A hit among in­vestors

With pos­ses­sion of over 10,000 houses ex­pected in Noida this year, in­vestors are buy­ing units worth lakh to lakh to make a good profit

HT Estates - - NEWS - Van­dana Ram­nani

If you’re one of the lucky ones who bought an apart­ment two years ago along the Noida-Greater Noida Ex­press­way stretch for R40 lakh, the same piece of prop­erty is to­day likely to get you any­thing be­tween R60 lakh and R80 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.

Those 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 R80 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 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.

They should give pref­er­ence to those de­vel­op­ers who may have de­liv­ered a few projects in the past. In many cases, new builders may have worked as con­trac­tors with big builders ear­lier or have projects in Tier 2 or Tier 3 towns.

Paving the way: The USP of projects com­ing up along the Noida-Greater Noida Ex­press­way is the lo­ca­tion

Op­tions ga­lore: Those who in­tend buy­ing a house for end-use or in­vest­ment can choose from both the re­sale and the pri­mary mar­ket in this area

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