Will the F1 event spark off muchneeded activity in the G Noida market, asks Vandana Ramnani
The much-awaited Grand Prix moment has finally arrived. Lean, mean Formula One beasts are ready to race on Greater Noida’s speed tracks, just a few kilometers away from Capital city Delhi. Much of the infrastructure coming up around the Buddh International circuit promises to be impressive: from the plush homes dotting the lush green landscapes with their golf courses, to lakes and cricket stadiums.
The news from this part of the world has been somewhat good and bad — the land acquisition issue has not exactly helped, but the F1 event has focused international attention on the area.
As all things go then, does it makes sense to invest in Greater Noida? Yes, if you’re willing to stay invested for five to seven years and are happy with a 20% year-onyear return, if not more, once the event becomes a regular annual affair.
And that’s not all – creating a regular buzz through corporate events, training academies, automobile related training classes and world conferences will definitely help. The success formula lies in turning Greater Noida into both a national and international events destination, point out real estate experts.
“The immediate impact of the F1 event will be sentimental rather than real. It will have an immediate feelgood impact and put Noida on the global map, dispelling all negative biases and perceptions about the area. It will give a boost to real estate sentiments, too,” says Anckur Srivasttava of GenReal Advisers.
“Both the F1 event and the soon-to-be operational Yamuna Expressway will bring positive gains to Greater Noida. The F1 track is unique since it is not located far from the main city and is part of a massive integrated complex. It is sure to put the area on the global map,” says Vibhor Gupta, DGM, marketing, Jaypee Greens.
The F1 is a great anchor for developers as returns will not come from the event but out of the real