Noida eway set to emerge as a hub of luxury housing
With increase in employment opportunities the demand for housing in Noida has risen and developers busy constructing luxurious apartments. Vinod Rajput reports.noida Updated: Oct 20, 2013 22:06 IST
With 18 five star hotels, six mega IT parks and various luxury serviced apartments set to be ready in next five years, Noida expressway is set to emerge as a hub of luxury living.
“Mentor Graphics a USA based electronic automation design company with an investment of R100 crore is building a chip designing production house in Sector 142. National association of software and services companies (NASSCOM) is also building its North India headquarter on a 10,000 square meters land in Sector 127,” said Manoj Kumar Rai officer on special duty (OSD), Noida authority.
Noida houses 600 IT units mostly along the expressway in Sectors 125, 126 and 127 among others. About 1.5 lakh IT professionals are working in various IT, BPOs, and MNCs operating from here, and if all goes well, the working population is set to double in the next five years.
“Because of the employment generation, demand for luxurious housing has increased manifold. More developers want to cater to this segment and are constructing serviced and multi-purpose luxurious apartments,” said Rai.
Renision Courtyard, Sheraton, Four Seasons, Westin Resort, The Lalit Grand, Grand Hyatt, Hilton, and Marriot among others are lined-up around Noida expressway that connects Delhi with Agra via 165 kilometers long Yamuna expressway. Developers are cashing in on the opportunity and offering luxury along the high-speed link.
“With an investment of Rs. 1000 crore we are building Mist Avenue IT Park in Sector 143 to cater to the international IT players. We are offering Mist Bungalows starting from Rs. 10 crore,” said SS Bhaseen managing director of Bhaseen Group.
To encourage hoteliers, realtors and IT players the Noida authority is planning to ensure smooth ride on the expressway by implementing intelligent traffic management with a budget of Rs. 43 crore.
“IT professionals need multi-purpose serviced studio apartments, therefore eying the demand we are planning to launch a new project that would only cater to them,” said Amit Mavi promoter of BPO Group.
* Hotels coming to Noida
Renision Courtyard -- Sector 15
Sheraton -- Sector 16
Four Seasons – Sector 16B
Westin Resort -- Sector 153
The Lalit Grand -- Sector 96
Grand Hyatt -- Sector 94
Hilton -- Sector 32
Marriot -- Sector 124