Greater Noida West fact sheet

HT Estates - - FRONT PAGE -

Nomenclature: Most projects in the area, ear­lier known as Noida Ex­ten­sion, were launched in 2009. The area was re­branded as Greater Noida West after the land ac­qui­si­tion is­sue was re­solved

The land fi­asco: The Noida Ex­ten­sion land ac­qui­si­tion im­broglio was all about the de­vel­op­ment author­ity ac­quir­ing land at low prices from farm­ers and al­lot­ting them to de­vel­op­ers and also changing the planned use pat­tern

Bone of con­tention: Home­buy­ers had bought apart­ments in the range of ₹ 1,800 to ₹ 2,000 way back in 2009 but had to worry about de­layed pos­ses­sion when con­struc­tion work was held up due to land ac­qui­si­tion issues

Res­o­lu­tion: In 2012 after a mas­sive fight put up by both builders and home­buy­ers, the NCR Plan­ning Board (NCRPB) gave its nod to the master plan in the area, clear­ing the way for re­sump­tion of con­struc­tion of hun­dreds of projects in the Greater Noida West area

Price trends: Most res­i­den­tial units are avail­able in the range of an af­ford­able ₹ 3,200 per sq ft to ₹ 3,500 per sq ft. Prices will not rise more than ₹ 4,000 per sq ft in the next 18 months due to the de­mand-sup­ply sit­u­a­tion and be­cause of new projects com­ing up in the area

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