dilli heights

DILLI HEIGHTSNCR-Delhi Residential Real Estate Review

March 2008

� ICICI Property Services

Increasing purchasing power among young urban

professionals, easy availability of finance, and changing

attitudes towards home ownership are conditions

that have contributed to the growth of the residential

market.

As per estimates by the Central Statistical Organization,

the per capita income in Delhi is more than double the

value for the country as a whole. With an increase in

demand for quality housing, residential property rates

have risen steeply over the past few years.

Gurgaon witnessed a huge spate of activity in the

residential market owing to increasing demand from

young professionals working in the region, many of

whom prefer to live near their workplace. In the long

term, improving infrastructure will make NOIDA a

preferred residential destination. The NOIDA metro is

set to be functional by June 2009. The stations covered

would include Sector 15, 16, 17, 18, 37, 38 and 32. 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 28km Delhi to Gurgaon expressway is another

very important road construction project currently

underway. The project comprises the widening and

conversion of the Delhi to Gurgaon section of the

National Highway (NH)-8 into a six- to eight-lane access-

controlled highway on a Build, Operate, and Transfer

(BOT) basis. The highway provides important links to

the western ports and the North Indian markets, as

well as the newly developed townships and localities

such as Dwarka. The residential real estate market in

the NCR shall continue its momentum both in terms

of demand and supply, but is unlikely to witness any

unprecedented rise in values like in the year 2006-07.

NCR - Overview Faridabad, Gurgaon, Noida, Greater Noida and Ghaziabad

ICICI Property Services �

Residential Market

No. of Households (2001) (in ‘000s) 2836.745 (Delhi+NewDelhi+Faridabad+Gurgaon)

House Ownership (2006) (Delhi): 9047Owned (in ‘000s)

Rented (‘000s) 2796

Provided by employer (‘000s) 636

Others (‘000s) 31

No. of property related transactions 16139in Oct 2007 (NCR-Delhi)

Growth/Drop in the no. of property 15%related transactions inOct 2007 over Q2 2007 (NCR-Delhi)

Source: Census of India 2001, Marketing Whitebook 2007-08, ICICI Property Services

Source: ICICI Property Services, Ministry of Commerce & Industry, Dept. of Commerce, CSO, NCRB, Census of India -2001

Area (Delhi) 1483 sq.km.

Location (Delhi) latitude 28.38°N and longitude 77.12°E

Population (2001) 14.84 million(Delhi+New Delhi+Faridabad+Gurgaon)

No. of SEZs 22(notified as on Jan 24, 2008)

No. of Graduates (2001) 1.64 million(Delhi+NewDelhi+Faridabad+Gurgaon)

Consumer Price Index 523(as in Dec 2007) (Delhi)

% change in CPI 4.8Dec 2006-Dec 2007 (Delhi)

Crime Rate (Delhi) 380.6

Residential Units to enter 80391the market by Dec 2009

NCR - Delhi at a glance


Rashtrapati Bhavan, the official residence of the President of India, is located at

the west end of the � 1/�km long Rajpath (King’s path), a tree-lined avenue flanked

by lawns with orderly flowerbeds and clipped hedges, with the India gate at the

opposite end. Designed by Sir Edwin L. Lutyens and completed in 19�9, this

palatial building on the Raisina hill was formerly the Viceregal Lodge (Viceroy’s

House), during the British rule.

RASHTRAPATI BHAVAN


Prime Residential Locations in NCR-Delhi

NOIDA Gurgaon Ghaziabad Faridabad NorthDelhi SouthDelhi EastDelhi WestDelhi Major Major Major Major Major Major Major Major Locations Locations Locations Locations Locations Locations Locations Locations Sector 93 Golf Course Indirapuram Old Faridabad Pritampura Chanakya Preet Janakpuri Road puri Vihar Zone Sector 50 Sector 49 Vasundhra Sector 21C Rohini Lajpat Mayur Punjabi Nagar Vihar Zone Bagh Sector 51 Sector 43 Rajnagar Sector 45 Ashok Vihar Greater Patparganj Rohini Kailash Zone Sector 52 Sector 55 Vaishali Sector 42 Model Town Safdarjung Paschim Vihar Sector 44 Sector 56 Kaushambi Sector 33 Civil Lines Vasant Kunj Saraswati Vihar Sector 61 Sohna Road Old Ghaziabad Trans Canal Rajpur Road Mehrauli Kohat Enclave Sector 49 M G Road NH 58 Meera Bagh Sector 18 Old Gurgaon RBI Enclave - Sector 92 Sector 14 Sector108 Bhaera Enclave Sector 15 Sector 109 Guru Har Kishan Nagar Sector 30 Vikaspuri Sector 31 Shivaji Enclave Sector 128 Rajouri Gaden Hari Nagar Kirti Nagar Ramesh Nagar


Distribution of residential supplyNo. of units across NCR-Delhi by category A, B& C developers

Source: ICICI Property Services

Supply of Residential Units (by Category A,B & C developers) coming up by December 2009

AverageAreaofanApartment No.ofUnits Areainmillionsq.ft

NOIDA 2 BHK 1100 - 1200 5.40 3/4 BHK 1700 - 2300 (3 BHK) 16854 40.41 2300 - 3400 (4 BHK)

Ghaziabad 2 BHK 1100 - 1275 13148 13.35 3/4 BHK 1300 - 1800 (3 BHK) 17354 22.29 1800 - 2100 (4 BHK)

