Edenia, at Wave City Center in Noida, is set to transform multi-use studio apartment market in the NCR with world-class units at pocket-friendly prices. RAVI KUMAR MANGALAM writes
Wave Infratech, one of the leading real estate developers in India, is bringing world-class multiuse studio apartments at Wave City Center, in the heart of Noida.
Edenia will offer airconditioned studios with commercial licence, which come without any legal or regulatory hassles. This will be a boon for young and ambitious entrepreneurs who can work and live here.
“Imagine a place where your workplace turns into your own abode with all the services and your needs being taken care of by a renowned hospitality operator. Edenia will offer such services at an unbeatable locationthe neighbourhood already has superior social infrastructure and ample options for entertainment and retail outlets,” a spokesman of Wave Infratech said.
The contract for this tower will be awarded to a construction company of international repute and the project is expected to be completed by end-2016, the spokesman said.
Studio and serviced apartments have emerged as smart economical investment options in India, as several top developers have also started offering these in other parts of the country. The demand for studio apartments is outstripping existing supply, generating high rental income, property appreciation, and offering opportunities to high-value business tenants. Investors, especially NRIs, believe that investment in studio apartments is a wise and cost-effective decision, as it offers solid returns in a short duration.
The National Capital Region has registered huge demand for studio apartments as expats, investment bankers, designers, architects, consultants, doctors, chartered accountants, etc, who are setting up private consultancies, prefer to live near their place of work. According to industry trends, the main buyers of studio apartments are young entrepreneurs and single workers; also, with many IT companies, financial institutions, and BPOs now setting up their base in the NCR, the demand has only grown.
Edenia comes with a complete bouquet of services like concierge service, travel desk, housekeeping, laundromat, etc, on demand. The multi-use studio apartments in Wave City Center come in sizes ranging between 422 sq ft and 678 sq ft, which are priced between Rs 35 lakh and Rs 66 lakh.
Experts say that existing and forthcoming landmark infrastructural projects like the adventure park, IT-park (to host 9 IT firms), F1 International Circuit, Yamuna Expressway, FNG Corridor, the proposed cricket stadium, and the proposed 102-heactare night safari in and around Noida have helped in generating a huge demand for these studio apartments. If all these projects are implemented as planned, the concept of fully-furnished serviced studio apartments is here to stay and is the best economical alternative to 5- star hotel accommodations, experts said.
The residents of Edenia will enjoy the strategic location advantages like excellent connectivity to the Delhi NCR, which comes from being located in Wave City Center. The firm is also offering various payment plans to meet the requirements of prospective customers. Apart from down-payment plan and construction-linked plan, a special payment plan of 40:30:30 is being offered for Edenia where 40% of the total price is payable at the time of booking, 30% on completion of the superstructure, and 30% on offer of possession, the spokesman said.
“There is a rising demand for multiuse studio apartments in Noida, and with Edenia, we are looking to set a benchmark for this product in India with our world-class consultants, contractors, architects and technology partners on board, coupled with convenient payment plans,” the spokesman said.
There will 558 units in Edenia, a few of which will be fully furnished and managed by a hospitality service provider, to be launched later. Other facilities include dedicated service elevators, high-tech round-theclock security, high street retail on the lower levels, and an exclusive clubhouse with swimming pool, steam, and sauna.
Studio units are also in demand from newly-married couples, especially professionals, who are moving into cost-effective 1BHK flats. The demand for studio apartments is growing not just in the metros but also, surprisingly, in Tier 2 cities where there has been an increase in IT and BPO jobs, which attracts young workforce from across the country.
Wave City Center is one of India’s biggest mixed-use residential and commercial development over 152 acres in the heart of Noida. It has a diverse portfolio of products in addition to multi-use studio apartments, like premium and ultraluxury residences, premium office complexes, high street shop condominiums, mall & multiplexes, a range of premium hotels, a convention center and a family entertainment center—all these bringing together the experience of luxury living, hassle-free shopping, comfortable work environment, along with fun and entertainment matching international standards.
source:- http://epaper.timesofindia.com
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