De­mand out­strips sup­ply

Though all projects launched in the af­ford­able cat­e­gory have been sold out, the good news is that you can tap the sec­ondary mar­ket units, which come at af­ford­able prices — start­ing from lakh to lakh

HT Estates - - Front Page - Jee­van Prakash Sharma

Is it pos­si­ble to buy some­thing de­cent in the R40 lakh price range in Delhi? Not very likely, but Noida’s real es­tate mar­ket will not dis­ap­point you. You may not get wide-rang­ing res­i­den­tial op­tions, but a small de­cent unit is cer­tainly within your reach if you are ready to shell out R35 lakh to 40 lakh.

Some such op­tions are avail­able in the 1 to 2BHK cat­e­gory in 3C’s Lo­tus Zing and Paras Sea­sons in Sec­tor 168; Jaypee Greens’ Aman in Sec­tor 151 and Kos­mos, Kingston Boule­vard, Kasa Isles, Klas­sic in sec­tors 128 to 134. Logix’s Blos­som Zest in Sec­tor 143 and Unitech’s Uni­homes phase 1 in Sec­tor 117 also have some great op­tions.

“Th­ese projects are spread in var­i­ous up­com­ing Noida sec­tors. The de­mand for stu­dio flats and smaller units is so high that al­most all such apart­ments have been sold. Just a few are avail­able in the

Rsec­ondary mar­ket. For in­stance, a 1 BHK flat in 470 sq ft area in Logix’s Blos­som Zest in Sec­tor 143 costs R22 lakh in a sec­ondary sale. Sim­i­larly, in Lo­tus Zing lo­cated in Sec­tor 168, a 1BHK in 575 sq ft area costs around R29 lakh in the re­sale mar­ket,” says Gau­rav Ti­wari from Re­li­able Homz.

Th­ese projects were launched just a cou­ple of years ago and their launch price were within R15 lakh to R20 lakh. They were all sold out within a few weeks of their launch be­cause they were in the af­ford­able range.

Even 2BHK flats in 750 sq ft to 850 sq ft area are in great de­mand be­cause they are in the af­ford­able range of be­low R40 lakh. For in­stance, a 2BHK in Jaypee Aman in Sec­tor 154 is avail­able in the sec­ondary mar­ket for R28 lakh to R30 lakh, Ti­wari adds.

Prop­erty ex­perts say that since th­ese up­com­ing projects of­fer ex­cel­lent ameni­ties and ser­vices such as green sur­round­ings, power backup, great lo­ca­tions, lat­est se­cu­rity sys­tems and des­ig­nated park­ing space, among other things, they are sell­ing like hot cakes.

“Noida in the past few years has been emerg­ing as a planned, in­te­grated and a mod­ern in­dus­trial city that is well-con­nected to Delhi. It is also one of the largest planned town­ships of Asia. That’s the main rea­son why buy­ers from all price cat­e­gories are at­tracted to this city,” says Raj Sharma from Best Prop­erty Deal, a real es­tate con­sul­tancy firm.

“For those in­ter­ested in in­vest­ing in real es­tate as well as end-users, pri­vate de­vel­op­ers’ projects of­fer sev­eral good fea­tures, out- stand­ing fa­cil­i­ties and lo­ca­tions. Noth­ing, how­ever, is avail­able in the R40 lakh price range in the ready-to-movein-cat­e­gory as they all are un­der con­struc­tion. Pos­ses­sion will take two to three years and the apart­ments are likely to give very hand­some re­turns when com­pleted and handed over,” Sharma adds.

Many real es­tate ex­perts are of the view that in an­other few years the real es­tate mar­ket in Noida will wit­ness a huge num­ber of ready-to­move-in flats and due to this “the pos­si­bil­ity of steep price rise is quite dim. The mar­ket will ap­pre­ci­ate quite slowly and steadily. For ex­am­ple, for the last six months, there hasn’t been any sig­nif­i­cant move­ment in the prop­erty prices. So one can wait and take time to take a de­ci­sion on in­vest­ing here,” says real es­tate bro­ker.

In the ready-to-move-in cat­e­gory, Noida Au­thor­ity’s 1 BHK LIG flats mea­sur­ing 550 to 750 square feet in sec­tors such as 55, 71, 73, 82, 99 and 135 are avail­able in the sec­ondary mar­ket for R5200 to R7000 per sq ft.

“If we cal­cu­late the pur­chase cost, in­clud­ing regis­tra­tion and trans­fer, th­ese flats will cost any­where be­tween R34 lakh to R40 lakh, de­pend­ing on the num­ber of floors and their lo­ca­tion. This is the best you will get for a small bud­get,” says S C Ma­lik, a lo­cal bro­ker from Rad­hey Kr­ishna Real Es­tate and De­vel­op­ers.

He adds, “One good thing about th­ese LIG flats is that in many sec­tors they are lo­cated in the same com­plex as other high-end properties such as HIG flats and du­plex houses. Thus, they share many fa­cil­i­ties such as shop­ping com­plexes, parks etc. Be­sides, they are quite well­ven­ti­lated as there are bal­conies on both sides. Many home own­ers have cov­ered the bal­cony area and con­verted it into an­other room.”

Lo­cal bro­kers say that th­ese LIG flats have wit­nessed a good price es­ca­la­tion in last few years.

Jaypee’s Kos­mos, 3C’s Lo­tus Zing and Paras Sea­sons in Sec­tor 168 of­fer 1 to 2BHK op­tions within the range of lakh to

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