Gurgaon 2 BHK 800 - 1200 8500 15.56 3/4 BHK 1400 - 2500 (3 BHK) 16775 31.85 2500 & above (4 BHK)

Faridabad 2 BHK 900 - 1100 2900 5.20 3/4 BHK 1300 - 1500 (3 BHK) 3600 6.30 1700 - 2900 (4 BHK)

Delhi 2 BHK 1600 100 0.16 3 BHK 2100 110 0.23 4 BHK 2500 - 5500 60

Total supply to enter 80391 140.36 the market in Delhi-NCR by Dec 2009


SEZs notified as on Jan 24, 2008

S.No. Name Location Type Area(inhectares)

1 DLF Ltd. Gurgaon IT/ ITES 12.06

2 M/s DLF Cyber City Gurgaon IT/ ITES 10.73 Developers Ltd.

3 Dr. Fresh Health Pvt. Ltd. Gurgaon IT/ ITES 23.43

4 Luxor Cyber City Pvt. Ltd. Gurgaon IT/ ITES 27.08

5 Parsvanath SEZ Ltd. Gurgaon IT/ ITES 42.70

6 GHI Finlease & Investment Ltd. Gurgaon IT/ITES 12.94

7 Gurgaon Infospace Ltd. Gurgaon IT/ITES 11.20

8 Canton Buildwell Pvt. Ltd. Gurgaon IT/ITES 10.16

9 Unitech Realty Projects Ltd. Gurgaon IT/ITES 10.04

10 Suncity Haryana SEZ Gurgaon IT 67.64 Developers Pvt. Ltd.

11 Metro Valley Business Gurgaon IT 10.39 Park Pvt. Ltd.

12 M/s Orient Craft Gurgaon Textiles 114.83 Infrastructure Ltd.

13 Uppal Developer Pvt. Ltd. Gurgaon Multi- Services 106.31

14 Selecto Systems Pvt. Ltd. Faridabad IT/ ITES 3.34

15 Moser Baer India Ltd. Greater NOIDA Non-conventional 11.90 energy including solar energy equipments/cell

16 Ansal IT City & Parks Ltd. Greater NOIDA IT/ITES 30.41

17 NIIT Technologies Ltd. SEZ Greater NOIDA IT/ITES 10.2

18 WIPRO Ltd. Greater NOIDA IT/ITES 20.23

19 HCL Technologies Ltd. NOIDA IT/ITES 16.91

20 OSE Infrastructure Ltd. NOIDA IT/ITES 10.12

21 Seaview Developers Ltd. NOIDA IT 12

22 Unitech Infra Con Ltd. NOIDA IT/ITES 20.23

Total 594.85

Source: Ministry of Commerce & Industry, Dept. of Commerce


Organised Retail Development

S.No. MallName SiteLocation TotalAreainmillion Status sq.ft.(Approx)

1 City Centre Gurgaon 0.25 Operational 2 Mega Mall Gurgaon 0.30 Operational 3 Grand Mall Gurgaon 0.30 Operational 4 South Point Gurgaon 0.18 Under Construction 5 Star Mall Gurgaon 0.35 Under Construction 6 Mall of India Gurgaon 5.00 Under Construction 7 Senior Mall Gurgaon 0.25 Under Construction 8 Ambi Mall Gurgaon 1.80 Operational 9 Gold Souk Gurgaon 0.18 Operational 10 House2Home Gurgaon 0.20 Under Construction 11 MGF Metropolitan Mall Gurgaon 0.40 Operational 12 Raheja Mall Gurgaon 0.28 Under Construction 13 Omaxe Plaza Gurgaon 0.25 Operational 14 Sahara Mall Gurgaon 0.25 Operational 15 Wedding Mall Gurgaon 0.17 Completed but not Operational 16 JMD Regent Mall Gurgaon 0.25 Under Construction 17 Mega City Gurgaon 0.20 Operational 18 MGF Plaza Gurgaon 0.15 Operational 19 Gurgaon Central Gurgaon 0.25 Completed but not Operational 20 ILD Trade Centre Gurgaon 0.50 Under Construction 21 Niho Mall Gurgaon 0.08 Completed but not Operational 22 Landmark Mall Gurgaon 0.30 Under Construction 23 MGF Metropolis Gurgaon 0.50 Under Construction 24 DLF Tower Delhi 0.20 Proposed 25 Splender Forum Delhi 0.15 Under Construction 26 Sprit GlobusKopia Delhi 0.15 Under Construction 27 DLF Vasant Place Delhi 0.90 Completed but not Operational 28 Courtyard Delhi 0.60 Under Construction 29 South Court Delhi 0.50 Under Construction 30 Galleria Delhi 0.15 Completed but not Operational 31 Metrowalk Delhi 0.25 Operational

ICICI Property Services 9


32 Inderlok Metro Delhi 0.15 Operational 33 Shahdara Metro Delhi 0.10 Completed but not Operational 34 Parsvnath Rohini Mall Delhi 0.40 Under Construction 35 Ansals Plaza Delhi 0.10 Operational 36 Ambi Mall Delhi 0.80 Under Construction 37 City Square Delhi 0.25 Operational 38 Cross River Mall Delhi 0.40 Operational 39 Shop’in Park - East

