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M3M Outbids DLF for Rs 1,850 Crore Noida Sector 108 Land Parcel
Confirmed
In Short: Real estate developer M3M has outbid DLF for a 12.5-acre land parcel in Noida’s Sector 108, quoting around Rs 1,850 crore.
The bid has put the spotlight on Sector 108, one of the areas along the Noida-Greater Noida Expressway where developers are looking for space as older parts of Noida become saturated.
According to an official of the Noida Authority, older sectors in the northern part of the city, including Sectors 19, 27, 28, and 30, have become saturated, leaving limited scope for new development.
Sectors along the Expressway are emerging as attractive locations for mixed-use projects, with property rates in some areas reaching up to Rs 9 crore.
The Noida Expressway is changing the dynamics of real estate in Noida and the country, with many big real estate brands and branded residences coming up in the last year.
Sector 108, in particular, is surrounded by premium residential projects, commercial developments, institutional areas, and green spaces, making it an ideal location for a mixed-use project with a maximum of 40% residential and 60% commercial use.
The sector’s proximity to key locations, such as a 14-minute drive from the Delhi Noida Direct (DND) flyway and a 50-minute drive to the Noida International Airport, adds to its appeal.
The opening of Noida International Airport in Jewar has further enhanced the sector’s attractiveness.
Anirban Basu, ABC chief economist, noted that the sector has been propelling nonresidential construction activity for most of the year.
What this adds
The bid for Sector 108 highlights the growing demand for mixed-use developments in prime locations along the Noida Expressway.
What's confirmed
- The bid has put the spotlight on Sector 108, one of the areas along the Noida-Greater Noida Expressway where developers are looking for space as older parts of Noida become saturated.
- According to an official of the Noida Authority, older sectors in the northern part of the city, including Sectors 19, 27, 28, and 30, have become saturated, leaving limited scope for new development.
- Sectors along the Expressway are emerging as attractive locations for mixed-use projects, with property rates in some areas reaching up to Rs 9 crore.
- The Noida Expressway is changing the dynamics of real estate in Noida and the country, with many big real estate brands and branded residences coming up in the last year.
- Sector 108, in particular, is surrounded by premium residential projects, commercial developments, institutional areas, and green spaces, making it an ideal location for a mixed-use project with a maximum of 40% residential and 60% commercial use.
- The sector’s proximity to key locations, such as a 14-minute drive from the Delhi Noida Direct (DND) flyway and a 50-minute drive to the Noida International Airport, adds to its appeal.
- The opening of Noida International Airport in Jewar has further enhanced the sector’s attractiveness.
- Anirban Basu, ABC chief economist, noted that the sector has been propelling nonresidential construction activity for most of the year.
What's still developing
- “The sectors between Sector 44 and the Expressway have several premium residential projects where property rates go up to Rs 9 crore… This generates a huge demand from high-end customers for commercial establishments to be set up in this area. There are also institutions such as Amity University located in Sector 125, also schools such as Lotus Valley,” the official said.
- “This proportion is lucrative for builders, since there are many Grade A commercial spaces built for IT and IT-enabled services such as Advant Navis Business Park and SkymarkOne in Sector 98… Employees working here might look for residences nearby, of which Sector 108 could also be a choice. Here, there is a dedicated recreational green space and parks and playgrounds,” the official said.
- “For people travelling from Noida to the airport, the Expressway is currently the main road route. The airport’s freight operations could also generate demand for logistics parks and related commercial activity along the corridor,” the official said.
- “There is a metro line from Botanical Garden which goes till Sector 137… There are also proposals from the Noida Metro Rail Corporation (NMRC) to set up a line to boost connectivity from this sector,” the officer said.
- For instance, in Sector 105, adjacent to Sector 108, the price of land in 2016 was around Rs 1,50,000 per sqm but now it is Rs 3,70,000, he said.
- “So now we are seeing a bouquet of luxury and branded residences like Estate 128 by Max Estates just across Sector 108. This bid has also given tough competition to old and local real estate developers to perform in a market with brands like Godrej, Tata, Birla and now M3M. We’re even getting queries from builders from Hyderabad,” he said.
- Last week, real-estate developer M3M outbid Gurgaon giant DLF for a 12.5-acre land parcel in Noida’s Sector 108, quoting around Rs 1,850 crore — more than twice the Noida Authority’s reserve price of Rs 835 crore.
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