Noida Extension part of Greater
Noida (part of the state of Uttar Pradesh) has come under the realty radar. The
four sectors which comprise of the Noida Extension are governed by the Greater
Noida Development Authority. This area was essentially dedicated to affordable
homes but things are starting to change now. Noida Extension will be
transformed into a new residential hub in the National Capital Region. Several
new projects are launched in the area getting a good response from residents in
and around Noida Extension. The Dadri Main Road connecting Noida Extension
provides better connectivity along with the upcoming expansion of the metro in
the National Capital Region. The area is mostly occupied by small scale and
medium scale industries. In terms of social infrastructure, the area has a good
stronghold with a number of entertainment avenues.
In the year 2011 we saw 2.5 lakh
homes launched here out of which 1.5 lakh homes were bought in the pre
constructions stage itself. The construction work came to an abrupt halt with
the farmer protesting on land acquisition issues. However this has been
resolved now. Property in Noida Extension turned out to be a good investment
option after all.
“The housing demand in Noida
Extension is going to be very high after National Capital Region Planning Board
(NCRPB) approval, while supply is very weak. Prices are bound to increase
because of various factors such as hike in compensation to farmers and rising
input cost. Prices were Rs. 2,100-2,200 a sq ft in this region last year. Now
we expect the same to go up to about Rs. 2,600 per sq. ft. “Amrapali Chairman,
Anil Sharma told PTI.
However if you look at flats for
sale in Noida, they do not fall under the affordable housing bracket anymore.
With the increase in land acquisition cost and construction cost including cost
of raw material in the recent past, builders are struggling to deliver the
dream of affordable housing to the common man. "We were selling homes at
Rs. 2,300 per sq ft in May last year when farmers protest started on land
acquisition issue. Now, we will launch projects at Rs. 3,200 per sq ft in Noida
Extension," R K Arora said, Chairman Supertech said to NDTV Profit.
"This area has been
considered as region of affordable homes. Lot of burden has to be borne by the
developers. So there will be little bit of price increase," JLL India CEO
(Operations) Santosh Kumar said to NDTV Profit. With the steady increase in
demand, prices of property in Noida Extension are said to go up. This will
further affect the current
scenario including the purchasing power of an individual.
Today Noida Extension is planned
by the development authorities in such a manner that it has become a haven for
urban dweller. The prices are still comparatively lower compared to the rest of
the National Capital Region. Following the PPP Model – Public Private
Partnership, the development authorities need to chart out future
infrastructure developments here.
Visit here some more projects in Noida Samridhi
Grand Avenue | Prabhuprem
GenNex City | Truvae Fragrance
| Morpheus Pratiksha
|
