study of real estate pricing around noida metro

PROPERTY DEVELOPMENT AROUND METRO STATIONSREAL ESTATE DEVELOPMENT BETWEEN NOIDA SECTOR 16 – NOIDA CITY CENTRE METRO STATIONS

GROUP-2MBEM-II, SEM-IIIS.P.A, NEW DELHI

REAL ESTATE MANAGEMENT

INTRODUCTION STUDY AREA

NOIDA GOLF COURSE METRO STATION

NOIDA CITY CENTRE METRO STATION

BOTANICAL GARDEN METRO STATION

NOIDA SEC – 18 METRO STATION


To study the impact of metro on the real estate, the terminal stations of the “blue line” of Delhi Metro were identified.

The stations covered in this study are – •Noida Sector 16 Metro Station•Noida Sector 18 Metro Station•Botanical Garden Metro Station•Noida Golf Course Metro Station•Noida City Centre Metro Station

For the purpose of the study, the region of influence of the metro stations was limited to areas within 1km from the metro.

LEGENDRegion of InfluenceExisting Metro Line

Proposed Metro Line

Demarcation within Zone

REAL ESTATE DEVELOPMENT NOIDA SECTOR 16 METRO STATION

Apart from Sector 15 and Harola Village,The area around Noida Sector 16 Metro Station is mostly Small Scale Industrial and Commercial.Most of the offices in Sector 3 belong to IT and Software companies.Other Amenities around Sector 16 Metro Station include – •Post Office Dispatch Center(Sector 16)•Noida Public Library, Mahamaya Balika College (Sector 15)•ISBT (Sector 16)


HAROLA VILL.

SECTOR - 2

SECTOR - 3

SECTOR - 4

SECTOR - 5

SECTOR - 16

SECTOR – 15A

SECTOR – 15

Sector 16World Trade Tower34 floor office space located on DND Expressway near metro station sector 16 is a prestigious office space with business centers and a five star hotel is a leasehold property.Prevalent Rental Value- Rs.75 to Rs.125 per sq.ftCapital Value – Rs.12000 – Rs.14000 per sq.ft

REAL ESTATE DEVELOPMENT NOIDA SECTOR 18 METRO STATION

Sector 18 and Atta Village are the commercial centres of Noida.Sector 16A consists of Film City and Institutional Areas.Sector 17, 19, 27, 26, 20 are primarily residential.Other amenities includeKalibari (Sector 27)Shiv Mandir (Sector 19)Post Office (Sector 18)Police Station (Sector 20)

BHEL TownshipRental Value 1bhk-930 sq.ft Rs.165002 bhk- 1200 sq.ft – Rs.18000/-3 bhk-Unfurnished-1800 sq.ft – Rs.25000/-3bhk-Fully furnished-2400 sq.ft – Rs 45000/-


SECTOR - 18

ATTA VILL.

SECTOR-27.

SECTOR-19.

SECTOR-17

SECTOR-16A

FILM CITY

SECTOR-26

SECTOR-20

Sector 19, Pocket ERental Value1bhk-930 sq.ft Rs.165002 bhk- 1200 sq.ft – Rs.18000/-3 bhk-Unfurnished-1800 sq.ft – Rs.25000/-3bhk-Fully furnished-2400 sq.ft – Rs 45000/-

Wave OneCommercial Complex Retail Spaces, Office Spaces , Multiplex and parking Spaces495 sq.ft – Rs.12000 /- to Rs. 35000/-

REAL ESTATE DEVELOPMENT BOTANICAL GARDEN METRO STATION

Sector 28, 37 were found to have low rise residential area consisting of independent bungalows and group co-operative housing.Sector 44 consists of builder’s flats.Sector 38A was marked as a botanical garden

Noida Sector 18- GIP MallProject Details240+ outlets1 million sq. ft. of retail space.Annual footfalls: 10 million (Approx)

BOTANICAL GARDEN METRO STATION

CHALERA VILLAGE

SECTOR-44

SECTOR-38A

SECTOR-28

SECTOR-37

Noida Sector 37Residential – Rental Rates – 2 BHK apartment (1100 sqft) in varun enclave Rs. 18000 rent 3 BHK apartment (2500 sqft) in brahampura apartment-Rs. 24000Property Rates-900-1500sq.ft @ Rs. 6500/sq.ft2500 sq.ft @ Rs. 6700/sq.ftCommercial/Office Space – 226 sq.ft available on lease @Rs. 23000/sq.ft (Ganga/Brahmaputra Market)

SECTOR 43 NOIDACommercial land 950sqyd @250000/sqydResidential land 350sqyd 100000/sqyd

REAL ESTATE DEVELOPMENT GOLF COURSE METRO STATION

Sector 30, 31, 36, 37, 39, 40 were found to have low rise residential area consisting of independent bungalows and group co-operative housing.

