure Limited Noida IT/ITES 10.11
30 Parsvnath SEZ Ltd. Gurgaon IT/ITES 42.7
31 Perfect IT SEZ Pvt. Ltd. Noida IT/ITES 10
32 Perpetual Infracon Pvt. Ltd. Faridabad IT/ITES 21.7
33 Progressive Buildstate Pvt. Ltd. Gurgaon IT/ITES 29.93
34 Raheja Haryana SEZ Developers Pvt. Ltd. Gurgaon Engineering 103.01
Electronics35 Sarv-Mangal Noida Hardware & 10.05
Realtech Pvt. Ltd. Softwareincluding IT/ITES
36 Seaview Developers Limited Noida IT 12
Main37 Selecto systems Pvt. Ltd. Mathura IT/ITES 3.34
RoadFaridabad
38 Suncity Haryana SEZ Developers Pvt. Ltd. Gurgaon IT 67.64
39 Sunwise PropertiesPvt. Ltd. Gurgaon IT/ITES 10.13
40 Unitech Hi-tech Projects Pvt. Ltd. Noida IT/ITES 10.08
41 Unitech Infra Con Ltd. Noida IT/ITES 20.23
42 Unitech Realty Projects Ltd. Gurgaon IT/ITES 10.04
43 Uppal Developer Private Limited Gurgaon Multiservices 106.31
44 WIPRO Limited Greater Noida IT/ITES 20.23
The Reliance Haryana SEZ at Gurgaon and Jhajjar joint venture agreement between Reliance Ventures Ltd.
(a 100 per cent subsidiary of Reliance Industries Ltd.) and the Haryana State Industrial Development
Corporation (HSIDC) was signed on June 19, 2006, for setting up a multi-product mega special economic
zone over 25,000 acres in Gurgaon-Jhajjar in Haryana (that was later bifurcated into two SEZs — 12,500 acres
each at Gurgaon and Jhajjar). The land acquiring process has been started for the SEZ.
This 10,000-hectare Reliance SEZ, billed to be the largest in the country, with connectivity to the Kundali-
Maneswar-Palwal (KMP) Expressway in Haryana and the Delhi-Jaipur National Highway, will have its own
airport and rail-line. The SEZ will have its own power generation plant meeting its requirements of 400 MW.
The layout of the Rs. 250,000 million SEZ will be such that it caters to the basic, social, industrial and
residential infrastructure in a manner that each of the areas would be self-sufficient in terms of the basic
amenities of banks, schools, post offices, police and transport infrastructure. The plan, according to Reliance
Industries, includes internal development of roads, water supply, power generation and supply and
sewerage.
Major Locations within Delhi
Bordered by Haryana in the east and by Uttar Pradesh across the river Yamuna, the location of Delhi is such
that a major part of the city falls on the western side of the Yamuna River.
Delhi can be divided in six locations: Central Delhi, East Delhi, West Delhi, South Delhi, North Delhi and NCR
Satellite Towns (Gurgaon, & Faridabad in Haryana and Noida, Greater Noida, & Ghaziabad in Uttar Pradesh).
With the inception of NCR Satellite Towns, Delhi has been relieved of the burden of growing demands from
corporate bodies and government establishments.
5%
2%5%
2% 2% 2%
82%
Distribution of SEZ Types
IT/ITES
Electronics Hardware
Engineering
Biotechnology
Non-Conventional Energy
Textiles
Multiservices
DELHI
Pitampura Model Town
KashmeriGate
Karol Bagh
ConnaughtPlace (CP)
HauzKhaz
VasantVihar
SouthExtension
GreenPark
Gurgaon
DaryaGanj
Faridabad
PreetVihar
Anand Vihar
Noida
Dwarka
Tilak Nagar
Janakpuri
RajouriGarden
PunjabiBagh
Patel NagarGaziabad
Greater Noida
City Map
West Delhi
Central Delhi
North Delhi
East Delhi
South Delhi
Note: Map not to scale and is for illustration purposes only.
Organised Retail Development
Presently there are 65 operational malls in Delhi NCR region spread across 23.7 million sq. ft. Two thirds
of the operational mall space is concentrated in Delhi and Gurgaon. Additional mall space of around
19.4 million sq. ft. is expected by end of 2012.
Delhi NCR Mall Space Distribution
0.0
2.0
4.0
6.0
8.0
10.0
12.0
14.0
16.0
Delhi Gurgaon Faridabad Noida Gr. Noida Ghaziabad
Mall
Sp
ace
inM
illio
nsq
.ft.
Operational Proposed/Under Construction
Details of malls in Delhi NCR are tabulated below:
1 Ansal Plaza Delhi 0.20 Operational
2 City Square Delhi 0.30 Operational
3 Courtyard Delhi 0.60 Operational
4 Cross River Mall Delhi 0.25 Operational
5 DT City Centre Delhi 0.25 Operational
6 Inderlok Metro Delhi 0.20 Operational
7 Mega Mall- Shahdara Delhi 0.40 Operational
8 Metrowalk Delhi 0.22 Operational
9 MGF Metropolitan Delhi 0.50 Operational
10 North Square Mall Delhi 0.06 Operational
11 Pacific (Rajouri Garden) Delhi 0.60 Operational
Site LocationSr. No. Mall NameTotal Area
in million sq. ft. Status
12 Select City Walk Delhi 0.50 Operational
13 Shahdara Metro Delhi 0.15 Operational
14 Shop'in Park - North Delhi 0.30 Operational
15 South Court Delhi 0.40 Operational
16 Southern Park Delhi 0.25 Operational
17 StarCity Mall Delhi 0.25 Operational
18 TDI Mall Delhi 0.20 Operational
19 TDI Paragon Delhi 0.15 Operational
20 V3S East Centre Delhi 0.45 Operational
21 V3S Rohini Dist Centre Delhi 0.40 Operational
22 Vasant Square Delhi 0.25 Operational
23 Wedding Souk Delhi 0.15 Operational
24 West Gate Delhi 0.50 Operational
25 Ansal Crown Plaza Faridabad 0.15 Operational
26 City Mall Faridabad 0.20 Operational
27 Crown Interiorz Faridabad 0.70 Operational
28 Destination Point Faridabad 0.20 Operational
29 Eldeco Station1 Faridabad 0.25 Operational
30 Eros EF3 Mall Faridabad 0.25 Operational
31 Eros E-Square Mall Faridabad 0.25 Operational
32 Pristine Mall Faridabad 0.20 Operational
33 SLF Mall Faridabad 0.20 Operational
34 SRS World Faridabad 0.15 Operational
35 Aditya Mega Mall Ghaziabad 0.50 Operational
36 AEZ Carnival Country Mall Ghaziabad 0.35 Operational