Delhi 0.15 Completed but not Operational (Piramyd) closed 40 Shop’in Park - North Delhi 0.25 Operational 41 TDI Mall (Rajouri Garden) Delhi 0.15 Operational 42 TDI Paragon Delhi 0.15 Operational 43 V3S East Centre Delhi 0.30 Operational 44 V3S Ring Road Mall Delhi 0.40 Completed but not Operational 45 Vasant Square Delhi 0.40 Under Construction 46 Wedding Souk Delhi 0.10 Operational 47 West Gate Delhi 0.40 Operational 48 Southern Park Delhi 0.20 Operational 49 Citadel Delhi 0.17 Under Construction 50 Orbit Plaza Delhi 0.25 - 51 Capitol City Mall Delhi 0.25 Under Construction 52 Pacific (Rajouri Garden) Delhi 0.60 Under Construction 53 StarCity Mall Delhi 0.40 Operational 54 Akshardham Metro Mall Delhi 0.40 Under Construction 55 Azadpur Metro Mall Delhi 0.30 Under Construction 56 Select City Walk Delhi 0.50 Operational 57 MGF Metropolitan Delhi 0.50 Under Construction 58 MGF Khyber Pass Delhi 0.40 Under Construction 59 Hyper Mall Delhi 0.40 Completed but not Operational 60 V3S Rohini Dist Centre Delhi 0.25 Under Construction 61 D Mall Delhi 0.30 Under Construction 62 Kings Mall Delhi 0.25 Under Construction 63 M2K Delhi 0.07 Operational 64 Mangalam Paradise Delhi 0.15 Under Construction

10 ICICI Property Services


65 W mall Delhi 0.10 Completed but not Operational 66 North Gate Delhi 0.20 Completed but not Operational 67 Town Square Noida 1.70 Under Construction 68 The Great India Place Noida 1.50 Operational 69 Gardens Galleria Noida 0.80 Proposed 70 Spice World Noida 0.35 Operational 71 Senior Mall Noida 0.20 Completed but not Operational 72 Ansals Plaza Gr. Noida 0.75 Operational 73 NRI City Centre Gr. Noida 0.50 Under Construction 74 Omaxe Connaught Place Gr. Noida 1.90 Under Construction 75 MSX Mall Gr. Noida 0.50 Under Construction 76 Grand Venezia Gr. Noida 1.00 Under Construction 77 I Mall Gr. Noida 0.50 Proposed 78 CentreStage Mall Noida 0.40 Operational 79 Shoprix Mall Noida 0.15 Operational 80 SRS World Faridabad 0.18 Operational 81 Ansals Crown Plaza Faridabad 0.18 Operational 82 Destination Point Faridabad 0.25 Proposed 83 Crown Interiorz Faridabad 0.65 Completed but not Operational 84 Eldeco Station1 Faridabad 0.20 Completed but not Operational 85 Eros E-Square Mall Faridabad 0.40 Completed but not Operational 86 Eros EF3 Mall Faridabad 0.40 Completed but not Operational 87 City Mall Faridabad 0.30 Completed but not Operational 88 Pristine Mall Faridabad 0.20 Operational 89 MB Mall Faridabad 0.40 Under Construction 90 Gardenia Sky Mall Faridabad 0.20 Under Construction 91 Eros market place Ghaziabad 0.25 Under Construction 92 The East End Mall Ghaziabad 0.10 Operational 93 Shopprix Mall Ghaziabad 0.10 Operational 94 Shipra Mall Ghaziabad 0.45 Operational 95 Pacific Ghaziabad 0.50 Operational 96 One Mall Ghaziabad 0.10 Completed but not Operational 97 MMX Mall Ghaziabad 0.25 Under Construction 98 Parsvnath Majestic Arcade Ghaziabad 0.20 Under Construction



99 Galaxie Ghaziabad 0.10 Operational 100 East Delhi Mall (EDM) Ghaziabad 0.50 Operational 101 Ansal Plaza

Ghaziabad 0.20 Operational (Factory Outlet Mall) 102 AEZ Carnival Country Mall Ghaziabad 0.30 Operational 103 Aerens Europark Ghaziabad 0.60 Under Construction 104 Aditya Mega Mall Ghaziabad 0.25 Under Construction 105 Ashiana City Mall Ghaziabad 0.21 Completed but not Operational 106 D Mall Ghaziabad 0.20 Under Construction 107 Mahagun Metro Mall Ghaziabad 0.16 Under Construction 108 Jaipuria Sunrise Mall Ghaziabad 0.25 Under Construction 109 Angel Mall Ghaziabad 0.20 Under Construction 110 Express Mall Ghaziabad 0.20 Under Construction 111 Express Plus Mall Ghaziabad 0.20 Under Construction 112 Celebration Mall Ghaziabad 0.30 Under Construction


1� ICICI Property Services

It first occurred to the omniscient mind that he should select on the

banks of the Yamuna river some pleasant site, distinguished by its

genial climate, where he might found a splendid fort and delightful

edifices, agreeably to the promptings of his generous heart, through

which streams of water should be made to flow, and the terraces

of which should overlook the river.’ Muhammad Tahir, Inayat Khan

Shahjahan-nama, 1��-��.

RED FORT

ICICI Property Services 1�

NOIDA (New Okhla Industrial Estate Authority) Major Locations: Sector 93, sector 128, 50, 51, 52, 44, 61, 93, 49, 19, 120, Old NOIDA-sector 18, 14, 15, 30, 31RED FORT

NOIDA comprises 167 sectors and out of which 70

sectors have already been developed. New sectors are

being developed in a phased manner. Property prices

generally follow a similar trend in almost all residential

sectors. The major developers in the area are Jaypee,

Unitech, ATS , Eldeco, Supertech, Parsvnath, Omaxe.

There are about 50 societies in NOIDA.

