Oh, for a home on the beach

Bro­kers in the Ya­muna Ex­press­way area say it’s pri­mar­ily a sec­ond homes mar­ket

HT Estates - - Front Page - Van­dana Ram­nani

HIN­DUS­TAN TIMES, NEW DELHI, SATUR­DAY AU­GUST 03, 2013

Won­der­ing who all have been bit­ten by the Ya­muna Ex­press­way bug? Th­ese are pri­mar­ily in­vestors want­ing to make a fast buck and those wish­ing to have a sec­ond home not far from the Cap­i­tal. This in­cludes peo­ple not only from Delhi but also from nearby towns such as Ali­garh, Mathura etc.

Ac­cord­ing to Kar­ishma Handa of 3A World, it is the best el­e­vated ex­press­way link­ing NCR and other parts of UP. Most busi­ness­men in ar­eas such as Ali­garh and Mathura have links with NCR and Ya­muna Ex­press­way area is a cen­tral point for them. It is a fu­tur­is­tic in­vest­ment des­ti­na­tion with a three to five-time po­ten­tial for ap­pre­ci­a­tion in the years to come. Those who can­not af­ford to buy prop­erty along the Noida-Greater Noida Ex­press­way can think of in­vest­ing here as prices are still within reach, Handa adds.

Satyen­dra of Realty Mart says that those who bought apart­ments for R1800 per sq ft in the area a few years ago are to­day sit­ting on a price band of R3500 per sq ft. Plots that were avail­able for R18,000 per sq ft ear­lier are now sell­ing at R350,00 per sq ft.

The ad­vice from Vipul Gupta of Neo­brix is that if you are will­ing to stay in­vested for long, Ya­muna Ex­press­way is the right place to in­vest. Prices in the area too are rea­sonale and start at R22 lakh for a 2BHK apart­ment. Those in­vest­ing in the area are do­ing so for sec­ond homes. Many who have in­vested are from towns in western and eastern UP who may have put in money hop­ing their chil­dren will study in the NCR some day.

If one were to com­pare Greater Noida with Ya­muna Ex­press­way, one should re­mem­ber that both are dif­fer­ent. Units in Greater Noida were al­ways planned to be big – 1600 sq ft and above while in Noida Ex­ten­sion and Ya­muna Ex­press­way, all vari­ants are avail­able. Also, the prob­lem with Greater Noida - planned as an ed­u­ca­tion hub - was that both Noida Ex­ten­sion and Noida Ex­press­way were de­vel­oped at a time when Greater Noida was com­ing up. Ya­muna Ex­press­way has, on the other hand, de­vel­oped at a time when th­ese mar­kets have been ex­hausted.

K K Se­tia of In­Town, how­ever, points out that Ya­muna Ex­press­way is a pre­ma­ture baby and a long-term in­vest­ment. Cur­rently prices of projects com­ing up along the NH24 and Ya­muna Ex­press­way are al­most sim­i­lar. Since NH24 is a much-de­vel­oped belt and a short-term in­vest­ment des­ti­na­tion, it may make sense for those want­ing to move in im­me­di­ately or in a few months.

Pawan Ja­suja of Fin­lace says that the area is a deadly com­bi­na­tion of world-class in­fra­struc­ture, a Night Sa­fari, an Ed­u­ca­tion City and prices are per­haps the low­est in the NCR. “Projects in Bhi­wadi to­day are trad­ing at R3000 per sq ft.”

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