37 Ansal Plaza (Factory Outlet Mall) Ghaziabad 0.20 Operational
38 East Delhi Mall (EDM) Ghaziabad 0.30 Operational
39 Galaxie Ghaziabad 0.15 Operational
40 MMX Mall Ghaziabad 0.20 Operational
41 Pacific Ghaziabad 0.50 Operational
42 Shipra Mall Ghaziabad 0.45 Operational
43 Shopprix Mall Ghaziabad 0.10 Operational
44 The East End Mall Ghaziabad 0.25 Operational
45 Ansal Plaza Gr. Noida 0.75 Operational
46 Ambi Mall Gurgaon 1.80 Operational
47 Ansal Plaza Gurgaon 0.15 Operational
48 Central Plaza Gurgaon 0.25 Operational
49 City Centre Gurgaon 0.26 Operational
50 Gold Souk Gurgaon 0.18 Operational
51 Grand Mall Gurgaon 0.23 Operational
52 Gurgaon Central Gurgaon 0.25 Operational
53 JMD Arcade Gurgaon 0.25 Operational
54 JMD Regent Mall Gurgaon 0.23 Operational
55 Mega City Gurgaon 0.20 Operational
56 Mega Mall Gurgaon 2.75 Operational
57 MGF Metropolitan Mall Gurgaon 0.25 Operational
58 MGF Plaza Gurgaon 0.15 Operational
59 Omaxe Plaza Gurgaon 0.25 Operational
60 Sahara Mall Gurgaon 0.23 Operational
61 Star Mall Gurgaon 0.28 Operational
62 Wedding Mall Gurgaon 0.17 Operational
63 CentreStage Mall Noida 0.30 Operational
64 Spice World Noida 0.25 Operational
65 The Great India Place Noida 1.40 Operational
66 Ambi Mall Delhi 0.80 Completed but not operational
67 Citadel Delhi 0.17 Completed but not operational
68 DLF Vasant Place Delhi 0.90 Completed but not operational
69 Galleria Delhi 0.20 Completed but not operational
70 North Gate Orbit Plaza Delhi 0.20 Completed but not operational
71 Shop'in Park - East Delhi 0.09 Completed but not operational
72 V3S Ring Road Mall Delhi 0.30 Completed but not operational
73 Eros market place Ghaziabad 0.20 Completed but not operational
74 Jaipuria Sunrise Mall Ghaziabad 0.20 Completed but not operational
75 City Mart Gurgaon 0.20 Completed but not operational
76 ILD Trade Center - Sohna Road Gurgaon 0.10 Completed but not operational
77 Plaza Gardenia Gurgaon 0.25 Completed but not operational
78 Ashiana City Mall Ghaziabad 0.20 Proposed
79 I Mall Gr. Noida 0.50 Proposed
80 Niho Mall Gurgaon 0.25 Proposed
81 Salcon Mall Gurgaon 0.25 Proposed
82 Gardens Galleria Noida 0.55 Proposed
83 Akshardham Metro Mall Delhi 0.40 Under Construction
84 Azadpur Metro Mall Delhi 0.30 Under Construction
85 Capitol City Mall Delhi 0.15 Under Construction
86 MGF Khyber Pass Delhi 0.40 Under Construction
87 Gardenia Sky Mall Faridabad 0.25 Under Construction
Source: ICICI Property Services
88 MB Mall Faridabad 0.50 Under Construction
89 Aerens Europark Ghaziabad 0.75 Under Construction
90 Angel Mall Ghaziabad 0.35 Under Construction
91 Celebration Mall Ghaziabad 0.30 Under Construction
92 D Mall Ghaziabad 0.20 Under Construction
93 Express Mall Ghaziabad 0.15 Under Construction
94 Express Plus Mall Ghaziabad 0.15 Under Construction
95 Mahagun Metro Mall Ghaziabad 0.35 Under Construction
96 One Mall Ghaziabad NA Under Construction
97 Parsvnath Majestic Arcade Ghaziabad 0.18 Under Construction
98 Grand Venezia Gr. Noida 0.50 Under Construction
99 MSX Mall Gr. Noida 0.50 Under Construction
100 NRI City Centre Gr. Noida 0.13 Under Construction
101 Omaxe Connaught Place Gr. Noida 1.00 Under Construction
102 Gurgaon Mall Gurgaon 0.40 Under Construction
103 House2Home Gurgaon 0.20 Under Construction
104 JMD Galleria Gurgaon 0.20 Under Construction
105 Landmark Mall, Sect 66 Gurgaon 0.30 Under Construction
106 Mall of India Gurgaon 3.60 Under Construction
107 MGF Metropolis Gurgaon 0.50 Under Construction
108 Orchid Agora Gurgaon 0.17 Under Construction
109 Platinam Spaze Gurgaon 0.04 Under Construction
110 Raheja Mall Gurgaon 0.15 Under Construction
111 Senior Mall Gurgaon 0.13 Under Construction
112 South Point Gurgaon 0.14 Under Construction
113 Townsquare Noida 1.70 Under Construction
43.10Total Area in sq. ft. (Million)
Source: ICICI Property Services
Distribution of residential supply in the pipeline across Delhi NCR
Distribution of Residential Supply (No. of Units)
Delhi Noida Gurgaon Gr. Noida Faridabad Ghaziabad
32%
12%11%
16%
25%
4%
Supply of Residential Units coming up by December 2012
Residential space in Delhi seems to have exhausted, and hence whatever limited supply that is coming up commands a relatively very high price tag. Satellite towns such as Gurgaon, Ghaziabad, and Gr. Noida are where most of the supply is concentrated. More than one third of the upcoming residential supply, both in terms of units as well as and floor space, would be in Gurgaon. Price wise, Faridabad & Ghaziabad are the cheapest. Gurgaon & Noida are the costliest because of good infrastructure and employment opportunities. Gurgaon and Noida have become the hub for outsourcing industry. The total supply ready by 2012 in Delhi NCR would be around 186 million sq. ft.
Total Supply by Dec 2012(in million sq. ft.)
Total Delhi NCR 105714 185.78
Delhi 4700 8.51
Gurgaon 33689 64.77Faridabad 13000 23.15
Noida 11605 20.48Gr. Noida 16449 28.69Ghaziabad 26271 40.18
Location No. of Units
Some of the Residential Projects in Delhi
Residential Market in Delhi
Source: ICICI Retail Property Services
Average Capital Value (in Rs. / sq. ft.) 10000
Average Apartment Size (in sq. ft.) 1900
Total Supply (in no. of units) by Dec. 2012 4700
Total Supply (in mn. sq. ft.) by Dec. 2012 8.51
Delhi
With a population of over 15 million, Delhi is one of the largest cities in the world.
