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
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.