Delhi & NCR Report - ICICI Home Finance
Delhi & NCR Report - ICICI Home Finance
Delhi & NCR Report - ICICI Home Finance
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March 2008<br />
DILLI HEIGHTS<br />
<strong>NCR</strong>-<strong>Delhi</strong> Residential Real Estate Review
<strong>NCR</strong> - Overview Faridabad, Gurgaon, Noida, Greater Noida and Ghaziabad<br />
Increasing purchasing power among young urban<br />
professionals, easy availability of finance, and changing<br />
attitudes towards home ownership are conditions<br />
that have contributed to the growth of the residential<br />
market.<br />
As per estimates by the Central Statistical Organization,<br />
the per capita income in <strong>Delhi</strong> is more than double the<br />
value for the country as a whole. With an increase in<br />
demand for quality housing, residential property rates<br />
have risen steeply over the past few years.<br />
Gurgaon witnessed a huge spate of activity in the<br />
residential market owing to increasing demand from<br />
young professionals working in the region, many of<br />
whom prefer to live near their workplace. In the long<br />
term, improving infrastructure will make NOIDA a<br />
preferred residential destination. The NOIDA metro is<br />
set to be functional by June 2009. The stations covered<br />
would include Sector 15, 16, 17, 18, 37, 38 and 32. The<br />
whole stretch will be on elevated line and trains would<br />
run at an interval of six minutes between stations. Also,<br />
the existing eight-lane DND Toll bridge flyover provides<br />
ease and comfort to road-traffic into and out of NOIDA.<br />
The 28km <strong>Delhi</strong> to Gurgaon expressway is another<br />
very important road construction project currently<br />
underway. The project comprises the widening and<br />
conversion of the <strong>Delhi</strong> to Gurgaon section of the<br />
National Highway (NH)-8 into a six- to eight-lane accesscontrolled<br />
highway on a Build, Operate, and Transfer<br />
(BOT) basis. The highway provides important links to<br />
the western ports and the North Indian markets, as<br />
well as the newly developed townships and localities<br />
such as Dwarka. The residential real estate market in<br />
the <strong>NCR</strong> shall continue its momentum both in terms<br />
of demand and supply, but is unlikely to witness any<br />
unprecedented rise in values like in the year 2006-07.<br />
<br />
<strong>ICICI</strong> Property Services
<strong>NCR</strong> - <strong>Delhi</strong> at a glance<br />
Residential Market<br />
Area (<strong>Delhi</strong>)<br />
Location (<strong>Delhi</strong>)<br />
Population (2001)<br />
(<strong>Delhi</strong>+New <strong>Delhi</strong>+<br />
Faridabad+Gurgaon)<br />
1483 sq.km.<br />
latitude 28.38°N and<br />
longitude 77.12°E<br />
14.84 million<br />
No. of Households (2001) (in ‘000s) 2836.745<br />
(<strong>Delhi</strong>+New<strong>Delhi</strong>+Faridabad<br />
+Gurgaon)<br />
House Ownership (2006) (<strong>Delhi</strong>): 9047<br />
Owned (in ‘000s)<br />
Rented (‘000s) 2796<br />
No. of SEZs 22<br />
(notified as on Jan 24, 2008)<br />
No. of Graduates (2001)<br />
(<strong>Delhi</strong>+New<strong>Delhi</strong>+<br />
Faridabad+Gurgaon)<br />
Consumer Price Index 523<br />
(as in Dec 2007) (<strong>Delhi</strong>)<br />
% change in CPI 4.8<br />
Dec 2006-Dec 2007 (<strong>Delhi</strong>)<br />
Crime Rate (<strong>Delhi</strong>) 380.6<br />
1.64 million<br />
Provided by employer (‘000s) 636<br />
Others (‘000s) 31<br />
No. of property related transactions 16139<br />
in Oct 2007 (<strong>NCR</strong>-<strong>Delhi</strong>)<br />
Growth/Drop in the no. of property 15%<br />
related transactions in<br />
Oct 2007 over Q2 2007 (<strong>NCR</strong>-<strong>Delhi</strong>)<br />
Source: Census of India 2001, Marketing Whitebook 2007-<br />
08, <strong>ICICI</strong> Property Services<br />
Residential Units to enter 80391<br />
the market by Dec 2009<br />
Source: <strong>ICICI</strong> Property Services, Ministry of Commerce &<br />
Industry, Dept. of Commerce, CSO, <strong>NCR</strong>B, Census of India<br />
-2001<br />
<strong>ICICI</strong> Property Services
RASHTRAPATI BHAVAN<br />
Rashtrapati Bhavan, the official residence of the President of India, is located at<br />
the west end of the 2 1/2km long Rajpath (King’s path), a tree-lined avenue flanked<br />
by lawns with orderly flowerbeds and clipped hedges, with the India gate at the<br />
opposite end. Designed by Sir Edwin L. Lutyens and completed in 1929, this<br />
palatial building on the Raisina hill was formerly the Viceregal Lodge (Viceroy’s<br />
House), during the British rule.<br />
<br />
<strong>ICICI</strong> Property Services
Prime Residential Locations in <strong>NCR</strong>-<strong>Delhi</strong><br />
NOIDA Gurgaon Ghaziabad Faridabad North <strong>Delhi</strong> South <strong>Delhi</strong> East <strong>Delhi</strong> West <strong>Delhi</strong><br />
Major Major Major Major Major Major Major Major<br />
Locations Locations Locations Locations Locations Locations Locations Locations<br />
Sector 93 Golf Course Indirapuram Old Faridabad Pritampura Chanakya Preet Janakpuri<br />
Road puri Vihar Zone<br />
Sector 50 Sector 49 Vasundhra Sector 21C Rohini Lajpat Mayur Punjabi<br />
Nagar Vihar Zone Bagh<br />
Sector 51 Sector 43 Rajnagar Sector 45 Ashok Vihar Greater Patparganj Rohini<br />
Kailash Zone<br />
Sector 52 Sector 55 Vaishali Sector 42 Model Town Safdarjung Paschim<br />
Vihar<br />
Sector 44 Sector 56 Kaushambi Sector 33 Civil Lines Vasant Kunj Saraswati<br />
Vihar<br />
Sector 61 Sohna Road Old Ghaziabad Trans Canal Rajpur Road Mehrauli Kohat<br />
Enclave<br />
Sector 49 M G Road NH 58 Meera<br />
Bagh<br />
Sector 18 Old Gurgaon<br />
RBI Enclave<br />
- Sector 92<br />
Sector 14 Sector108 Bhaera<br />
Enclave<br />
Sector 15 Sector 109 Guru Har<br />
Kishan<br />
Nagar<br />
Sector 30<br />
Vikaspuri<br />
Sector 31<br />
Shivaji<br />
Enclave<br />
Sector 128<br />
Rajouri<br />
Gaden<br />
Hari Nagar<br />
Kirti Nagar<br />
Ramesh<br />
Nagar<br />
<strong>ICICI</strong> Property Services
Supply of Residential Units (by Category A,B & C developers) coming up by December 2009<br />
Average Area of an Apartment No. of Units Area in million sq.ft<br />
NOIDA 2 BHK 1100 - 1200 5.40<br />
3/4 BHK 1700 - 2300 (3 BHK) 16854 40.41<br />
2300 - 3400 (4 BHK)<br />
Ghaziabad 2 BHK 1100 - 1275 13148 13.35<br />
3/4 BHK 1300 - 1800 (3 BHK) 17354 22.29<br />