Few builders flats are present, but no demarcated zone as such

Sector 36, Sector 40Residential – Independent Houses - 1100-1800 sq.ft @ Rs. 1000-2500/sq.ftPlot – Rs. 125000/sq.mCommercial (Block A Market)– 750-950 sq.ft @ Rs.45/sq.ft (rental)

GOLF COURSE METRO STATION

NITHARI VILL.

SADARPUR VILL.

GOLF COURSE (SEC 38)

SECTOR - 31

SECTOR - 37

SECTOR - 36

SECTOR - 39

SECTOR - 40

SECTOR - 30

Sector 37Commercial/Office Space – 226 sq.ft available on lease @Rs. 23000/sq.ft (Ganga/Brahmaputra Market)

REAL ESTATE DEVELOPMENT NOIDA CITY CENTRE METRO STATION

Wave City CenterResidential – 2000-3000 sq.ft @ Rs. 7800/sq.ft1500-2000 sq.ft @ Rs. 8000/sq.ftCommercial – 2000-3000sq.ft @ Rs. 15500/sq.ft - Rs. 16500/sq.ft Office Spaces – 745-1300 sq.ft@ Rs. 8000-8200/sq.ft

Noida Sector 34Residential – 900-1200sq.ft @ Rs. 5500/sq.ft300 sq.m Independent House @ Rs. 160000-190000/sq.mCommercial – 750-950 sq.ft @ Rs.45/sq.ft

Noida Sector 50,51 (and Sectors 36, 40)Residential – 900-1200sq.ft @ Rs. 5500/sq.ft1200-200sq.ft (builders’ flats) @ Rs. 5300/sq.ft300 sq.m Independent House @ Rs. 180000-190000/sq.mCommercial – 750-950 sq.ft @ Rs.45/sq.ft

NOIDA CITY CENTER METRO STATION

MORNA VILL.

AGAPUR VILL.

SECTOR-51

SECTOR-50

SECTOR-41

SECTOR-32

SECTOR-39

SECTOR-33

SECTOR-34

SECTOR-35

Noida Sector – 32 is the commercial centre for Noida.Sector – 39 is marked as an institutional area.The remaining sectors are low density residential.

Study of Impact of Metro on Real Estate

NOIDA SECTOR 16 – NOIDA CITY CENTRE METRO STATIONS

FACTORS TO BE STUDIED TO ANALYSE THE IMPACT OF METRO ON REAL ESTATE PRICES

Location Distance from Metro station Neighborhood

Connectivity Public transport Distances to airport and railway station

Infrastructure Road networks Services Public parks, greenery, recreational spaces Schools, colleges, market areas, hospitals

Building Specifications Finishes, size and layout Amenities, parking, security

Pollution Noise Traffic Congestion

Benefits Reduction in Travel time Increase in Value- Tourism attractions ,

Heritage value etc.

REAL ESTATE DEVELOPMENT Questionnaire

1. Approximate distance from Metro line…………………..

2. Positive Impacts of Metro ( Rank on a scale of 1 to 5 , 1 being strongly disagree and 5 being strongly agree)

Helped reduction of pollution Promoted Rapid Growth Improved Accessibility Helped in reduction of Congestion Reduced Time of Travel Improved the quality of Life

3. Has Influenced Capital Costs of Properties in your area?

4. Negative Impacts of Metro ( Rank on a scale of 1 to 5 , 1 being strongly disagree and 5 being strongly agree)

Increased Noise Pollution Increased Air Pollution Increased or resulted in Population Rise Triggered encroachment around stations Aggravated Parking Problems

Responses for survey and analysis were categorized based on the distance from the metro station into two categories

Category A:Within 50 m of Metro Station and Metro LineCategory B:Within 1 km beyond category A

REAL ESTATE DEVELOPMENT Questionnaire – Analysis Outcomes

Total Responses: 33Category A:14 Mean: 1.29Category B:19 Mean: 1.16

Area – Noida Sector 16

Autos, Rikshas

Encroachment

Inc. No. of commercial shops

parking

Ppl inflow

less private vehicle & Inc. Pedestrians

0 1 2 3 4 5 6

1.84

3.84

5.16

1.16

3.32

5.68

Causes for CONGESTION(Average Rank)

