Stu­dios and sec­ond homes are pop­u­lar for­mats

Prox­im­ity to uni­ver­si­ties and hope of big re­turns are push­ing in­vestors to pick up stu­dio apart­ments

HT Estates - - HTESTATES -

Van­dana Ram­nani

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.

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