1800 - 2100 (4 BHK)<br />
Gurgaon 2 BHK 800 - 1200 8500 15.56<br />
3/4 BHK 1400 - 2500 (3 BHK) 16775 31.85<br />
2500 & above (4 BHK)<br />
Faridabad 2 BHK 900 - 1100 2900 5.20<br />
3/4 BHK 1300 - 1500 (3 BHK) 3600 6.30<br />
1700 - 2900 (4 BHK)<br />
<strong>Delhi</strong> 2 BHK 1600 100 0.16<br />
3 BHK 2100 110 0.23<br />
4 BHK 2500 - 5500 60<br />
Total supply to enter 80391 140.36<br />
the market in<br />
<strong>Delhi</strong>-<strong>NCR</strong> by Dec 2009<br />
Distribution of residential supply<br />
No. of units across <strong>NCR</strong>-<strong>Delhi</strong> by category A, B<br />
& C developers<br />
Source: <strong>ICICI</strong> Property Services<br />
<br />
<strong>ICICI</strong> Property Services
SEZs notified as on Jan 24, 2008<br />
S. No. Name Location Type Area (in hectares)<br />
1 DLF Ltd. Gurgaon IT/ ITES 12.06<br />
2 M/s DLF Cyber City Gurgaon IT/ ITES 10.73<br />
Developers Ltd.<br />
3 Dr. Fresh Health Pvt. Ltd. Gurgaon IT/ ITES 23.43<br />
4 Luxor Cyber City Pvt. Ltd. Gurgaon IT/ ITES 27.08<br />
5 Parsvanath SEZ Ltd. Gurgaon IT/ ITES 42.70<br />
6 GHI Finlease & Investment Ltd. Gurgaon IT/ITES 12.94<br />
7 Gurgaon Infospace Ltd. Gurgaon IT/ITES 11.20<br />
8 Canton Buildwell Pvt. Ltd. Gurgaon IT/ITES 10.16<br />
9 Unitech Realty Projects Ltd. Gurgaon IT/ITES 10.04<br />
10 Suncity Haryana SEZ Gurgaon IT 67.64<br />
Developers Pvt. Ltd.<br />
11 Metro Valley Business Gurgaon IT 10.39<br />
Park Pvt. Ltd.<br />
12 M/s Orient Craft Gurgaon Textiles 114.83<br />
Infrastructure Ltd.<br />
13 Uppal Developer Pvt. Ltd. Gurgaon Multi- Services 106.31<br />
14 Selecto Systems Pvt. Ltd. Faridabad IT/ ITES 3.34<br />
15 Moser Baer India Ltd. Greater NOIDA Non-conventional 11.90<br />
energy including solar<br />
energy equipments/cell<br />
16 Ansal IT City & Parks Ltd. Greater NOIDA IT/ITES 30.41<br />
17 NIIT Technologies Ltd. SEZ Greater NOIDA IT/ITES 10.2<br />
18 WIPRO Ltd. Greater NOIDA IT/ITES 20.23<br />
19 HCL Technologies Ltd. NOIDA IT/ITES 16.91<br />
20 OSE Infrastructure Ltd. NOIDA IT/ITES 10.12<br />
21 Seaview Developers Ltd. NOIDA IT 12<br />
22 Unitech Infra Con Ltd. NOIDA IT/ITES 20.23<br />
Total 594.85<br />
Source: Ministry of Commerce & Industry, Dept. of Commerce<br />
<strong>ICICI</strong> Property Services
Organised Retail Development<br />
S. No. Mall Name Site Location Total Area in million Status<br />
sq. ft. (Approx)<br />
1 City Centre Gurgaon 0.25 Operational<br />
2 Mega Mall Gurgaon 0.30 Operational<br />
3 Grand Mall Gurgaon 0.30 Operational<br />
4 South Point Gurgaon 0.18 Under Construction<br />
5 Star Mall Gurgaon 0.35 Under Construction<br />
6 Mall of India Gurgaon 5.00 Under Construction<br />
7 Senior Mall Gurgaon 0.25 Under Construction<br />
8 Ambi Mall Gurgaon 1.80 Operational<br />
9 Gold Souk Gurgaon 0.18 Operational<br />
10 House2<strong>Home</strong> Gurgaon 0.20 Under Construction<br />
11 MGF Metropolitan Mall Gurgaon 0.40 Operational<br />
12 Raheja Mall Gurgaon 0.28 Under Construction<br />
13 Omaxe Plaza Gurgaon 0.25 Operational<br />
14 Sahara Mall Gurgaon 0.25 Operational<br />
15 Wedding Mall Gurgaon 0.17 Completed but not Operational<br />
16 JMD Regent Mall Gurgaon 0.25 Under Construction<br />
17 Mega City Gurgaon 0.20 Operational<br />
18 MGF Plaza Gurgaon 0.15 Operational<br />
19 Gurgaon Central Gurgaon 0.25 Completed but not Operational<br />
20 ILD Trade Centre Gurgaon 0.50 Under Construction<br />
21 Niho Mall Gurgaon 0.08 Completed but not Operational<br />
22 Landmark Mall Gurgaon 0.30 Under Construction<br />
23 MGF Metropolis Gurgaon 0.50 Under Construction<br />
24 DLF Tower <strong>Delhi</strong> 0.20 Proposed<br />
25 Splender Forum <strong>Delhi</strong> 0.15 Under Construction<br />
26 Sprit GlobusKopia <strong>Delhi</strong> 0.15 Under Construction<br />
27 DLF Vasant Place <strong>Delhi</strong> 0.90 Completed but not Operational<br />
28 Courtyard <strong>Delhi</strong> 0.60 Under Construction<br />
29 South Court <strong>Delhi</strong> 0.50 Under Construction<br />
30 Galleria <strong>Delhi</strong> 0.15 Completed but not Operational<br />
31 Metrowalk <strong>Delhi</strong> 0.25 Operational<br />
<br />
<strong>ICICI</strong> Property Services
S. No. Mall Name Site Location Total Area in million Status<br />
sq. ft. (Approx)<br />
32 Inderlok Metro <strong>Delhi</strong> 0.15 Operational<br />
33 Shahdara Metro <strong>Delhi</strong> 0.10 Completed but not Operational<br />
34 Parsvnath Rohini Mall <strong>Delhi</strong> 0.40 Under Construction<br />
35 Ansals Plaza <strong>Delhi</strong> 0.10 Operational<br />
36 Ambi Mall <strong>Delhi</strong> 0.80 Under Construction<br />
37 City Square <strong>Delhi</strong> 0.25 Operational<br />
38 Cross River Mall <strong>Delhi</strong> 0.40 Operational<br />
39 Shop’in Park - East<br />
(Piramyd) closed<br />
<strong>Delhi</strong> 0.15 Completed but not Operational<br />
40 Shop’in Park - North <strong>Delhi</strong> 0.25 Operational<br />
41 TDI Mall (Rajouri Garden) <strong>Delhi</strong> 0.15 Operational<br />
42 TDI Paragon <strong>Delhi</strong> 0.15 Operational<br />
43 V3S East Centre <strong>Delhi</strong> 0.30 Operational<br />
44 V3S Ring Road Mall <strong>Delhi</strong> 0.40 Completed but not Operational<br />
45 Vasant Square <strong>Delhi</strong> 0.40 Under Construction<br />
46 Wedding Souk <strong>Delhi</strong> 0.10 Operational<br />
47 West Gate <strong>Delhi</strong> 0.40 Operational<br />
48 Southern Park <strong>Delhi</strong> 0.20 Operational<br />
49 Citadel <strong>Delhi</strong> 0.17 Under Construction<br />
50 Orbit Plaza <strong>Delhi</strong> 0.25 -<br />
51 Capitol City Mall <strong>Delhi</strong> 0.25 Under Construction<br />
52 Pacific (Rajouri Garden) <strong>Delhi</strong> 0.60 Under Construction<br />
53 StarCity Mall <strong>Delhi</strong> 0.40 Operational<br />
54 Akshardham Metro Mall <strong>Delhi</strong> 0.40 Under Construction<br />
55 Azadpur Metro Mall <strong>Delhi</strong> 0.30 Under Construction<br />
56 Select City Walk <strong>Delhi</strong> 0.50 Operational<br />
57 MGF Metropolitan <strong>Delhi</strong> 0.50 Under Construction<br />
58 MGF Khyber Pass <strong>Delhi</strong> 0.40 Under Construction<br />
59 Hyper Mall <strong>Delhi</strong> 0.40 Completed but not Operational<br />
60 V3S Rohini Dist Centre <strong>Delhi</strong> 0.25 Under Construction<br />
61 D Mall <strong>Delhi</strong> 0.30 Under Construction<br />
62 Kings Mall <strong>Delhi</strong> 0.25 Under Construction<br />
