Getting set for delivery dates
Developers are hoping to hand over more than 3000 units in Noida Extension starting from December this year
Developers active in Noida Extension area are optimistic that the land acquisition issue that plagued the area for over a year is now a thing of the past and are hoping to start handing over residential units to buyers from December this year.
Manoj Gaur, managing director, Gaursons, says that the group has launched 10,000 units in the first phase and will deliver 2500 flats in March, June and September 2014. About 25000 units have been planned as part of Gaur City 1 and Gaur City 2. About the government proposal to increase FAR (floor area ratio), Gaur says that no new storeys will be added in the existing structures. The Existing blocks are 15 to 20 storeys high and the number could be increased if extendable FAR is granted, he adds.
The Supertech Group has about 110 acres here. Eco Village-1 covers 50 acres. Eco Village-2 is spread across 40 acres and Eco Village-3 spans 20 acres. “We are planning to give possession of about 500 units in Eco Village-1, 300 units in Eco Village-2 and 200 units in Eco Village-3 by the end of this year. Possession will be in a phased manner,” says R K Arora, CMD, Supertech Group.
The Mahagun Group has a huge project in Noida Extension called My Woods, which is spread across 30 acres. Around 4500 units and all three phases have been launched. A 2BHK of size 930 sq ft to 1000 sq ft will cost approximately R35 lakh and a 3BHK of size 1520 and 1500 sq ft will cost around R60 lakh. A 4BHK unit of sizes between 1800 to 2200 sq ft will cost R80 lakh. There are around 23 to 25 towers in the project. “We will construct additional/new towers only in phase 3 and have already made a provision for that. No old towers will be touched. We will hand over around 3000 flats by the end of 2016. Delivery will take place in a phased manner,” says Dheeraj Jain, MD, Mahagun Group.
The Paramount Group’s project, called Paramount Emotions, which covers 46,000 sq mt, will have 19 towers and 1380 units. The group’s ED Ashwini Prakash, says a 2BHK under the flexi plan will cost R3125 per sq ft ( R35 lakh) and R3800 per sq ft under the super flexi plan (which means 37% cash down payment and the rest when taking possession). A 3BHK apartment plus study will cost R53 lakh under the flexi plan. The units will be handed over to the buyers after three-and-a-half years or four years from now.
As for why buyers should invest in Noida Extension, Prakash is of the opinion that the area has a unique locational advantage as it is well-connected to Ghaziabad, Noida and is the gateway to Greater Noida.
The other projects here belong to the Ajnara Group. Ajnara Homes is spread across 12 acres and Le Garden is spread over 18 acres. The group, which has launched about 3000 units in the area, is offering options in the 2BHK, 3BHK and 4BHK categories between R35 lakh to R70 lakh. “We will deliver about 800 units starting from the end of 2015. We are at the moment facing a money, material and manpower crunch. All these factors play a major role in determining whether the project will be delivered on time,” says Vineet Gupta, directorof the group.
The Shubhkamna Advert Group has three projects in the area - Shubhkamna City, Shubhkamna Monarch and Shubhkamna Epic, covering about 21 acres. On offer are 2BHK apartments of size 1000 to 1500 sq ft, for about R30 to R40 lakh. A 4BHK plus servant quarters of 2000 sq ft will be priced in the range of R65 to R70 lakh. There are a total of six flats on one floor.
Divakar Sharma, director, Shubhkamna Advert Group, says that the area is probably the best in terms of planning and will emerge as a world class city because of the infrastructure it offers. Also, accessibility to the area is great, he adds.
The Shri Group is constructing 19 towers of ground plus 19 floors across 17 acres in its project called Shri Radha Sky Gardens. Amit Handa, ED, Shri Group says that 14 acres have already been launched.
Arihant Infra Realtors Pvt Ltd has a 10-acre corner plot in the area. The group is constructing 10 towers of which 10-11 floors have already been constructed. These will be 19-storey buildings. It has plans to construct a total of 14 towers. A subvention scheme is also being offered to buyers, which means they will not have to pay any EMI till March 2015 and give only 20% upfront. “We are yet to launch three more towers and that might happen next month. We have launched a total of 1500 units till now,” says Kaushal Jain, MD, Arihant Infra Realtors Pvt Ltd, adding infrastructure has already been developed in the area, which is connected to NH24. Also, a bridge is proposed to be constructed between Sector 79 in Noida and Sector 1 of Greater Noida. The projects falls in Sector 1. We are hoping that this will be constructed in a year or two, Jain adds.
Sunil Mittal of Addela Group says that his project is part of the Gaur City township. The group has already launched nine towers but has plans to launch a total of 15 towers in the area. The USP of the project is that it is located on a plot that is open on three sides and that there are only four 2BHk units per floor. The group is constructing 850 units in the area. The 2BHK units are priced at around R40 lakh and the size is 1080 sq ft, a 3BHK and a study is of size 1389 sq ft and costs R52 lakh while a 3 BHK unit of size 1340 sq ft costs R45 to R48 lakh. .