Noida Is Saturated
Those of you who are planning to purchase a flat in Noida must get your act together
and go for it now, as two-three years down the line, Noida may have exhausted all its land banks. Read on to know more about the issue
If you are planning to buy your dream house in Noida, don't delay your programme.Like Delhi,this fast developing sub-city is going to get saturated pretty soon.Believe it or not,after two-three years, entry here can be a very daunting task as the place would have exhausted its stock of land.
According to Noida's land bank report,the area has been stretched into 23,000 hectare of land. Out of 23,000 hectare,15,000 hectare has been planned for development. Out of this,almost 80% has already been completed. Realtors believe it is now time to move towards Greater Noida Extension as it is expected to have 54,000 hectare.
Another option for Noida is the Yamuna Authority, which is being developed over a lakh hectare of land. Now,real estate sector is all about the NCR region - high prices and nonavailability of space in Delhi has helped the developers in a big way. Expectedly,the dividends spilled over to the NCR, which was soon flooded with malls, multiplexes and townships. Good connectivity with Delhi and the increased demand for housing caused a rapid expansion of the NCR population.
It was not the developers alone who thronged places like Noida, Greater Noida, Ghaziabad, Gurgaon and Faridabad in search of good housing options - people, too, were at the forefront of the great expedition for that 'dream house' of theirs, as they made an exodus to the subcities.
Development activities are also being witnessed in other places like Sonipat,Baghpat, Bhiwadi, Manesar, D haruhera,and Meerut. All these regions give the buyer an ample scope to choose a region of his or her convenience.
One of the best choices that have come up in the NCR is Noida. This subcity is also catching up on the lifestyle front as authorities have planned development of the city - smooth traffic, flyovers, Metro line, parks, widening of roads,etc. The Noida authority has started widening the expressway roads, constructing bridges and flyovers, besides widening several internal as well peripheral roads. Sunil Jindal,CEO of SVP Group,says that today,among the important places to invest are Noida,Greater Noida and Ghaziabad. This stretch has been seeing a lot of development and investment potential. In Greater Noida,the authority has already sold more than 3,000 residential plots in Sectors 1,2,3 and 4 (Noida Extension). In addition,600 acre of land has been allotted to 12 builders.
In another phase, 800 acre of land will be allotted among 18 builders. Noida's sectors like Sectors 77,76 and 78,all near the Extension,are being developed at a very fast pace. Antriksh, Kanball, Prateek, Amrapali, AVS, Mahagun, Supertech,Nimbus,Sky tech are among the major developers who are all coming up with megahousing projects here.
According to Rakesh Yadav, MD of Antriksh Group, for any person who is looking out for an affordable house,this stretch promises a lot.Many developers are coming out with projects on this stretch to meet the burgeoning demand of the middle class. Because of its good connectivity and affordable rates, projects here are selling. Parsvnath, Landcraft,SVP Builders, Shreya Group, Ashiana, KLJ, and KDP Infrastructure are some of the developers present here. And the area's proximity to the Eastern Peripheral Expressway has lent it an added charm.
The October Commonwealth Games have also triggered a lot of action in infrastructure development,retail and hospitality sectors in and around Noida-Greater Noida.What sets Noida apart from other places is the availability of basic infrastructure in the vicinity.Adjoining areas of subcity like Kaushambi,Vaishali,Indirapuram and others are also witnessing a tremendous growth in the residential property market."If we want our people to move to the places near Delhi,we have to provide them with the connectivity,"says Mamta Chaubey,who works in an MNC - "Do that and no one will want to clog Delhi. See,people work in London but they stay in the countryside,because they have been provided with good infrastructure and connectivity.The Metro line is doing a lot of good to Noida.
Greater Noida is hailed as a hot destination for real estate in the NCR. It is just half an hour drive from Delhi via the DND flyway and the six-lane expressway from Noida.Various educational institutes,hospitals,clubs,the Jayee golf course, wide roads, lush greenery and huge open spaces add to the demand of this place. Plots and apartments in many sectors are also available in the secondary market. No wonder millions of people are shifting their interest from the capital to the NCR, primarily Greater Noida.
Courtesy by : ET REALTY Dtd: July 23, 2010
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