63 M2K <strong>Delhi</strong> 0.07 Operational<br />
64 Mangalam Paradise <strong>Delhi</strong> 0.15 Under Construction<br />
<strong>ICICI</strong> Property Services
S. No. Mall Name Site Location Total Area in million Status<br />
sq. ft. (Approx)<br />
65 W mall <strong>Delhi</strong> 0.10 Completed but not Operational<br />
66 North Gate <strong>Delhi</strong> 0.20 Completed but not Operational<br />
67 Town Square Noida 1.70 Under Construction<br />
68 The Great India Place Noida 1.50 Operational<br />
69 Gardens Galleria Noida 0.80 Proposed<br />
70 Spice World Noida 0.35 Operational<br />
71 Senior Mall Noida 0.20 Completed but not Operational<br />
72 Ansals Plaza Gr. Noida 0.75 Operational<br />
73 NRI City Centre Gr. Noida 0.50 Under Construction<br />
74 Omaxe Connaught Place Gr. Noida 1.90 Under Construction<br />
75 MSX Mall Gr. Noida 0.50 Under Construction<br />
76 Grand Venezia Gr. Noida 1.00 Under Construction<br />
77 I Mall Gr. Noida 0.50 Proposed<br />
78 CentreStage Mall Noida 0.40 Operational<br />
79 Shoprix Mall Noida 0.15 Operational<br />
80 SRS World Faridabad 0.18 Operational<br />
81 Ansals Crown Plaza Faridabad 0.18 Operational<br />
82 Destination Point Faridabad 0.25 Proposed<br />
83 Crown Interiorz Faridabad 0.65 Completed but not Operational<br />
84 Eldeco Station1 Faridabad 0.20 Completed but not Operational<br />
85 Eros E-Square Mall Faridabad 0.40 Completed but not Operational<br />
86 Eros EF3 Mall Faridabad 0.40 Completed but not Operational<br />
87 City Mall Faridabad 0.30 Completed but not Operational<br />
88 Pristine Mall Faridabad 0.20 Operational<br />
89 MB Mall Faridabad 0.40 Under Construction<br />
90 Gardenia Sky Mall Faridabad 0.20 Under Construction<br />
91 Eros market place Ghaziabad 0.25 Under Construction<br />
92 The East End Mall Ghaziabad 0.10 Operational<br />
93 Shopprix Mall Ghaziabad 0.10 Operational<br />
94 Shipra Mall Ghaziabad 0.45 Operational<br />
95 Pacific Ghaziabad 0.50 Operational<br />
96 One Mall Ghaziabad 0.10 Completed but not Operational<br />
97 MMX Mall Ghaziabad 0.25 Under Construction<br />
98 Parsvnath Majestic Arcade Ghaziabad 0.20 Under Construction<br />
10 <strong>ICICI</strong> Property Services
S. No. Mall Name Site Location Total Area in million Status<br />
sq. ft. (Approx)<br />
99 Galaxie Ghaziabad 0.10 Operational<br />
100 East <strong>Delhi</strong> Mall (EDM) Ghaziabad 0.50 Operational<br />
101 Ansal Plaza<br />
(Factory Outlet Mall)<br />
Ghaziabad 0.20 Operational<br />
102 AEZ Carnival Country Mall Ghaziabad 0.30 Operational<br />
103 Aerens Europark Ghaziabad 0.60 Under Construction<br />
104 Aditya Mega Mall Ghaziabad 0.25 Under Construction<br />
105 Ashiana City Mall Ghaziabad 0.21 Completed but not Operational<br />
106 D Mall Ghaziabad 0.20 Under Construction<br />
107 Mahagun Metro Mall Ghaziabad 0.16 Under Construction<br />
108 Jaipuria Sunrise Mall Ghaziabad 0.25 Under Construction<br />
109 Angel Mall Ghaziabad 0.20 Under Construction<br />
110 Express Mall Ghaziabad 0.20 Under Construction<br />
111 Express Plus Mall Ghaziabad 0.20 Under Construction<br />
112 Celebration Mall Ghaziabad 0.30 Under Construction<br />
Source: <strong>ICICI</strong> Property Services<br />
<strong>ICICI</strong> Property Services 11
RED FORT<br />
12 <strong>ICICI</strong> Property Services<br />
It first occurred to the omniscient mind that he should select on the<br />
banks of the Yamuna river some pleasant site, distinguished by its<br />
genial climate, where he might found a splendid fort and delightful<br />
edifices, agreeably to the promptings of his generous heart, through<br />
which streams of water should be made to flow, and the terraces<br />
of which should overlook the river.’ Muhammad Tahir, Inayat Khan<br />
Shahjahan-nama, 1657-58.
NOIDA (New Okhla Industrial Estate Authority) Major Locations: Sector 93, sector 128, 50, 51, 52, 44,<br />
61, 93, 49, 19, 120, Old NOIDA-sector 18, 14, 15, 30, 31<br />
NOIDA comprises 167 sectors and out of which 70<br />
sectors have already been developed. New sectors are<br />
being developed in a phased manner. Property prices<br />
generally follow a similar trend in almost all residential<br />
sectors. The major developers in the area are Jaypee,<br />
Unitech, ATS , Eldeco, Supertech, Parsvnath, Omaxe.<br />
There are about 50 societies in NOIDA.<br />
Growth Stimulators<br />
• Development of commercial & industrial activity<br />
leading to creation of jobs has led to increase in<br />
demand of properties in NOIDA.<br />
• The rush of developers during recent auctions is<br />
also an indicator of the same.<br />
• Planned infrastructure & development of builder<br />
activities by the government are the key real estate<br />
drivers in NOIDA.<br />
• There are various sectors in NOIDA & Greater NOIDA<br />
which are earmarked for the developers.<br />
• Lately NOIDA has become a hub for MNCs &<br />
outsourcing IT services.<br />
• Adobe System, TCS, ATC Labs, Interra, Global Logic<br />
(previously Induslogic), CSC, HCL, EXL, Birlasoft,<br />
Perot, Impetus STMicro Electronics & Xansa have<br />
their offices in NOIDA.<br />
• Indian counterparts of several MNCs are located in<br />
NOIDA.<br />
• Software Technologies Park is also headquartered<br />
in NOIDA.<br />
• NOIDA is fast emerging as a hub for automobile<br />
ancillary units with companies like Daewoo, Escorts,<br />
Honda-SIEL & New Holland Tractors.<br />
• SEZ, better suburban atmosphere in NOIDA &<br />
proximity to <strong>Delhi</strong> also contribute to the development<br />
of this zone.<br />
• The 160 km long Taj Express connecting Greater<br />
NOIDA to Agra, metro connectivity by 2009,<br />
Formula 1 and proposed airport in Greater NOIDA,<br />
connectivity to <strong>Delhi</strong> by DND Flyway, expressways,<br />
highways and district roads, have all boosted the<br />
real estate market of NOIDA.<br />
• NOIDA is known as North India’s only modern, self<br />
contained city.<br />
• Greater NOIDA is India’s cleanest city with more<br />
than 25% of green cover.<br />
• The best destination for IT giants and life style<br />
seekers.<br />
• A very good access point to <strong>Delhi</strong>, NOIDA,<br />
Ghaziabad, Faridabad and Agra that no other <strong>NCR</strong><br />
township can match.<br />
• NOIDA is estimated to witness an IT development<br />
to the tune of 6.5 million sq. ft. by Dec 2009. This<br />
should translate to over 50,000 new jobs getting<br />
