Options galore for homebuyers
If your budget is over 50 lakh, Noida is the place you should explore
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.