Delhi Metro has changed the face of the national capital. Metro route, having been extended beyond Delhi boundaries to places such as Faridabad, Gurgaon, Noida, and Ghaziabad, has made commuting easy in the NCR region.
The 2010 Commonwealth Games are scheduled to be held in New Delhi, in October 2010. This will be the largest multi-sport event conducted to date in Delhi and India generally, which has previously hosted the Asian Games in 1951 and 1982.
Delhi already has many international features of a modern and well-planned city. However, to get ready for the huge influx of tourists visiting Delhi during the Games, the Government of India has taken many steps to improve the city. This includes city beautification, transportation development, upgrading of many old structures etc. Many five stars hotels/ service apartments, expressways, flyovers and metro works have already been awarded & construction works are going on in full swing.
Source: ICICI Retail Property Services
Capital Values for No. of 2 BHK as on July 2009 Units Completion
Commonwealth Games village MGF
La Tropicana Parsvnath Rs. 2.5 Cr onwards (3 BHK) 450 July 2012
Capital Greens DLF Rs. 65 lacs onwards 1400 Apr 2012
Queen's Court DLF Rs. 9.54 Cr onwards (4 BHK) 21 Dec 2010
Victoria Garden M2K Rs. 1.40 Cr onwards (2 BHK) 262 Dec 2009
Date of
Emaar
DeveloperProject
Rs. 1.84 Cr onwards 1158 Dec 2009
Residential Property Rates in prime residential markets in North Delhi
Source: ICICI Property Services
Note: Rates mentioned are land rates
Location Average Capital Values (Rs./sq. ft.) Outlook
Pitampura 18800 R
Rohini 12000 S
Rohini (Built-up rate) 3800-7000 SS
Ashok Vihar 18500 R
Model Town 15600 SW
Civil Lines 11200 SS
Pritampura Rohini Ashok Vihar
Source: ICICI Mortgage Valuation Group (Assuming 100 as a base reference no. for March 2005)
Property Price Movement Index (March 2005 – June 2009)
Property Price Index: North Delhi
50
100
150
200
250
0
Mar
2005
Mar
2006
Mar
2007
Jun
2007
Sept
2007
Dec
2007
Mar
2008
Jun
2008
Sept
2008
Dec
2008
Mar
2009
Jun
2009
North Delhi
North Delhi is counted amongst the most crowded area of the Delhi and beholds region like Delhi Gate, Kashmere Gate, Darya Ganj, Model Town, Pitampura and Civil Lines. The area also beholds chaotic market of Paharganj and one of the famous campuses - Delhi University. North Delhi houses many recreational facilities, hospitals, accommodations that make this place one of the best places to live in. ISBT(Inter State Bus Terminal), Sarai Rohilla, Kishan Ganj, Subzi Mandi, Old Delhi Railway Station, first underground metro has started in North District of Delhi. From Model town, you can easily get the GT Karnal Road and get linked with Haryana and then Punjab.
All the major locations of the area except some pockets of Rohini have witnessed plotted development with self constructed low rise residential units. The plots in these localities are very big in size, thus have a very high ticket size for resale transactions.
Outlook Key: R - Rising • F - Falling • S - Stagnant • SW - Stagnant but likely to weaken • SS - Stagnant but likely to strengthen
South Delhi
South Delhi is an administrative district of the National Capital Territory of Delhi in India. South Delhi has
the most posh colonies in Delhi and boasts of location such as Vasant Vihar, Anand Niketan, Golf Links,
Chanakyapuri, Panchsheel, GK I & II, Jorbagh, Safdarjung, South Extension and Lajpat Nagar. It has some
of the city’s best stores, hotels, infrastructures, tourists attractions, markets, historical monuments,
restaurants and nightspots.
The residential units are bungalows, independent floors, or DDA (Delhi Development Authority) flats. South
Delhi is a mature market dominated by resale transactions. This is mainly an end user market hence although
the transaction volumes are low, the value is high.
North Delhi
North (A) North (R&L)
0
50
100
150
200
250
300
350
400
450
Mar
2005
Mar
2006
Mar
2007
Jun
2007
Sept
2007
Dec
2007
Mar
2008
Jun
2008
Sept
2008
Dec
2008
Mar
2009
Jun
2009
Comparison of actual (A) and real & logical (R&L) price movement
The real & logical (R&L) price is considered to move in line with the consumer price index. Below table brings
out a comparison between quarterly property price movements and changes in consumer price index for
North Delhi. Since zone wise inflation data is not available we have substituted the Delhi inflation figures
for each zone.
North Delhi shows less disparity between the actual property prices and the real & logical prices, though the
deviation has been on the rise over last two years, as the property prices have increased at almost double
the rate as compared with the real & logical prices.
Residential Property Rates in prime residential markets in South Delhi
Source: ICICI Property Services
Note: Rates mentioned are based on Built-up area & are subject to amenities, upkeep & may vary from apartment to apartment within the same building.
Location Average Capital Values (Rs./sq. ft.) Outlook
Prithviraj Road / Aurangzeb Road 36000-39000 SS
Chankyapuri 36000-39000 SS
Golf Links 37000-40000 SS
Sundar Nagar 30000-35000 SS
Jorbagh 30000-35000 SS
Shantiniketan / Westend 28000-32000 SS
Vasant Vihar / Anand Niketan 28000-32000 SS
Panchsheel 22000-25000 SS
Anand Lok / Niti Bagh 20000-23000 SS
Maharani Bagh / Friends Colony 16000-18000 SS
GK I / GK II / South Ex 16000-18000 SS
Vasant Kunj 8000-8500 SS
Source: ICICI Mortgage Valuation Group (Assuming 100 as a base reference no. for March 2005)
Property Price Index: South Delhi
0
100
200
300
400
500
600
Property Price Movement Index (March 2005 – June 2009)
Chanakya Puri Lajpat Nagar Greater Kailash Safdarjung Vasant Kunj
Mar
2005
Mar
2006
Mar
2007
Jun
2007
Sept
2007
Dec
2007
Mar
2008
Jun
2008
Sept
2008
Dec
2008
Mar
2009
Jun
2009
Outlook Key: R - Rising • F - Falling • S - Stagnant • SW - Stagnant but likely to weaken • SS - Stagnant but likely to strengthen
Comparison of actual (A) and real & logical (R&L) price movement
The real & logical (R&L) price is considered to move in line with the consumer price index. Below table brings
out a comparison between quarterly property price movements and changes in consumer price index for
South Delhi. Since zone wise inflation data is not available we have substituted the Delhi inflation figures for
each zone.
Below chart depicts that the gap between the actual property price points and the real & logical prices in
South Delhi have constantly widened over the last couple of years.
