Tag Archives: Best project of Greater Noida West

Hawelia Valenova Park flagship of Noida Extension?

Posted on by Track2Realty
Track2Realty Exclusive

The developer aspired to create its flagship project and in the process today stands out as the promise to deliver the flagship of a market otherwise gone directionless with affordable housing. Track2Realty finds Hawelia Valenova Park as a model for showcasing honest affordable luxury in the market where every other developer is claiming his low-priced project to be luxurious. The project nevertheless stands out and deserves to be rated Grade A.

Hawelia Valenova Park, Hawelia Valencia Homes, Hawelia Group, Nikhil Hawelia, Greater Noida West project, Noida Extension property, Best project of Noida Extension, Invest in Noida Extension, Investment in Greater Noida West, India real estate news, Indian realty news, Real estate news India, Indian property market news, Track2RealtyProject: Hawelia Valenova Park

Developer: Hawelia Group

Location: Greater Noida West (Noida Extension)

Area: 04 acres (Approx)

Saleable Units: 540 apartments

Track2Realty Rating: Grade A

A flagship project is the dream of ever developer and the developers traditionally have been identified with their flagship projects. That is precisely the reason why the developers can’t resist the temptation to go for luxury and ultra-luxury launches to be counted; often beyond their financial bandwidth and/or execution capability.

Can affordable housing be the flagship of a developer? Well, it could only be when the developer is not only conscious with the market realities but also understands what is responsible housing. Hawelia Valenova Park stands out as one such project where the developer has indeed been in sync with today’s market realities, profile of the location, and wants & needs of the buyers to create a signature of affordable luxury.

As I drive from Noida City Center to Greater Noida West, or in popular parlance known as Noida Extension, I take the right turn from the entry point of Kisaan Chowk.In less than two kilometres I take left turn and take further left turn a few meters down. These two left turns lands me to the ‘Right Destination’ – I come to Hawelia Valenova Park.

Hawelia Valneova Park a market differentiator

Hawelia Valenova Park stands out as the case study of affordable luxury

This project is shaping up as the flagship of affordable destination of Greater Noida West

The project defines how amenities are add-ons of apartment specifications and not vice versa 

Right property in the right market at the right price point has been oft-repeated marketing mantra in the real estate. Unfortunately, it is still unanswered as to what is right property in the right market and at the right price point. Hawelia Group, probably conscious of the market realities in this part of the world tried to create their flagship in a market where most of the developers failed to differentiate between affordable housing, EWS housing and BPL housing. And I am not even counting some over ambitious self-inflicted injuries that tried to sell super luxury in this affordable market.

With thorough market research the project was actually conceptualised as ‘affordable luxury’. Howsoever debatable the concept of affordable luxury might be, the fact lies that today’s budget conscious home buyer is pretty aspirational. The majority of the buyers today expect not just roof over the head but certain lifestyle and livability quotient. This is where Hawelia Valenova Park could position itself with quality construction in a market where poor construction quality has been nemesis of many a leading brands, forget lesser known developers.

Is Valenova Park right property in the right market and at the right price point? Well, what I cannot vouchsafe with certain amount of conviction is that whether Noida Extension has finally emerged as the right market after so many controversies. The infrastructure bottlenecks have still not been addressed and most of the projects, including metro rail, are only at the planning level. Of course, widening of National Highway 24 has come as a shot in the arm of this micro market.

But the market uncertainties apart, Hawelia Valenova Park could otherwise be conveniently termed as right property at the right price point. With a price point of INR 3800-4000 the project has an edge over some of the over-glorified and hyped projects in the neighbourhood. 

But in terms of apple to apple comparison many of the competing projects have more of fancy amenities than apartment specifications. They, of course, are often referred as the best or flagship in the given market with advertising clout & brokers connivance.

This project has applied for the approval of Occupation Certificate (OC) and the amenities are just shaping up. Therefore, whether the project has an edge with its amenities and overall look & feel as well is something that is yet to be evaluated. At the layout & project planning level, it seems the developer has tried best to incorporate all that could qualify as luxury for mid-segment home buyers.

What is all the more important is the fact that none of the other hyped projects in this market could boast the kind of apartment specifications that this project has to offer. Given the limitation of just less than 4 acres of land, this low density project has 540 apartments.

With a floor to ceiling height of 11 feet, doors at 8 feet height, wheel chair friendly entry in apartments & washrooms, quality wooden work and artistically painted apartments with textured paint, wide balconies with over 4 feet vertical railings, garbage chute facility, wider common passages & staircases and many other features that offers ease of usability in day-to-day living, this project definitely has an edge in the neighbourhood. 

In an honest confession, it is not easy to rate such projects since a project evaluation is a function of apartment features, amenities, brand equity of the developer as well as the profile of the given market. While Hawelia Valenova Park has cutting edge with many of the project features, the same could not be said about the given market.

However, given the fact that this market is crying for quality housing in general and affordable luxury in particular, this project promises to stand out not only as the flagship of the developer but also flagship of the market of Greater Noida West. Track2Realty rates this project as Grade A and this is one project which would need a follow up review pretty soon. After all, in Greater Noida West this is the only project reviewed by Track2Realty that promises to elevate its rating in the days to come.

Ravi Sinha 

@ravitrack2media

 

Valencia Homes exceeds conventional affordable housing

Posted on by Track2Realty
Track2Realty Exclusive

News Point: Hawelia Valencia Homes defies the conventional wisdom of roof over the head in affordable housing market of Greater Noida West.

