New Delhi, October 07, 2018: India’s largest real estate transaction player Square Yards has facilitated an investment of Rs. 550 crore in the real estate projects across Yamuna Expressway, over the past 12 months, with 40% of the contribution from the Non Resident Indian (NRI) and foreign investor segments. The trend is a sign of revival in real estate investing market, which has been going through slowdown for quite a while.
Commenting on the development, Anupam Rastogi, Principal Partner and Head – NRI Vertical, Square Yards, said, “The comeback of NRI and foreign investors in the India market is broadly due to enhanced regulatory environment and transparency. As far as Yamuna Expressway is concerned, the belt has been under the spotlight owing to the upcoming international airport in Jewar and extension of Metro rail services in Greater Noida.”
“Out of the total foreign investments, around 95% contribution came from the GCC countries such as UAE, Saudi Arabia, Kuwait, Oman and Qatar, and the rest from Australia, Canada, UK and USA. Yamuna Expressway belt is an upcoming market and property prices are floating at low to moderate levels currently. That is why, investors are keen to grab fairly-large properties in the ticket size of Rs. 50 lakh,” he added.
According to Kapil Malhotra, Principal Partner & Head – North & East India, Square Yards, “Another prime factor that goes in the favour of buyers is the availability of flexible payment plans. Subvention plans under which one can pay 20-40% amount upfront and the rest on possession are the most popular ones in the market. Furthermore the belt is awash with high-quality projects with all types of properties including villas, high-rise apartments, low-rise independent floors and plots.”
Furthermore, the Yamuna Expressway belt has already been recognized for its superior infrastructure, especially its seamless connectivity with Noida and New Delhi through roads and metro rail services which are scheduled to be launched in November this year. At the same time, the property prices in this zone are in the modest range of Rs. 2,750-4,000 per sqft, which is fairly less than the range of Rs. 4,000-7,000 per sqft in Noida and far less than Gurgaon. Therefore, a number of people working in Noida, New Delhi and Gurgaon are considering Greater Noida for living.
Of late, the Noida-Greater Noida belt has witnessed a flurry from commercial real estate perspective as well. Recently, Samsung inaugurated its largest mobile manufacturing unit in this zone and that is touted as the largest mobile handset manufacturing facility in the world. This zone is already housing sprawling campuses of HCL, Max Life and the likes while companies like Infosys have also announced their set-up at the location. The trend is likely to catch pace in the coming quarters as the Metro rail connectivity goes functional and airport construction progresses.
According to industry reports, the inflow of foreign capital into the real estate sector registered a 31 per cent growth on a year-on-year basis in FY2017-18 to USD 2.6 billion (INR18,000 crore approx). In the current fiscal, the quarter ending June 2018 alone registered an inflow of USD 1.08 billion i.e. INR 7,500 crore approx.
NewsVoir