created. (Assuming 10% vacancy levels)<br />
<strong>ICICI</strong> Property Services 13
Residential Market in NOIDA<br />
Distribution of 2 & 3/4 BHK in NOIDA<br />
Average Apartment Size of 1100 - 1200<br />
2 BHK in sq.ft.<br />
Average Apartment Size of 1700 - 2300<br />
3 BHK in sq.ft.<br />
Average Apartment Size of 2300 - 3400<br />
4 BHK in sq.ft.<br />
Total Supply (in mn. sq. ft.) 45.81<br />
by Dec. 2009<br />
Total Supply (in no. of units) 21354<br />
by Dec. 2009<br />
Source: <strong>ICICI</strong> Property Services<br />
Note: The areas mentioned are built-up areas<br />
Source: <strong>ICICI</strong> Property Services<br />
Prime Residential Projects in NOIDA<br />
Name of the Project Developer Capital Values for 2 BHK No. of Units Date of Completion<br />
as on Mar 2008 (in INR)<br />
Grand Woods Omaxe 50 - 55 lacs 500 Dec 2009<br />
Twin Towers Omaxe 1.2 Cr (3 BHK) 140 Aug 2010<br />
Jaypee Greens Jaypee 1 Cr 1420 Dec 2010<br />
Grande Unitech 1.8 Cr (3 BHK) 516 Dec 2010<br />
Utopia Eldeco 45 - 55 lacs 438 Mar 2008<br />
Source: <strong>ICICI</strong> Property Services<br />
*Rates mentioned are based on built-up area & are subject to amenities, upkeep & vary from apartment<br />
to apartment within the same building. Rates are subject to change at any given point of time.<br />
14 <strong>ICICI</strong> Property Services
Residential Property Rates in Prime Residential Markets of NOIDA<br />
Location Average Rates (Rs./sq. ft.) Average Rentals (Rs./month) Market Outlook<br />
Express Way 5000 - 5700 17000 - 25000 (1500 sq. ft.) R<br />
Sector 50 4500 - 5000 17000 - 18000 (3 BHK) R<br />
Sector 61, 62 3500 - 4000 15000 - 16000 (3 BHK) R<br />
Greater NOIDA 3000 8000 (3 BHK) S<br />
Source: <strong>ICICI</strong> Property Services<br />
*Rates mentioned are based on built-up area & are subject to amenities, upkeep & vary from apartment to apartment<br />
within the same building. Rates are subject to change at any given point of time.<br />
Property Price Movement (Q4 2004 - Q3 2007) - NOIDA<br />
Source: <strong>ICICI</strong> HFC Mortgage Valuation<br />
Services<br />
Assumption: 100 as a base reference no. for<br />
Q4 2004)<br />
<strong>ICICI</strong> Property Services 15
Map not to scale.<br />
NOIDA MAP
HUMAYUN’S TOMB<br />
Humayun’s Tomb is a complex of buildings of Mughal<br />
architecture located in Nizamuddin East, New <strong>Delhi</strong>.<br />
It encompasses the main tomb of Emperor Humayun<br />
as well as numerous others. This tomb is of particular<br />
cultural significance as it was the first garden-tomb<br />
on the Indian subcontinent which inspired several<br />
major architectural innovations, culminating in the<br />
construction of the Taj Mahal.<br />
16 <strong>ICICI</strong> Property Services
Gurgaon Major Locations: Golf Course Road, Sector 49, 43, 55, 56, Sohna Road, M G Road,<br />
Old Gurgaon - sector 92, 109, 108<br />
Gurgaon is the most rapidly developing colonnade of<br />
Greater <strong>Delhi</strong>. The development in the region has been<br />
predominantly high rise construction along with high<br />
quality villas. The areas of DLF, South City, Sushant<br />
Lok, Sohna Road have witnessed vast apartment<br />
developments. These areas have witnessed large<br />
residential projects launched and completed by<br />
most reputed builders of <strong>Delhi</strong>-<strong>NCR</strong>. There are more<br />
number of high-end apartments in Gurgaon than in any<br />
other area of <strong>NCR</strong>. Major builders in the area include<br />
DLF, Unitech, Ansals, MGF, Parsvnath, Vipul, Vatika,<br />
Ambience, Sun City & Omaxe to name a few. Maruti &<br />
Hero Honda were amongst the initial corporate houses<br />
to have entered this area. Gurgaon is home to small<br />
textile and auto ancillary companies as well. Gurgaon<br />
is an end user market and all the new projects coming<br />
up are premium and life style projects.<br />
Growth Stimulators<br />
• It is home to offices of several MNCs.<br />
• Gurgaon has emerged as the hub of IT & other new<br />
age businesses.<br />
• It is estimated that IT will spread over 6 million sq.ft.<br />
in Gurgaon by Dec 2009, which will in turn create<br />
over 50,000 new jobs, thus giving a further push to<br />
the residential real estate.<br />
• This is primarily because of its proximity to the<br />
international & domestic airport & also to <strong>Delhi</strong>.<br />
• Almost 56 SEZs are already approved in Haryana.<br />
(including DLF & Reliance)<br />
• The area along NH8 is booming – Manesar, Daruhera,<br />
Bhiwadi, Riwadi.<br />
• Gurgaon enjoys all the facilities available in <strong>Delhi</strong>.<br />
• It is well-linked by rail & road to <strong>Delhi</strong>, Faridabad &<br />
Jaipur.<br />
• KMP Expressway (Kundli-Manesar-Palwal) is coming<br />
up soon.<br />
<strong>ICICI</strong> Property Services 18
Residential Market in Gurgaon<br />
Average Apartment Size of 800 - 1200<br />
2 BHK in sq. ft.<br />
Distribution of 2 & 3/4 BHK in<br />
Gurgaon<br />
Average Apartment Size of 1400 - 2500<br />
3 BHK in sq. ft.<br />
Average Apartment Size of<br />
4 BHK in sq. ft.<br />
2500 & above<br />
Total Supply (in mn. sq. ft.) 47.41<br />
by Dec. 2009<br />
Total Supply (in no. of units) 25275<br />
by Dec. 2009<br />
Source: <strong>ICICI</strong> Property Services<br />
Note: The areas mentioned are built-up areas<br />
Source: <strong>ICICI</strong> Property Services<br />
Prime Residential Projects in Gurgaon<br />
Name of the Project Developer Capital Values for 2 BHK No. of Units Date of Completion<br />
as on Mar 2008 (in INR)<br />
Nirvana Fresco Unitech 50 - 60 lacs (2 BHK) 796 Dec 2008<br />
Palm Springs Emaar 1.5 Cr (3 BHK) 300 Dec 2008<br />
Park Place DLF 1.2 Cr (3 BHK) 988 Dec 2009<br />
Palm Drive Emaar 80 - 90 lacs (2 BHK) 500 Jun 2010<br />
Bellaire DLF 2.1 - 2.2 Cr (3 BHK) 380 Jun 2010<br />
Exotica Parsvnath 1.2 - 1.3 Cr (3 BHK) 350 Dec 2008<br />
Aralias DLF 4 - 4.5 Cr (5 BHK) 34 Jul 2008<br />
Magnolias DLF 4.5 - 5 Cr (4 BHK) 480 Jul 2010<br />
Source: <strong>ICICI</strong> Property Services<br />
*Rates mentioned are based on built-up area & are subject to amenities, upkeep & vary from apartment to<br />
apartment within the same building. Rates are subject to change at any given point of time.<br />
19 <strong>ICICI</strong> Property Services
Residential Property Rates in Prime Residential Markets of Gurgaon<br />