Growth Stimulators

• Development of commercial & industrial activity leading to creation of jobs has led to increase in demand of properties in NOIDA.

• The rush of developers during recent auctions is also an indicator of the same.

• Planned infrastructure & development of builder activities by the government are the key real estate drivers in NOIDA.

• There are various sectors in NOIDA & Greater NOIDA which are earmarked for the developers.

• Lately NOIDA has become a hub for MNCs & outsourcing IT services.

• Adobe System, TCS, ATC Labs, Interra, Global Logic (previously Induslogic), CSC, HCL, EXL, Birlasoft, Perot, Impetus STMicro Electronics & Xansa have their offices in NOIDA.

• Indian counterparts of several MNCs are located in NOIDA.

• Software Technologies Park is also headquartered in NOIDA.

• NOIDA is fast emerging as a hub for automobile ancillary units with companies like Daewoo, Escorts, Honda-SIEL & New Holland Tractors.

• SEZ, better suburban atmosphere in NOIDA & proximity to Delhi also contribute to the development of this zone.

• The 160 km long Taj Express connecting Greater NOIDA to Agra, metro connectivity by 2009, Formula 1 and proposed airport in Greater NOIDA, connectivity to Delhi by DND Flyway, expressways, highways and district roads, have all boosted the real estate market of NOIDA.

• NOIDA is known as North India’s only modern, self contained city.

• Greater NOIDA is India’s cleanest city with more than 25% of green cover.

• The best destination for IT giants and life style seekers.

• A very good access point to Delhi, NOIDA, Ghaziabad, Faridabad and Agra that no other NCR township can match.

• NOIDA is estimated to witness an IT development to the tune of 6.5 million sq. ft. by Dec 2009. This should translate to over 50,000 new jobs getting created. (Assuming 10% vacancy levels)


Distribution of 2 & 3/4 BHK in NOIDA

Source: ICICI Property ServicesNote: The areas mentioned are built-up areas


Prime Residential Projects in NOIDA

Source: ICICI Property Services*Rates mentioned are based on built-up area & are subject to amenities, upkeep & vary from apartmentto apartment within the same building. Rates are subject to change at any given point of time.

Residential Market in NOIDA

Average Apartment Size of 1100 - 12002 BHK in sq.ft.



Total Supply (in mn. sq. ft.) 45.81by Dec. 2009

Total Supply (in no. of units) 21354by Dec. 2009

NameoftheProject Developer CapitalValuesfor2BHK No.ofUnits DateofCompletion asonMar2008(inINR)

Grand Woods Omaxe 50 - 55 lacs 500 Dec 2009

Twin Towers Omaxe 1.2 Cr (3 BHK) 140 Aug 2010

Jaypee Greens Jaypee 1 Cr 1420 Dec 2010

Grande Unitech 1.8 Cr (3 BHK) 516 Dec 2010

Utopia Eldeco 45 - 55 lacs 438 Mar 2008

ICICI Property Services 1�

Property Price Movement (Q4 2004 - Q3 2007) - NOIDA

Source: ICICI HFC Mortgage Valuation ServicesAssumption: 100 as a base reference no. for Q4 2004)

Residential Property Rates in Prime Residential Markets of NOIDA

Source: ICICI Property Services*Rates mentioned are based on built-up area & are subject to amenities, upkeep & vary from apartment to apartmentwithin the same building. Rates are subject to change at any given point of time.

Location AverageRates(Rs./sq.ft.) AverageRentals(Rs./month) MarketOutlook

Express Way 5000 - 5700 17000 - 25000 (1500 sq. ft.) R

Sector 50 4500 - 5000 17000 - 18000 (3 BHK) R

Sector 61, 62 3500 - 4000 15000 - 16000 (3 BHK) R

Greater NOIDA 3000 8000 (3 BHK) S

NOIDA MAP

Map not to scale.


Humayun’s Tomb is a complex of buildings of Mughal

architecture located in Nizamuddin East, New Delhi.

It encompasses the main tomb of Emperor Humayun

as well as numerous others. This tomb is of particular

cultural significance as it was the first garden-tomb

on the Indian subcontinent which inspired several

major architectural innovations, culminating in the

construction of the Taj Mahal.

HUMAYUN’S TOMB


Growth Stimulators

• It is home to offices of several MNCs.

• Gurgaon has emerged as the hub of IT & other new age businesses.

• It is estimated that IT will spread over 6 million sq.ft. in Gurgaon by Dec 2009, which will in turn create over 50,000 new jobs, thus giving a further push to the residential real estate.

• This is primarily because of its proximity to the international & domestic airport & also to Delhi.

• Almost 56 SEZs are already approved in Haryana. (including DLF & Reliance)

• The area along NH8 is booming – Manesar, Daruhera, Bhiwadi, Riwadi.

• Gurgaon enjoys all the facilities available in Delhi.

• It is well-linked by rail & road to Delhi, Faridabad & Jaipur.

• KMP Expressway (Kundli-Manesar-Palwal) is coming up soon.

Gurgaon Major Locations: Golf Course Road, Sector 49, 43, 55, 56, Sohna Road, M G Road,Old Gurgaon - sector 92, 109, 108

Gurgaon is the most rapidly developing colonnade of

Greater Delhi. The development in the region has been

predominantly high rise construction along with high

quality villas. The areas of DLF, South City, Sushant

Lok, Sohna Road have witnessed vast apartment

developments. These areas have witnessed large

residential projects launched and completed by

most reputed builders of Delhi-NCR. 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 to name a few. Maruti &

Hero Honda were amongst the initial corporate houses

to have entered this area. Gurgaon is home to small

textile and auto ancillary companies as well. Gurgaon

is an end user market and all the new projects coming

up are premium and life style projects.

