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Noida and Greater Noida, once known for affordable and mid-segment properties, have emerged as hotspots for premium real estate over the past five years. Previously limited to properties in the Rs 40-80 lakh range, new launches now frequently exceed Rs 1 crore, often in the same sectors and on leftover land from earlier projects. According to a report by property consultant JLL, 14,822 flats worth Rs 24,944 crore were sold in Noida last year. This surge is underscored by a significant increase in the average apartment price, which rose from Rs 1.24 crore in 2022 to Rs 1.68 crore in 2023. Apartments priced at Rs 3.5 crore and above made up 23 per cent of total sales in 2023. Stakeholders believe the transformation is driven by several factors, chief among them being infrastructure development, completion of stalled projects, and favourable policy changes. Key infrastructure projects include the development of an international airport, dedicated industrial sectors, data centre land banks, and an extensive network of roads, railways, and metro lines, all of which have significantly improved connectivity and logistics in Noida and Greater Noida. Developers such as Experion, M3M, Godrej, Ace, County Group, Max are offering ultra-luxurious apartments and high-end studio apartments in Central Noida. Groups like Express, DASNAC, RG, and others have introduced units starting at Rs 10,000 per sq ft, featuring limited towers with three- and four-bedroom configurations. Price appreciation has been most notable in the 7x (73, 74, 75, 76, 77, 78) and expressway sectors (sectors 108, 142, 143, 150, and 152). For example, the cost of a three-bedroom apartment in these sectors has increased from around Rs 5,800 per sq ft in 2019 to over Rs 10,000 per sq ft today. Country Group's Ivy County, initially priced at Rs 6,000 per sq ft in 2019, now commands Rs 15,000 per sq ft with ready to move in units while rates in its recently-launched Ivory County are between Rs 15,000 sq ft and Rs 16,500 per sq ft. Ivy County is located in Sector 75 Noida, while Ivory County is in Sector 115 Noida. Greater Noida West, also known as Noida Extension, has seen a significant rise in prices as well. A property that was priced between Rs 3,500 and Rs 4,500 per sq ft in 2019-20 now sells for more than Rs 7,000 per sq ft. Whether a property is completed or ready for occupancy, prices in this region have increased steadily. RG Group Director Himanshu Garg highlighted the changing preferences of buyers. "Customers are looking for a lifestyle, not just a nice apartment. They now ask about luxurious entrances, opulent clubhouses, landscaping, and even facilities for visiting guests. This shift in demand has encouraged us to enter the premium segment in Noida and Greater Noida West," Garg said. A critical factor influencing buyer sentiment is the completion of previously stalled projects. Various legacy issues had delayed these projects, but the availability of SWAMIH funds and efforts by UP RERA have facilitated their completion. Promoters have also turned to joint development agreements (JDA), private funding, and asset monetisation to secure the necessary funds. The resurgence of these projects has not only rejuvenated the respective sectors but also driven demand and prices upward. Dinesh Gupta, Secretary of CREDAI Western UP, said, "Large-scale infrastructure developments, such as the construction of Jewar Airport, Film City, have significantly improved public perception of the region. The government's efforts to address stalled projects and maintain law and order have driven promoters to offer beyond established trends." This fiscal year has seen a significant increase in property prices and according to a 99acres report, prices in over 10 Noida areas have risen 23 per cent year-on-year, with the most substantial increases observed in sectors 108 (60 per cent) and 144 (51 per cent). Jaypee Greens in Greater Noida have seen prices jump 30 per cent year-on-year and 92 per cent since 2020, the report stated. Another major factor contributing to this growth is the state government's acceptance of the Amitabh Kant Committee's recommendations. Development authorities recalculated pending dues, allowing developers to deposit dues in installments and proceed with unit registrations. The perception of Noida has been further enhanced by the government's push for business and infrastructure development. Gautam Buddh Nagar is now home to Fortune 500 companies in IT/ITeS, research, and consulting, creating numerous job opportunities and attracting people seeking proximity to their workplaces. Alakshendra Singh, Head of Corporate Communications at Eros Group, said, "In the past two years, we have seen a notable improvement in demand and prices, particularly for projects on 130-meter roads and near future access points like Jewar Airport and the Yamuna Expressway." Civitech Group CEO Sarthi Goel said post-pandemic, there is a drastic change in the image of properties and projects belong to the Noida and Greater Noida region. "Promoters are more aware of the changing taste of home buyers and are learning from past experiences. Now they are bringing limited units and towers, utilising latest construction technologies in construction to avoid any compromise with the quality and timeline. "Of course this will add a premium tag on the upcoming projects and this market is still pocket friendly in comparison of any other regions having similar," Goel added.

