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Noida: Sector 76 Poised For Robust Growth

Sector 76 is home to more than 2,000 families and hundreds of new residents will start living here when most projects hand over possession this year. We take a stock of upcoming developments

In the early 1990’s, a handful of retired people from service sectors and the army chose Noida as their abode. The idea then was to settle in ‘open’ area. Noida was then only a cluster of numbered colonies.

Twenty years later, Noida central is as chocablock as Delhi’s central localities. The only difference is that in Delhi, every inch of land has been used for development while settlement is still happening in the new sectors of Noida. The city is also witnessing growth in lateral areas like Noida Extension and Yamuna Expressway.

By the end of 2016, about 3,000 flats in Noida’s Sector 76 will be handed over to tenants or will be made ready to move in. This is over and above the half a dozen of societies located in Sector 76 where possession has already started. With so many residents moving into Sector 76, this area is poised to become one of the thickly populated regions of Noida.

Sky high towers
Every bit of land in Sector 76 has been taken over by private property developers for further development. Builders operating in there include Amrapali, Skytech, Aditya and Sethi. The project line-up is as follows:

Amrapali – Crystal Homes, Princely Estate, Silicon City
Skytech – Matrott
Aditya – Celebrity Homes
Sethi – Max Royal

The units available in these projects vary from 1BHK, 2BHK, 3 BHK, 4 BHK and 5 BHK and even penthouses. Each of these is projects have multiple towers and are 20 floors high and even beyond.

Social infrastructure
Development in Sector 76 is being triggered by its infrastructure plans. “Sector 76 is the heart of all the development happening on the stretch from Sector 50 to Noida Extension. Builders showed huge interest in this sector right from the beginning. It has location advantage and good neighbourhood around,” says property broker Deepak Mishra from Narayana Consultant.

Factors impacting Sector 76’s growth:

-15 minutes away from Noida’s sector 18 market.

– Excellent location. Bang on the highway, it is sandwiched between Sector 50 and Sector 77, which are both known residential areas. It has Sector 78 in adjoining side where many societies have spring up recently.
– Good neighbourhood. Sector 50 and Sector 78 have decent social infrastructure.
– Metro work is already in progress.
– Excellent road connectivity. Autos and three-wheelers ply frequently. Proposed FNG will start from road arch ahead of Sector 76.
– Malls, school and convenience centres in Sector 50 and Sector 78 have already become operational.

Spike in property prices
Mishra also indicated that property prices on Sector 76 have jumped from Rs 2,500 per sq ft in 2010 to Rs 5,200 per sq ft. “A quick drive through the sector will tell you that already lot many people are residing here. That brings in more residents and tenants to the locality. Buying and renting, both have gone up in the last three years particularly even when the property market has been stagnant mostly,” says Mishra.