With possession of over 10,000 residential apartments expected in Noida this year, investors are buying units worth Rs. 60 lakh to Rs. 80 lakh to make a good profit in Noida Real Estate Market.
If you’re one of the lucky ones who bought an apartment two years ago along the Noida-Greater Noida Expressway stretch for Rs. 40 lakh, the same piece of property is today likely to get you anything between Rs. 60 lakh and Rs. 80 lakh, depending on the project and location. And if you were to hold on to it for another year or more, a further 30% appreciation is likely as by then over 15000 families would have moved into different projects here. Besides, as we all know, it’s the population density that dictates the price of units in an area.
hose who intend buying a house for both end-use or investment can choose from both the resale and the primary market. A buyer can easily get a 2BHK or a 3BHK of size 1000 sq ft to 1500 sq ft along the Expressway or in some new projects in the other sectors.
Some ready-to-move-in options are also available. According to Sunny Bendi of Ghosh N Ghosh, this price range is very popular among investors as possession is likely to begin in a couple of months for several projects. Anybody thinking of exiting even in six months to a year is sure to get good returns. And for those who intend to move in for self-use, an appreciation of 20% to 30% is definitely assured.
Some of the options available in Jaypee’s Wish Town are Pavilion Court and Pavilion Heights (around R70 lakh) and in The 3C Company projects, including Lotus Boulevard (Sector 100), Lotus Panache (Sector 110) and Lotus Zing (Sector 168).
Units in Logix Blossom County, located in Sector 137, are expected to be handed over in a couple of months. A 2BHK apartment of 1100 sq ft in Omaxe Greenwoods in Sector 93 B is ready to move in. The cost is Rs. 80 lakh.
Talking about a few new options, Navneet Varshney of Investors Clinic says a 1500 sq ft apartment is available for R70 lakh in Supertech’s Cape Town project. This project is located opposite Sector 50 and its approach is from Noida’s City Centre. The first phase is expected to be complete in two years.
In the resale market, a 1650 sq ft unit is available in Aditya’s Celibrity Homes located in sector 76 for R77 lakh. The size of the unit is 1650 sq ft. Possession is due in some months.
Rakesh Ralli, director, Ralli Estate Service, suggests options in the Paras Tierea project by the Paras group, located in Sector 137. Handover of the first phase is expected in March. In the resale market buyers will have to pay a transfer charge of R75 per sq ft.
Some ready-to-move-in options are available in projects located in Sector 50 such as Omaxe Twin Towers and ATS Green Homes, all available in the R70 lakh range.
Nitin Bisht of The Zaminder Associates points out that those with a R75 lakh budget have a few choices available in the Cleo County project. This has apartments
Located close to the Noida-Greater Noida Expressway, this area attracts a large number of buyers due to its favorable location. A buyer can easily get a 2BHK or a 3BHK of size 1000 sq ft to 1500 sq ft along the Expressway or in some new projects in the other sectors of 1620 sq ft to 2440 sq ft and is located in Sector 121.
Buyers can also take a look at the Sunworld Vanalika project located in Sector 107. These apartments are of 1405 sq ft to 3400 sq ft. Possession for these units will be given in December 2013, says Dev Chauhan, senior manager, marketing and sales, United Estatemart Pvt Ltd. But how does one go about choosing a builder when the best builder in Noida may be offering a 1000 sq ft apartment at the rate of R6000 per sq ft while a seemingly new builder in the same area may be offering a 1350 sq ft unit for R5500 per sq ft? Satinder Agrahari of Go Realty Mart recommends that buyers ought to carry out a background check of the builder.