Project Watch: Amrapali Dream Valley at Techzone 4

Amrapali Dream Valley is located in the midst of rapidly emerging IT-hub at the Techzone 4 in Greater Noida. Techzone 4 is growing to be a residential hub as much as a commercial hub. In this growing hub, Amrapali Group is developing it's a high-rise residential project, Amrapali Dream Valley.

The project
Spread across 80 acres, Amrapali Dream Valley, will have 5,000 apartments to offer. This number will be a mix of 1, 2 and 3BHK apartments with a size ranging from 585 sq ft to 1,715 sq ft, which can be bought directly from the builder as well as from resale. The expected possession date of the apartments will be in July 2016.
Boasting of a world-class ambience, the grandeur of the project starts from its huge main entrance making it a gated community, which will be home to 5,000 families. With aesthetically designed homes that cater to the urban lifestyle of young working professionals, the project has common usage amenities including a club house, gym, jogging track, and a swimming pool.

What's more
What sets Amrapali Dream Valley apart are the added features it offers. These features make this residential property a town in itself. The features include:

• Sports facilities equipped with a tennis and a basketball court
• For kids: kids' pool, theme parks and crèche day care facility
• Entertainment area has a leisure, meditation, and a relaxation zone and an amphitheatre.
• For healthcare the property has a health center and a nursing home
• For daily needs, there are retail stores offering grocery and other needs
• For transport there is an auto and a taxi stand
• For leisure there are restaurants

The builder
The Amrapali Group is a ten year old company started by Anil Kumar Sharma. The group has delivered 25 construction projects, both residential and commercial, till date. It is currently developing 50 projects in areas of Noida, Greater Noida, Indirapuram and East Delhi.

The Locality
Techzone 4, home to IT companies including TCS, LG, and Daewoo, is close to other popular commercial and residential areas like Noida Extension, Sector 1, 2, and 16. It has 5.7 per cent more demand than other areas in Noida. There are around 27 under construction projects in Techzone 4 and more are expected, indicating that it is a developing residential area too.
Here are the advantages of Techzone 4:

• Connected to Delhi and Noida via Noida-Greater Noida Expressway
• Close to the proposed Faridabad-Noida-Ghaziabad Expressway
• Has Gautam Buddha University nearby
• Well-planned physical and social infrastructure under development

Infrastructure and future prospects
Techzone 4 is currently in the infrastructural development stage. However, the future prospects are good, as more companies are expected to set up their offices. A number of reputed educational institutions too are looking at this area for their campuses. The current livability index of the area, however, is low with two bus stops and only one restaurant. But, the area will be developed by the possession dates of most of the projects near, which will take more than a year.

Price comparison
The Dream Valley project is a mix of 1, 2, and 3BHK apartments. While there is only one variant of 1BHK apartment with a terrace (585 sq ft), which is priced at Rs 22.8 lakh, this project has three variants of 2BHK apartment with two terrace, sized 850 sq ft, 900 sq ft and 1,115 sq ft, which cost Rs 33.1 lakh, Rs 35 lakh, and Rs 43.4 lakh, respectively. And, two variants of 3BHK with three terrace apartments, sized 1,369 sq ft and 1,1715 sq ft, priced at Rs 52.9 lakh and Rs 66.7 lakh, respectively.
The project charges around Rs 3,982 per sq ft, which is around Rs 650 higher than the current average price of the area at Rs 3,200. The trends of price appreciation in the area too have been very marginal in the last few years. However, with more social infrastructure coming up, it might increase along with all of Greater Noida.

PropTiger.com's Verdict

Overall recommendations
For long-term investors, Amrapali Dream Valley is a good investments for both residence as well as investment purposes. PropTiger.com has prepared a detailed report on Amrapali Dream Valley called Prop Insight, which is available on its website. To access the report, login to PropTiger.com.

(Katya Naidu has been working as a business journalist for the last nine years, and has covered beats across banking, pharma, healthcare, telecom, technology, power, infrastructure, shipping and commodities)