Karnataka Chief Minister Siddaramaiah on Sunday defended the hike in petrol and diesel prices saying that it will ensure funding essential public services and development projects. With the opposition BJP and its ally JD(S) coming down heavily on the Congress government for increasing the petrol and diesel prices by Rs 3 and Rs 3.5 per litre respectively, Siddaramaiah said even after the hike, taxes on fuel remains low compared to most southern states. "The Government of Karnataka has increased VAT on petrol to 29.84 per cent and on diesel to 18.44 per cent. Even after this hike, our state's taxes on fuel remain lower than most South Indian states and similar economy-sized states like Maharashtra," the Chief Minister said in a statement. According to him, the VAT on petrol is 25 per cent plus Rs 5.12 additional tax, and on diesel in Maharashtra it is 21 per cent. Karnataka's revised rates are still more affordable, he pointed out. "Karnataka's VAT adjustment ensures we can fund essential public services and development projects. The state remains committed to balanced and responsible governance," Siddaramaiah emphasised. Stating that despite the VAT hike, diesel prices in Karnataka are still lower than in Gujarat and Madhya Pradesh, the Chief Minister said, "We remain committed to keeping fuel prices reasonable for our citizens." He also took a dig at the opposition BJP, which has decided to stage statewide protests on Monday. "The then double engine BJP government collaborated to divert Karnataka's resources to other states. The state BJP govt kept reducing VAT on petrol and diesel while the Central govt increased its own taxes," the Chief Minister charged. He alleged that this manipulation by the previous BJP government in the state led to reduced revenue for Karnataka, "while the Central government collected more for its coffers, cheating Kannadigas." Siddaramaiah said that the Central Excise duty on petrol was Rs 9.48 per litre and Rs 3.56 on diesel before the BJP came to power in 2014. However, during the tenure of the BJP government, the Central Excise Duty on petrol and diesel was steeply increased, reaching a record high of Rs 32.98 and Rs 31.83, respectively, in May 2020. Subsequently, the Excise duty on petrol and diesel was cut by Rs 13 a litre and Rs 16 litre, respectively, between November 2021 and May 2022, he added. "Despite the reductions, the current Central excise duty on petrol is Rs 19.9 and on diesel is Rs 15.8. We urge the Union Government to reduce these taxes for the benefit of the people," the Chief Minister said.

Central banks cagey about joining the global interest-rate cutting cycle may reveal themselves this week with a quartet of decisions in advanced economies.Days after the Federal Reserve pared back projections for US monetary easing this year, policymakers from the UK to Australia are likely to signal that they’re still not convinced enough about disinflation to start lowering borrowing costs themselves. 111037578Such outcomes would reaffirm how June, originally penciled in as a month-long opening ceremony to a series of global rate cuts, may increasingly turn out to be a widespread display of hesitancy.While Canada did deliver the first such move of the Group of Seven on June 5, the European Central Bank’s reduction in borrowing costs a day later, accompanied by a higher inflation projection, showed limited enthusiasm for further easing.At the Bank of England on Thursday, a looming election and some lingering price pressures are adding to the case to wait at least until August before cutting rates.Peers in Australia and Norway, also meeting this week, are in no rush to do so either, while half of economists surveyed reckon the Swiss National Bank may avoid a second reduction for now following its bold move in March to ease before its neighbors.Decisions elsewhere may showcase the different stages of global monetary cycles, with Brazil and Paraguay expected to keep borrowing costs on hold, and Chile anticipated to slow rate cuts.What Bloomberg Economics Says:“Major central banks look set to keep interest rates on hold, having looked more likely to cut only a few weeks ago. The BOE is almost certain to keep policy unchanged in June ahead of the UK election. It’s a closer call for the SNB.”Elsewhere, US retail sales, a raft of Chinese data, and inflation numbers from the UK and Japan will be among highlights for investors this week.US and CanadaA week after a series of reports showed moderating US inflationary pressures, investors will get a look at fresh figures on consumer demand, the housing market and industrial production. Fed officials also return to the public-speaking circuit after penciling in just one rate cut for 2024.Policymakers speaking this week include Thomas Barkin, Susan Collins, Lisa Cook, Mary Daly, Austan Goolsbee, Patrick Harker, Neel Kashkari, Adriana Kugler, Lorie Logan, Alberto Musalem and John Williams.Retail sales figures out Tuesday are projected to show shoppers reengaged somewhat in May after pulling back a month earlier, underscoring a resilient consumer. Separate data are seen showing an increase in production at the nation’s factories, mines and utilities.On Thursday, housing starts data may show a modest increase in May construction from a month earlier as builders adjust to swings in underlying demand while staying diligent on inventories.A limited number of listings in the resale market, along with the recent rise in mortgage rates, is taking a toll on sales of existing homes. On Friday, the National Association of Realtors is projected to report another decline in previously owned home sales. 