South Delhi
South (A) South (R&L)
50
100
150
200
250
300
350
400
450
0 Mar
2005
Mar
2006
Mar
2007
Jun
2007
Sept
2007
Dec
2007
Mar
2008
Jun
2008
Sept
2008
Dec
2008
Mar
2009
Jun
2009
Source: ICICI Property Services
East Delhi
Yamuna River in Delhi divides the city into two parts. The part of Delhi that falls on the eastern side of the river
is often referred to as East Delhi. This region is better known as the trans Yamuna area and comprises regions
like Preet Vihar, Mayur Vihar, Gandhi Nagar, Vivek Vihar and Shahadara. Most of the old residential colonies
here are closely packed with narrow busy lanes. After the consistent efforts of State Government, there are
now better roads and well established residential areas.
It is bounded by the Uttar Pradesh border comprising Noida and Ghaziabad. Common Wealth Games will
take place in East Delhi. There is a healthy mix of societies, DDA flats and bungalows. Crowded with a
number of small and big shops, this place is considered as one of the best commercial hubs in Delhi. Mayur
Vihar Zone and Patparganj Zone are the key areas of East Delhi.
Source: ICICI Property ServicesNote: Rates mentioned are based on Built-up area & are subject to amenities, upkeep & may vary from apartment to apartment within the same building.
Location Average Capital Values (Rs./sq. ft.) Outlook
Mayur Vihar 5000-5500 SS
Patparganj 5000-5500 SS
Residential Property Rates in prime residential markets in East Delhi
Outlook Key: R - Rising • F - Falling • S - Stagnant • SW - Stagnant but likely to weaken • SS - Stagnant but likely to strengthen
Property Price Index: East Delhi
Source: ICICI Mortgage Valuation Group (Assuming 100 as a base reference no. for March 2005)
Mayur Vihar Zone Patparganj Zone
Comparison of actual (A) and real & logical (R&L) price movement
The real & logical (R&L) price is considered to move in line with the consumer price index. Below tablebrings out a comparison between quarterly property price movements and changes in consumer priceindex for East Delhi. Since zone wise inflation data is not available we have substituted the Delhi inflation figures for each zone.
The actual property prices in East Delhi have consistently exceeded the real & logical prices over a periodof years.
20
40
60
80
100
120
140
160
180
200
Property Price Movement Index (March 2005 – June 2009)
0 Mar
2005
Mar
2006
Mar
2007
Jun
2007
Sept
2007
Dec
2007
Mar
2008
Jun
2008
Sept
2008
Dec
2008
Mar
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Jun
2009
East Delhi
East (A) East (R&L)
0
50
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150
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250
300
350
400
450
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2005
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2006
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2007
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2007
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Jun
2009
West Delhi
Administratively, the district is divided into three subdivisions: Patel Nagar, Rajouri Garden, and Punjabi Bagh. Most of the areas under western part of Delhi are shopping area. From designer wears to furnishings and lights, this place is famous for the market it owns.
Major residential and commercial areas like Janakpuri, Dwarka, Punjabi Bagh, Tilak Nagar are located in West Delhi. The region is well located and has connectivity with Metro, Rail and Road. Rajouri Garden area of West Delhi is witnessing large scale construction of Shopping Malls. Janakpuri is considered one of the best residential colonies of West Delhi.
DLF Capital Greens, Shivaji Marg Delhi, is a landmark project coming up right in the heart of the city spread over 38 acres of land. The project is surrounded by more than 100 acres of green forest land maintained by DDA. Possession of the project is expected by mid of 2012.
Dwarka, The Subcity
The subcity is located in southwest Delhi in the vicinity of International and Domestic airports.With the unavailability of land in rest of Delhi, Dwarka has become an apparent choice for real estate investment in the region.
The opening up of 4-lane Dwarka flyover in 2006 has provided for better connectivity to the subcity by enabling non-stop movement of traffic from Palam to Dwarka Sector 1 and 2. There are in all 29sectors in Dwarka, out of which 23 are almost developed and Sector 24, 25 and 26 are under development. Dwarka has a robust and well connected road network built to modern specifications to each of itssectors and adjoining areas. The subcity will be connected to the mother city by 4 major roads fromall directions. It is bounded by NH-8, Outer Ring Road, Najafgarh Road, Pankha Road, and the Rewarirailway line.
The subcity is well connected by Metro rail with the city center and other major parts of the city. There are a total of 8 metro stations in Dwarka and two more under construction (the highest for any colony). After Chanakya Puri, New Delhi's second diplomatic enclave is to come up in Sectors 26 to 29, planned to house embassies of at least 39 nations. Delhi's 5th and the largest Inter State Bus Terminus (ISBT) is coming at Sector 23. India's largest Exhibition and Convention Center to be built by DLF in Sector 24 by 2010. 7 Sports Complexes have been planned in the subcity, of which 1 has been constructed by DDA and is fully functional. Several 5 and 7 star hotels have also been planned across the subcity, most likely to come up before the Commonwealth Games in 2010.
Residential Property Rates in prime residential markets in West Delhi
Location Average Capital Values (Rs./sq.ft) Outlook
Janakpuri 17250 SS
Dwarka (Built-up rate) 5000-5500 S
Punjabi Bagh 15700 SS
Paschim Vihar 15200 R
Saraswati Vihar 18500 R
Kohat Enclave 19000 R
Meera Bagh 15500 R
RBI Enclave 14500 R
Bhaera Enclave 14500 SS
Guru Har Kishan Nagar 14200 SS
Vikaspuri 13800 SW
Shivaji Enclave 13500 SS
Rajouri Garden 14500 SS
Hari Nagar 13800 R
Kirti Nagar 14200 R
Ramesh Nagar 11500 SS
Outlook Key: R - Rising • F - Falling • S - Stagnant • SW - Stagnant but likely to weaken • SS - Stagnant but likely to strengthen
Source: ICICI Property ServicesNote: Rates mentioned are land rates.
Mar
2005
Mar
2006
Mar
2007
Jun
2007
Sept
2007
Dec
2007
Mar
2008
Jun
2008
Sept
2008
Dec
2008
Mar
2009
Jun
2009
Comparison of actual (A) and real & logical (R&L) price movement
The real & logical (R&L) price is considered to move in line with the consumer price index. Below table brings out a comparison between quarterly property price movements and changes in consumer price index for West Delhi. Since zone wise inflation data is not available we have substituted the Delhi inflation figures for each zone.
The gap between the actual property prices and the real & logical prices has steadily widened over the years.
Janakpuri Rohini
50
100
150
200
250
Source: ICICI Mortgage Valuation Group (Assuming 100 as a base reference no. for March 2005)
Property Price Index: West Delhi
Property Price Movement Index (March 2005 – June 2009)
West Delhi
West (A) West (R&L)
0
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350
400 450
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2007
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2009
0
NCR Satellite Towns
The e-commerce industries in NCR have Noida and Gurgaon as their base cities with maximum number of IT
companies having their headquarters in these areas. The area also witnesses huge immigration for
employment opportunities.
