Better management need of the hour
Located in the heart of Noida, sectors 25 and 26 are counted among the posh localities of the city. One of the well-known areas of Noida, Jalvayu Vihar, straddles sectors 21 and 25. One of the oldest sectors in the city, it was built by the Air Force Naval Housing Board during the early ’ 80s and’ 90s for retired Air Force and Navy personnel. The society is registered under the name of Jalvayu Sehkari Awas Samiti.
Sector 25 consists of plots of sizes ranging from 112 m to 540 m and is divided into different types of apartment categories. Type 1, Type 2 and Type 3B are part of the area initially allotted to junior defence and were of sizes ranging from 590 sq ft to 940 sq ft.
The officers’ area hosts type 3A, type 4, type 5, type 6, duplex a, duplex b, duplex c flats with plot areas ranging from 1060 sq ft to 1720 sq ft. Each apartment has a car parking of 220-250 sq ft each.
Despite being located close to the DND Flyway, several hospitals, schools and marketplaces, residents of Sector 25 are not a happy lot. “The large size of the society makes it unmanageable. As a result, residents face issues like lack of security, frequent thefts and dog bites,” says Commodore (Retd) Surya Prakash, former chairman of Jalvayu Vihar Awas Samiti.
Almost 70% of the flats in the area are now occupied by non-Air Force and Navy personnel, who are not members of the society.
“We have been planning to divide the Jalvayu Vihar into 15 blocks, each block with its own management committee as it is difficult to manage the whole block through one head. The Commissioner of the Housing Board, based in Lucknow, has been delaying the approval of the proposal for three years now. We had written to him in October 2011 asking him to convert this society into a Resident Welfare Association ( RWA),” says Commodore Prakash. Converting this society will make this area more manageable and hence a better place to live, he adds.
Going by the latest circle rates, the current land valuation is ₹ 50,000 per sq m but capital rates have appreciat e d by over 1 0 0 % i n t he past f ive years. According to Commodore Prakash, the price of his apartment in 1994 was about ₹ 4 lakh. Now, it has escalated to nearly ₹ 1.2 crore. The average rentals in Sector 25 range from ₹ 12,000 for a 1BHK to ₹ 35,000 for a 3BHK.
One can buy a 1BHK for ₹ 45 to ₹ 50 lakh, a 2BHK for ₹ 55 lakh to ₹ 65 lakh and a 3BHK for ₹ 2 crore to ₹ 2.5 crore in Sector 25, Noida. These apartments come with wooden interior fittings, fans and lampshades.
Sector 26 comprises mostly of kothis and has some MIG flats in Block B and D respectively, with plot sizes of 112 sq m. The cost of these single storey units range from ₹ 85 lakh and ₹ 90 lakh.
However, given the excellent location and connectivity, the demand for property is very high in the region. Bhuvnesh Janardhan, a property dealer operating in the area, says “sectors 25 and 26 are old sectors and fully developed. So, the demand is always greater than supply here.”
Many residents i n t hese areas, especially i n Sector 26, have had private developers reconstruct their plots. However, t hey can sell t he whole property to j ust one single buyer.
Some residents here are demanding that, l ike other areas in the city, they want freehold properties instead of leasehold ones as the move will help them save the extra amount they pay every time the lease is transferred. These sectors are close to three big malls in Noida – the Spice Mall, The Great India Place and SAB Mall. Block J in Sector 25 boasts of a badminton court, tennis court and a squash court.