Green living

Rarely have real estate developments caused such a frisson of excitement as Green Ville, Jaypee Greens' gated community within its Greg Norman-designed golf estate in Greater Noida.

A brisk 15 minutes from Noida over the expressway, Greater Noida is the only example of a completely new township that has integrated public and private enterprise to build a city suburb where the masterplan seems to be in place before many of the developments by real estate owners have taken off.

For Jaypee, its 452-acre estate that is at the heart of the township has provided it an opportunity to develop leisure, business and residential complexes simultaneously.

While the Rs 3,000-crore golf course has taken off with 18-holes spread over India's largest and Asia's third-largest resort, managing director S G Awasthi is excited about the challenge of building what he hopes will be India's finest residential gated community within a golf course.

Divided into estate homes, villas and condominiums, "each is supported by the finest architects and landscapists for any project in India", he says.

Though 18 holes at the course are operational, coming up as part of the overall plan is another 9-hole course, the residential complex, a 60-acre nature reserve that will be open to the general public, and a high school. Later, a sports complex and a corporate park will be added to the final masterplan of the estate.

For the moment, fast nearing completion are the first of the customised estate homes and villas that will be handed over this summer.

Among the earliest to move in will be Jai Prakash Gaur, chairman of the Jaypee Group with interests in hydropower, cement, technology, real estate and hospitality projects. "That will indicate our sincerity to those who've invested with us," confirms Awasthi.

Designed by Canada-based Arcop Associates (with Shivan Ganju as project architect) along with hospitality consultants Wimberley Allison Tong and Goo, and Taliesin Associates, Belt Collins of Singapore are consultants for landscaping.

Fittings are being sourced from India's high-end providers for the condominiums, including imported Italian marble, while interiors for homes and villas are flexible for customisation.

"When you invest in a development such as this," explains Awasthi, "people pay for the ambience and security and ongoing maintenance. Therefore, price-sensitivity is not an issue."

With real estate booming again, but with far cheaper options available in both Noida and Gurgaon, whether India's most expensive suburban residential community finds takers will be watched keenly as sales for the project go underway shortly.

 

Gated value For a real estate within the greens
Description	Built-up area (in sq ft)	Price (Rs in lakh)
Estate homes	7,000	306-476
Villas	4,950	155-194
Townhomes	1,500-3,500	80-124
Condominiums	3,960-4,125	150-160
Studio apartments	1,500-2,500	60-95
Penthouses	4,200-7,500	175-290