NCR towns Gurgaon and Faridabad coming under Haryana have been granted permission for the
registration of independent residential floors as independent dwelling units by the Haryana government by
issuing two ordinances, "The Haryana Development and Regulation of Urban Areas (Amendment)
Ordinance, 2009" and "The Haryana Urban Development Authority (Amendment) Ordinance, 2009". This
could lead to increase in number of projects which offer an option to possess independent floors.
NCR towns of Noida, Greater Noida and Ghaziabad come under Uttar Pradesh government’s jurisdiction.
After Noida, Ghaziabad is also emerging as a favourable destination owing to significantly lower property
rates, as compared to the other suburbs in the NCR.
Gurgaon
Over the past 20 years, the city has grown tremendously as a manufacturing, outsourcing and shopping
destination due to its world-class infrastructure at competitive prices and its strategic location (connected to
Delhi Airport via a private Expressway, Mundra Port via railway, and New Delhi via Delhi Metro). A plethora of
BPOs, KPOs and shopping malls dot the cityscape. Quick access from Delhi due to completion of the
widening and conversion of the 28 km Delhi to Gurgaon expressway section of the National Highway (NH-8)
into a six-to-eight lane access controlled highway on a Build, Operate, and Transfer (BOT) basis. Work on
KMP Expressway (Kundli-Manesar-Palwal) has started and will be coming up soon. Almost 52 SEZs are
already approved in Haryana. Manesar, Dharuhera, Bhiwadi, and Riwadi are few cities coming up along NH8.
Global Health's “Medanta-Medicity” the Super Specialty Tertiary Care Hospital with a capacity of 1,250 beds
envisaging an investment of over Rs. 9,000 million, promoted by renowned cardiologist Naresh Trehan, will
start operations from October 2009. The first phase would be operational with 600 beds and by the end of
2010 would start operating at the full capacity.
Fortis Healthcare Medicity, being built in Gurgaon, is set to open with three centres of excellence by October
2010. The project, which aims to set up a 1000 beds multi-specialty hospital for the fast growing hospital
chain, Fortis Healthcare, will have nearly 400 beds for three centres of excellence - oncology, trauma care
and paediatric care - in the first phase of operations. The medicity will include medical care facilities for all
diseases, plus super speciaity hospital conforming to international scale and standards at Gurgaon in Delhi.
The name of the medicity will be Fortis Healthcare International Institute of Medical Sciences (FIIMS).
There are more number of high end apartments in Gurgaon than in any other area of NCR. Major builders in
the area include DLF, Unitech, Ansals, MGF, Parsvnath, Vipul, Vatika, Ambience, Sun city & Omaxe.
Capital Values for No. of 2BHK as in July 2009 Units completion
The Close Unitech Rs. 75 lacs onwards (3BHK) 2380 Dec 2010
Sun Breeze Unitech Rs. 30 lacs onwards 700 July 2012
New Town Heights DLF Rs. 39.6 lacs onwards (3BHK) 3000 Dec 2011
Express Green DLF Rs. 39.6 lacs onwards (3BHK) 2000 Dec 2011
Lifestyle Vatika Rs. 29.9 lacs onwards 900 Dec 2011
Emerald Floors Emaar MGF Rs. 44.4 lacs onwards (3BHK) 800 Dec 2011
Project
Some of the Residential Projects in Gurgaon
Source: ICICI Property Services
Residential Market in Gurgaon
Average Capital Value (in Rs./sq. ft.) 4100
Average Apartment Size (in sq. ft.) 2000
Total Supply (in no. of units) by Dec. 2012 33689
Total Supply (in mn. sq. ft.) by Dec. 2012 64.77
Source: ICICI Property Services
Project Developer
Source: ICICI Property Services
Note: Rates mentioned are based on Built-up area & are subject to amenities, upkeep & may vary from apartment to apartment within the same building
Residential Property Rates in prime residential markets of Gurgaon
Location Average Rates (Rs./sq. ft.) Market Outlook
MG Road 7000-8000 S
Sohna Road 3000-3600 S
Nirvana Country 3500-4500 S
Golf Course Road 5500-6500 SW
New Gurgaon
(Sec 91, 90, 86, 88, 81)
Sector 56, 55 3500-4000 S
Sector 43 3500-4400 S
Palam Vihar 3000-4000 S
DLF Phase-I 5500-6500 SW
DLF Phase-V 5000-6000 SW
Manesar 2000-2400 SW
Dharuhera 1500-1700 SW
SW2100-2400
Outlook Key: R - Rising • F - Falling • S - Stagnant • SW - Stagnant but likely to weaken • SS - Stagnant but likely to strengthen
Property Price Index: Gurgaon
Property Price Movement Index (March 2005 – June 2009)
Source: ICICI Mortgage Valuation Group (Assuming 100 as a base reference no. for March 2005)
Note: Property price values for Old Gurgaon- Sector 92, Sector 108 and Sector 109 are the same throughout
50
100
150
200
250
300
0 Mar Mar Mar Jun Sept Dec Mar Jun Sept Dec Mar Jun
2005 2006 2007 2007 2007 2007 2008 2008 2008 2008 2009 2009
Golf Course Road Sector 49 Sector 43 Sector 55 Sector 56 Sohna RoadM G Road Old Gurgaon- Sector 92 Sector 108 Sector 109 Extended Golf Course Road
Comparison of actual (A) and real & logical (R&L) price movement
The real & logical (R&L) price is considered to move in line with the consumer price index. Below table brings out a comparison between quarterly property price movements and changes in consumer price index for Gurgaon. Since zone wise inflation data is not available we have substituted the Delhi inflation figures for each zone.
The actual property prices are well above the real and logical price points in Gurgaon, however since March 2008, the gap seems to be reducing at a steady pace.
Faridabad
Faridabad with 300 large and 10000 small scale industries was one of the leading industrial cities of Haryana, a popular choice for setting up industry due to its proximity to Delhi and its location on the Delhi - Mathura road. Much before the advent of Gurgaon as the centre for industrial development in Haryana, Faridabad was the favourite destination of industries. However, in recent times it has fallen much behind the neighbouring towns of Noida, Okhla and Gurgaon in attracting new industry.
It is bounded by the National Capital Territory of Delhi on its north, Gurgaon District on the west and Uttar Pradesh State on its east and south. Delhi-Mathura National Highway-2 (Shershah Suri Marg) passes through the centre of the district.
The Badarpur flyover, a 4.4-km signal-free highway project, which includes a 3 km long six-lane elevated highway. The elevated corridor will be a crucial link between Delhi and Faridabad and also play a key role in easing the traffic flow. The proposed road will start near NTPC, Badarpur and end near Sector-37 crossing in Faridabad. It will do away with all the seven junctions on this stretch.