Location Average Rates (Rs./sq. ft.) Average Rentals for 3 BHK (Rs./month) Market Outlook<br />
MG Road 5000 - 5500 30000 - 50000 S<br />
Golf Course Road 6000 - 6500 35000 R<br />
Nirvana Country 3800 - 4000 25000 S<br />
Sohna Road 3200 - 3500 14000 -18000 R<br />
Manesar 2000 - 2400 5000 R<br />
Dharuhera 1500 - 1800 4000 R<br />
Upcoming areas 2400 - 2600 NA R<br />
(sectors108, 92,10)<br />
Source: <strong>ICICI</strong> Property Services<br />
*Rates mentioned are based on built-up area & are subject to amenities, upkeep & vary from apartment to apartment<br />
within the same building. Rates are subject to change at any given point of time.<br />
Property Price Movement (Q4 2004 - Q3 2007) - Gurgaon<br />
Source: <strong>ICICI</strong> HFC Mortgage Valuation<br />
Services<br />
Assumption: 100 as a base reference<br />
no. for Q4 2004)<br />
<strong>ICICI</strong> Property Services 20
Map not to scale.<br />
GURGAON MAP
SAFDARJUNG TOMB<br />
Safdarjung’s Tomb was built by Nawab Shuja-ud-Daulah, the son of<br />
Safdarjung. Safdarjung was the governor of Awadh and later became<br />
the Prime Minister of Muhammad Shah, the Mughal emperor. Built<br />
in 1753-1754, the Safdarjung Tomb lies at the Lodi Road, New <strong>Delhi</strong>.<br />
Safdarjung’s Tomb is set in the middle of a garden, which spreads<br />
over an area of 300 sq.m. The garden of Safdarjung’s Tomb is laid<br />
down on the pattern of the Mughal Charbagh style. The Safdarjung<br />
Tomb was erected roughly on the pattern of Humayun’s Tomb.<br />
20 <strong>ICICI</strong> Property Services
Faridabad Major Locations: Trans Canal, Old Faridabad, Sector 21C, 45, 42 (Omaxe Green Valley),<br />
Sector 33, Clam Wood<br />
Faridabad is an industrial town of Haryana with 300<br />
large and 10000 small scale industries. Faridabad for<br />
years had been lagging behind other satellite towns<br />
in terms of a good real estate destination. Recently<br />
this region has gained resurgent interest and is fast<br />
catching up as the next hot destination. A slew of<br />
residential and commercial projects by well known<br />
developers and government agencies like HUDA are<br />
on the anvil. Faridabad has a develop-able land mass in<br />
excess of 10,000 acres. Most of the developers have<br />
acquired large chunks of land banks in close proximity<br />
to Faridabad. The major developers in the area are<br />
Omaxe & Ansal.<br />
Growth Stimulators<br />
• KMP expressway a recent initiative of Haryana<br />
& U.P. govt. would act as a ring road to <strong>NCR</strong>. The<br />
expressway once completed would link areas of<br />
Kundli, Manesar, Palwal with Gurgaon, Faridabad,<br />
NOIDA & Ghaziabad. The improved connectivity<br />
of Faridabad would result in appreciation of the<br />
property prices.<br />
• Planned extension of <strong>Delhi</strong> Metro to South <strong>Delhi</strong><br />
is also expected to increase the marketability of<br />
Faridabad.<br />
• Completion of recently announced new bridge over<br />
the busy Badarpur crossing, is expected to reduce<br />
the traffic congestion on Mathura Road connecting<br />
Faridabad to South <strong>Delhi</strong>.<br />
• This would further reduce the transit time between<br />
<strong>Delhi</strong> & Faridabad & result in appreciation of property<br />
prices.<br />
• Great future connectivity to NOIDA, Greater NOIDA,<br />
South <strong>Delhi</strong> & Gurgaon. Gurgaon-Faridabad wide<br />
road is already in place. Flyover from NOIDA –<br />
Greater NOIDA expressway is proposed.<br />
• Expressway from Kalindi Kunj is slated to be<br />
completed before Commonwealth games 2010<br />
which will facilitate a smooth journey to Agra.<br />
• Metro is due before 2010 while many commercial &<br />
retail projects are slated to come up soon.<br />
• As many as over 15 developers have already<br />
moved in and major construction and infrastructure<br />
upgradation activities are going on.<br />
• Residential sectors are attracting investors as well<br />
as end-users working in & around <strong>Delhi</strong>.<br />
• HUDA (Haryana Urban Development Authority)<br />
has contributed to the resurgent interest in<br />
Faridabad by recently announcing group housing<br />
schemes through draw of lots, which has received<br />
overwhelming response.<br />
• Close to 1.85 million sq. ft. of IT space is estimated<br />
to come up in Faridabad by Dec 2009, which will<br />
create over 15000 jobs in this zone.<br />
<strong>ICICI</strong> Property Services 23
Residential Market in Faridabad<br />
Average Apartment Size of 900 - 1100<br />
2 BHK in sq. ft.<br />
Distribution of 2 & 3/4 BHK in<br />
Faridabad<br />
Average Apartment Size of 1300 - 1500<br />
3 BHK in sq. ft.<br />
Average Apartment Size of 1700 - 2900<br />
4 BHK in sq. ft.<br />
Total Supply (in mn. sq. ft.) 11.50<br />
by Dec. 2009<br />
Total Supply (in no. of units) 6500<br />
by Dec. 2009<br />
Source: <strong>ICICI</strong> Property Services<br />
Note: The areas mentioned are built-up areas<br />
Source: <strong>ICICI</strong> Property Services<br />
Prime Residential Projects in Faridabad<br />
Name of the Project Developer Capital Values for 2 BHK No. of Units Date of Completion<br />
as on Mar 2008 (in INR)<br />
Forest Omaxe 2.1 - 6 Cr (5 BHK) 540 Dec 2009<br />
Resort BPTP 35 - 45 lacs 1200 Dec 2010<br />
Source: <strong>ICICI</strong> Property Services<br />
*Rates mentioned are based on built-up area & are subject to amenities, upkeep & vary from apartment to<br />
apartment within the same building. Rates are subject to change at any given point of time.<br />
4<br />
<strong>ICICI</strong> Property Services
Residential Property Rates in Prime Residential Markets of Faridabad<br />
Location Average Rates (Rs./sq. ft.) Market Outlook<br />
Trans Canal (sector 78, 88, 89) 1700 - 1900 SS<br />
Sector 10,12,15 15000 - 2000/ sq. yard S<br />
Source: <strong>ICICI</strong> Property Services<br />
*Rates mentioned are based on built-up area & are subject to amenities, upkeep & vary from apartment to apartment<br />
within the same building. Rates are subject to change at any given point of time.<br />
Property Price Movement (Q4 2004 - Q3 2007) - Faridabad<br />
Source: <strong>ICICI</strong> HFC Mortgage<br />
Valuation Services<br />
Assumption: 100 as a base<br />
reference no. for Q4 2004)<br />
<strong>ICICI</strong> Property Services<br />
5
Map not to scale.<br />
FARIDABAD MAP
INDIA GATE<br />
India Gate is constructed<br />
