Investing in Property at Noida’s Lesser Known Regions

Noida, an important market for residential housing in the NCR may be in the process of rapidly gaining back what many had thought it had conceded to others parts of the NCR. With over 500 new residential developments under construction, Noida may be on the verge of a construction boom which could help it leapfrog ahead and become the most desirable location for homebuyers and investors alike. 

Upcoming projects in Noida at parts of the city of like Sector 118 and Sector 134 may indicate a trend among builders in Noida to construct developments at localities in the city where land is relatively inexpensive today but where the value of the properties under construction today may appreciate in the future. Though such sectors today do not provide the necessary facilities to make living at such sectors easy they may likely do so in the future and some builders in Noida may be betting on this. 

At Sector 188 Noida, the price of property is yet to find a suitable market friendly level as over the past 2 years the price of property here has been highly volatile climbing near the 4,800 rupee per square foot mark only to recently fall below the 4,000 rupee mark. For buyers who do purchase property at these locations, at present living in these neighborhoods may prove to be very dull and uninteresting as there would be few others in the vicinity not to mention a lack of social infrastructure as well as lack of physical infrastructure. 

In the future however to own flats in Noida at such locations may envelope the current investor with a windfall of capital due to a rise in property prices at such locations. Currently the unit price for apartments at Sector 188 lies between 45 to 65 lakhs; quite within the budget of a novice real estate speculator and easily within reach of a more hardened investor. Over time such an investment may lead to earnings for an investor in the tens of lakhs of rupees if not more. 

To look at Sector 134 in Noida today may be one of the dullest activities you could do with your free time. Yet this locality has one or two developments on it which to a prudent investor may prove to be a good investment. The developments have been constructed by one of the top builders in Noida which also happens to be one of the nationally better known brands. With a large development consisting of hundreds of apartments (albeit in a locality that is as yet poorly acclimatized to house families), in the future its status as a development in a neighborhood which would have progressed to offer residents a finer lifestyle may bode well for it as an investment destination today. 

Only the very wealthy can afford to purchase property in most of the better established regions of the country. Today even many who have lived for generations in such better served localities are themselves unable to purchase any of the property that surrounds them. Hence investment in the future may require us to imagine investing in what is to come rather than what has already become known to all.

Real Estate in Noida : ‘What to’ and ‘Where’ to Buy

Noida was established in 1975 to fulfill the need for an integrated industrial township in the region around New Delhi.

Now more than 40 years later, Noida has easily surpassed the expectations of the men and women who mandated its creation. With a disproportionately high number of information technology companies present in Noida and the surrounding areas, Noida has often been quipped as the IT capital of the NCR.

The city has modern, futuristic IT parks, employing thousands of workers in addition to residential property which at first glance you could be mistaken to think were in Miami or the best parts of Los Angeles.

All this seemingly makes Noida a great place to live and work. Let’s look under the hood and try to understand how attractive it really is to own property in Noida.

Let’s look at one particular sector widely considered among the poshest in the city. Sector 93A, is the location of one of the most luxurious apartments in Noida with many great schools in the vicinity. On average property prices here have appreciated by less than 1000 Rupees per square foot over the past 8 years and have declined by 8 % over the past 6 months. Residential property in Noida, it seems may not necessarily be as attractive as many of us may believe.

When flats in Noida, at on of the most highly sought after and admired neighborhoods in the city exhibit such poor performance what does that say about the rest of the city?

Many of the top new projects in Noida at locations like Sector 121, 134 and 119 have shown extraordinary appreciation with one or two residential projects double the price it was 6 years ago. Though most of these new projects in Noida still cost significantly less than a crore, an astute investor could have doubled his portfolio had he the prescience to invest here a little more than half a decade ago.

To take another example, luxury apartments in Noida which cost over 1 crore, located at sector 78 have also greatly appreciated with one project by Mahagun appreciating over 150% since 2010. Clearly property in Noida is still vibrant with many takers flocking to buy flats in Noida.

How do we reconcile these contrary facts? Numbers don’t lie; they are not beholden to emotions or fits and they don’t take sides. One reason may simply be that demand for luxury apartments in Noida is tapering, with fewer buyers willing to purchase at upmarket locations like Sector 93A and others who still see property in Noida well priced for middle income home buyers.

Possibly another more accurate reason pertains to the opaqueness of real estate transactions. In mature developed sectors there may be a substantial transfer of black money between the parties involved resulting in the sales price publicly announced to be lower than the money actually exchanged between the parties involved.

In upcoming projects in Noida in newer neighborhoods; the large volume of buying and selling activity by enhanced number of first time home buyers and sellers, purchasing and selling homes paid for by bank loans which lead to greater transparency and foresight of real estate prices may be driving up prices, though not necessarily perniciously.

Noida the Real estate Hotbed of NCR

There are literally tens of real estate companies in Noida, yet not all real estate companies are created equal and this credo applies even more strongly when one has to make what will probably be the biggest investment of our life. Real estate companies building and selling flats in Noida are abundant yet there is a vast difference in the value for money they are offering to the buyer.

Home buyers seeking residential property in Noida may often commit themselves to a brand based on the heavy marketing campaign carried out by the real estate developer. As the recent example of Amarpali Group has shown us, potential homebuyers are often succumbing to slick advertising campaigns with celebrities endorsing a particular real estate company. The companies Sapphire complex has yet to be completed despite a 2 year delay. The Sapphire Complex had been launched by Amarpali in 2009 and buyers were promised that houses would be handed over in 2011.  Residents who now live in Sapphire complain of nonfunctioning elevators, fires and poor parking facility. Just goes to show, the slick brochures and big brand ambassadors may not necessarily mean the developer in question is one of the best real estate developers in Noida.

So how does one go about looking quality flats in Noida before deciding on the one?  One useful way to go about doing this is using the internet, there are companies out there that can help you live in your dream house. Among the top 10 property websites in Noida which may help home buyers buy a flat in Noida Magicbricks.com, and a recent startup know as PropChill.com stand out.

Not all of us are first time homebuyers but are instead seeking to buy a second or even third home either for a family member or as an investment. We may already have a home in the NCR region but luckily have some extra money which we want to invest hoping that the property will appreciate and we make a handsome return on our investment. Whatever the reason for a second or third home the most important criterion for all remains the same as that for our first home, where we buy the home. Although there are many new projects in Noida when it comes to finding a great location to own a second home you will almost certainly want to consider residential property in Greater Noida.

No matter what size of corpus you have to invest, residential property in Greater Noida offers a great selection of flats starting from only 41 Lakhs for a 1700 square 4 BHK flat up to 1.3 crore for a 2800 square foot  4 BHK.

The choice is yours, you are the buyer and though there has never been a better time to buy property in Noida one still needs to work hard and do his or her due diligence. Once you have taken the right steps and acted wisely owning that dream home or second investment home may be a piece of cake.