Residential plots in Noida are becoming scarce fast as they are being lapped up for building residential flats in Noida that make good investment options.
Flats in Noida are nowadays one of the most sought after items as the city off late has emerged as the most preferred destinations for developing residential properties in the Delhi NCR region. Noida, moreover, is now home to leading corporates and their employees are constantly looking for residential flats in Noida to stay in. Realizing the need for this, Delhi’s topmost developers like DLF and Sobha Developers, to name a few have started mass scale operations to develop every inch of available residential plots in Noida.
There are several factors that are responsible for this boom in the construction of flats in Noida. The area’s infrastructure is world class, it is close to Delhi and more importantly, property rates are relatively low. Moreover, most of the leading ITES and IT organizations have set up base here, particularly in Sectors 18 and 60 to 63. Noida is also easily accessible to Faridabad, South Delhi and Gurgaon. It is, therefore, quite obvious that investment in residential plots in Noida or residential flats in Noida is bound to yield sound returns.
The investment scenario is confined to 2 prominent areas which are being rapidly developed: Noida - Greater Noida Expressway and Noida Extension. Flats in Noida and the Greater Noida Expressway region sell for around Rs 3000 - 5000 per square foot. As these are more affordable, the middle income group is zeroing in on them and developers are working in all conceivable residential plots in Noida after acquiring them from farmers because these were basically agricultural properties. It then takes the builder some time to convert them into commercial land, according to law. However, buyers of flats in Noida need to check out all legalities when they approach a builder and to ensure that he has obtained all necessary clearances for his project. There are many builders who lure prospective buyers with the amenities they will offer if their flats are bought but these too, need to be checked carefully before making investments. It always pays to know your rights and where you stand legally when you buy residential flats in Noida.
Noida Extension is growing faster because of the cheaper options it provides to the lower income group. The price per square foot ranges between Rs 1800 - 2500 and all projects that have received clearance have begun construction. These are expected to be complete by 2015 and such flats in Noida have already been sold out. But here gain, caution needs to be exercised. Check all legal documentation check as also the financial soundness of the builder. Check with his banker if he has received his pre loan promptly and this will ensure the financial viability of the project. Remember, whether its residential flats in Noida or residential plots in Noida that you are investing in, it’s a costly decision, but involves also a high element of risk if you don’t check your facts first. You may, however, engage a competent and experienced broker to get you the flat or property of your choice.
Flats in Noida are nowadays one of the most sought after items as the city off late has emerged as the most preferred destinations for developing residential properties in the Delhi NCR region. Noida, moreover, is now home to leading corporates and their employees are constantly looking for residential flats in Noida to stay in. Realizing the need for this, Delhi’s topmost developers like DLF and Sobha Developers, to name a few have started mass scale operations to develop every inch of available residential plots in Noida.
There are several factors that are responsible for this boom in the construction of flats in Noida. The area’s infrastructure is world class, it is close to Delhi and more importantly, property rates are relatively low. Moreover, most of the leading ITES and IT organizations have set up base here, particularly in Sectors 18 and 60 to 63. Noida is also easily accessible to Faridabad, South Delhi and Gurgaon. It is, therefore, quite obvious that investment in residential plots in Noida or residential flats in Noida is bound to yield sound returns.
The investment scenario is confined to 2 prominent areas which are being rapidly developed: Noida - Greater Noida Expressway and Noida Extension. Flats in Noida and the Greater Noida Expressway region sell for around Rs 3000 - 5000 per square foot. As these are more affordable, the middle income group is zeroing in on them and developers are working in all conceivable residential plots in Noida after acquiring them from farmers because these were basically agricultural properties. It then takes the builder some time to convert them into commercial land, according to law. However, buyers of flats in Noida need to check out all legalities when they approach a builder and to ensure that he has obtained all necessary clearances for his project. There are many builders who lure prospective buyers with the amenities they will offer if their flats are bought but these too, need to be checked carefully before making investments. It always pays to know your rights and where you stand legally when you buy residential flats in Noida.
Noida Extension is growing faster because of the cheaper options it provides to the lower income group. The price per square foot ranges between Rs 1800 - 2500 and all projects that have received clearance have begun construction. These are expected to be complete by 2015 and such flats in Noida have already been sold out. But here gain, caution needs to be exercised. Check all legal documentation check as also the financial soundness of the builder. Check with his banker if he has received his pre loan promptly and this will ensure the financial viability of the project. Remember, whether its residential flats in Noida or residential plots in Noida that you are investing in, it’s a costly decision, but involves also a high element of risk if you don’t check your facts first. You may, however, engage a competent and experienced broker to get you the flat or property of your choice.