The Delhi Metro would run on a 13.5-km long stretch in the Faridabad city. The Metro will enter from Badarpur border from Delhi side and stop at Sarai and YMCA will be the last station. Construction works are going on full swing to meet the Dec 2010 deadline. The Haryana government has also started work for four-laning of Gurgaon-Faridabad Road.
The major developers in the area are BPTP, Omaxe & Ansal. Now this region has gained resurgent interest and is fast catching up as the next hot destination.
Gurgaon
Gurgaon (A) Gurgaon (R&L)
0
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150
200
250
Mar
2005
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2006
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2009
Residential Market in Faridabad
Source: ICICI Property Services
Some of the Residential Projects in Faridabad
Average Capital Value (in Rs./sq. ft.) 2125
Average Apartment Size (in sq. ft.) 1700
Total Supply (in no. of units) by Dec. 2012 1300
Total Supply (in mn. sq.ft.) by Dec. 2012 23.15
Source: ICICI Retail Property ServicesNote: Rates mentioned are based on Built-up area & are subject to amenities, upkeep & may vary from apartment to apartment within the same building.
Location Average Rates (Rs. / sq. ft.) Market Outlook
Trans canal (Sector 75-77, 89) 1600-2000 SS
Sector 10,12,15 2400-3000 SW
Sector 21, 41, 42, 46 2700-4000 SS
Residential Property Rates in prime residential markets in Faridabad
Source: ICICI Retail Property Services
Capital Values for Project2BHK as in July 2009 completion
Floors BPTP Rs. 23 lacs onwards 300 July 2012
Heights Omaxe Rs. 27 lacs onwards 400 Sep 2010
Park Elite Premium BPTP Rs. 20 lacs onwards 1000 July 2012
Park Elite Floors BPTP Rs. 20 lacs onwards 3000 June 2012
Project Developer No. of Units
Outlook Key: R - Rising • F - Falling • S - Stagnant • SW - Stagnant but likely to weaken • SS - Stagnant but likely to strengthen
Comparison of actual (A) and real & logical (R&L) price movement
The real & logical (R&L) price is considered to move in line with the consumer price index. Below table brings out a comparison between quarterly property price movements and changes in consumer price index for Faridabad. Since zone wise inflation data is not available we have substituted the Delhi inflation figures for each zone. Below chart depicts that the actual property prices in Faridabad have consistently exceeded the real & logical price points over a period of years.
Faridabad
Faridabad (A) Faridabad (R&L)
0 50
100 150 200 250
Mar 2005
Mar 2006
Mar 2007
Jun 2007
Sept 2007
Dec 2007
Mar 2008
Jun 2008
Sept 2008
Dec 2008
Mar 2009
Jun 2009
Property Price Movement Index (March 2005 – June 2009)
Property Price Index: Faridabad
Source: ICICI Mortgage Valuation Group (Assuming 100 as a base reference no. for March 2005)
Jun
2009
Mar
2009
Dec
2008
Sept
2008
Jun
2008
Mar
2008
Dec
2007
Sept
2007
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2006
Mar
2005
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250
Old Faridabad Sector 42 (Omaxe Green Valley)
Charm Wood
Sector 21C
Trans Canal
NOIDA
The New Okhla Industrial Development Area, usually shortened to , is an area under the management
of the New Okhla Industrial Development Authority. The city, located in Gautam Buddha Nagar district of
Uttar Pradesh, was created under the UP Industrial Area Development Act. It has first-class amenities and is
considered to be one of the most modern suburbs of Delhi in the National Capital Region. It is also home to
the Noida Film City. Noida is bounded by NH-24 Bye-Pass in the North beyond which the Ghaziabad
Development Area exists, in the East by River Hindon beyond which Greater Noida Industrial Development
Area exists, in the West by River Yamuna, beyond which are the States of Delhi and Haryana and in the South
is the meeting point of the rivers Yamuna and Hindon.
Noida has recently become a hub for multinational firms outsourcing IT services. Many large software and
BPO companies have their offices in the city. Adobe System, TCS, ATC Labs, Interra, Global Logic (previously
Induslogic), CSC, HCL, EXL, Birlasoft, Perot, Impetus STMicro Electronics & Xansa have their offices in
Noida. Software Technologies Park is also headquartered in Noida.
Many other companies have their Indian branch offices in Noida because of the Special Economic Zone, the
suburban atmosphere in Noida and its proximity to Delhi.
The Noida metro is set to be functional by October 2009. The whole stretch will be on elevated line and trains
would run at an interval of six minutes between stations. Also, the existing eight-lane DND Toll bridge flyover
provides ease and comfort to road-traffic into and out of Noida.
The 550 meter long, eight lane Noida Toll Bridge across Yamuna connecting Maharani Bagh in Delhi to Noida
has further reduced the distance, time and cost of commuting to and fro Delhi-Noida. The major developers
in the area are Jaypee, Unitech, ATS, Eldeco, Supertech, Parsvnath, and Omaxe. It provides a very good
access point to Delhi, Greater Noida, Ghaziabad, Faridabad and Agra that no other NCR township can match.
Metro connectivity by October 2009, connectivity to Delhi by DND Flyway, Expressways, highways and
district roads, have all boosted the real estate market of Noida.
Noida Authority has increased the FSI to 2.75 from 1.75, thus bringing down the cost of owning an apartment
in Noida.
Noida
Residential Market in Noida
Average Capital Value (in Rs. / sq. ft.) 4500
Average Apartment Size (in sq. ft.) 1800
Total Supply (in No. of units) by Dec. 2012 11605
Total Supply (in mn. sq. ft.) by Dec. 2012 20.48
Source: ICICI Property Services
Some of the Residential Projects in Noida
Capital Values for Project2BHK as in July 2009 completion
Grandwoods Omaxe Rs. 53.3 lacs onwards 2000 Dec 2009
Greens Jaypee Rs. 66.3 lacs onwards 2300 Dec 2011
Klassic Jaypee Rs. 39.96 lacs onwards 1400 Dec 2011
Aman Jaypee Rs. 24 lacs onwards 3300 July 2012
Kosmos Jaypee Rs. 29 lacs onwards 2500 Aug 2012
Lotus Boulevard 3C Rs. 33.75 lacs onwards 400 Aug 2011
Unihomes Unitech Rs. 25 lacs onwards 1000 July 2012
Residential Property Rates in prime residential markets in Noida
Source: ICICI Retail Property Services
Location Average Rates (Rs. / sq. ft.) Market Outlook
Sector 44 5500-6000 SS
Sector 50 4600-5100 SS
Sector 26 4500-5500 SS
Sector 119 3000-3500 S
Sector 112 3000-3500 S
Expressway 3330-5700 SW
Sector 61, 62, 63, 59 3500-4500 SS
Sector 15 A,16 (Land Rate) 14000-16000 SS
Sector 28 4000-5000 SS
Sector 29 4000-5000 SS
Sector 30 4000-5000 SS
Source: ICICI Retail Property ServicesNote: Rates mentioned are based on Built-up area & are subject to amenities, upkeep & may vary from apartment to apartment within the same
Project Developer No. of Units
Outlook Key: R - Rising • F - Falling • S - Stagnant • SW - Stagnant but likely to weaken • SS - Stagnant but likely to strengthen
Comparison of actual (A) and real & logical (R&L) price movement
The real & logical (R&L) price is considered to move in line with the consumer price index. Below table
brings out a comparison between quarterly property price movements and changes in consumer price
index for Noida. Since zone wise inflation data is not available we have substituted the Delhi inflation
figures for each zone.
