Chinese delegation leases 2 lakh sq ft in Omaxe Connaught Place

[Safal Suri (gmail.com)]

 

Source: http://realty.economictimes.indiatimes.com/news/commercial/chinese-delegation-leases-2-lakh-sq-ft-in-omaxe-connaught-place/47300779

 

 

Chinese delegation leases 2 lakh sq ft in Omaxe Connaught Place

 

Omaxe will develop the leased area as “Dragon Mart” for Chinese companies that will open and run retail outlets, offices, representative offices.16 May 2015, 4:04 PM IST

 

ETRealty Bureau

 

NEW DELHI: Giant Centre, a grouping of 50 Chinese investment and manufacturing companies, has leased 200,000 sq ft of space in Omaxe Connaught Place, Greater Noida to open retail outlets and offices.

 

Omaxe will develop the leased area as "Dragon Mart" for Chinese companies that will open and run retail outlets, offices, representative offices, exhibition centres and other such facilities, the company said in a release. Dragon Mart will be a hub of Chinese manufacturers and retailers exploring and selling their products on both B2B and B2C platform and will also open avenues for India manufacturers and suppliers to access their products and services.

 

"Prime Minister Narendra Modi's 'Make in India' initiative has generated huge excitement amongst foreign companies willing to tap the high-potential Indian market," said Mohit Goel, chief executive officer, Omaxe Limited. Giant Centre is a part of Floret International Ventures Ltd. Floret is a leading international Trade Consultant and service provider company in the specialised market of China and India.

 

Other major occupiers in the 1.9 million sq ft Omaxe Connaught Place, Greater Noida are Kwality Group, which has signed up for 25,000 sq ft to operate food court; INOX, which has signed up to operate 5 screen multiplex, Easyday to operate hypermarket. Other vanilla brands include Madura, Arvind and SSIPL.

 

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[Safal Suri]

 

 

Dear All,

 

Just wanted add few important inputs...

As you may already know... two important shopping malls... “Grand Venice” by Bhasin Group, in Sector Site-IV and “Connaught Place” by Omaxe group, in Sector Beta II... are stated to become operational in the next few months. Once both the malls are operational (by second half of this year)... both, long-term investors and end users, are bound to take Greater Noida city with increasing seriousness.

 

Couple these developments with expected start of operations of “Greater Noida Metro” by second half of 2017... there is no doubt, both, businesses (industrial & commercial) and home seekers will start shifting to Greater Noida in increasing numbers.

 

Please don’t get it wrong.... I’m NOT saying at 100% buyers in NCR and nearby areas... will move to Greater Noida. All I’m saying is that... given current property prices in Greater Noida... increasing high quality infrastructure... and close proximity to Delhi... especially when compared to other parts of NCR... a significantly large number of people, will increasing and seriously start considering to move their residence to Greater Noida.

 

It is also important to take into account... in not so far future... the availability of land is going to get increasingly difficult... and therefore, the existing land... for individual houses, industries and commercial activities... is bound to fetch higher premiums. But, not so much for group housing... already 1.5 lakh flats are under construction in Noida Extension... and after the recent supreme court judgement... authority will soon allot enough land to builders for constructing 3 lakh more flats.

 

Being a real-estate professional and keen observer of “Noida-Greater Noida-Yamuna Expressway” belt... I’m more than confident... in fact, I’m 100% certain... not withstanding current slowdown in reality sector (in most parts of the country)... the stretch/belt adjoining upcoming metro line and upcoming posh sectors in Noida and Greater Noida... will witness increasingly higher end-user settlement and above average growth in property prices in next couple of years.

 

Similar to stock market... when it comes to real-estate sector... the guru mantra is... “Buy Cheap, Sell Expensive”.

 

Well, now is the best time to buy. There is no doubt that we have touched the bottom. I’m confident that come September-October... there will be clear indications of moderate improvement in prices... in increasing number of pockets/colonies/sectors in National Capital Region. That said... I’m certain... by September-October this year... given that the construction of Greater Noida Metro will be in full swing... the property prices in and around the metro line and in select sectors in Noida and Greater Noida... will cease to fall and start appreciating.

 

My honest suggestion to fence-sitters, waiting for the prices to fall further so that they can buy at cheapest possible price... please seriously start looking for appropriate long-term investments. No doubt, we at the bottom of the last real-estate cycle (have been for quite some time). Desperate deals have now almost dried up. And there are now clear indicators, that the prices will start moving northwards (@ different pace in different locations).

 

My two cents... Good Luck!

 

Regards,

 

Safal Suri

 

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