Studios and second homes are popular formats
Proximity to universities and hope of big returns are pushing investors to pick up studio apartments
Studios are among the fastest moving products in Yamuna Expressway as they involve low investments and offer big returns
A product that is increasingly doing well in Yamuna Expressway is the studio apartment. Jaypee claims to have sold 3000 such units – the Buddh Circuit Studios 1 and II - in just about 90 days when it launched them.
Real estate experts say that this is primarily because this category involves low investments and big returns. While the value of a regular apartment doubles in more than five years, that of a studio apartment can double in three years. The buyers interested in studios come from Aligarh, Mathura, Khurja, Aligarh and Bulandshahr. Many of them want to pick up properties for their children who they hope will get admission in the universities close by. If an education hub, something similar to Pune, develops here, the studios will cater to the floating student population. Smaller housing units will always be attractive to teachers and employees of big corporate houses who do not have the wherewithal to invest in large-sized apartments, says a broker active in the area. Satyendra of Realty Mart says that almost 95% of those who have bought into studios in the area are investors.
Once the Night Safari opens or the FI returns, studios are also likely to be rented by visitors. Since these are small ticket size units, they will work well for families wanting to get away from the main city during the weekends. The studios that were launched two years ago at prime locations, about 5 km from Pari Chowk, for about ` 10 lakh, are now going for ` 24 lakh.
A weekend getaway
Brokers in t h e Ya m u n a Expressway area say it’s primarily a second homes market.
Who has been bitten by the Yamuna Expressway bug? They could be investors wanting to make a fast buck or those wanting a second home not far from the Capital. They could be peo- ple not only from Delhi but also from the nearby towns of Aligarh, Mathura etc.
Brokers say that the Yamuna Expressway i s an elevated expressway linking the NCR and other parts of UP. Most businessmen in areas such as Aligarh and Mathura have to commute to the 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.