as a memorial and was<br />
built in the memory of<br />
90,000 soldiers who laid<br />
down their lives during<br />
World War I. Located at<br />
Rajpath, India Gate is 42<br />
m high and is a popular<br />
relaxation area during the<br />
summer evenings. India<br />
Gate also acts as a popular<br />
pinic spot during winter.<br />
Also known as the All<br />
India War Memorial, India<br />
Gate was designed and<br />
constructed by Lutyens.<br />
He was the one who<br />
is considered the chief<br />
proclaimer in designing<br />
the New <strong>Delhi</strong> plans.<br />
24 <strong>ICICI</strong> Property Services
Ghaziabad Major Locations: Indirapuram, Vaishali, Kaushambi, Old Ghaziabad, NH 58, Vasundhra,<br />
Rajnagar<br />
Ghaziabad can be divided into 2 main areas viz. Trans<br />
Hindon Area (THA) & old Ghaziabad. THA comprises of<br />
newly developed areas of Ghaziabad like Indirapuram,<br />
Kaushambi, Ramprastha, Surya Nagar, Vaishali and<br />
Vasundhra. Old Ghaziabad comprises of Raj Nagar, Kavi<br />
Nagar, Patel Nagar, Shastri Nagar, Govindpuram and<br />
Navyug market. Because of comparatively higher rates<br />
and land scarcity in NOIDA and also close proximity<br />
to <strong>Delhi</strong> and NOIDA, both end users and investors are<br />
moving to Indirapuram and Ghaziabad. It has a healthy<br />
mix of investors and end users. Several high-rise<br />
apartments have changed the skyline of Ghaziabad.<br />
Major development is happening on NH-24 and NH-<br />
58.<br />
Growth Stimulators<br />
• Its proximity to <strong>Delhi</strong> is a major reason for high<br />
returns.<br />
• High property prices in <strong>Delhi</strong> & all other satellite<br />
towns vis-a-vis affordable residential units in<br />
Vaishali, Vasundhra, Indirapuram, Kaushambi &<br />
areas of Ghaziabad has or have resulted in greater<br />
demand for properties in these areas.<br />
• Kaushambi can boast of a huge mall presence in the<br />
pipeline.<br />
• Good infrastructure development in this area &<br />
developments for the Commonwealth Games is<br />
also aiding the appreciation of property prices in<br />
this area.<br />
• As part of the 2010 Commonwealth Games, GDA is<br />
planning to have two big five star hotel projects in<br />
the city.<br />
• The Jal Nigam is planning to increase the water<br />
supply to the city.<br />
• The area has developed into a manufacturing hub,<br />
with a large number of small manufacturing &<br />
processing industries operating out of the region.<br />
• It is the industrial hub of UP.<br />
• It was even featured in Newsweek International and<br />
was listed in the top 10 most dynamic cities of the<br />
world in the year 2006.<br />
• It is estimated that by the year 2010 metro trains<br />
will be operating on the border areas of the city of<br />
Ghaziabad.<br />
• The GDA has proposed to build fourteen new<br />
flyovers, grade separators, underpasses and clover<br />
passes at different points of the city.<br />
• Madhuban is a new development of Ghaziabad<br />
covering 1200 acres near Raj Nagar / Kavi Nagar.<br />
Each plot here will be park-facing along the lines of<br />
Golf Links / Jorbagh in New <strong>Delhi</strong>.<br />
• Bapudham is a huge colony near Madhuban targeted<br />
at the lower income group.<br />
<strong>ICICI</strong> Property Services<br />
8
Residential Market in Ghaziabad<br />
Average Apartment Size of 1100 - 1275<br />
2 BHK in sq. ft.<br />
Distribution of 2 & 3/4 BHK in<br />
Ghaziabad<br />
Average Apartment Size of 1300 - 1800<br />
3 BHK in sq. ft.<br />
Average Apartment Size of 1800 - 2100<br />
4 BHK in sq. ft.<br />
Total Supply (in mn. sq. ft.) 35.64<br />
by Dec. 2009<br />
Total Supply (in no. of units) 30502<br />
by Dec. 2009<br />
Source: <strong>ICICI</strong> Property Services<br />
Note: The areas mentioned are built-up areas<br />
Source: <strong>ICICI</strong> Property Services<br />
Integrated Cities - Public Private Partnership<br />
Project Name<br />
Area (in acres)<br />
Project Name<br />
Area (in acres)<br />
Crossing Republik 360<br />
Sushant City 127<br />
Saga City 72.9<br />
Jaipuria Sunrise Green 300<br />
Emaar MGF 255<br />
Land Craft Golf Link 91.6<br />
Orchid IREO Reality 200<br />
Amara Towne 200<br />
Aditya World City 185<br />
Source: <strong>ICICI</strong> Property Services<br />
*Rates mentioned are based on built-up area & are subject to amenities, upkeep & vary from apartment to<br />
apartment within the same building. Rates are subject to change at any given point of time.<br />
9<br />
<strong>ICICI</strong> Property Services
Prime Residential Projects in Ghaziabad<br />
Name of the Project Developer Capital Values for 2 BHK No. of Units Date of Completion<br />
as on Mar 2008<br />
Orange County Meriton Group 90 lacs - 1 Cr 3 (BHK) 1000 Dec 2008<br />
Tulips Ashiana 65 - 79 lacs 60 Jun 2009<br />
Green Vista Gaurs Sons 30 - 35 lacs 1400 Jun 2009<br />
Gulmuhor Green SVP 25 - 30 lacs 1208 Dec 2009<br />
Mosaic Mahagun 28 - 32 lacs 200 Mar 2009<br />
Mansion Mahagun 34 - 38 lacs 800 Ready to move<br />
Advantage ATS 30 - 33 lacs 800 Dec 2010<br />
Suncity Shipra 20 - 30 lacs 1000 Ready to move<br />
Vista Shipra 33 - 36 lacs 700 Dec 2008<br />
Source: <strong>ICICI</strong> Property Services<br />
*Rates mentioned are based on built-up area & are subject to amenities, upkeep & vary from apartment to apartment<br />
within the same building. Rates are subject to change at any given point of time.<br />
Property Price Movement<br />
(Q4 2004 - Q3 2007) - Ghaziabad<br />
Residential Property Rates in Prime<br />
Residential Markets of Ghaziabad<br />
Location Average Average Market<br />
Rates Rentals Outlook<br />
(Rs./sq. ft.) for 3 BHK<br />
(Rs./month)<br />
Indirapuram 2600 - 3200 8000 S<br />
Vaishali 2200 - 2800 6500 R<br />
Kaushambi 2000 - 2500 7000 S<br />
Source: <strong>ICICI</strong> HFC Mortgage Valuation Services<br />
Assumption: 100 as a base reference no. for Q4 2004)<br />
Source: <strong>ICICI</strong> Property Services<br />
*Rates mentioned are based on built-up area & are subject to<br />
amenities, upkeep & vary from apartment to apartment<br />
within the same building. Rates are subject to change at any<br />
given point of time.<br />
<strong>ICICI</strong> Property Services 30
GHAZIABAD MAP<br />
NH-58<br />
RAJ NAGAR<br />
DISTRICT CENTRE<br />
VASUNDHRA<br />
KAUSHAMBI<br />
VAISHALI<br />
INDIRAPURAM<br />
Map not to scale.