19 ICICI Property Services

Residential Market in Gurgaon Distribution of 2 & 3/4 BHK inGurgaon



Prime Residential Projects in Gurgaon

Source: ICICI Property Services*Rates mentioned are based on built-up area & are subject to amenities, upkeep & vary from apartment to apartment within the same building. Rates are subject to change at any given point of time.

Average Apartment Size of 800 - 12002 BHK in sq. ft.


Average Apartment Size of 2500 & above4 BHK in sq. ft.




Nirvana Fresco Unitech 50 - 60 lacs (2 BHK) 796 Dec 2008

Palm Springs Emaar 1.5 Cr (3 BHK) 300 Dec 2008

Park Place DLF 1.2 Cr (3 BHK) 988 Dec 2009

Palm Drive Emaar 80 - 90 lacs (2 BHK) 500 Jun 2010

Bellaire DLF 2.1 - 2.2 Cr (3 BHK) 380 Jun 2010

Exotica Parsvnath 1.2 - 1.3 Cr (3 BHK) 350 Dec 2008

Aralias DLF 4 - 4.5 Cr (5 BHK) 34 Jul 2008

Magnolias DLF 4.5 - 5 Cr (4 BHK) 480 Jul 2010


Property Price Movement (Q4 2004 - Q3 2007) - Gurgaon


Residential Property Rates in Prime Residential Markets of Gurgaon


Location AverageRates(Rs./sq.ft.) AverageRentalsfor3BHK(Rs./month) MarketOutlook

MG Road 5000 - 5500 30000 - 50000 S

Golf Course Road 6000 - 6500 35000 R

Nirvana Country 3800 - 4000 25000 S

Sohna Road 3200 - 3500 14000 -18000 R

Manesar 2000 - 2400 5000 R

Dharuhera 1500 - 1800 4000 R

Upcoming areas 2400 - 2600 NA R (sectors108, 92,10)

GURGAON MAP

Map not to scale.

�0 ICICI Property Services

Safdarjung’s Tomb was built by Nawab Shuja-ud-Daulah, the son of

Safdarjung. Safdarjung was the governor of Awadh and later became

the Prime Minister of Muhammad Shah, the Mughal emperor. Built

in 1��-1��, the Safdarjung Tomb lies at the Lodi Road, New Delhi.

Safdarjung’s Tomb is set in the middle of a garden, which spreads

over an area of �00 sq.m. The garden of Safdarjung’s Tomb is laid

down on the pattern of the Mughal Charbagh style. The Safdarjung

Tomb was erected roughly on the pattern of Humayun’s Tomb.

SAFDARJUNG TOMB

ICICI Property Services �3

Faridabad Major Locations: Trans Canal, Old Faridabad, Sector 21C, 45, 42 (Omaxe Green Valley), Sector 33, Clam Wood

Faridabad is an industrial town of Haryana with 300

large and 10000 small scale industries. Faridabad for

years had been lagging behind other satellite towns

in terms of a good real estate destination. Recently

this region has gained resurgent interest and is fast

catching up as the next hot destination. A slew of

residential and commercial projects by well known

developers and government agencies like HUDA are

on the anvil. Faridabad has a develop-able land mass in

excess of 10,000 acres. Most of the developers have

acquired large chunks of land banks in close proximity

to Faridabad. The major developers in the area are

Omaxe & Ansal.

Growth Stimulators

• KMP expressway a recent initiative of Haryana & U.P. govt. would act as a ring road to NCR. The expressway once completed would link areas of Kundli, Manesar, Palwal with Gurgaon, Faridabad, NOIDA & Ghaziabad. The improved connectivity of Faridabad would result in appreciation of the property prices.

• Planned extension of Delhi Metro to South Delhi is also expected to increase the marketability of Faridabad.

• Completion of recently announced new bridge over the busy Badarpur crossing, is expected to reduce the traffic congestion on Mathura Road connecting Faridabad to South Delhi.

• This would further reduce the transit time between Delhi & Faridabad & result in appreciation of property prices.

• Great future connectivity to NOIDA, Greater NOIDA, South Delhi & Gurgaon. Gurgaon-Faridabad wide road is already in place. Flyover from NOIDA – Greater NOIDA expressway is proposed.

• Expressway from Kalindi Kunj is slated to be completed before Commonwealth games 2010 which will facilitate a smooth journey to Agra.

• Metro is due before 2010 while many commercial & retail projects are slated to come up soon.

• As many as over 15 developers have already moved in and major construction and infrastructure upgradation activities are going on.

• Residential sectors are attracting investors as well as end-users working in & around Delhi.

• HUDA (Haryana Urban Development Authority) has contributed to the resurgent interest in Faridabad by recently announcing group housing schemes through draw of lots, which has received overwhelming response.

• Close to 1.85 million sq. ft. of IT space is estimated to come up in Faridabad by Dec 2009, which will create over 15000 jobs in this zone.


Residential Market in Faridabad Distribution of 2 & 3/4 BHK inFaridabad



Prime Residential Projects in Faridabad







Forest Omaxe 2.1 - 6 Cr (5 BHK) 540 Dec 2009

Resort BPTP 35 - 45 lacs 1200 Dec 2010



Property Price Movement (Q4 2004 - Q3 2007) - Faridabad


Residential Property Rates in Prime Residential Markets of Faridabad

Location AverageRates(Rs./sq.ft.) MarketOutlook

Trans Canal (sector 78, 88, 89) 1700 - 1900 SS

Sector 10,12,15 15000 - 2000/ sq. yard S


FARIDABAD MAP

Map not to scale.