111037588Looking north, the Bank of Canada will release a summary of the deliberations that led it to cut rates this month, providing further insight into how policymakers reached the decision and the conditions for a rate cut at their next meeting July 24. Statistics Canada will publish population estimates for the first quarter, and retail sales data will also offer new insight into the strength of the Canadian consumer.AsiaThe week in Asia kicks off with China’s monthly deluge of data on Monday. The figures are likely show gains in industrial output and retail sales in May were slightly below the year-to-date pace, while the increase in fixed asset investment held steady at 4.2% and the drop in property investment deepened a tad. A day later, the Reserve Bank of Australia is expected to hold its cash rate target at 4.35%, with focus falling on how authorities view the inflation trajectory after consumer price growth unexpectedly picked up in April. 111037613The slowing pace of disinflation could potentially delay a pivot to rate cuts or spur another hike, according to Bloomberg Economics.Japan’s key price gauge is expected to show consumer inflation accelerated to 2.6% in May, keeping the Bank of Japan on track for a rate hike as early as next month. New Zealand’s economic growth may have edged back into positive territory in the first quarter after two straight periods of modest contractions.Japan trade data on Wednesday may show growth in exports accelerated in May to the fastest clip since November of 2022. Singapore, Malaysia, South Korea and Indonesia also get trade statistics. The week concludes with a blast of PMI figures for Australia, Japan and India.Meanwhile, Pakistan is trying to increase its chances of securing a new loan from the International Monetary Fund. It raised taxes in its budget last week to boost revenue and on Sunday announced that it will be increasing power prices by an average 20%.Europe, Middle East, AfricaIn the UK, consumer-price numbers on the eve of Thursday’s BOE decision may draw the focus on investors. That report could show inflation reaching the 2% target for the first time in almost three years.But with the underlying so-called core gauge likely to come in above 3% and an election campaign under way, economists predict that policymakers will keep borrowing costs on hold. Their forthcoming decision in August, featuring new forecasts, may offer a more opportune moment to begin cutting rates. 111037623The SNB decision will also take place on Thursday. Economists are evenly split on whether or not officials will lower borrowing costs in their second consecutive quarterly reduction. Keeping them on hold would guard against any acceleration in inflation and avoid a depreciation of the franc. The same day, Norway’s central bank is widely expected to keep its rate at 4.5% for the fifth straight meeting. Investors may focus on how much improving economic activity and higher wage pressure will delay plans to reduce borrowing costs, with some suggesting no action until next year.Turning east, Hungary is preparing to wrap up its more than year-long monetary easing cycle, though the slide in the forint may narrow or eliminate the central bank’s room to deliver one last cut in the European Union’s highest key rate. That’s on Tuesday.In the euro zone, the data highlight is likely to be the latest set of purchasing manager indexes for June, released on Friday, which may indicate whether or not the region’s economic pickup is gaining momentum.ECB officials scheduled to speak include President Christine Lagarde and Chief Economist Philip Lane on Monday, and Vice President Luis de Guindos on Tuesday.Another key event, taking place against the backdrop of last week’s market turmoil afflicting France, will be the release of the European Commission’s verdict on Wednesday admonishing countries in the region for breaching its 3% deficit limit.Financial turbulence is likely to be a topic when euro-zone finance ministers meet in Luxembourg later in the week. Further afield in the region: in South Africa on Wednesday, inflation is forecast to have remained steady at 5.2% in May. Meanwhile neighboring Namibia is set to maintain its rate at 7.75% amid quickening consumer price growth and to safeguard its currency peg with the rand.Latin AmericaChile’s central bank on Tuesday will likely trim its key lending rate for an eighth straight meeting though they may slow the pace of easing and deliver a quarter-point cut to 5.75%.Policymakers in Paraguay also meet this week and may opt to keep their key rate unchanged at 6% for a third straight meeting after consumer prices accelerated to 4.4% in May from 4% in April. 111037630In Mexico, much of the focus will be on the presidential transition from Andres Manuel Lopez Obrador to Claudia Sheinbaum and potential policy implications that have rattled investors.The weakness seen in the March retail sales and GDP-proxy data can be expected to extend into the April reports posted this weekColombia’s economy rebounded less than expected in the first quarter while posting negative month-on-month GDP-proxy prints in February and March. The April data due this week may show activity rebounded at the start of the second quarter.In Brazil, the central bank on Wednesday may well draw the line under its 325 basis-point easing cycle and keep the benchmark Selic at 10.5% amid unmoored inflation expectations and mounting government spending concerns. 111037633Analysts now see the key rate at 10.25% come year-end 2024, representing a 125 basis-point increase in the rate forecast since March, while the swaps market is now actually pricing in tightening toward year-end.

