Stick to the plot

Ya­muna Ex­press­way is per­haps the only real es­tate des­ti­na­tion in the NCR that of­fers res­i­den­tial plots at an af­ford­able price range

HT Estates - - NEWS - Jee­van Prakash Sharma

HIN­DUS­TAN TIMES, NEW DELHI, SATUR­DAY AU­GUST 03, 2013

While the real es­tate mar­kets of Noida, Greater Noida, Ghazi­abad, Gur­gaon and Farid­abad are be­yond the reach of home­buy­ers, es­pe­cially those in the low and mid­dle in­come groups, Ya­muna Ex­press­way is emerg­ing as the only real es­tate des­ti­na­tion in the NCR that of­fers res­i­den­tial plots at an af­ford­able price range of R14,000 per sq yard to R32,400 per sq yard. Though there are many projects com­pris­ing apart­ments, plots and vil­las in the area, it is the plots cat­e­gory that has emerged as the most pop­u­lar realty prod­uct com­pared to apart­ments.

Real es­tate play­ers in this re­gion such as Jaypee, 3C, Or­ris, SDS, Sun­world, Su­pertech etc are of­fer­ing plots in sizes rang­ing be­tween 153 square yard and 550 sq yard. Th­ese are lo­cated in var­i­ous sec­tors along the Ya­muna Ex­press­way. For in­stance, Jaypee’s Sports City, which is spread across 1000 hectares, of­fers six projects for in­de­pen­dent plots at prom­i­nent lo­ca­tions. They are Coun­try Homes, Coun­try Homes

II, Sun­ny­vale Homes, Green­crest Homes, Ya­muna Vi­har and Krowns. The cur­rent price range of th­ese plots is in the range of R27,200 per sq yd to 32,400 per sq yd. The de­vel­oper claims that most of the plots of 153 sq yd size are com­pletely sold out.

Says Vidya Basarkod, sales and marketing, Jaypee Greens, “We have had a good re­sponse to dif­fer­ent projects of res­i­den­tial plots at Jaypee Greens Sports City. We have launched quite a few projects start­ing from Coun­try Homes I and II to Sun­ny­vale Homes. The de­mand for th­ese plots has been good and we have seen an ever in­creas­ing rate for the dif­fer­ent projects, and to­day most of our plots are sold out, bar­ring Sun­ny­vale Homes, which is a new project.”

Prop­erty con­sul­tants say that in the last few years, plot prices have ap­pre­ci­ated and in­vestors have earned good pre­mi­ums. “Two-and-ahalf-years ago, Su­pertech launched Golf Coun­try and Up­coun­try in which the de­vel­oper sold plots at R14,000 per sq yd. The cur­rent price is R20,000 per sq yd. Projects in Sports City have also wit­nessed a sig­nif­i­cant price ap­pre­ci­a­tion. Plots in Jaypee’s Coun­try Home I and II, which started three years back at a price point of R15,000 per sq yard, are now sell­ing be­tween R26,000 to R30,000,” says John Thomas, as­so­ciate direc­tor, Re­al­is­tic Real­tors, a prop­erty con­sult­ing firm.

“It is cer­tain that the plots have good ap­pre­ci­a­tion prospects in this re­gion since prices are still quite rea­son­able keep­ing in mind the in­fra­struc­ture de­vel­op­ments and other at­trac­tions planned in this re­gion,” adds Thomas.

Be­sides pri­vate builders, Ya­muna Ex­press­way In­dus­trial De­vel­op­ment Au­thor­ity has also launched schemes for res­i­den­tial plots. One such scheme was launched in 2009 when around 21,000 plots were al­lot­ted to home­buy­ers at R4750 per sq mt. “Now th­ese plots are sell­ing in the se­condary mar­ket at R12,000 per sq mt. In four years the prices have gone up by 300%,” says a plot owner.

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