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property-in-noida

Noida offers multiple choices to property buyers

Noida and its adjacent localities offers a fair mix of property options from high-rise residential apartment to villas and penthouses. Here is a peek into this market.

Noida has become a preferred realty destination in the NCR circuit due to good civic infrastructure, advent of metro and smooth connectivity, water and electricity supply and above all establishment of good educational institutions. The availability of word class specifications and amenities in the city makes it the first choice for home buyers or investors to buy property here.

Young working professionals who have a high income disposal prefer to live in Noida and wish to buy own house instead of living in rented home. It is due to only high price appreciation of the property.

Here is a quick overview of the property options available in this region:

Apartments:

These are by far the most popular property type and in a society they tend to be self-contained as well. Noida and Greater Noida localities have ample of residential apartment options in its established and upcoming sectors. These apartments are built in blocks in the form of 1, 2, 3, 4 and 5 BHK depending upon the layout and space available for the particular project. The flats on offer are from early stage, undergoing construction, ready to move or even remodelled.

While some regions of Noida- Greater Noida are fully established in respect of civic infrastructure and smooth connectivity. Noida offers residential apartment in the price range of Rs 2,500 – 7,200 per  sq ft, with the well-developed sectors having higher property prices of this range. While Greater Noida flats range between Rs 2,800 – 4,200/ per sq ft.

Despite the high cost on ready-to-move-in apartments in Noida and Greater Noida, buyers and investors are often preferring to buy it, instead of investing in under-construction projects, says Narendra Diwedi of Ojaswi Associates”.

Villas:

Such concepts are built upon ample space. Villas are typically preferred by high income segment. It is also popular among high income professionals and corporate houses.,

The price of villas in Noida and adjoining areas can range between Rs  4,000 – 11,000 per sq ft for  an area of 2,000 – 3500 sq ft, further sdepending upon the locality and specifications.

Penthouses:

A penthouse in general refers to top floor of an apartment building. Such housing concept is built on top-most floor so that buyers can get more space (visually and otherwise) than normal apartments in the same building.

Plots:

Even though residential apartments are first choice of home buyers, plots still remain a popular choice due to high appreciation. Plots of all sizes are available in Noida, Grater Noida and along the stretch of Yamuna Expressway. Plots investments are good when you have planned to build a home on it after few years. Buying process is simple and transparent as compared to residential apartments.

Gaur Yamuna City Plots along the stretch of Yamuna Expressway offers plots with an area of 120 – 222 sq yard and price can range between Rs 23,000 – 25,000 per sq yard.

 

Realty Market Picks Up in Greater Noida

Realty market in Gr Noida The region has witnessed the maximum number of project launches at various stages of construction in contrast to the core Noida market.
Greater Noida and Greater Noida (West) have witnessed rapid development in terms of infrastructure and basic amenities. This combined with upcoming Metro line and increase in green area has made the area attractive to developers.

The area has witnessed the maximum number of project launches at various stages of construction. This is in direct contrast to the core Noida market, which reported a relatively lesser number of projects in the last one year.

“Post the Supreme Court judgment, one factor that has worked in favour of Greater Noida is that financial institutions, which were holding back on investment, opened their purse strings to developers and builders. This has resulted in giving the required impetus for several new projects in addition to boosting under-construction projects,” says Tushaar Dua of Avid Associates & Property Advisors.

Price advantage

The one key factor working in favour of Greater Noida is its affordability.

According to HappyKeys data, you can easily buy a 1BHK apartment in the micromarket for as low as Rs 20 lakh while a 2BHK with a unit size of about 850 square feet is available for Rs 29-30 lakh.
Sectors reporting fast development include Sectors 1, 4, 22 (including A and D), 16 and 16C. Other popular sectors include the ones in proximity to TechZone 4, Sector 2 and Chi-Phi.

What’s out there

Developers in this micro-market include Supertech, Jaypee, Lotus Group and Panchsheel.
2BHK in this area is available in the price range of Rs 29 lakh to Rs 40 lakh, catering to a wide demography of home buyers. Broadly, the unit sizes being offered here are between 850 and 1,200 square feet.

Almost 80 per cent of the offerings in the market cater to this segment. Some of the players include Lotus Group with Lotus Greens project, Nirala Greenline and Panchsheel Greens.

In the upper price range of Rs 60 lakh to about Rs 1.5 crore, offerings are varied from apartments to villas and even a few plotted communities.
Interestingly, you can even get a 3BHK at about Rs 35 Lakh and above. Developers offering in this price range include Imperia Group, Jaypee and Supertech.
On an average, a 3BHK unit here is in the price range of Rs 35-Rs 90 lakh for sizes varying from 1,250-2,600 square feet.
“If you compare the prime areas in Noida with those located in Greater Noida, there is an average price difference of 10-30 per cent. And it is this value for money that is making the place attractive,” says Kuldip Singh, a freelance property advisor and consultant, with over a decade of experience in the Noida-Greater Noida Market. “Thus though social infrastructure is still to develop here, there is optimism given the planned infrastructure development underway.”