Builders Of Noida Flats Worried As Gurgaon Circle Rates Slashed

Real estate India is facing a slowdown and looking at the falling sales figures recent the civic authorities of Gurgaon slashed circle rates in all segments by 15%. This news bought cheers to many prospective home buyers but the builders of property in Noida are not happy with the situation. Already due to present situation in real estate India there is no demand for Noida flats what’s worse the authorities had recently also increased the stamp duty hike. Builders of property in Greater Noida are now worried that now more people will be interested to buy property in Gurgaon than in Noida.

Noida was always a safe destination for all those who could not afford to buy property in Delhi and Gurgaon. But over the years the city has became known for delay in possession over Noida flats. Builders of property in Noida and property in Greater Noida are also notoriously famous for flouting rules and making building before getting all the approvals. Many Noida flats have not got occupancy certificate as the real estate builders have flouted several rules. A property was also demolished for flouting the rules.

Things have worsened for builders of property in Noida and property in Greater Noida as the feel that now the buyers would be more prompted to buy property in Gurgaon. They too are hoping that the state government will also take some action owing to the slump faced by the real estate India. Although the property rates will certainly affect the sales of Noida flats. The builders of property in Noida and property in Greater Noida must understand a simple fact that over the years the customers have lost the faith in them and this is one of the major reasons why people are now not investing in the city.

Many big builders have also opening flouted rules and state government regulation. Some builders have not offered the amenities that it had promised others have delayed the possession timeline. Builders must understand that even though the circle rates of Gurgaon have been slashed but still the city’s properties are very expensive to buy people are currently not buying property in Noida and property in Greater Noida as they feel they will cheated or their money will get stuck. The builders of Noida flats should maintain transparency and they should not fool the customers eventually when the customers trust is restored they will come back in the market.

Lower Land Conversion Rates Could Boost Noida Realty Market

Real estate Noida markets could witness a new found boost owing to a landmark development whereby land conversion rates have been brought down by the authorities. Demand for flats in Noida has not been all that high lately according to several India property reports and studies. However, developers can now take heart from the slashing of land conversion rates to around 10% from the previous high rate of 25%. This development might have the potential to boost demand for Noida flats and other properties according to several studies and reports on Indian real estate based on their locations. This guideline for reduction of conversion rates has been issued by the Noida Authority based on popular demand. A similar regulation has also been made operational in Delhi and this may have played a role in sparking this new development. Before this ruling, allottees possessing industrial and residential property had to pay a charge or impact fee to the Authority for converting the same into mixed land use developments. This fee worked out to a whopping 25% of the total cost difference between commercial rates or reserve prices of the locality in question and predominant industrial and residential sector costs. The approval of the reduction in conversion rates will now boost the conversion of industrial and residential properties into mixed use developments. This may give a fillip to developers and lead to the development of several mixed use projects that actually bring back healthier sales volumes and progress into the Noida market.

The impact fee will have to be paid in a lump sum though while charges for water supply and electricity will also prevail in specific cases as per the existing commercial rates. Mixed land use conversion will boost the creation of commercial spaces in residential and industrial spaces and vice versa. Banks and guest houses can also be integrated into residential projects while industrial plots can be used for integrating museums, automobile showrooms and art galleries among other commercial and retail projects. Convenience stores, ATMs, canteens and other social amenities can also be brought into residential developments more easily courtesy this lower rate.

Good Days are here to come for Noida Flats

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The buyers of Noida flats have now several reasons to cheer up and  buy their dream house in this city. Of late, there have been several developments that have come over as a blessing to the prospective buyers. Recently, the developers in the city had been doing a wily-nilly to get the buyers apprised of the status of the houses under construction. The buyers who had got tired of the repeated reluctance of these developers, have now got a reason to smile. As per the order of Yamuna Expressway Authority, these developers shall need to upload the construction status on their official websites. With this, the users won't need to step out of their houses and knock the door of their builders to fetch the information.

A number of new projects have been launched of late. Victory Infratech has come up with 3 and 4 BHK Noida apartments. These shall be the luxury houses, interlaced with all the mod cons of an avant-grade lifestyle. Tucked amidst greenery, these apartments shall come in sizes more than 1400 sq. ft. Another developer that is making waves by its low-cost Noida flats is Gaursons. It is all geared up to launch plush studio apartments and that too at reasonable rates. These flats shall sprung near DND Flyway and shall have excellent connectivity to Greater Noida Expressway. ATS group is coming up with top-class apartments at Yamuna Expressway. These houses too shall have the connectivity advantage. These shall be 2 BHK apartments in two sizes: 1150 sq. ft and 1350 sq. ft.

Several other builders too are coming with new projects in Noida. Real estate Noida, in the coming future, shall see some of the high-rise structures, laced with all the modern amenities.

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Noida real estate: Sector 121 and 121 an ideal destination for living

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If you have decided to buy a property in Noida and unable to make a decision related to location then it is worth considering real estate in sector 127 and sector 121. With the expansion of the city and new infrastructure it is projected that Noida property will shoot up in the coming years. Moreover, these sectors already got a social infrastructure.

Noida is a beautiful city with lush green parks and world-class residential unit, and excellently connected to Greater Noida, Ghaziabad and Delhi.

Now, property Noida is considered to be the most lucrative compared to other NCR regions. It is well connectivity with Delhi and commercialisation has made it a highly preferred investment destination. The Metro rail link is connected to the Noida City Centre making it convenient for public to reach prominent destinations of Delhi. Moreover, the road connectivity to sector 121 and sector 127 is the single advantage and expansion of Metro rail is in the pipeline.

Besides the industrial locations, there are primary and secondary schools in and around these localities. So, many experts believe that the sort of infrastructure these sectors offer it has become a highly preferred destination for end-user.

With the rising prices of real estate in Noida, finding an affordable rental accommodation in the city in sectors such as 18, 19, 60 and 62 seems to be hard. But the sectors 119 and 120 are ideal to find rental accommodation as the rental values is low. Flats in Noida of 2 & 3BHK are available for no less than Rs 12,000-18,000 per month.

According to Noida realty market experts, one prime reason why owners offer flats Noida at low rental in sector 121 and 127is the over-supply.

Major realty majors are coming up with housing units in these sectors as earlier only a few offered ready-to-move-in units in these sectors.

The city has also witnessed an increase in the number of multinational companies opening their corporate offices. Because of the coming up of offices it has resulted in migration of skilled and unskilled workers. Moreover, the state government to make living more comfortable are planning wide roads, shopping centres and hospitals which as a result have increased the value of the property in Noida manifold.

Noida real estate excels in many features compared to Delhi and those are roads, metro, industries, planned townships and education.

Smart home buyers are taking help of realty websites to find flats in Noida at discounted rates and developers who are offering schemes for easy finance.