Nifty is stuck in a narrow range between 23300-23500, and a break on either side will lead to trending moves, says Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities.“The underperformance of BankNifty is preventing Nifty from moving higher; for Nifty to break on the higher side, BankNifty must start performing. The undertone remains bullish, and one should adopt a buy approach on a breakout above 23500, targeting 23,800-24,000,” he says.Edited excerpts from a chat:Nifty has rallied non-stop for the last 4 days to touch fresh record highs but has been trading within a broad range of 23300-23500. Do you see higher chances of a strong move on either side of the band in the week ahead?Nifty is stuck in a narrow range between 23300-23500, and a break on either side will lead to trending moves. The underperformance of Bank Nifty is preventing Nifty from moving higher; for Nifty to break on the higher side, Bank Nifty must start performing. The undertone remains bullish, and one should adopt a buy approach on a breakout above 23,500, targeting 23,800-24,000.How would you trade Nifty Bank in the holiday-shortened week?For Nifty Bank, one should wait for a breakout confirmation above the 50,200 mark. If the index breaks above 50,200, it will open the path to 51,000 on the upside, with strong support at 49,800. However, if the index fails to surpass this resistance zone, it may enter a sideways to mild downward move to the 49,000 mark.How does the momentum look like for sugar and ethanol-related stocks like Praj Industries and Shree Renuka Sugars?The entire buzz in the sugar sector began after the announcement of increasing the ethanol mix from 15% to 20%, which injected new momentum into the space. The outlook is positive for the near to short term, and stocks like Praj and Renuka Sugar are expected to perform well. Praj has broken its previous swing high of 650, which will now act as support in case of a decline. Investors can buy into the sugar sector in a phased manner due to its volatile nature.Sustained buying has been seen in PSU stocks. Any names that you would take a bet on in the week?Following the election outcome, there has been significant stability across the entire PSU pack, with some stocks surpassing their previous swing highs. One stock to highlight is CONCOR, which shows a strong technical chart setup with higher highs and higher lows intact on the daily chart. The stock has experienced volume-based buying in recent trading sessions, clearly indicating bullish momentum. Support for the stock is placed at 1060, with potential upside targets of 1240 and 1400.Shares of Titagarh Rail were the top performer in the week with a 29% return. Do you see some more steam left as rail stocks may remain in focus ahead of Budget preparations?The outlook for the entire railway sector appears positive, but investors should adopt a buy-on-dips approach. Titagarh has experienced delivery-based buying this week, indicating visible long-term buying interest. The stock has surpassed the resistance level of 1300, and dips toward the support would present an ideal opportunity to go long.Give us your top picks for the week.BUY PPL PHARMA AT 157, SL-150, TGT 180/200RATIONALE: The stock is on the verge of a breakout from its consolidation phase on the daily chart. The momentum indicator RSI is sustaining above the level of 60, indicating strong momentum. The stock is trading above its short-term moving average of 20 DMA, which is placed at 150 and acts as support in case of any declines. Once the stock surpasses the mark of 160, it is likely to see an acceleration of momentum towards the 180/200 mark.BUY NYKAA AT 170, SL-160, TGT-180/200RATIONALE: The stock is showing early signs of bottom formation on the long-term chart, evidenced by volume-based buying. It has taken strong support at its 100DMA and 200DMA, confirming the bottom formation. Additionally, the momentum indicator RSI is on the verge of a breakout from a falling trendline on the daily chart, which will accelerate momentum going forward.BUY CONCOR AT 1135, SL-1060, TGT-1240/1360.RATIONALE: The stock is trading in a strong uptrend, maintaining higher high and higher low formations on the daily chart. It has surpassed its 20DMA with significant volumes, indicating a bullish undertone. The lower-end support is placed at 1060, which will act as a cushion in case of any declines.

As management has expressed optimism about consumption revival and confidence in their execution, Dabur India's target price was raised to Rs 700 by domestic brokerage firm Emkay Global.Emkay Global said that they foresee Dabur benefiting from consumption recovery, with the company positioned to gain from steady distribution expansion, comprehensive portfolio category coverage, sustained focus on innovation, and adequate liquidity for bolt-on acquisitions.“Dabur has been our preferred consumption pick, given its relatively higher share of rural, diversified portfolios and its sustained thrust on NPDs,” said Nitin Gupta, Senior Research Analyst at Emkay Global.Given Dabur's diversified portfolio and better execution, the FMCG major remains Emkay’s top preference. The brokerage noted that the recent run-up in the stock partially factors in its potential demand recovery but they see Dabur well placed for any recovery in consumption.Portfolio executions have not yielded any material outcome in the past due to subdued demand but are expected to benefit from demand recovery.Dabur has been expanding the total addressable market (TAM) across brands with category extensions, which are backed well by distribution and marketing. In the last couple of years, some innovations have not seen scale-up, given a correction in the marketing budget, but these are likely to be supported ahead with higher allocations.Further, with digitization in place, the company is also well-placed to leverage shelf space at the store.The shares of Dabur closed flat on BSE at Rs 609 as of Friday.(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times)