Noida
Noida (A) Noida (R&L)
As is evident from the above chart, there is a huge gap between the actual property prices and the real & logical prices in Noida.
Source: ICICI Mortgage Valuation Group (Assuming 100 as a base reference no. for March 2005)
Property Price Index: Noida
sector 93 sector 50 sector 51 sector 52 sector 44
sector 61 sector 128
Jun
2009
Mar
2009
Dec
2008
Sept
2008
Jun
2008
Mar
2008
Dec
2007
Sept
2007
Jun
2007
Mar
2007
Mar
2006
Mar
2005
50
100
150
200
250
300
Property Price Movement Index (March 2005 – June 2009)
0
50
100 150 200 250
Jun
2009
Mar
2009
Dec
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2008
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Mar
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2007
Sept
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Mar
2006
Mar
2005
Greater Noida
India's first city with a master traffic plan, privatized power – for uninterrupted power supply, smooth and
wide roads, unfailing optical fibre-based telephone network, abundant clean and sweet water, underground
drainage, plenty open spaces, lush green environs, and various other planned infrastructure corridors, the
Greater Noida Industrial Development Authority (GNIDA) has developed Greater Noida into an impeccably
planned picturesque city.
• 35 minutes from New Delhi (24 km, 8-lane expressway linking GN to Delhi (now operational))
• Proposed Taj International Airport and Aviation hub near Gr. Noida
• Proposed 160 km long Taj Expressway will connect G. Noida to Agra in1 hr, 20 minutes
• 850 km high speed corridor connecting Delhi to Varanasi in less than 10 hours
• Expected Metro connectivity by 2014
• Proposed 'Formula 1' track
• Proposed 'Night Safari' by Sentosa Singapore Company
• 200 acres 'Fun Park' proposed by the promoters of ESSEL WORLD, Mumbai
Greater Noida is India's cleanest city with more than 25% of green cover. Greater Noida is fast emerging
as a hub for automobile ancillary units with companies like Daewoo, Escorts, Honda-SIEL and New
Holland Tractors.
Greater Noida will be the best destination for IT giants and lifestyle seekers. The major developers in the
area are Jaypee, Unitech, Parsvnath and Omaxe.
Residential Market in Greater Noida
Average Capital Value (in Rs./sq. ft.) 2800
Average Apartment Size (in sq. ft.) 1800
Total Supply (in no. of units) by Dec. 2012 16449
Total Supply (in mn. sq. ft.) by Dec. 2012 28.69
Source: ICICI Retail Property Services
Some of the Residential Projects in Greater Noida
Source: ICICI Retail Property Services
Residential Property Rates in prime residential markets of Greater Noida
Source: ICICI Retail Property ServicesNote: Rates mentioned are based on Built-up area & are subject to amenities, upkeep & may vary from apartment to apartment within the same building
Location Average Rates (Rs. / sq. ft.) Market Outlook
Sector PI 2600-3000 F
Sector Mu 2200-2700 F
Alpha, Beta 2200-2700 F
Capital Values for Project 2BHK as in July 2009 completion
Capella Unitech Rs. 54.4 lacs 2000 June 2011
Cascade Unitech Rs. 45.9 lacs onwards (3BHK) 1900 July 2010
Habitat Unitech Rs. 62 lacs onwards 900 Dec 2010
Verve Unitech Rs. 56 lacs onwards 348 March 2011
Horizon Unitech Rs. 56 lacs onwards (3BHK) 1138 June 2010
Greens Jaypee Rs. 56 lacs onwards 1500 Dec 2011
Plumeria Garden Uppals Rs. 32 lacs onwards 900 Dec 2009
Privilege Parsvnath Rs. 65 lacs onwards (3BHK) 450 Aug 2011
Palm Spring Omaxe Rs. 37 lacs onwards 600 Aug 2012
onwards (3BHK)
Project Developer No. of Units
Outlook Key: R - Rising • F - Falling • S - Stagnant • SW - Stagnant but likely to weaken • SS - Stagnant but likely to strengthen
Comparison of actual (A) and real & logical (R&L) price movement
The real & logical (R&L) price is considered to move in line with the consumer price index. Below table brings
out a comparison between quarterly property price movements and changes in consumer price index
for Greater Noida. Since zone wise inflation data is not available we have substituted the Delhi inflation
figures for each zone.
Though the actual property prices have been around 15% over and above the real & logical price pointsover last few quarters, they seem to have converged by end of 2008 suggesting that the property pricesare commensurate with the real & logical prices.
Greater Noida (A) Greater Noida (R&L)
Greater Noida
0
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160
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Property Price Movement Index (March 2005 – June 2009)
Source: ICICI Mortgage Valuation Group (Assuming 100 as a base reference no. for March 2005)
40
60
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120
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160
20
0Jun
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Mar
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Property Price Index: Greater Noida
Sector-Alpha Sector- Pi
Ghaziabad
Ghaziabad is primarily an industrial city with manufacturers in railway coaches, diesel engines,
electroplating, bicycles, picture tubes, tapestries, glassware, pottery, vegetable oil, paint and varnish, heavy
chains, automobile pistons and rings, steel pharmaceuticals, liquor, etc. It is one of the most industrialized
cities in Uttar Pradesh. The new industry sector upcoming in Ghaziabad is of high tech plant growth boosters.
Many companies like Shriram Pistons, Unichem, Dabur, International Tobeco, Bhushan Steels, Rathi Alloys,
Crophealth Products Pvt. Ltd. and Samtel Color are giving it a new dimension.
Ghaziabad can be divided into 2 main areas viz.,Trans Hindon Area (THA) and old Ghaziabad. Old Ghaziabad
comprises Raj Nagar, Kavi Nagar, Patel Nagar, Shastri Nagar, Govindpuram and Navyug market. THA
comprises newly developed areas of Ghaziabad like Indirapuram, Kaushambi, Ramprastha, Suryanagar,
Vaishali and Vasundhara.