�� ICICI Property Services

India Gate is constructed

as a memorial and was

built in the memory of

90,000 soldiers who laid

down their lives during

World War I. Located at

Rajpath, India Gate is ��

m high and is a popular

relaxation area during the

summer evenings. India

Gate also acts as a popular

pinic spot during winter.

Also known as the All

India War Memorial, India

Gate was designed and

constructed by Lutyens.

He was the one who

is considered the chief

proclaimer in designing

the New Delhi plans.

INDIA GATE


INDIA GATE Ghaziabad Major Locations: Indirapuram, Vaishali, Kaushambi, Old Ghaziabad, NH 58, Vasundhra, Rajnagar

Ghaziabad can be divided into 2 main areas viz. Trans

Hindon Area (THA) & old Ghaziabad. THA comprises of

newly developed areas of Ghaziabad like Indirapuram,

Kaushambi, Ramprastha, Surya Nagar, Vaishali and

Vasundhra. Old Ghaziabad comprises of Raj Nagar, Kavi

Nagar, Patel Nagar, Shastri Nagar, Govindpuram and

Navyug market. 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. It has a healthy

mix of investors and end users. Several high-rise

apartments have changed the skyline of Ghaziabad.

Major development is happening on NH-24 and NH-

58.

Growth Stimulators

• Its proximity to Delhi is a major reason for high returns.

• High property prices in Delhi & all other satellite towns vis-a-vis affordable residential units in Vaishali, Vasundhra, Indirapuram, Kaushambi & areas of Ghaziabad has or have resulted in greater demand for properties in these areas.

• Kaushambi can boast of a huge mall presence in the pipeline.

• Good infrastructure development in this area & developments for the Commonwealth Games is also aiding the appreciation of property prices in this area.

• As part of the 2010 Commonwealth Games, GDA is planning to have two big five star hotel projects in the city.

• The Jal Nigam is planning to increase the water supply to the city.

• The area has developed into a manufacturing hub, with a large number of small manufacturing & processing industries operating out of the region.

• It is the industrial hub of UP.

• It was even featured in Newsweek International and was listed in the top 10 most dynamic cities of the world in the year 2006.

• It is estimated that by the year 2010 metro trains will be operating on the border areas of the city of Ghaziabad.

• The GDA has proposed to build fourteen new flyovers, grade separators, underpasses and clover passes at different points of the city.

• Madhuban is a new development of Ghaziabad covering 1200 acres near Raj Nagar / Kavi Nagar. Each plot here will be park-facing along the lines of Golf Links / Jorbagh in New Delhi.

• Bapudham is a huge colony near Madhuban targeted at the lower income group.


Residential Market in Ghaziabad Distribution of 2 & 3/4 BHK inGhaziabad



Integrated Cities - Public Private Partnership

ProjectName Area(inacres)

Crossing Republik 360

Sushant City 127

Saga City 72.9

Jaipuria Sunrise Green 300

Aditya World City 185


ProjectName Area(inacres)






Emaar MGF 255

Land Craft Golf Link 91.6

Orchid IREO Reality 200

Amara Towne 200


Property Price Movement(Q4 2004 - Q3 2007) - Ghaziabad


Residential Property Rates in Prime Residential Markets of Ghaziabad

Location Average Average Market Rates Rentals Outlook (Rs./sq.ft.) for3BHK (Rs./month)

Indirapuram 2600 - 3200 8000 S

Vaishali 2200 - 2800 6500 R

Kaushambi 2000 - 2500 7000 S


Prime Residential Projects in Ghaziabad


NameoftheProject Developer CapitalValuesfor2BHK No.ofUnits DateofCompletion asonMar2008

Orange County Meriton Group 90 lacs - 1 Cr 3 (BHK) 1000 Dec 2008

Tulips Ashiana 65 - 79 lacs 60 Jun 2009

Green Vista Gaurs Sons 30 - 35 lacs 1400 Jun 2009

Gulmuhor Green SVP 25 - 30 lacs 1208 Dec 2009

Mosaic Mahagun 28 - 32 lacs 200 Mar 2009

Mansion Mahagun 34 - 38 lacs 800 Ready to move

Advantage ATS 30 - 33 lacs 800 Dec 2010

Suncity Shipra 20 - 30 lacs 1000 Ready to move

Vista Shipra 33 - 36 lacs 700 Dec 2008

GHAZIABAD MAP

INDIRAPURAM

VASUNDHRA

RAJ NAGARDISTRICT CENTRE

VAISHALIKAUSHAMBI

NH-58

Map not to scale.


Qutab Minar, the ��9 ft. sandstone tower

is an Indo-Islamic architectural wonder of

ancient India. This magnificent tower of

victory stands in the Qutab complex located

at Aurabindo Marg, near Mehrauli. King

Qutubuddin Aibak of Slave dynasty laid the

foundation of the Qutab Minar in 1199 A.D.

adjoining the Quwwat-ul-Islam mosque, to

proclaim the victory of Islam, after the defeat

of the last Hindu kingdom in Delhi.

