Op­tions ga­lore for home­buy­ers

If your bud­get is over 50 lakh, Noida is the place you should ex­plore

HT Estates - - FRONT PAGE - HT Es­tates Cor­re­spon­dent

Over 10,000 units are ex­pected to be de­liv­ered along the NoidaGreater Noida Ex­press­way by the end of this year, say bro­kers ac­tive in the area, adding that once builders re­ceive the com­ple­tion cer­tifi­cates from the author­i­ties, pos­ses­sion will be­gin.

The Na­tional Board of Wildlife (NBWL) cleared a pro­posal to no­tify cer­tain ar­eas around the Okhla Bird Sanc­tu­ary in Noida as an ecosen­si­tive zone (ESZ) re­cently, end­ing the sus­pense over the sta­tus of thou­sands of on­go­ing con­struc­tion projects that lie out­side those ar­eas.

Most projects in the area are avail­able in the range of 4,000 per sq ft to 9,000. Real es­tate agents say that those who bought houses in this area for in­vest­ment are not likely to want to go in for reg­is­tra­tion be­cause that may en­tail a cost of around 2.5 lakh. If an end-user were to buy a prop­erty that is al­ready reg­is­tered, he may have to pay around 4.5 lakh for trans­fer and reg­is­tra­tion.

Also, if it is an in­ter­nal trans­fer (be­tween the first buyer, sec­ond buyer and the devel­oper) and the prop­erty is not reg­is­tered with the au­thor­ity, the cost is barely 25,000. While some fam­i­lies have al­ready moved in, one will see a lot of fam­i­lies mov­ing into the new projects in the area just be­fore schools be­gin in April next year, says Za­far Khan of Ace Prop­mart, a bro­ker ac­tive in the area.

“We welcome this pos­i­tive de­vel­op­ment which has in­deed come as a re­lief to all con­cerned. We would now be in a po­si­tion to hand over more than 4,000 apart­ments in the next six months to buy­ers and have al­ready ini­ti­ated the nec­es­sary steps to make it hap­pen,” says Vidya Basarkod, pres­i­dent (sales and mar­ket­ing), Jaypee In­frat­ech Lim­ited.

Pra­teek Group has ap­plied for a com­ple­tion cer­tifi­cate with the au­thor­ity and af­ter re­ceiv­ing it will seek per­mis­sion for reg­is­tra­tion from the Noida Au­thor­ity. “Once that is handed to us, we will be­gin reg­is­tra­tion and pos­ses­sion will be handed over to buy­ers,” says Prashant Ti­wari, chair­man Pra­teek Group, adding that 2,300 houses will be de­liv­ered by end of this year.

“The no-dues cer­tifi­cate is al­ready with us for both the projects,” he says.

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