A bud­get that fits one and all

Ac­cord­ing to real es­tate ex­perts, more than 80% un­der-con­struc­tion hous­ing projects fall in this price range in Noida, giv­ing a wide choice to home­buy­ers

HT Estates - - Front Page - Jee­van Prakash Sharma

The price band of R40 lakh to R60 lakh is the most im­por­tant one for de­vel­op­ers and home buy­ers in the mid-seg­ment res­i­den­tial mar­ket in Noida. More than 80% readyto-move-in and un­der-con­struc­tion projects of pri­vate de­vel­op­ers come in this cat­e­gory. Real es­tate de­vel­op­ers also launch the max­i­mum num­ber of units in this bracket be­cause they know it fits the bud­get of a large num­ber of buy­ers, both end-users and in­vestors.

Says Honey Katiyal, CEO, In­vestors’ Clinic, “There are very few op­tions in the ready-to-move in cat­e­gory in this price bracket. Lo­tus Boule­vard on the NoidaGreater Noida Ex­press­way, Am­ra­pali Plat­inum and Gaur Grandeur in Sec­tor 119 are some op­tions where peo­ple can get 2BHK flats for around R60 lakh.”

Other op­tions in the readyto-move-in cat­e­gory would be Noida Au­thor­ity’s MIG flats in both the old and new sec­tors.

“My ad­vice to home seek­ers would be to go in for MIG flats in Sec­tor 100, mea­sur­ing about 112 square me­tres, which costs some­where near R60 lakh. The Noida Au­thor­ity has given pos­ses­sion of th­ese new units just four months back. Res­i­den­tial op­tions are avail­able in the old sec­tors as well, in­clud­ing 37, 19, 25 and 29, but I don’t ad­vise buy­ers to go in for those as they are 20 to 25 years old and not worth the price they de­mand in the real es­tate mar­ket to­day,” says Ravi Me­hta, di­rec­tor, A to Z properties, a real es­tate bro­ker­age firm.

De­spite the limited choice, a wide range of apart­ments with promis­ing fea­tures and ameni­ties are avail­able in un­der-con­struc­tion projects in sev­eral up­com­ing sec­tors. Some of th­ese are Jaypee Wish­town, which has Kos­mos (Sec­tor 134), Kens­ing­ton Boule­vard (Sec­tor 131), Kasa Isles (Sec­tor 129); Am­ra­pali’s Sil­i­con City and Princely Es­tate (Sec­tor 76), Zodiac (Sec­tor 120), Plat­inum (Sec­tor 119); 3C’s Lo­tus Boule­vard and Lo­tus Panache; Para­mount’s Flo­rav­ille (Sec­tor 137) and Unitech’s Uni­homes, among oth­ers.

Sug­gests Katiyal, “The de­mand for this price bracket is huge for the sim­ple rea­son that it hits the bot­tom line when it comes to prop­erty prices. A cou­ple of years ago when th­ese projects were launched, there were more in­vestors and less end-users. Prices at that time ranged from R35 lakh to R40 lakh. To­day the sce­nario is just the op­po­site. In­vestors have made their prof­its and moved out and so most of the buy­ers in this bracket are now en­dusers.”

Real es­tate ex­perts say that the aver­age price for mid-seg­ment hous­ing in Noida is around R4,000 to R6,000 per sq ft and for lux­ury homes prices vary be­tween 12,000 to R15,000 per sq ft.

“A 2BHK in an area mea­sur­ing 900 sq ft to 1150 sq ft is avail­able in an un­der-con­struc­tion pro­ject in the price

Rrange of R45 lakh to R60 lakh. Th­ese projects of­fer ex­cel­lent ameni­ties such as 24/7 wa­ter sup­ply, proper park­ing, club, cos­m­mu­nity cen­tre, easy con­nec­tiv­ity to Delhi. Th­ese are pre­mium and mod­ern res­i­den­tial com­plexes and of­fer unique land­scap­ing, ar­chi­tec­ture and open green spa­ces,” says Gau­rav Ti­wari from Re­li­able Homz.

Though Noida Au­thor­ity apart­ments don’t have fa­cil­i­ties at par with pri­vate de­vel­op­ers, there’s no change in the size of the units. “In the Noida Au­thor­ity flats you don’t have power back-up, roundthe-clock wa­ter sup­ply, club and proper se­cu­rity,” says Rahul Chaud­hary, di­rec­tor, In­vestor's Smile Realty. How­ever, “If you buy a Noida Au­thor­ity flat with an area of 112 sq mt area, your car­pet area will be 6% to 8% less. Some de­vel­op­ers sell 1050 sq ft area but when they of­fer pos­ses­sion the car­pet area comes down to just 700 sq ft,” says Me­hta.

Jaypee’s Kos­mos, 3Cs Lo­tus Boule­vard lo­cated near the Noida-Greater Noida Ex­press­way and Am­ra­pali Plat­inum and Gaur Grandeur in Sec­tor 119 are some projects where one can get 2BHK flats in this bud­get

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