Af­ford­able and ideal op­tion for end-users

Prop­erty prices in Greater Noida West likely to re­main static at 4,000 per sq ft

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One should take a call to move to Greater Noida West only if one wants the prop­erty for one’s use and not as an in­vest­ment or some­thing that will yield cap­i­tal ap­pre­ci­a­tion, say realty ex­perts.

There is al­ready ex­cess sup­ply in the area with more units ex­pected to come up in the fu­ture. Prices in the area have al­ready run up to the op­ti­mum level, they say, adding that prices in the area will at best lan­guish at ₹ 4,000 per sq ft for at least 18 months.

“Rates will re­main static at ₹ 4,000 per sq m for the next 18-month pe­riod, some projects may com­mand a ₹ 100 per q ft to ₹ 200 per sq ft pre­mium as and when they are com­pleted. Projects with a great lo­ca­tion or dif­fer­en­ti­ated of­fer­ing may com­mand a ₹ 500 per sq ft pre­mium, but over­all the mar­ket has ex­hausted its po­ten­tial,” says Anckur Sri­vast­tava of GenReal Ad­vis­ers.

Prices in the area will con­tinue to hover at around ₹ 3,500 per sq ft and ₹ 4,000 per sq ft be­cause of the de­mand-sup­ply sit­u­a­tion, says Pawan Ja­suja of Fin­lace.

Most units in the area were sold at ₹ 1,800 per sq ft in 20092010 and the con­struc­tion qual­ity is just about ba­sic. Book­ings in the area were kept oh hold for nearly one-and-a-half-years after the land ac­qui­si­tion is­sue. When book­ings re­opened, the price band was ₹ 3,000 per sq ft. Cur­rently, cer­tain pock­ets and projects com­mand a price of ₹ 3,500 per sq ft but not more. Breach­ing the ₹ 4,000 per sq ft mark will be dif­fi­cult be­cause of

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