Category BCategory A

Factor: Congestion

Metro Noise

congestion noise

cracks due to vibrn

appearance hampered

influx of outsiders

encroached existing bldgs

hampered infrastructure

0 1 2 3 4 5 6 7

5.95

1

5.79

4.58

2.42

4.42

3.84

Causes for DISCOMFORT(Average Rank)



Questionnaire – Analysis OutcomesArea – Noida Sector 16

Factor: Discomfort

Access

comm land use

less travel time

already peak devt.

prefer beyond line

0 1 2 3 4 5 6

1

2.17

4

5

2.83

Causes for RAPID GROWTH(Average Rank)




Factor: Rapid Growth

connectivity n accessibility

Visual experience in the metro travelling

0 0.5 1 1.5 2 2.5

1

2

Causes for ADDED TOURISM VALUE- (Average Rank)




Factor: Add Tourism Value

Area – Noida Sector 16 Questionnaire – Analysis Outcomes

Study Inferences

Category A :Strongly Agreed that there was congestion, Rapid Growth and Discomfort due to Metro .Category B: Agreed that Metro Added Tourism Value

Total Responses: 33Category A:14 Category B:19

Factor/ Category

Category A Category B

Congestion 1.29 1.16

Discomfort 2.07 2.05

Rapid Growth 1.93 0.89

Added Tourism Value

1.57 2.00

Summary of Mean Values

Category A: Within 50 m of Metro Station and Metro LineCategory B:Within 1 km beyond Category A


Factor: CongestionArea – Botanical GardenTotal Responses: 30

Category A:12 Mean: 1.75Category B:18 Mean: 1.00

Autos, Rikshas

Encroachment


parking

Ppl inflow


0 1 2 3 4 5 6

1.33

1.67

4.33

4.00

4.00

5.67



Metro Noise

congestion noise

cracks due to vibrn

appearance hampered

influx of outsiders



0 1 2 3 4 5 6 7 8

6.67

1.00

6.33

2.67

2.33

4.00

5.00




Questionnaire – Analysis OutcomesArea – Botanical Garden

Factor: Discomfort

Access

comm land use

less travel time

already peak devt.

prefer beyond line

0 0.5 1 1.5 2 2.5 3 3.5 4 4.5 5

4.33

1.33

1.67

4.00

3.67








0 0.5 1 1.5 2 2.5

1

2






Area – Botanical Garden Questionnaire – Analysis Outcomes

Study Inferences

Category A :Strongly Agreed that there was congestion due to Metro , Neutral for discomfort.

Category B: Strongly Agreed that Metro Added Tourism Value


Factor/ Category





Added Tourism Value

1.25 1.67




Factor: CongestionArea – Golf CourseTotal Responses: 34


Autos, Rikshas

Encroachment


parking

Ppl inflow


0 1 2 3 4 5 6 7

1.26

1.74

4.47

4.00

3.79

5.74



Metro Noise

congestion noise

cracks due to vibrn

appearance hampered

influx of outsiders



0 1 2 3 4 5 6 7 8

6.7

1

6.3

2.7

2.3

4

5




Questionnaire – Analysis OutcomesArea – Golf Course

Factor: Discomfort

Access

comm land use

less travel time

already peak devt.

prefer beyond line

0 0.5 1 1.5 2 2.5 3 3.5 4 4.5 5

4.44

1.28

1.72

4.22

3.56








0 0.5 1 1.5 2 2.5

1

2






Area – Golf Course Questionnaire – Analysis Outcomes

Study Inferences

Category A :Strongly Agreed that there was congestion due to Metro , Neutral for discomfort.

Category B: Strongly Agreed that Metro Added Tourism Value


Factor/ Category





Added Tourism Value

1.21 1.70




Factor : CongestionArea – Noida City CenterTotal Responses: 34


Autos, Rikshas

Encroachment


parking

Ppl inflow


0 1 2 3 4 5 6

1.84

3.84

5.16

1.16

3.32

5.68



Metro Noise

congestion noise

cracks due to vibrn

appearance hampered

influx of outsiders



0 1 2 3 4 5 6 7

5.68

1

5.74

4.47

2.53

4.53

4.05




Factor: Discomfort

Questionnaire – Analysis OutcomesArea – Noida City Center

Access

comm land use

less travel time

already peak devt.

prefer beyond line

0 1 2 3 4 5 6

1

2.18

4

5

2.82








0 0.5 1 1.5 2 2.5

1

2






Area – Noida City Center Questionnaire – Analysis Outcomes

Study Inferences

Category A :Strongly Agreed that there was congestion and discomfort due to Metro.

Category B: Agreed that Metro Added Tourism Value


Factor/ Category





Added Tourism Value

1.40 2.00



study of real estate pricing around noida metro

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