Hawelia Valencia Homes, Valencia Homes, Hawelia Group, Nikhil Hawelia, Rattan Hawelia, Valengova Park, Best project in Noida Extension, Best project in Greater Noida West, Affordable housing in Delhi NCR, Affordable housing case study, India real estate news, Indian realty news, Real estate news India, Indian property market news, Track2Realty, Investment in Noida Extension, Investment in Greater Noida West Property It is not easy for a real estate journalist to review an affordable housing project with no grandeur or big brand theory behind it. After all, we are used to enjoy and evaluate the other extreme end of property pyramid. Each of the luxury and ultra luxury projects has some unique elements to carry home the point, and of course, memories as well as aspirations.

In a way, housing market review is as good as being the custodians of the taste and aura, if not interests, of rich and powerful. We are, more often than not, so much in awe and reverence with the ultra luxury, its international brand associations and its celebrity connect that we tend to forget a house is primarily meant for roof over the head and not bragging of the elite.

What is then so great about an affordable housing project spread over a relatively smaller plot size of 6.5 acres? It is one of the many projects spread across the Greater Noida West (Noida Extension). There are only 870 odd apartments with mid-income professionals as its social profile. As a matter of fact, the road along the Hawelia Valencia Homes is dotted with affordable housing projects, much larger in size, scale and also brand value of the developer.

So, when I was invited to review Hawelia Valencia Homes, it could have been easier to dismiss it with a shrug off gesture that could suggest, “What’s New”. After all, it is the first project of the developer as far as high-rise apartment is concerned. It takes at least a couple of projects for the developer to prove his stamp of recognition.

But then in a market like Delhi-NCR in general and Noida-Greater Noida in particular that lacks the professional practices and buyers’ trust, any decent delivery is worth a closer look. It has been with this thought that the inquisitive journalist in me decided to take a closer look of the project.

And I was not disappointed, to say the least. The real estate critic writer in me just could not dismiss Hawelia Valencia Homes as one of the many affordable housing projects in the vicinity. Keeping in mind the first multi-storied project of the developer, its launch2sales ratio, the price point, its value proposition, and overall investment to occupation cycle, it is a value for money project.

Hawelia Valencia Homes Highlights 

First multi-storied housing project of the developer but ahead of competitive market curve

Least consumer grievances and more appreciation for the developer to adopt best practices

Value for money project in the affordable housing segment

Track2Realty assigns it with A (Stable to Positive) Rating

Most of the offerings claimed in the marketing brochure by the developer have been met. In a market with high density projects scattered all around, this is among the lowest density projects of the region. As a matter of fact, the developer has not availed the additional density granted in lieu of extra compensation to the farmers.

The developer seems to have been grounded and there is not much bragging about Hawelia Valencia Homes, even if the grey issues and buyers’ complaints are comparatively least with this project. It is no mean feat in a market known for builder-buyer conflict out in the open, widespread protest and bad blood during the construction life cycle of the project itself.

Of course, there a few grey zones with this project as well. Hawelia Valencia Homes has been delayed for over a year. It is a different matter that the average delay in this market has been no less than three years, thanks to the builders’ lack of market depth, execution capability, diverting funds and greed for land bank. The problem has also been compounded due to red tape and rampant corruption in the developing authority called Greater Noida Authority.

Unlike many other developers in the given market, Hawelia Group has been upfront to offer the delayed penalty as per the builder-buyer agreement. I am conscious of the fact that most of the projects in this micro market were launched at relatively lower price point, and since then the cost escalation has led to many builders not honouring their own builder-buyer agreement.

While the builders are asking the buyers to pay penalty, escalation charges and many other hidden charges, they are not ready to compensate the buyers for the delay in delivery of project. And it is here that Hawelia Valencia Homes buyers are a testimony to the professional conduct of the developer.

In the course of my interaction with the homebuyers, I am told that the Hawelia Group has resisted the temptations, and unlike the fellow developers in the micro market asking for INR 50-60 per sq feet, has not demanded the buyers to pay additional charges, like Farmer Compensation and other such charges. The buyers also appreciate the developer for reducing the balance payment post the GST.

As you reach the destination Noida Extension at the entry point of Kisaan Chowk, a right turn for nearly two kms and then on the further right hand side you have Hawelia Valencia Homes. In the first look, the project appears to be sandwiched between larger projects and gives the impression of looking for an identity.

However, when my eyes for detailing is on the lookout for deficiency with the project, I do realize that the aesthetic value of the project is just been shaping up. Right from the entry to lobby, there seems to be thoughtfulness in its future functionality. And mind you, the average price of the project is just around INR 3800 per sq feet. The project has only got part OC (Occupancy Certificate) and the aesthetics of the project is actually work in progress.

Hawelia Valencia Homes is definitely not a bad choice for investment; only if you are an end user. The competitive neighbourhood market and demand-supply ratio definitely deters the short to medium term investors or those looking to invest for rental returns. With the Hawelia Valencia Homes is costing between INR 37-72 lakh, the project is anyway not meant for the investors.

With a ‘Stable2Positive’ Outlook Track2Realty assigns Hawelia Valencia Homes as ‘Grade A’ Rate project. Probably some more amenities & USPs would have lent the project to cutting edge market differentiation (beyond the standpoint of Greater Noida West) and it would have then qualified Hawelia Valencia Homes as ‘Grade A+’ with ‘Positive Outlook’. But then ‘ifs’ and ‘buts’ do not define the housing market and each project is a learning curve for the serious developers. 

By: Ravi Sinha