QUTAB MINAR


QUTAB MINAR

Source: ICICI HFC Mortgage Valuation ServicesAssumption: 100 as a base reference no. for Q4 2004

Property Price Movement (Q4 2004 - Q3 2007) - North Delhi

North Delhi comprises Civil Lines, Rajpur Road,

Pitampura, Rohini, Ashok Vihar and Model Town as the

prime residential areas. All the major locations of the

area except some pockets of Rohini have witnessed

plotted development with self constructed low rise

residential units. Civil Lines, Rajpur Road and Mall

Road are posh localities of North Delhi with presence

of Governor Residence and Old Secretariat in this area.

The plots in these localities are very big in size, thus

have a very high ticket size for resale transactions.

Paucity of demand for large properties has resulted

in lower sales transactions and lower rate of property

price appreciation in the area. The recent trend in

the area is towards splitting of the bigger plots into

smaller plots. Primarily self constructed bungalows

are coming up in these areas. The areas of Civil Lines,

Rajpur Road, Mall Road etc. have a lower annualized

increment in Land rates i.e. upto 25%.

Growth Stimulators• The area has close proximity to Inter State Bus

Terminus and central business districts of Chandni Chowk, Chawri Bazaar, Kamla Nagar and Darya Ganj.

• The area also has close proximity to Delhi University, North Campus.

• Close to Model Town is Delhi University, one of the major universities of India.

• From Model Town, you can easily get to the GT Karnal Road and get linked with other states of India.

• Being a residential area, the region has all the facilities, including accommodation, tourist places and restaurants which makes Model town one of the best places to live in.

North Delhi Major Locations: Mall Road, Kamla Nagar, Kingsway Camp, Model Town, Dera Wala Nagar, Gujranwala Town, Ashok Vihar, Shalimar Bagh, Pitampura, Rohini - Sec - 9 to 19, Civil Lines, Rajpur Road, Banarsi Dass Estate, Shakti Nagar, Roop Nagar, Outram Lines, Mukherji Nagar, Rana Pratap Bagh, Tagore Park



Property Price Movement (Q4 2004 - Q3 2007) - South Delhi

South Delhi Major Locations: Defence Colony, South Ex. Part-I, South Ex. Part-II, East of Kailash, C. R. Park, Green Park, Hauz Khas, Safdarjung Development Area, Safdarjung Enclave, Saket, Shivalik Enclave, Swami Nagar, Panchsheel Park, Panchsheel Encalve, Golf Link, Jor Bagh, New Friends Colony, Friends Colony, Maharani Bagh, Jungpura, Lajpat Nagar, Kalkaji, Greater Kailash-I, Greater Kailash-II, Greater Kailash Enclave, Vasant Vihar, Anand Niketan, Shanti Niketan, West End, Sarvodaya Enclave.

South Delhi has the most premium properties in Delhi

and boasts of location such as Vasant Vihar, Golf

Links, Chanakyapuri, GK I & II, Jorbagh, Safdarjung,

Lajpat Nagar and Mehrauli. These are important

parts of Delhi, as they hold both commercial and

residential value. Major government offices as well

as consulates are located in this area. It houses

some of the best stores, hotels, infrastructures,

tourist attractions, markets, historical monuments,

restaurants and nightspots. Some of the famous

monuments that you can find in this region are Qutab

Minar, Purana Qila and Humayun Tomb. Lajpat Nagar

falls amidst the two popular regions of South Delhi

- Greater Kailash and South Ex. Apart from shops, the

region is a well-known residential area. There are no

high rise apartments due to government restrictions.

The residential units are bungalows, independent

floors, or DDA (Delhi Development Authority) flats. It

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.

Growth Stimulators• The region is considered as one of the posh locales

of Delhi.

• It is the dream of one and all to own a house in this area as it may amount to crores of rupees.

• Situated on Ring Road, South Extension is divided into two parts - South Extension I and South Extension II.

• This is one of the most posh market places promising international shopping experiences.

• Scarcity of flats, good connectivity with rest of Delhi & NCR, presence of art & cultural centres, schools, presence of CBD (Central Business District) are few of the factors driving the market.



Property Price Movement (Q4 2004 - Q3 2007) - East Delhi

East Delhi Major Locations: Preet Vihar, Nirman Vihar, Pushpanjali Enclave, Saini Enclave, Dayanand Vihar, Anand Vihar, Ram Vihar, Surajmal Vihar, Vigyan Vihar, Jhilmil Colony, Vivek Vihar, Yamuna Vihar, AGCL Encalve, Jagrati Enclave, Mayur Vihar

East Delhi area comprises of Trans Yamuna locations

of Delhi located near UP Border. East Delhi has good

connectivity to suburbs like NOIDA & Ghaziabad. There

is a healthy mix of societies, DDA flats and bungalows.

The area is predominantly inhabited by middle income

working class, which suffered on account of poor

connectivity with the city centre. However, the area has

witnessed considerable appreciation in property prices

from Jan 2005. Preet Vihar Zone, Mayur Vihar Zone,

Patparganj Zone are the key areas of East Delhi. Preet

Vihar zone comprises primarily residential plots with two

storied self construction row houses. Mayur Vihar is a

popular residential colony of East Delhi. DDA developed

Mayur Vihar as a residential area and divided the area

into three phases. Flats are developed under Group

Housing Societies (GHS). Slowly and steadily, Patparganj

is developing into a commercial and residential area.

DDA is playing a major role in making this place grow.

DDA has developed many Group Housing Societies

(GHS).

Growth Stimulators• Preet Vihar Zone has witnessed a large scale

development of shops and educational institutes.