QUTAB MINAR<br />
Qutab Minar, the 239 ft. sandstone tower<br />
is an Indo-Islamic architectural wonder of<br />
ancient India. This magnificent tower of<br />
victory stands in the Qutab complex located<br />
at Aurabindo Marg, near Mehrauli. King<br />
Qutubuddin Aibak of Slave dynasty laid the<br />
foundation of the Qutab Minar in 1199 A.D.<br />
adjoining the Quwwat-ul-Islam mosque, to<br />
proclaim the victory of Islam, after the defeat<br />
of the last Hindu kingdom in <strong>Delhi</strong>.<br />
28 <strong>ICICI</strong> Property Services
North <strong>Delhi</strong> Major Locations: Mall Road, Kamla Nagar, Kingsway Camp, Model Town, Dera Wala Nagar,<br />
Gujranwala Town, Ashok Vihar, Shalimar Bagh, Pitampura, Rohini - Sec - 9 to 19, Civil Lines, Rajpur Road,<br />
Banarsi Dass Estate, Shakti Nagar, Roop Nagar, Outram Lines, Mukherji Nagar, Rana Pratap Bagh, Tagore<br />
Park<br />
North <strong>Delhi</strong> comprises Civil Lines, Rajpur Road,<br />
Pitampura, Rohini, Ashok Vihar and Model Town as the<br />
prime residential areas. All the major locations of the<br />
area except some pockets of Rohini have witnessed<br />
plotted development with self constructed low rise<br />
residential units. Civil Lines, Rajpur Road and Mall<br />
Road are posh localities of North <strong>Delhi</strong> with presence<br />
of Governor Residence and Old Secretariat in this area.<br />
The plots in these localities are very big in size, thus<br />
have a very high ticket size for resale transactions.<br />
Paucity of demand for large properties has resulted<br />
in lower sales transactions and lower rate of property<br />
price appreciation in the area. The recent trend in<br />
the area is towards splitting of the bigger plots into<br />
smaller plots. Primarily self constructed bungalows<br />
are coming up in these areas. The areas of Civil Lines,<br />
Rajpur Road, Mall Road etc. have a lower annualized<br />
increment in Land rates i.e. upto 25%.<br />
Growth Stimulators<br />
• The area has close proximity to Inter State Bus<br />
Terminus and central business districts of Chandni<br />
Chowk, Chawri Bazaar, Kamla Nagar and Darya<br />
Ganj.<br />
• The area also has close proximity to <strong>Delhi</strong> University,<br />
North Campus.<br />
• Close to Model Town is <strong>Delhi</strong> University, one of the<br />
major universities of India.<br />
• From Model Town, you can easily get to the GT<br />
Karnal Road and get linked with other states of<br />
India.<br />
• Being a residential area, the region has all the<br />
facilities, including accommodation, tourist places<br />
and restaurants which makes Model town one of<br />
the best places to live in.<br />
Property Price Movement<br />
(Q4 2004 - Q3 2007) - North <strong>Delhi</strong><br />
Source: <strong>ICICI</strong> HFC Mortgage Valuation Services<br />
Assumption: 100 as a base reference no. for Q4 2004<br />
<strong>ICICI</strong> Property Services 33
South <strong>Delhi</strong> Major Locations: Defence Colony, South Ex. Part-I, South Ex. Part-II, East of Kailash, C. R.<br />
Park, Green Park, Hauz Khas, Safdarjung Development Area, Safdarjung Enclave, Saket, Shivalik Enclave,<br />
Swami Nagar, Panchsheel Park, Panchsheel Encalve, Golf Link, Jor Bagh, New Friends Colony, Friends<br />
Colony, Maharani Bagh, Jungpura, Lajpat Nagar, Kalkaji, Greater Kailash-I, Greater Kailash-II, Greater Kailash<br />
Enclave, Vasant Vihar, Anand Niketan, Shanti Niketan, West End, Sarvodaya Enclave.<br />
South <strong>Delhi</strong> has the most premium properties in <strong>Delhi</strong><br />
and boasts of location such as Vasant Vihar, Golf<br />
Links, Chanakyapuri, GK I & II, Jorbagh, Safdarjung,<br />
Lajpat Nagar and Mehrauli. These are important<br />
parts of <strong>Delhi</strong>, as they hold both commercial and<br />
residential value. Major government offices as well<br />
as consulates are located in this area. It houses<br />
some of the best stores, hotels, infrastructures,<br />
tourist attractions, markets, historical monuments,<br />
restaurants and nightspots. Some of the famous<br />
monuments that you can find in this region are Qutab<br />
Minar, Purana Qila and Humayun Tomb. Lajpat Nagar<br />
falls amidst the two popular regions of South <strong>Delhi</strong><br />
- Greater Kailash and South Ex. Apart from shops, the<br />
region is a well-known residential area. There are no<br />
high rise apartments due to government restrictions.<br />
The residential units are bungalows, independent<br />
floors, or DDA (<strong>Delhi</strong> Development Authority) flats. It<br />
is a mature market dominated by resale transactions.<br />
This is mainly an end user market, hence although the<br />
transaction volumes are low, the value is high.<br />
Growth Stimulators<br />
• The region is considered as one of the posh locales<br />
of <strong>Delhi</strong>.<br />
• It is the dream of one and all to own a house in this<br />
area as it may amount to crores of rupees.<br />
• Situated on Ring Road, South Extension is divided into<br />
two parts - South Extension I and South Extension II.<br />
• This is one of the most posh market places promising<br />
international shopping experiences.<br />
• Scarcity of flats, good connectivity with rest of <strong>Delhi</strong><br />
& <strong>NCR</strong>, presence of art & cultural centres, schools,<br />
presence of CBD (Central Business District) are few<br />
of the factors driving the market.<br />
Property Price Movement<br />
(Q4 2004 - Q3 2007) - South <strong>Delhi</strong><br />
Source: <strong>ICICI</strong> HFC Mortgage Valuation Services<br />
Assumption: 100 as a base reference no. for Q4 2004<br />
34 <strong>ICICI</strong> Property Services
East <strong>Delhi</strong> Major Locations: Preet Vihar, Nirman Vihar, Pushpanjali Enclave, Saini Enclave, Dayanand<br />
Vihar, Anand Vihar, Ram Vihar, Surajmal Vihar, Vigyan Vihar, Jhilmil Colony, Vivek Vihar, Yamuna Vihar,<br />
AGCL Encalve, Jagrati Enclave, Mayur Vihar<br />
East <strong>Delhi</strong> area comprises of Trans Yamuna locations<br />
of <strong>Delhi</strong> located near UP Border. East <strong>Delhi</strong> has good<br />
connectivity to suburbs like NOIDA & Ghaziabad. There<br />
is a healthy mix of societies, DDA flats and bungalows.<br />
The area is predominantly inhabited by middle income<br />
working class, which suffered on account of poor<br />
connectivity with the city centre. However, the area has<br />
witnessed considerable appreciation in property prices<br />
from Jan 2005. Preet Vihar Zone, Mayur Vihar Zone,<br />
Patparganj Zone are the key areas of East <strong>Delhi</strong>. Preet<br />
Vihar zone comprises primarily residential plots with two<br />
storied self construction row houses. Mayur Vihar is a<br />
popular residential colony of East <strong>Delhi</strong>. DDA developed<br />
Mayur Vihar as a residential area and divided the area<br />
into three phases. Flats are developed under Group<br />
Housing Societies (GHS). Slowly and steadily, Patparganj<br />
is developing into a commercial and residential area.<br />
DDA is playing a major role in making this place grow.<br />
DDA has developed many Group Housing Societies<br />
(GHS).<br />
Growth Stimulators<br />
• Preet Vihar Zone has witnessed a large scale<br />
development of shops and educational institutes.<br />
• Crowded with a number of small and big shops, this<br />
place is considered as one of the best commercial<br />
hubs in <strong>Delhi</strong>.<br />
• Situated in the Trans-Yamuna area of the main city of<br />
<strong>Delhi</strong>, Mayur Vihar forms one of the better residential<br />
areas of East <strong>Delhi</strong> and serves as an important<br />
upmarket area that further enjoys a strategic location<br />
adjacent to NOIDA.<br />
• It is also fast emerging as one of the major commercial<br />
hubs of East <strong>Delhi</strong>.<br />
• Mushrooming mall culture and upcoming real estate<br />
activities are giving a push to the land rates here.<br />