There are a number of private engineering colleges and management institutes in Ghaziabad. There are also
a number of medical, dental colleges, and physiotherapy institutes.The Metro extends to Dilshad Garden
station which is situated at the Apsara border on the outskirts of the city. At present it serves the areas of
Rajendra Nagar, Shalimar Garden. This line was extended to Anand Vihar and Vaishali. Recently a number of
malls and multiplexes have come up in the city and the roads are being improved by construction and
widening of flyovers. By road, Ghaziabad is well-connected on all sides to Delhi, Noida, Hapur, Modinagar,
Meerut, Saharanpur, Haridwar, etc. Indirapuram is a prime residential area which has been extended by 229
acres. Because of comparatively higher rates and land scarcity in Noida and also close proximity to Delhi and
Noida both, end users and investors are moving to Indirapuram and Ghaziabad. Major development is
happening on NH-24 and NH-58. Kaushambi can boast of a huge mall presence. Good infrastructure
development in this area & developments for the common wealth games in east Delhi is also aiding the
appreciation of property prices in this area.
Ghaziabad Authority has increased the FSI to 2.5 from 1.5, thus bringing down the cost of owning an
apartment in Ghaziabad.
Location Average Rates (Rs./sq.ft) Market Outlook
Indirapuram 2500-3500 S
Vaishali 2600-3500 S
Kaushambi 3000-4000 S
Vasundhara 2400-3000 S
Old Ghaziabad 1700-2400 S
NH-58 1500-1800 S
Govindpuram 1600-1800 S
Residential Property Rates in prime residential markets of Ghaziabad
Source: ICICI Retail Property ServicesNote: Rates mentioned are based on Built-up area & are subject to amenities, upkeep & may vary from apartment to apartment within the same building
Residential Market in GhaziabadAverage Capital Value (in Rs./sq. ft.) 2500
Average Apartment Size (in sq. ft.) 1600
Total Supply (in no. of units) by Dec. 2012 26271
Total Supply (in mn. sq.ft.) by Dec. 2012 40.18Source: ICICI Retail Property Services
Some of the Residential Projects in Ghaziabad
Capital Values for Project2BHK as in July 2009 completion
Palm Court Aashiana Rs. 22.8 lacs onwards 1300 June 2010
Gulmohar Greens SVP Rs. 29.25 lacs onwards 1700 Dec 2010
Greenvista Gaur Rs. 28.5 lacs onwards 150 Aug 2011
Mascot (CrossingRepublic, NH24)
La Residency Aashiana Rs. 28 lacs onwards 500 Aug 2012
Mahagunpuram Mahagun Rs. 18 lacs onwards 750 Dec 2011
Source: ICICI Retail Property Services
Project Developer No. of Units
Mahagun Rs. 29 lacs onwards 450 Dec 2011
Outlook Key: R - Rising • F - Falling • S - Stagnant • SW - Stagnant but likely to weaken • SS - Stagnant but likely to strengthen
Indirapuram Vasundhara Vaishali Kaushambi NH 58
Comparison of actual (A) and real & logical (R&L) price movement
The real & logical (R&L) price is considered to move in line with the consumer price index. Below table
brings out a comparison between quarterly property price movements and changes in consumer price
index for Ghaziabad. Since zone wise inflation data is not available we have substituted the Delhi inflation
figures for each zone.
As is evident from the above chart, the actual property prices in Ghaziabad are consistently on a higher side as compared with the real & logical prices.
Ghaziabad
Ghaziabad (A) Ghaziabad (R&L)
Property Price Movement Index (March 2005 – June 2009)
Property Price Index: Ghaziabad
Source: ICICI Mortgage Valuation Group (Assuming 100 as a base reference no. for March 2005)
20
40
60
80
100
120
140
160
180
200
0 Mar
2005
Mar
2006
Mar
2007
Jun
2007
Sept
2007
Dec
2007
Mar
2008
Jun
2008
Sept
2008
Dec
2008
Mar
2009
Jun
2009
0
50
100
150
200
250
Mar
2005
Mar
2006
Mar
2007
Jun
2007
Sept
2007
Dec
2007
Mar
2008
Jun
2008
Sept
2008
Dec
2008
Mar
2009
Jun
2009
Delhi Residential Absorption IndexThe residential transactions in Delhi have consistently been on a decline till Jan '09, as is evident from
the below chart. Jan ‘09 recorded only half the number of transactions that were made at the start of the
financial year; however, the transactions started to pick up since then which could be due to the improved
market sentiments.
Apr-08
May-08
Jun-08
Jul-08
Aug-08
Sep-08
Oct-08
Nov-08
Dec-08
Jan-09
Feb-09
Mar-09
Apr-09
0
20
40
60
80
100
120 Delhi Residential Real Estate: Absorption Index
Location Attractiveness Index
Infrastructure (connectivity, roads, proximity to markets, schools)
Residential Cost
Proximity to/ Presence oforganised retail
Proximity to CommercialDevelopment
Future Infrastructure Development
Future EmploymentGeneration
NoidaSector112 to
119 GreaterNoida
NoidaExpress
Way
IndiraPuram(Ghazia
bad)
Vaishali(Ghazia
bad)
NH58(Ghazia
bad)
GurgaonGolf
CourseRoad
GurgaonSohnaRoad
GurgaonNH8
GurgaonExt GolfCourse Road
Source: ICICI Property Services
Good / Low Cost Above Average Average / Medium Cost Below Average Bad / High Cost
About Research & Consultancy
ICICI Property Services is a division of ICICI Home Finance Company Limited, a 100% subsidiary of ICICI Bank. ICICI PSG
provides real estate solutions to home seekers, corporate investors, space occupiers and developers /landlords. ICICI Property
Services addresses the entire bandwidth of a real estate deal from concept to conclusion. Research & Consultancy (R&C), a
specialised group within ICICI PSG, offers both real estate advisory and consumer demographic analysis backed by both
primary & secondary research. The following chart explains in brief the various services offered by R&C.
Feasibility Studies Asset Advisory Strategic Advisory Market Research
• Optimum Land Use
Analysis
• Site Analysis &
SWOT
• Catchment Analysis
• Trade & Tenant Mix
• Land Valuation
• Entry Strategy
• Pricing Strategy
• City and Region
Prioritisation and
Expansion Strategy
• Supply Estimation
• Demand Projections
• Expected Absorption
Trends
• Demographic Analysis
• Consumer Trends
• Consumer Behaviour
Analysis
• Location Analysis
• Market Analysis
• Size, Pricing, Phasing
and Positioning
(Space Programming
& Demarcation for
Optimum Utilisation
of space)
• Financial Analysis
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