• Crowded with a number of small and big shops, this place is considered as one of the best commercial hubs in Delhi.

• Situated in the Trans-Yamuna area of the main city of Delhi, Mayur Vihar forms one of the better residential areas of East Delhi and serves as an important upmarket area that further enjoys a strategic location adjacent to NOIDA.

• It is also fast emerging as one of the major commercial hubs of East Delhi.

• Mushrooming mall culture and upcoming real estate activities are giving a push to the land rates here.

• Commonwealth Games will take place in East Delhi.

• Since it lies close to NOIDA, Nizamuddin Bridge and South Delhi, the area is well connected.

• Patparganj is one of the affordable locations in Delhi.

• The area is well linked with other places in Delhi like CP, Nehru Place, ISBT, old and new railway stations.



Property Price Movement (Q4 2004 - Q3 2007) - West Delhi

West Delhi Major Locations: Rohini, Paschim Vihar, Saraswati Vihar, Kohat Enclave, Paschim Vihar Extn., Punjabi Bagh East, Punjabi Bagh West, Meera Bagh, RBI Enclave, Bhera Enclave, Guru Har Kishan Nagar, Vikaspuri, Tagore Garden, Shivaji Enclave, Rajouri Garden, Hari Nagar, Janakpuri, Kirti Nagar, Ramesh Nagar

Delhi is divided into nine districts, and West Delhi

indeed forms an indispensable part of Delhi. West Delhi

includes regions like Janakpuri, Punjabi Bagh, Rohini.

These areas are typically characterised by bungalows

and DDA flats. Both mid and high range properties

are available here. With high rise apartments and

planned townships, the city is witnessing a new trend

in lifestyle living. Besides apartments, the concept of

integrated township is also ushering in Dwarka with

many prominent players busy developing exclusive

projects here. The rate of residential property in Dwarka

has doubled within two years. The entire west Delhi

has shown a uniform increment in rates. However, the

areas up to 35% increase are those which were already

developed like Rajouri garden, Janakpuri and Vikas Puri.

Being the oldest, Janakpuri is divided into four major

blocks namely A, B, C, D and then further subdivided

into sub blocks. All the blocks in Janak Puri houses at

least one local market. C-4 E is one of the most visited

market of all times. Rajouri Garden area of West Delhi

is witnessing large scale construction of Shopping

Malls. With crack down of MCD on unauthorised shops

running out of residential properties, which has been

most prevalent in West Delhi, the demand for authorised

commercial space has risen, driving the rental and

capital values in such properties.

Growth Stimulators• West Delhi encompasses many renowned schools,

hospitals, cinema halls.

• The area is a good commercial as well as residential hub.

• The upcoming areas like Paschim Vihar, Saraswati Vihar and Punjabi Bagh have shown a good rise in property rates due to construction of flyovers around and thus, reduction of traffic on the roads.

• The infrastructure has also become better in the last year in West Delhi, making it easy for commuting.

• Janakpuri is considered one of the best residential colonies of West Delhi.

• Punjabi Bagh is one of the popular residential areas of West Delhi.

• The region is well located and has connectivity with both rail and road.

• Metro has emerged as a matter of major convenience for the residents in Dwarka. With the Metro having started, it has become easier to get to any part of Delhi.



Distribution of 2 & 3/4 BHK in Delhi Residential Property Rates in PrimeResidential Markets of Delhi


Location AverageRates Market (Rs./sq.ft.) Outlook

North Delhi 90000 - 110000 R

South Delhi 180000 - 400000 R

East Delhi 100000 R

West Delhi 90000 - 105000 R



Queen’s Court DLF 8 Cr (4 BHK) 19 Dec 2010

King’s Court DLF 10 Cr (4 BHK) 40 Dec 2010

Victoria Garden M2K 1.25 Cr (2 BHK) 262 Dec 2009

Prime Residential Projects in Delhi


Location Attractiveness Index


Infrastructure Residential Proximityto/ Proximityto/ Employment Future (connectivity, cost Presenceof Commercial Generation Infrastructure roads,proximityto Organised Development markets,schools) Retail (offices) (malls/popular highstreets)

NOIDA Good Average Good Good Good Good Expressway

Gurgaon Golf Good Average Good Good Good Good Course Road

NOIDA Good Low Average Good Good Good Sector 112 to 119

Gurgaon NH 8 Good Average Good Average Good Good

Gurgaon Average Average Average Average Good Good - Sohna Road

NOIDA Expressway

Gurgaon Golf Course Road

NOIDA Sector 112 to 119

Gurgaon NH 8

Gurgaon-Sohna Road

Recommended Locations Growth CorridorNOIDAExpresswaySEZIT ParksMalls1200 acre township-Jaypee350 acre township-Unitech5 five star hotels areproposed

NH8ExpresswayReliance SEZIT ParksMallsSeveral townships proposedNH8 - As per the new master plan a huge belt along the NH8been demarcated forresidential & commercialdevelopment

DELHI MAP

Map not to scale.


“ICICI Securities Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, a public issue of its equity shares and to file a Draft Red Herring Prospectus with SEBI.” This report has been prepared by ICICI Property Services. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise, without prior permission of the publisher, ICICI Property Services. The facts of these profiles are believed to be correct at the time of publication but cannot be guaranteed. Please note that the findings, conclusions and recommendations are based on information gathered in good faith from both primary and secondary sources, whose accuracy we are not always in a position to guarantee. ICICI property services cannot accept any liability whatsoever for actions taken based on any information that may subsequently prove to be incorrect.

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