• Commonwealth Games will take place in East <strong>Delhi</strong>.<br />
• Since it lies close to NOIDA, Nizamuddin Bridge and<br />
South <strong>Delhi</strong>, the area is well connected.<br />
• Patparganj is one of the affordable locations in<br />
<strong>Delhi</strong>.<br />
• The area is well linked with other places in <strong>Delhi</strong> like<br />
CP, Nehru Place, ISBT, old and new railway stations.<br />
Property Price Movement<br />
(Q4 2004 - Q3 2007) - East <strong>Delhi</strong><br />
Source: <strong>ICICI</strong> HFC Mortgage Valuation Services<br />
Assumption: 100 as a base reference no. for Q4 2004<br />
<strong>ICICI</strong> Property Services 35
West <strong>Delhi</strong> Major Locations: Rohini, Paschim Vihar, Saraswati Vihar, Kohat Enclave, Paschim Vihar<br />
Extn., Punjabi Bagh East, Punjabi Bagh West, Meera Bagh, RBI Enclave, Bhera Enclave, Guru Har Kishan<br />
Nagar, Vikaspuri, Tagore Garden, Shivaji Enclave, Rajouri Garden, Hari Nagar, Janakpuri, Kirti Nagar,<br />
Ramesh Nagar<br />
<strong>Delhi</strong> is divided into nine districts, and West <strong>Delhi</strong><br />
indeed forms an indispensable part of <strong>Delhi</strong>. West <strong>Delhi</strong><br />
includes regions like Janakpuri, Punjabi Bagh, Rohini.<br />
These areas are typically characterised by bungalows<br />
and DDA flats. Both mid and high range properties<br />
are available here. With high rise apartments and<br />
planned townships, the city is witnessing a new trend<br />
in lifestyle living. Besides apartments, the concept of<br />
integrated township is also ushering in Dwarka with<br />
many prominent players busy developing exclusive<br />
projects here. The rate of residential property in Dwarka<br />
has doubled within two years. The entire west <strong>Delhi</strong><br />
has shown a uniform increment in rates. However, the<br />
areas up to 35% increase are those which were already<br />
developed like Rajouri garden, Janakpuri and Vikas Puri.<br />
Being the oldest, Janakpuri is divided into four major<br />
blocks namely A, B, C, D and then further subdivided<br />
into sub blocks. All the blocks in Janak Puri houses at<br />
least one local market. C-4 E is one of the most visited<br />
market of all times. Rajouri Garden area of West <strong>Delhi</strong><br />
is witnessing large scale construction of Shopping<br />
Malls. With crack down of MCD on unauthorised shops<br />
running out of residential properties, which has been<br />
most prevalent in West <strong>Delhi</strong>, the demand for authorised<br />
commercial space has risen, driving the rental and<br />
capital values in such properties.<br />
Growth Stimulators<br />
• West <strong>Delhi</strong> encompasses many renowned schools,<br />
hospitals, cinema halls.<br />
• The area is a good commercial as well as residential<br />
hub.<br />
• The upcoming areas like Paschim Vihar, Saraswati<br />
Vihar and Punjabi Bagh have shown a good rise in<br />
property rates due to construction of flyovers around<br />
and thus, reduction of traffic on the roads.<br />
• The infrastructure has also become better in the last<br />
year in West <strong>Delhi</strong>, making it easy for commuting.<br />
• Janakpuri is considered one of the best residential<br />
colonies of West <strong>Delhi</strong>.<br />
• Punjabi Bagh is one of the popular residential areas<br />
of West <strong>Delhi</strong>.<br />
• The region is well located and has connectivity with<br />
both rail and road.<br />
• Metro has emerged as a matter of major convenience<br />
for the residents in Dwarka. With the Metro having<br />
started, it has become easier to get to any part of<br />
<strong>Delhi</strong>.<br />
Property Price Movement<br />
(Q4 2004 - Q3 2007) - West <strong>Delhi</strong><br />
Source: <strong>ICICI</strong> HFC Mortgage Valuation Services<br />
Assumption: 100 as a base reference no. for Q4 2004<br />
6<br />
<strong>ICICI</strong> Property Services
Prime Residential Projects in <strong>Delhi</strong><br />
Name of the Project Developer Capital Values for 2 BHK No. of Units Date of Completion<br />
as on Mar 2008 (in INR)<br />
Queen’s Court DLF 8 Cr (4 BHK) 19 Dec 2010<br />
King’s Court DLF 10 Cr (4 BHK) 40 Dec 2010<br />
Victoria Garden M2K 1.25 Cr (2 BHK) 262 Dec 2009<br />
Source: <strong>ICICI</strong> Property Services<br />
*Rates mentioned are based on built-up area & are subject to amenities, upkeep & vary from apartment to<br />
apartment within the same building. Rates are subject to change at any given point of time.<br />
Distribution of 2 & 3/4 BHK in <strong>Delhi</strong><br />
Residential Property Rates in Prime<br />
Residential Markets of <strong>Delhi</strong><br />
Location Average Rates Market<br />
(Rs./sq. ft.) Outlook<br />
North <strong>Delhi</strong> 90000 - 110000 R<br />
South <strong>Delhi</strong> 180000 - 400000 R<br />
East <strong>Delhi</strong> 100000 R<br />
West <strong>Delhi</strong> 90000 - 105000 R<br />
Source: <strong>ICICI</strong> Property Services<br />
Source: <strong>ICICI</strong> Property Services<br />
*Rates mentioned are based on built-up area & are subject to<br />
amenities, upkeep & vary from apartment to apartment within<br />
the same building. Rates are subject to change at any given<br />
point of time.<br />
<strong>ICICI</strong> Property Services<br />
7
Location Attractiveness Index<br />
Infrastructure Residential Proximity to/ Proximity to/ Employment Future<br />
(connectivity, cost Presence of Commercial Generation Infrastructure<br />
roads, proximity to Organised Development<br />
markets, schools) Retail (offices)<br />
(malls/ popular<br />
highstreets)<br />
NOIDA Good Average Good Good Good Good<br />
Expressway<br />
Gurgaon Golf Good Average Good Good Good Good<br />
Course Road<br />
NOIDA Good Low Average Good Good Good<br />
Sector 112 to 119<br />
Gurgaon NH 8 Good Average Good Average Good Good<br />
Gurgaon Average Average Average Average Good Good<br />
- Sohna Road<br />
Source: <strong>ICICI</strong> Property Services<br />
*Rates mentioned are based on built-up area & are subject to amenities, upkeep & vary from apartment to apartment<br />
within the same building. Rates are subject to change at any given point of time.<br />
Recommended Locations<br />
Growth Corridor<br />
NOIDA Expressway<br />
Gurgaon Golf Course Road<br />
NOIDA Sector 112 to 119<br />
Gurgaon NH 8<br />
Gurgaon-Sohna Road<br />
8 <strong>ICICI</strong> Property Services<br />
NOIDA Expressway<br />
SEZ<br />
IT Parks<br />
Malls<br />
1200 acre township<br />
-Jaypee<br />
350 acre township<br />
-Unitech<br />
5 five star hotels are<br />
proposed<br />
NH8<br />
Expressway<br />
Reliance SEZ<br />
IT Parks<br />
Malls<br />
Several townships proposed<br />
NH8 - As per the new master<br />
plan a huge belt along the NH8<br />
been demarcated for<br />
residential & commercial<br />
development
Map not to scale.<br />
DELHI MAP
For further enquiries, please mail us at:<br />
propertyservices@icicihfc.com<br />
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considerations, a public issue of its equity shares and to file a Draft Red Herring Prospectus with SEBI.”<br />
This report has been prepared by <strong>ICICI</strong> Property Services.<br />
No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by<br />
any means, electronic, mechanical, photocopying, recording or otherwise, without prior permission of the<br />
publisher, <strong>ICICI</strong> Property Services.<br />
The facts of these profiles are believed to be correct at the time of publication but cannot be guaranteed. Please<br />
note that the findings, conclusions and recommendations are based on information gathered in good faith from<br />
both primary and secondary sources, whose accuracy we are not always in a position to guarantee.<br />
<strong>ICICI</strong> property services cannot accept any liability whatsoever for actions taken based on any information that<br />
may subsequently prove to be incorrect.<br />
36 <strong>ICICI</strong> Property Services