Noida Extension - Excellent Destination For Affordable Housing Property
Affordable housing that has all modern-day facilities is commonly a dream for the massive base of mid income group home consumers in NCR and Delhi
. This dream is presently be a reality with several housing projects set to resume construction in Noida Extension post the land row issue, that had hit the neighborhood one year past.
More usually than not, consumers probing for reasonable residential choices need to either compromise with the locality of the housing development or on the amenities available. However, the prevailing costs for all the key housing property in Noida Extension tells totally different story. These property are being architect by illustrious developers like Amrapali, Supertech, Ajnara, Gaursons Promoters among others and provide state-of-the-art amenities. Nearly 2.5 to 3 Lakh homes are expected to be delivered in the next three to four years in this neighborhood.
In spite of 40-50 % hike in values in last one year, the costs have still remained within the reasonable limits. The prevailing values for property in Noida Extension vary between Rs 2200 to 3300 per sq ft. As compared the prevailing residential values for apartments varies somewhere between Rs 4000 to 11000 per sq ft and Rs 3400 to 10000 per sq ft in Gurgaon and Noida. Whereas the costs in Faridabad is also cherish those prevailing in Noida Extension, the latter scores on account of higher and excellent infrastructure, presence of distinguished builders and connectivity. Therefore the neighborhood, as compared to different NCR regions, offers a perfect combination of reasonable costs and excellent amenities.
They are providing reasonable residential projects in noida extension line of work to customer from the PSU sector and mid - income segments, as stated by the MD of Gaursons Promoters Mr. Manoj Bibos Gaurus.
One major reason for this inequality in costs is that the different FSI values prevailing across the National Capital Regions. As an example, Noida, where the residential realty norms are ruled by the Noida Authority, could be a fine example of real estate success because of increased FSI values. The projects in noida extension has conjointly benefited because of higher FSI values as compared to Faridabad and Gurgaon.
As per HUDA the FAR in Faridabad and Gurgaon is 1.75 as compared to 2.75 in Noida. This works in favour of Noida Extension. In the same space a developer can construct a lot of variety of flats in Noida as compared to Gurgaon, as said by Director of Supertech Group Mr. Mohit Arora. This enables developers in Noida Extension to provide residences at a lower costs.
For instance the costs in Dwarka Expressway, one in every of the foremost asked for realty destinations in Gurgaon, ranges between Rs 5000 to 7000 per sq ft. This immense inequality in costs between Noida Extension and Gurgaon would result in rise of end users within the later, whereas the previous would stay a favorite for the investors, stated by CEO Residential, Mr. Om Ahuja, Jones Lang LaSalle.
Associate Director of Assotech Real Estate, Mr. Salil Kumar corroborates, The greater FAR values in Noida region proving to be a new boon for Noida Extension. Moreover, as per a unfinished proclamation, which is in place after the final approvals are received concerning the land row issue in Noida Extension, there's a proposal to extend the FAR to 5.1 within the vicinity. Further, an increased purchase of .75 FAR is granted in Noida creating it alot possible for developers to construct reasonable homes.
A higher FSI wouldn't essentially translate into reasonable housing, because the density per acre norms ought to be relaxed also. This can be a lot relaxed in Noida with the density per acre being 1600 per acre as compared to three hundred per acre in Faridabad and Gurgaon.
by: Jitendra Kumar
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