Soothing surroundings.
A great place to hang out and an ideal destination to get settled. Noida
has emerged as a major destination. Noida has become a major destination for
house hunters since past few years. Noida & Greater Noida, along with
Yamuna Expressway and Noida Extension, = have affordable options for the middle
class buyers in the national capital region. Average home prices in these parts
are somewhat lesser than in Gurgaon, that is associated with high-end
apartments.
Here are five tips as you hunt Property in Noida
1. Plot VS
apartment: You can buy a plot for the price of an apartment along the Yamuna Expressway
that attaches Greater Noida with Agra. The world class expressway provides easy
access from Delhi. But, don't expect urgent capital appreciation as there is an
oversupply of plots in this area. Plots near the F1 track are better options.
2. Choosing a
developer: Projects that have been developed by a builder that is unknown or fresher,
are prone to execution delays. They will be comparably reasonable, but may
remain grounded forever. Samir Jasuja, chief executive officer of Prop Equity,
says buyers must everlastingly pay a limited premium however, go with a deserving
or branded developer who will ensure the execution of the project, yet, it may
still get delayed.
3. Plan
Specification: Small may not always be beautiful. As buildings become taller, huge
open spaces becomes crucial. Search a project that is adjoining a public park,
or has bigger common areas. There is going to be a little premium mid 25-acre
and a 50-acre project to start with, but time projects with finer amenities require
a bigger premium.
4. Absorption: Some
areas like the Yamuna Expressway and Noida Extension have bigger inventories
and absorption could go on to slow down. Homes in areas with low absorption
rate are cheap but are convenient only for long-term investors that have a time
frame of at least 5-10 years. You should invest in these properties only if you
are an end user with no plans to dispose of the property.
5. Geographical
factors: Noida and Great Noida have a high water table, unlike Gurgaon where
ground water is not available. Noida has better accessibility to Delhi than Gurgaon,
which depends on the Jaipur Highway. However, both Noida and Gurgaon fall in
seismic zone 4, where risk of earthquake is pretty steep.
We hope you will consider these quick tips before you plan
to get settled in this posh and well-developed location. It is a place which
will offer great returns in the upcoming future and prove to be a great deal.
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